Newly Created Subsidiaries. During the period beginning on the Execution Date and ending on the Termination Date, if the Company creates or acquires any new Subsidiary that owns, at the time of creation or acquisition or any time thereafter, assets having a fair market value in excess of $50,000, then the Company shall cause such new Subsidiary to become party to the Subsidiary Guarantee and Security Agreement.
Appears in 2 contracts
Sources: Securities Purchase Agreement (Digital Angel Corp), Securities Purchase Agreement (Applied Digital Solutions Inc)