Common use of Dormant Subsidiaries Clause in Contracts

Dormant Subsidiaries. Each of the Dormant Subsidiaries will remain dormant and not engage in any business activities (other than the maintenance of its corporate existence as a dormant entity under English law or Scottish law, as applicable). Each of the Dormant Subsidiaries will not hold any assets, conduct any operations, incur any liabilities (including, without limitation, any Indebtedness) nor grant any Liens.

Dormant Subsidiaries. Each of the Dormant Subsidiaries will remain is dormant and not engage engaged in any business activities (other than the maintenance of its corporate existence as a dormant entity under English law or Scottish law, as applicable). Each of the Dormant Subsidiaries will does not hold any assets, conduct has no operations or liabilities and has not incurred any operations, incur any liabilities (including, without limitation, any Indebtedness) Indebtedness nor grant granted any Liens.