Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006756
Chunk: 42

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 42
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 the Company, to the extent that the occurrence of any of the
foregoing would not reasonably be expected to be, individually or in the aggregate, material to the Company and its Subsidiaries, taken
as a whole.

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Section 5.05. Subsidiaries.

(a) The
Subsidiaries of the Company as of the date of this Agreement are set forth on Section 5.05(a) of the Company Disclosure Schedule.
Each of the Subsidiaries of the Company has been duly incorporated, formed or organized and is validly existing and in good standing (to
the extent such concept exists in the jurisdiction of the relevant Subsidiary), where applicable, under the laws of its jurisdiction of
incorporation, formation or organization and has all requisite corporate or similar organizational power and authority to own or lease
its properties and to conduct its business as it is now being conducted. Each Subsidiary of the Company is duly licensed or qualified
and in good standing (to the extent such concept exists in the jurisdiction of the relevant Subsidiary) as a foreign company (or other
entity, if applicable) in each jurisdiction in which its ownership or lease of property or the character of its activities is such as
to require it to be so licensed or qualified or in good standing (to the extent such concept exists in the jurisdiction of the relevant
Subsidiary), as applicable, except where the failure to be so licensed or qualified or in good standing (to the extent such concept exists
in the jurisdiction of the relevant Subsidiary) would not, individually or in the aggregate, reasonably be expected to have a Company
Material Adverse Effect.

(b) True
and complete copies of the Governing Documents of the Subsidiaries of the Company as of the date of this Agreement have been made available
to BSII and are in full force and effect and such Subsidiaries are not in violation of any of the provisions thereof.

Section 5.06. Capitalization.

(a) All
of the issued Pre-Recapitalization Company Shares have been duly authorized and validly issued in accordance with Applicable Law, including
all applicable federal securities laws, and the Governing Documents of the Company, and are fully paid and were not issued in violation
of, any preemptive rights, rights of first refusal or similar rights, and are free and clear of all Liens and other restrictions (including