Common use of No Business Activities Clause in Contracts

No Business Activities. Acquirer is not a party to any material agreement nor has it conducted any activities other than in connection with its incorporation, the preparation, negotiation and execution of this Agreement and the consummation of the transactions contemplated hereby. Acquirer has no material liabilities except to the extent arising under this Agreement. Except for its ownership of the shares of Company Common Stock set forth in Section 3.2(b), Acquirer does not own, directly or indirectly, any capital stock or other ownership interest in any Person and Acquirer has no Subsidiaries.

No Business Activities. Acquirer is not a party to any material agreement nor has it conducted any activities other than in connection with its incorporationorganization, the preparation, negotiation and execution of this Agreement and the consummation of the transactions contemplated hereby. Acquirer has no material liabilities except to the extent arising under this Agreementliabilities. Except for its ownership of the shares of Company Common Stock and Company Preferred Stock set forth in Section 3.2(b), Acquirer does not own, directly or indirectly, any capital stock or other ownership interest in any Person and Acquirer has no Subsidiaries.