Duly Authorized and Validly Issued Sample Clauses
The "Duly Authorized and Validly Issued" clause confirms that any shares, securities, or other instruments referenced in an agreement have been properly approved and issued in accordance with all applicable laws and corporate procedures. In practice, this means that the company has obtained all necessary board or shareholder approvals and has complied with relevant legal requirements before issuing the securities. This clause provides assurance to the receiving party that the instruments are legitimate and enforceable, thereby reducing the risk of future disputes over their validity.
Duly Authorized and Validly Issued. The Pledged Shares that are shares of a corporation have been duly authorized and validly issued and are fully paid and nonassessable, and the Pledged Shares that are membership interests or partnership units (if any) have been validly granted, under the laws of the jurisdiction of organization of the issuers thereof, and, to the extent applicable, are fully paid and nonassessable. No such membership or partnership interests constitute “securities” within the meaning of Article 8 of the UCC, and each Debtor covenants and agrees not to allow any such membership or partnership interest to become “securities” for purposes of Article 8 of the UCC.
Duly Authorized and Validly Issued. The Pledged Shares that are shares of a corporation have been duly authorized and validly issued and are fully paid and nonassessable, and the Pledged Shares that are membership interests or partnership units (if any) have been validly granted, under the laws of the jurisdiction of organization of the issuers thereof, and, to the extent applicable, are fully paid and nonassessable.
Duly Authorized and Validly Issued. The Pledged Shares have been validly issued under the laws of the Cayman Islands, and are fully paid and non-assessable.