Common use of Ownership of the Subsidiaries Clause in Contracts

Ownership of the Subsidiaries. The Company owns 100% of the equity interests in each of the Subsidiaries; such equity interests have been duly authorized and validly issued in accordance with the Subsidiaries’ Organizational Documents, have been fully paid and are nonassessable; and the Company owns such equity interests free and clear of all Liens except for Liens pursuant to the Credit Agreements.

Appears in 2 contracts

Samples: Underwriting Agreement (Teekay Tankers Ltd.), Underwriting Agreement (Teekay Tankers Ltd.)

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Ownership of the Subsidiaries. The Company owns owns, directly or indirectly, 100% of the equity interests in each of the Subsidiaries; such equity interests have been are duly authorized and validly issued in accordance with the organizational documents of each Subsidiary (the “Subsidiaries’ Organizational Documents, have been ”) and are fully paid and are nonassessable; and the Company owns such equity interests free and clear of all Liens pledges, liens, encumbrances, security interests, charges, equities or other claims (collectively, “Liens”) except for Liens pursuant to under the Credit Agreements.

Appears in 2 contracts

Samples: Underwriting Agreement (Teekay Tankers Ltd.), Underwriting Agreement (Teekay Tankers Ltd.)

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Ownership of the Subsidiaries. The Company owns 100% of the equity interests in each of the Subsidiaries; such equity interests have been duly authorized and validly issued in accordance with the Subsidiaries’ Organizational DocumentsDocuments applicable to such Subsidiaries, have been fully paid and are nonassessable; and the Company owns such equity interests free and clear of all Liens except for Liens pursuant to the Credit Agreements.

Appears in 1 contract

Samples: Underwriting Agreement (Teekay Tankers Ltd.)

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