Common use of Dormant Companies Clause in Contracts

Dormant Companies. Each of the companies listed in Schedule 11 (Dormant Subsidiaries) does not trade (for itself or as agent for any person) and does not own, legally or beneficially, assets (including, without limitation, indebtedness owed to it) which in aggregate have a value of more than R1,000,000 (or its equivalent in other currencies).

Appears in 6 contracts

Samples: Senior Facility Agreement (Lesaka Technologies Inc), Common Terms Agreement (Net 1 Ueps Technologies Inc), Common Terms Agreement (Net 1 Ueps Technologies Inc)

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Dormant Companies. Each of the companies listed in Schedule 11 12 (Dormant Subsidiaries) does not trade (for itself or as agent for any person) and does not own, legally or beneficially, assets (including, without limitation, indebtedness owed to it) which in aggregate have a value of more than R1,000,000 (or its equivalent in other currencies).

Appears in 2 contracts

Samples: Common Terms Agreement (Net 1 Ueps Technologies Inc), Common Terms Agreement (Net 1 Ueps Technologies Inc)

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