Common use of Capital Structure of Company Clause in Contracts

Capital Structure of Company. The authorized capital units of Company consists of 100 units (the "Authorized Units"). That all of the Authorized Units are owned by and under the control of Western. All of the Authorized are validly issued, fully paid and non-assessable. There are no outstanding subscriptions, options, calls, rights, warrants, convertible securities or other agreements or commitments obligating Company, to issue, sell or otherwise dispose of or to purchase, redeem or otherwise acquire any of the Authorized Units.