Examples of Vessel Owning Subsidiaries in a sentence
Assetplus is the holding company that owns all of the issued and outstanding shares of capital stock of each of Vega Offshore and the Vessel Owning Subsidiaries.
Assetplus currently directly owns all of the issued and outstanding shares of capital stock of four special purpose vehicle companies, referred to herein as the Vessel Owning Subsidiaries, as well as Vega Offshore.
The Seller and each of the Vessel Owning Subsidiaries is an entity duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite legal authority to own and use its properties and assets and to carry on its business as currently conducted.
Each of the Vessel Owning Subsidiaries possesses all Authorizations issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses except where the failure to possess any such Authorization would not cause a Seller Material Adverse Effect (“Seller Permits”), and no Vessel Owning Subsidiary has received any written notice of proceedings relating to the revocation or modification of any such Seller Permit.
Anemos hereby sells to the MLP, subsequent to the execution of the Purchase Agreement, all of the outstanding shares of capital stock in the Vessel Owning Subsidiaries as set forth on Schedule A hereto.