Common use of Principal Subsidiaries Clause in Contracts

Principal Subsidiaries. Set forth on Schedule III is a complete and accurate list of all Principal Subsidiaries existing on September 30, 1996, showing the jurisdiction of its incorporation, and the percentage of its outstanding capital stock owned by the Company on the date hereof. All stock of each Principal Subsidiary has been validly issued, is fully paid and nonassessable and (except for directors' qualifying shares) is owned, directly or indirectly, by the Company free and clear of all Liens not permitted under Section 5.02 hereof.

Principal Subsidiaries. Set forth on Schedule III I is a complete and accurate list of all Principal Subsidiaries existing on September 30, 19961994, showing the jurisdiction of its incorporation, and the percentage of its outstanding capital stock owned by the Company on the date hereof. All stock of each Principal Subsidiary has been validly issued, is fully paid and nonassessable and (except for directors' qualifying shares) is owned, directly or indirectly, by the Company free and clear of all Liens not permitted under Section 5.02 hereof.