First Capital's Subsidiaries Clause Samples

First Capital's Subsidiaries. (a) The First Capital Disclosure Letter sets forth with respect to each First Capital Company its name, its jurisdiction of incorporation, First Capital's percentage ownership, the number of shares of stock owned or controlled by First Capital, and the name and number of shares held by any other person who owns any stock of the First Capital Company. First Capital owns of record and beneficially all the capital stock of each First Capital Company free and clear of any Liens. There are no contracts, commitments, agreements, or understandings relating to First Capital's right to vote or dispose of any equity securities of the First Capital Companies. First Capital's ownership interest in each First Capital Company is in compliance with all applicable laws, rules, and regulations relating to equity investments by bank holding companies or national banking associations. (b) Each First Capital Company is a corporation duly organized and validly existing under the laws of its jurisdiction of incorporation, has all requisite corporate power and authority to own, lease, and operate its properties, and to conduct the business currently being conducted by it and is duly qualified or licensed as a foreign corporation to transact business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or the nature of the business conducted by it makes such qualification or licensing necessary. (c) The outstanding shares of capital stock of each First Capital Company have been validly authorized and are validly issued, fully paid, and nonassessable. No shares of capital stock of any First Capital Company are or may be required to be issued by virtue of any options, warrants or other rights, no securities exist that are convertible into or exchangeable for shares of such capital stock, or any other debt or equity security of any First Capital Company, and there are no contracts, commitments, agreements, or understandings of any kind for the issuance of additional shares of capital stock or other debt or equity security of any First Capital Company or options, warrants, or other rights with respect to such securities.