Common use of Ownership of the Company Clause in Contracts

Ownership of the Company. The Valero Energy Subsidiaries own 100% of the issued and outstanding Units in and are the sole members of the Company, as shown on Schedule III; such Units have been duly authorized and validly issued in accordance with the LLC Agreement and are fully paid (to the extent required by the LLC Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 18-607 of the Delaware Limited Liability Company Act (the “Delaware LLC Act”)); and the Valero Energy Subsidiaries own such Units free and clear of all liens, encumbrances, security interests, charges or claims.

Ownership of the Company. The Valero Energy Subsidiaries own 10059.4% of the issued and outstanding Units in and are the sole members of the Company, as shown on Schedule III; such Units have been duly authorized and validly issued in accordance with the limited liability company agreement of the Company (the "LLC Agreement Agreement"), and are fully paid (to the extent required by the LLC Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 18-607 of the Delaware Limited Liability Company Act (the “"Delaware LLC Act”")); and the Valero Energy Subsidiaries own such Units free and clear of all liens, encumbrances, security interests, charges or claims.

Ownership of the Company. The Valero Energy Subsidiaries own 10059.4% of the issued and outstanding Units in and are the sole members of the Company, as shown on Schedule III; such Units have been duly authorized and validly issued in accordance with the limited liability company agreement of the Company (the “LLC Agreement Agreement”), and are fully paid (to the extent required by the LLC Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 18-607 of the Delaware Limited Liability Company Act (the “Delaware LLC Act”)); and the Valero Energy Subsidiaries own such Units free and clear of all liens, encumbrances, security interests, charges or claims.