Common use of Fully Paid and Non-Assessable Clause in Contracts

Fully Paid and Non-Assessable. Any Series A Conversion Unit(s) delivered pursuant to Section 5.11(c)(vii) shall be validly issued, fully paid and non-assessable (except as such non-assessability may be affected by the Xxxxxxxx Islands Act), free and clear of any liens, claims, rights or encumbrances other than those arising under the Xxxxxxxx Islands Act or this Agreement or created by the holders thereof.

Appears in 5 contracts

Samples: Limited Partnership Agreement (KNOT Offshore Partners LP), Series a Preferred Unit Purchase Agreement (KNOT Offshore Partners LP), Limited Partnership Agreement (KNOT Offshore Partners LP)

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Fully Paid and Non-Assessable. Any Series A Conversion Unit(s) delivered pursuant to Section 5.11(c)(vii) shall be validly issued, fully paid and non-assessable (except as such non-assessability may be affected by the Xxxxxxxx Mxxxxxxx Islands Act), free and clear of any liens, claims, rights or encumbrances other than those arising under the Xxxxxxxx Mxxxxxxx Islands Act or this Agreement or created by the holders thereof.

Appears in 2 contracts

Samples: Limited Partnership Agreement (KNOT Offshore Partners LP), Exchange Agreement (KNOT Offshore Partners LP)

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