Examples of Transferred Subsidiaries in a sentence
Since January 1, 2019, each of the Bank and the Transferred Subsidiaries has properly administered in all material respects all accounts for which it acts as a fiduciary, including accounts for which it serves as trustee, agent, custodian, personal representative, guardian, conservator or investment advisor, in accordance with the terms of the governing documents and applicable Laws.
None of the Transferred Subsidiaries has any commitment to authorize, issue or sell any equity interests, and there are no shares of capital stock of the Transferred Subsidiaries authorized or reserved for issuance.
Except as would not, individually or in the aggregate, reasonably be expected to be material to the Bank and the Transferred Subsidiaries, taken as a whole, neither the Bank nor any Transferred Subsidiary nor, to the Knowledge of Sellers, any of their current or former directors, officers or employees, has committed any breach of trust or fiduciary duty with respect to any such fiduciary account.
In addition, Seadrill shall not permit any of the Transferred Subsidiaries to take any action that would result in any of the conditions to the contributions, purchases, sales and equity issuances set forth in Article II not being satisfied.
Purchaser shall, and shall cause its Representatives to, conduct its inspections and investigations under this Section 5.1 in a manner that will not unreasonably interfere with the conduct of the business of Seller and its Affiliates (including the Bank or the Transferred Subsidiaries).