Common use of Authorization of the Units Clause in Contracts

Authorization of the Units. The issuance of the Units to the Company in exchange for contribution of proceeds from the sale of the Securities described in the General Disclosure Package and the Prospectus has been duly authorized by the Partnership, and when issued and duly delivered against payment therefor, will be validly issued, fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim created by or known to the Company or the Partnership; and the issuance of Units by the Partnership is not subject to preemptive or other similar rights arising by operation of law under the organizational documents of the Partnership or under any agreement to which the Partnership is a party.

Appears in 7 contracts

Samples: Purchase Agreement (DiamondRock Hospitality Co), Purchase Agreement (DiamondRock Hospitality Co), Purchase Agreement (DiamondRock Hospitality Co)

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Authorization of the Units. The issuance of the Units to the Company in exchange for contribution of proceeds from the sale of the Securities Shares described in the General Disclosure Package Registration Statement and the Prospectus has been duly authorized by the Partnership, and when issued and duly delivered against payment therefor, will be validly issued, fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim created by or known to the Company or the Partnership; and the issuance of Units by the Partnership is not subject to preemptive or other similar rights arising by operation of law under the organizational documents of the Partnership or under any agreement to which the Partnership is a party.

Appears in 4 contracts

Samples: Sales Agreement (DiamondRock Hospitality Co), Sales Agreement (DiamondRock Hospitality Co), Sales Agreement (DiamondRock Hospitality Co)

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Authorization of the Units. The issuance of the Units to the Company in exchange for contribution of proceeds from the sale of the Securities Shares described in the General Disclosure Package Registration Statement, the Prospectus and the any Permitted Free Writing Prospectus has been duly authorized by the Partnership, and when issued and duly delivered against payment therefor, will be validly issued, fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security interest or other claim created by or known to the Company or the Partnership; and the issuance of Units by the Partnership is not subject to preemptive or other similar rights arising by operation of law under the organizational documents of the Partnership or under any agreement to which the Partnership is a party.

Appears in 2 contracts

Samples: Distribution Agreement (DiamondRock Hospitality Co), Distribution Agreement (DiamondRock Hospitality Co)

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