Common use of CAPITALIZATION OF AMP SUBSIDIARY Clause in Contracts

CAPITALIZATION OF AMP SUBSIDIARY. AMP owns all of the outstanding capital stock of AMP Subsidiary. AMP Subsidiary does not have any bonds, debentures, notes or other obligations the holders of which will have the right to vote (or will be convertible into or exercisable for securities having the right to vote) with the stockholders of AMP Subsidiary on any matter. There exist no options, warrants, subscriptions or other rights to purchase, or securities convertible into or exchangeable for, any of the authorized or outstanding securities of AMP Subsidiary, and no option, warrant, call, conversion right or commitment of any kind will exist that obligates AMP Subsidiary to issue any of its authorized but unissued capital stock. AMP Subsidiary has no obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any of its equity securities or any interests therein or to pay a dividend or make any distribution in respect thereof. No stockholder of AMP Subsidiary has granted options or other rights to purchase any shares of AMP Subsidiary Common Stock from such stockholder.