Subsidiary Undertakings definition
Examples of Subsidiary Undertakings in a sentence
The shares or other interests held by any Group Company in the capital of any Subsidiary Undertakings or Associated Undertakings of the Company are legally and beneficially owned free from all Encumbrances and are fully paid up.
If there is a conflict between the terms of this Agreement and those of the Articles or the articles of association of any of the Company’s Subsidiary Undertakings or the terms of any instrument(s) constituting the CPECs, the terms of this Agreement shall prevail but not so as to amend those articles of association or instrument(s).
Each of the Subsidiary Undertakings is a wholly-owned subsidiary of the Company and each of the shares of each Subsidiary Undertaking is beneficially and legally owned by a Group Member and has been properly allotted and issued and is fully paid or credited as fully paid.
D.2 Save in respect of Encumbrances to be released on Closing in accordance with the terms of the Deeds of Release, there is no Encumbrance on, over or affecting any of the shares in the capital of any of the Subsidiary Undertakings and there is no agreement or commitment entered into to give or create such Encumbrance and no person has claimed to be entitled to such Encumbrance.
If the Additional Capital Contributions are not to be applied to one or more particular Subsidiary Undertakings or assets represented by specific classes of Shares and CPECs, then Shares and CPECs of all classes shall be issued pro rata to the number of each class already in existence prior to the Additional Capital Contribution being made.