Common use of Ownership of Membership Interests Clause in Contracts

Ownership of Membership Interests. The Members are the sole record and beneficial owners of the Membership Interests, all of which Membership Interests are owned free and clear of all Liens, and have not been sold, pledged, assigned or otherwise transferred except pursuant to this Agreement. There are no outstanding subscriptions, rights, options, warrants or other agreements obligating the Members to sell or transfer to any third person any of the Membership Interests owned by the Members, or any interest therein. The Members have full power and authority to exchange, transfer and deliver to Buyer the Membership Interests.

Ownership of Membership Interests. The Members are Member is the sole record and beneficial owners owner of the Membership Interests, all of which Membership Interests are owned free and clear of all Liens, and have not been sold, pledged, assigned or otherwise transferred except pursuant to this Agreement. There are no outstanding subscriptions, rights, options, warrants or other agreements obligating the Members Member to sell or transfer to any third person any of the Membership Interests owned by the MembersMember, or any interest therein. The Members have Member has full power and authority to exchange, transfer and deliver to Buyer the Membership Interests.