Ownership of Equity. (a) Such Member has good and valid title to and beneficial ownership of the number of Membership Interests of the Company set forth next to such Member’s name on Annex A, and such Membership Interests are (i) validly issued, fully paid, and nonassessable, and (ii) free and clear of all Encumbrances. (b) Other than the Membership Interests listed on Annex A, such Member owns no Equity Security of the Company or any subsidiary, or any Option to have any such Equity Security issued.
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement (CLS Holdings USA, Inc.), Membership Interest Purchase Agreement
Ownership of Equity. (a) Such Member has good and valid title to and beneficial ownership of the number of Membership Interests of the Company set forth next to such Member’s name on Annex A, and such Membership Interests are (i) validly issued, fully paid, and nonassessable, and (ii) free and clear of all EncumbrancesLiens.
(b) Other than the Membership Interests listed on Annex A, such Member owns no Equity Security of the Company or any subsidiarySubsidiary, or any Option to have any such Equity Security issued.
Appears in 2 contracts
Samples: Membership Interest Purchase Agreement, Membership Interest Purchase Agreement (McBc Holdings, Inc.)
