Common use of Authorization of Common Securities Clause in Contracts

Authorization of Common Securities. On the Closing Date, the Common Securities will have been duly authorized for issuance by the Trust pursuant to the Declaration and, when duly issued and executed in accordance with the Declaration and delivered by the Trust to the Company against payment therefor in accordance with the subscription agreement therefor, will be validly issued and fully paid and nonassessable undivided common beneficial ownership interests in the assets of the Trust; the issuance of the Common Securities is not subject to preemptive or other similar rights; and on the Closing Date, all of the issued and outstanding Common Securities of the Trust will be owned directly by the Company, free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equitable right.

Authorization of Common Securities. On At the Closing DateTime, the Common Securities will have been duly authorized for issuance by the Trust pursuant to the Declaration and, when duly issued and executed in accordance with the Declaration and delivered by the Trust to the Company against payment therefor in accordance with the subscription agreement therefor, will be validly issued and fully paid and nonassessable undivided common beneficial ownership interests in the assets of the Trust; the issuance of the Common Securities is not subject to preemptive or other similar rights; and on at the Closing DateTime, all of the issued and outstanding Common Securities of the Trust will be owned directly by the Company, free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equitable right.

Authorization of Common Securities. On At the Closing DateTime, the Common Securities will have been duly authorized for issuance by the Trust pursuant to the Declaration and, when duly issued issued, executed and executed authenticated in accordance with the Declaration and delivered by the Trust to the Company against payment therefor in accordance with the subscription agreement thereforCommon Securities Subscription Agreement, will be validly issued and fully paid and nonassessable undivided common beneficial ownership interests in the assets of the Trust; the . The issuance of the Common Securities is not subject to preemptive or other similar rights; and on at the Closing Date, Time all of the issued and outstanding Common Securities of the Trust will be directly owned directly by the Company, Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equitable right.