Common use of Ownership of the Borrower Clause in Contracts

Ownership of the Borrower. HDCC owns, directly or indirectly, 100% of the issued and outstanding capital stock of the Borrower. Such capital stock is validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to acquire securities of the Borrower.

Ownership of the Borrower. HDCC owns, directly or indirectly, 100% of the issued and outstanding capital stock of the Borrower, free and clear of any Adverse Claim (other than any non-consensual UCC financing statements of which the Servicer is not presently aware). Such capital stock is validly issued, fully paid and nonassessable, and there are no options, warrants or other rights to acquire securities of the Borrower.