Common use of Sxxxxx Clause in Contracts

Sxxxxx. xxx (a) Sxxxxx.xxx is a company duly incorporated, validly existing and in good standing under the laws of the jurisdiction of its incorporation. (b) The Sxxxxx.xxx Shares are fully paid and not subject to any option to purchase or similar rights other than in favour of the Lender. (c) No order has been made, petition presented or meeting convened for the winding up of Sxxxxx.xxx, or for the appointment of an administrator or any provisional liquidator (or equivalent in the jurisdiction of its incorporation) (or other process whereby the business is terminated and the assets of the company concerned are distributed amongst the creditors and/or shareholders or other contributors), and Sxxxxx.xxx is fully solvent and able to meet its debs under the Applicable Law.