Common use of Subco Clause in Contracts

Subco. Subco shall be validly subsisting and in good standing under the DGCL immediately prior to the Merger. FogChain covenants and agrees that Subco shall not carry on any business, shall not enter into any Contracts, agreements, commitments, indentures or other instruments prior to the Closing Date other than as required to effect the Merger and shall be debt free as of the time of the Merger.

Subco. Subco shall be validly subsisting and in good standing under the DGCL immediately prior to the Merger. FogChain Purchaser covenants and agrees that Subco shall not carry on any business, shall not enter into any Contractscontracts, agreements, commitments, indentures or other instruments prior to the Closing Date other than as required to effect the Merger and shall be debt free as of the time of the Merger.

Subco. Subco shall be validly subsisting and in good standing under the DGCL immediately prior to the Merger. FogChain Apogee covenants and agrees that Subco shall not carry on any business, shall not enter into any Contractscontracts, agreements, commitments, indentures or other instruments prior to the Closing Date other than as required to effect the Merger and shall be debt free as of the time of the Merger.

Subco. Subco shall be validly subsisting and in good standing under the DGCL NRS immediately prior to the Merger. FogChain Purchaser covenants and agrees that Subco shall not carry on any business, shall not enter into any Contractscontracts, agreements, commitments, indentures or other instruments prior to the Closing Date other than as required to effect the Merger and shall be debt free as of the time of the Merger.

Subco. Subco shall be validly subsisting and in good standing under the DGCL immediately prior to the Merger. FogChain Caracara covenants and agrees that Subco shall not carry on any business, shall not enter into any Contractscontracts, agreements, commitments, indentures or other instruments prior to the Closing Date other than as required to effect the Merger and shall be debt free as of the time of the Merger.