Common use of Dormant Subsidiaries Clause in Contracts

Dormant Subsidiaries. Each of the Dormant Subsidiaries is dormant and not 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 does not hold any assets, has no operations or liabilities and has not incurred any Indebtedness nor granted any Liens.

Dormant Subsidiaries. Each of the Dormant Subsidiaries is will remain dormant and not engaged 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 does will not hold any assets, has no operations or conduct any operations, incur any liabilities and has not incurred (including, without limitation, any Indebtedness Indebtedness) nor granted grant any Liens.