Covenant of the Trust. The Class A Shares to be issued and delivered to the Governor Portfolio pursuant to the terms hereof shall have been duly authorized as of the Closing and, when so issued and delivered, shall be registered under the 1933 Act, duly and validly issued, and fully paid and non-assessable, and no shareholder of the Vision Portfolio shall have any statutory or contractual preemptive right of subscription or purchase in respect thereof.
Covenant of the Trust. The Trust shall promptly give written notice to the Depositary of the latest MES Issuance Date and the Depositary shall be entitled to conclusively rely on such notice in connection with the issuance of the corresponding MES ADSs.
Covenant of the Trust. The shares of beneficial interest of the Vision Portfolio to be issued and delivered to the Governor Portfolio pursuant to the terms hereof shall have been duly authorized as of the Closing and, when so issued and delivered, shall be registered under the 1933 Act, duly and validly issued, and fully paid and non-assessable, and no shareholder of the Vision Portfolio shall have any statutory or contractual preemptive right of subscription or purchase in respect thereof.
