Common use of Exchange Shares Clause in Contracts

Exchange Shares. The Exchange Shares, when issued to the Stockholders pursuant to the Exchange, will be duly authorized, validly issued and outstanding, fully paid and non-assessable, and issued free and clear of any liens, other than those created by Governance Documents or arising under applicable securities laws.

Exchange Shares. The Exchange Shares, when issued to the Stockholders pursuant to the Exchange, will be Shares are duly authorized, validly issued and outstandingissued, fully paid and non-assessablenonassessable, and not issued in violation of any preemptive or similar rights. Upon the issuance and delivery to the Contributing Stockholders of the certificates representing the Exchange Shares, each Contributing Stockholder will acquire good and valid title to such shares, free and clear of any liensEncumbrances, other than those created by Governance Documents or arising restrictions under applicable securities laws.

Exchange Shares. The Exchange Shares, when issued to in accordance with the Stockholders pursuant to the Exchangeterms hereof, will be be, duly authorized, validly issued and outstandingissued, fully paid and non-assessable, and issued free and clear of any liens, other than those created by Governance Documents or arising under applicable securities lawsnonassessable.