Common use of Subsidiaries and Parent Clause in Contracts

Subsidiaries and Parent. form or acquire any Subsidiaries other than in the case of the Borrower, the Owners or cease to legally and beneficially own 100% of the issued shares in the capital of the Owners, whether directly or indirectly; and

Subsidiaries and Parent. form or acquire any Subsidiaries other than (except, in the case of the Borrower, the Owners or any other Subsidiaries which it shall form or acquire in order to own vessels) and, in the case of the Borrower, cease to legally and beneficially own 100% of the issued shares in the capital of the Owners, whether directly or indirectly; and;