Authorization of the Company Common Securities. At the Closing Time, the Company Common Securities will have been duly authorized by the LLC Agreement and, when issued and delivered by the Company to the Guarantor against payment therefor as described in the Registration Statement and Prospectus, and will be validly issued and (subject to the terms of the LLC Agreement) fully paid limited liability company interests; the issuance of the Company Common Securities is not subject to preemptive or other similar rights; and at the Closing Time all of the issued and outstanding Company Common Securities of the Company will be directly owned by the Guarantor free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity.
Appears in 2 contracts
Samples: Underwriting Agreement (Ubs Preferred Funding Trust Iii), Ubs Preferred Funding Co LLC I
Authorization of the Company Common Securities. At the Closing Timetime of purchase, the Company Common Securities will have been duly authorized by the LLC Agreement and, when issued and delivered by the Company to the Guarantor against payment therefor as described in the Registration Statement and Prospectus, and will be validly issued and (subject to the terms of the LLC Agreement) fully paid limited liability company interests; the issuance of the Company Common Securities is not subject to preemptive or other similar rights; and at the Closing Time time of purchase all of the issued and outstanding Company Common Securities of the Company will be directly owned by the Guarantor free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity.
Appears in 1 contract
Samples: UBS Preferred Funding Trust VIII
Authorization of the Company Common Securities. At the Closing Time, the Company Common Securities will have been duly authorized by the LLC Agreement and, when issued and delivered by the Company to the Guarantor against payment therefor as described in the Registration Statement and Prospectus, and will be validly issued and (subject to the terms of the LLC Agreement) fully paid limited liability company interests; the issuance of the Company Common Securities is not subject to preemptive or other similar rights; and at the Closing Time all of the issued and outstanding Company Common Securities of the Company will be directly owned by the Guarantor free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity.
Appears in 1 contract
Samples: Ubs Preferred Funding Trust Iv
