Business Entity definition
Examples of Business Entity in a sentence
Each of the Parties shall cause (or with respect to an Affiliate that is not a Subsidiary, shall use commercially reasonable efforts to cause) to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any Business Entity that becomes a Subsidiary or Affiliate of such Party on and after the Distribution.
This Agreement shall constitute a direct obligation of each such entity and shall be deemed to have been readopted and affirmed on behalf of any Business Entity that becomes a Subsidiary or Affiliate of such Party on and after the Distribution.
Each Subject Entity (other than a New Business Entity) is, and with respect to each New Business Entity, will be as of the Closing, in compliance in all material respects with the provisions of its Organizational Documents.
No Subject Entity (other than a New Business Entity) has, and no New Business Entity as of the Closing will have, any outstanding bonds, debentures, notes or other obligations the holders of which have the right to vote (or convertible into or exercisable for securities having the right to vote) with the securityholders of such Subject Entity on any matter.
As of the date of this Agreement B▇▇▇▇ H▇▇▇▇▇ owns (other than any New Business Entity not existing as of the date of this Agreement), and as of the Closing the Company will own, directly or indirectly, all of the Equity Interests in each of the Subject Entities, in each case free and clear of all Encumbrances, except any Encumbrances arising out of, under or in connection with applicable Laws governing securities.