Business of the Subsidiaries. The Business is the only business operation carried on by the Subsidiaries, and the property and assets owned or leased by the Subsidiaries are sufficient to carry on the Business. All of the property and assets owned and used by the Subsidiaries are in good operating condition and are in a state of good repair and maintenance, subject to wear and tear in the ordinary course.
Appears in 2 contracts
Sources: Share Purchase Agreement (Crown Oil & Gas Inc.), Share Purchase Agreement (Crown Oil & Gas Inc.)