Common use of Subsidiaries, Investments, No Prior Activities Clause in Contracts

Subsidiaries, Investments, No Prior Activities. (a) When the Sale Site Subsidiaries are formed and immediately prior to the Initial Closing, none of the Sale Site Subsidiaries shall (i) have any Subsidiaries, (ii) own any shares of, or control, directly or indirectly, or have any equity interest in (or any right (whether contingent or otherwise) to acquire the same) any Person, (iii) own or hold any Indebtedness or securities issued by or other investments in any Person or (iv) have engaged in any activities other than in connection with or incidental to its formation, the execution and delivery of the applicable Joinder Agreement and the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby.

Subsidiaries, Investments, No Prior Activities. (a) When the AT&T Newcos and the Sale Site Subsidiaries are formed and immediately prior to the Initial Closing, none of the AT&T Newcos or the Sale Site Subsidiaries shall (ia) have any Subsidiaries, (iib) own any shares of, or control, directly or indirectly, or have any equity interest in (or any right (whether contingent or otherwise) to acquire the same) any Person, (iiic) own or hold any Indebtedness or securities issued by or other investments in any Person or (ivd) have engaged in any activities other than in connection with or incidental to its formation, the execution and delivery of the applicable Joinder Agreement and the Collateral Agreements to which it is a party, and the consummation of the transactions contemplated hereby and thereby.