Common use of Capitalization of Subsidiaries Clause in Contracts

Capitalization of Subsidiaries. Except as set forth on Schedule 3.06 to the MAI Disclosure Letter, all of the outstanding shares of capital stock of, or other ownership interests in, each Subsidiary of MAI, are duly authorized, validly issued, fully paid and non-assessable and are owned, beneficially and of record, by MAI, directly or indirectly, free and clear of any consensual Lien (including any restriction on the right to vote, sell or otherwise dispose of such capital stock or other ownership interests). There are no (a) outstanding securities of MAI or any Subsidiary of MAI convertible into or exchangeable for shares of capital stock or other voting securities or ownership interests in any Subsidiary of MAI, or (b) options, warrants or other rights to acquire from MAI or any Subsidiary of MAI, and no other obligation of MAI or any Subsidiary of MAI to issue, any capital stock, voting securities or other ownership interests in, or any securities convertible into or exchangeable for, any capital stock, voting securities or ownership interests in, any Subsidiary of MAI (the items in clauses (a) and (b) being referred to collectively as the "MAI SUBSIDIARY SECURITIES").

Capitalization of Subsidiaries. Except as set forth on ------------------------------ Schedule 3.06 to the MAI Disclosure Letter, all of the outstanding shares of capital stock of, or other ownership interests in, each Subsidiary of MAI, are duly authorized, validly issued, fully paid and non-assessable and are owned, beneficially and of record, by MAI, directly or indirectly, free and clear of any consensual Lien (including any restriction on the right to vote, sell or otherwise dispose of such capital stock or other ownership interests). There are no (a) outstanding securities of MAI or any Subsidiary of MAI convertible into or exchangeable for shares of capital stock or other voting securities or ownership interests in any Subsidiary of MAI, or (b) options, warrants or other rights to acquire from MAI or any Subsidiary of MAI, and no other obligation of MAI or any Subsidiary of MAI to issue, any capital stock, voting securities or other ownership interests in, or any securities convertible into or exchangeable for, any capital stock, voting securities or ownership interests in, any Subsidiary of MAI (the items in clauses (a) and (b) being referred to collectively as the "MAI SUBSIDIARY SECURITIESSubsidiary Securities").

Capitalization of Subsidiaries. Except as set forth on Schedule 3.06 to the MAI Disclosure Letter, all of the outstanding shares of capital stock of, or other ownership interests in, each Subsidiary of MAI, are duly authorized, validly issued, fully paid and non-non- assessable and are owned, beneficially and of record, by MAI, directly or indirectly, free and clear of any consensual Lien (including any restriction on the right to vote, sell or otherwise dispose of such capital stock or other ownership interests). There are no (a) outstanding securities of MAI or any Subsidiary of MAI convertible into or exchangeable for shares of capital stock or other voting securities or ownership interests in any Subsidiary of MAI, or (b) options, warrants or other rights to acquire from MAI or any Subsidiary of MAI, and no other obligation of MAI or any Subsidiary of MAI to issue, any capital stock, voting securities or other ownership interests in, or any securities convertible into or exchangeable for, any capital stock, voting securities or ownership interests in, any Subsidiary of MAI (the items in clauses (a) and (b) being referred to collectively as the "MAI SUBSIDIARY SECURITIESSubsidiary Securities").