Common use of Business in the Xxxxxxxx Islands Clause in Contracts

Business in the Xxxxxxxx Islands. The Company is not carrying on any business or conducting any transactions in the Republic of The Xxxxxxxx Islands. (ccc) Parent Ownership of Class A and Class B Shares. Parent owns directly (or indirectly through THL) 12,500,000 shares of Class B common stock, $0.01 par value, of the Company (“Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”) and 3,612,244 shares of Class A Common Stock. All such shares of Class A Common Stock and Class B Common Stock (collectively, the “Parent Shares”) have been duly authorized and are validly issued, fully paid and nonassessable; and Parent owns all such shares free and clear of all Liens.

Appears in 3 contracts

Samples: Underwriting Agreement (Teekay Tankers Ltd.), Underwriting Agreement (Teekay Tankers Ltd.), Teekay Tankers Ltd.

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Business in the Xxxxxxxx Islands. The Company is not carrying on any business or conducting any transactions in the Republic of The Xxxxxxxx Islands. (cccfff) Parent Ownership of Class A and Class B Shares. Parent owns directly (or indirectly through THL) 12,500,000 16,700,000 shares of Class B common stock, $0.01 par value, of the Company (“Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”) and 3,612,244 8,500,000 shares of Class A Common Stock. All such shares of Class A Common Stock and Class B Common Stock (collectively, the “Parent Shares”) have been duly authorized and are validly issued, fully paid and nonassessable; and Parent owns all such shares free and clear of all Liens.

Appears in 1 contract

Samples: Teekay Tankers Ltd.

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