Common use of Organization of Merger Subs Clause in Contracts

Organization of Merger Subs. Newco has caused each of Hippo Merger Sub and Rhino Merger Sub to be organized for the sole purpose of effectuating the Mergers. The authorized capital stock of Hippo Merger Sub consists of 100 shares of Common Stock, par value $0.01 per share, all of which shares have been issued to Newco at a price of $1.00 per share. The authorized capital stock of Rhino Merger Sub consists of 100 shares of Common Stock, par value $0.01 per share, all of which shares have been issued to Newco at a price of $1.00 per share.