Former Parent definition
Examples of Former Parent in a sentence
The Company owns no property or assets other than 10,000 ordinary shares of the Company Subsidiary, which ordinary shares may be repurchased by Former Parent upon the terms and conditions, and under the circumstances, set forth in that certain Buyback Agreement, dated June 7, 2024, by and between the Company and Former Parent, as further described in Section 4.1 of the Company Disclosure Schedule (the “Buyback Agreement”).
The Company Subsidiary is authorized to issue 10,000 ordinary shares representing membership in the Company Subsidiary, all of which are issued and outstanding and held by the Company, which ordinary shares may be repurchased by Former Parent upon the terms and conditions and under the circumstances set forth in the Buyback Agreement; no other shares or other Equity Interests of the Company Subsidiary are authorized, issued, reserved for issuance or outstanding.