As of the Amendment Date, Borrower has no Subsidiaries other than those specifically disclosed in Schedule 4.9 . All of the outstanding Capital Stock of each of Borrower’s Subsidiaries has been validly issued, is fully paid and nonassessable and is owned by Borrower or the applicable Subsidiary and in the amounts, each as specified on Schedule 4.9 , and free and clear of all Liens except those created under the Security Documents.