Examples of Purchaser Subsidiary in a sentence
All of the outstanding shares of each Purchaser Subsidiary are validly issued, fully paid and non-assessable.
Purchaser and each Purchaser Subsidiary are registered, licensed or otherwise qualified as an extra-provincial corporation or a foreign corporation in each jurisdiction where the nature of the business or the location or character of the property and assets owned or leased by it requires it to be so registered, licensed or otherwise qualified, other than those jurisdictions where the failure to be so registered, licensed or otherwise qualified would not have a Material Adverse Effect on Purchaser.
Purchaser and each Purchaser Subsidiary has been incorporated, are validly subsisting and have full corporate or legal power and authority to own their respective properties and assets and to conduct their respective businesses as currently owned and conducted.
Except pursuant to restrictions on transfer contained in the articles or by-laws (or their equivalent) of the respective Purchaser Subsidiary, the outstanding shares of each Purchaser Subsidiary are owned by Purchaser free and clear of all Encumbrances (except for any Encumbrances referred to in the Purchaser Disclosure Letter) and Purchaser is not liable to any creditor in respect thereof.
As of the date hereof, there are no outstanding bonds, debentures or other evidences of indebtedness of Purchaser or any Purchaser Subsidiary having the right to vote with the Purchaser Shareholders on any matter.