Common use of Ownership of Other Entities Clause in Contracts

Ownership of Other Entities. Except as otherwise disclosed in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus, all of the issued and outstanding capital stock and other ownership interests of each subsidiary of the Company has been duly authorized and validly issued, is fully paid and non-assessable and is owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity. None of the outstanding shares of capital stock or other ownership interests of any subsidiary were issued in violation of the preemptive or similar rights of any security holder of such subsidiary. Other than the subsidiaries of the Company listed in Exhibit 21 to the Company’s Transition Report on Form 10-K for the transition period from January 1, 2015 to January 31, 2015, the Company, directly or indirectly, owns no capital stock or other equity or ownership or proprietary interest in any corporation, partnership, association, trust or other entity.

Ownership of Other Entities. Except as otherwise disclosed in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus, all of the issued and outstanding capital stock and other ownership interests of each subsidiary of the Company has been duly authorized and validly issued, is fully paid and non-assessable and is owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity. None of the outstanding shares of capital stock or other ownership interests of any subsidiary were issued in violation of the preemptive or similar rights of any security holder of such subsidiary. Other than the subsidiaries of the Company listed in Exhibit 21 to the Company’s Transition Report on Form 10-K for the transition period from January 1, 2015 to ended January 31, 2015, the Company, directly or indirectly, owns no capital stock or other equity or ownership or proprietary interest in any corporation, partnership, association, trust or other entity.