Common use of Capitalization of Seller Clause in Contracts

Capitalization of Seller. The authorized capital stock of Seller consists of 20,000,000 shares of common stock, $1.00 par value per share and 1,500,000 shares of preferred stock, $10.00 par value per share, of which 13,971,605 shares of common stock and no shares of preferred stock are issued and outstanding, all of which issued and outstanding shares are owned beneficially and of record by Parent. Seller does not own, directly or indirectly, any capital stock, or any other investment in, any other Person (other than receivables in the ordinary course of business of the Tissue Business and other than Excluded Assets).

Capitalization of Seller. The authorized capital stock of Seller consists of 20,000,000 One Hundred Thousand (100,000) common shares of no par value. There are One Hundred (100) common stock, $1.00 par value per share and 1,500,000 shares of preferred stock, $10.00 par value per share, of which 13,971,605 shares of common stock and no shares of preferred stock are issued and outstanding, all of which are owned of record and beneficially solely by Shareholder. There are no rights or options to acquire capital stock of Seller. All of the issued and outstanding shares of capital stock of Seller have been duly authorized and validly issued and are owned beneficially fully paid and nonassessable. There are no shares of record by Parent. capital stock of Seller does not own, directly or indirectly, any capital stock, or any other investment in, any other Person (other than receivables held in the ordinary course of business of the Tissue Business and other than Excluded Assets)its treasury.

Capitalization of Seller. The authorized capital stock of Seller consists of 20,000,000 shares of One Hundred Thousand (100,000) common stockshares, $1.00 par value per share and 1,500,000 $1.00. There are One Hundred (100) common shares of preferred stock, $10.00 par value per share, of which 13,971,605 shares of common stock and no shares of preferred stock are issued and outstanding, all of which are owned of record and beneficially solely by Shareholder. There are no rights or options to acquire capital stock of Seller. All of the issued and outstanding shares of capital stock of Seller have been duly authorized and validly issued and are owned beneficially fully paid and nonassessable. There are no shares of record by Parent. capital stock of Seller does not own, directly or indirectly, any capital stock, or any other investment in, any other Person (other than receivables held in the ordinary course of business of the Tissue Business and other than Excluded Assets)its treasury.