Examples of Subco 1 in a sentence
Name of Subsidiary Jurisdiction Authorized / Issued Capital Ownership Information RLH Netherlands B.V. Netherlands 100 ordinary shares issued and outstanding 100% owned directly by the Corporation Red Light Holland (Subco 1) Inc.
Target Subco 1 Subco 2>67%Other Public Public Minority (<33%) TCC and Parent transfer the Target shares they have acquired to Newco for Newco shares.
The Company has three CGU’s being the RLN Netherlands BV (sale of iMicrodose kits), Red Light Holland (Subco 1) (sale of merchandise), and SR wholesale (wholesale of psychedelics and cannabis related products).
The name of Amalco 1 shall be “Red Light Holland (Subco 1) Inc.”.
On February 4, 2020, Subco 1, the Company’s then wholly-owned subsidiary, entered into a supply and collaboration agreement (the “Supply and Collaboration Agreement”) with Revive Therapeutics Ltd.
Neon, Subco 1 and Merger Sub shall pay their own legal, accounting, out-of-pocket and other expenses incidental to this Agreement and to any action taken by such party in preparation for carrying this Agreement into effect, including without limitation the costs and expenses of any investment bankers, brokers and consultants engaged by such party at any time in connection with pursuing or consummating the Transaction and other transactions contemplated hereby.
Amalco, Subco 1 and Neon will take any necessary actions to maintain the status of Amalco as a corporation for United States tax purposes.
No vote of the stockholders of Neon is required by Regulation, Neon’s Certificate or Articles of Incorporation or by-laws or otherwise in order for Neon, Subco 1 and Merger Sub to consummate the Transaction.
The Merger Sub and Neon shall promptly notify InnerAccess, the Merging Shareholders and the Principals of any Default, the threat or commencement of any Action, or any development that occurs before the Closing that could in any way materially affect Neon, Subco 1, Merger Sub or the consummation of the Transaction and other transactions contemplated hereby.
The winding up of Subco 1 shall be commenced in accordance with section 237 of the Act and in connection therewith (i) all of the property of Subco 1 including the Purchased Shares held by Subco 1 shall be distributed to Magna, and (ii) all of the liabilities of Subco 1 shall be assumed by Magna.