Common use of Subsidiary Undertakings Clause in Contracts

Subsidiary Undertakings. (a) The Company does not have any subsidiary undertakings other than the Subsidiary Undertakings. (b) The Company has no interest in, and has not agreed to acquire an interest in or merge or consolidate with, a corporate body or any other person other than the Subsidiary Undertakings. (c) Each allotted and issued share in the capital of each Subsidiary Undertaking is legally and beneficially owned by a Group Company alone and is fully paid or credited as fully paid. (d) There is no Encumbrance, and there is no agreement, arrangement or obligation to create or give an Encumbrance, in relation to a share or unissued share in the capital of a Subsidiary Undertaking other than an Encumbrance arising as a result of security granted in relation to the Bank Facilities.