Ascent Arena Company Sample Clauses

Ascent Arena Company. (i) As of the Closing Date, the Seller Ascent Arena Company Membership Interests will be as follows: AEG 1% LLC-II 92.5% (ii) AEG and LLC-II will have, as of the Closing Date, good title to 100% of the Seller Ascent Arena Company Membership Interests, free and clear of all Liens other than those created by this Agreement. AEG and LLC-II will be, as of the Closing Date, the record and beneficial owners of the Seller Ascent Arena Company Membership Interests in the ratios stated in Section 5.2(b)(i). (iii) The Seller Ascent Arena Company Membership Interests have been duly authorized and validly issued, are fully paid and nonassessable, were not issued in violation of the terms of any Contract binding upon Ascent Arena Company, AEG, Ascent Development Corp. or LLC-II and were issued in compliance with all applicable Organizational Documents and Applicable Law. (iv) Except as set forth in the Ascent Operating Agreement, there are: (A) no existing Contracts or rights of any character with respect to the purchase, redemption or acquisition of any membership or other interest in Ascent Arena Company, existing or contingent, at any time, or upon the happening of any stated event; (B) no outstanding interests that are convertible into or exchangeable for membership or other interests in Ascent Arena Company; and (C) no Contracts or rights of any character to purchase or otherwise acquire from AEG, Ascent Arena Company, Ascent Development Corp. or LLC-II any such convertible or exchangeable interests.
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Ascent Arena Company. (1) As of the Closing Date, the Ascent Arena Company Membership Interests will be as follows: AEG 7.5% Ascent Development Corp. 92.5% (2) AEG and Ascent Development Corp. will have, as of the Closing Date, good title to 100% of the Ascent Arena Company Membership Interests, free and clear of all Liens other than those created by this Agreement. AEG and Ascent Development Corp. will be, as of the Closing Date, the record and beneficial owners of the Ascent Arena Company Membership Interests in the ratios stated in Section 5.2(b)(i). (3) The Ascent Arena Company Membership Interests have been duly authorized and validly issued, are fully paid and nonassessable, were not issued in violation of the terms of any Contract binding upon Ascent Arena Company, AEG or Ascent Development Corp. and were issued in compliance with all applicable Organizational Documents and Applicable Law. (4) Except as set forth in the Operating Agreement of Ascent Arena Company, there are: (A) no existing Contracts or rights of any character with respect to the purchase, redemption or acquisition of any membership or other interest in Ascent Arena Company, existing or contingent, at any time, or upon the happening of any stated event; (B) no outstanding interests that are convertible into or exchangeable for membership or other interests in Ascent Arena Company; and (C) no Contracts or rights of any character to purchase or otherwise acquire from AEG, Ascent Arena Company, Ascent Development Corp. or LDA any such convertible or exchangeable interests.
Sample 1

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