Common use of Pledgor’s Representations and Warranties Clause in Contracts

Pledgor’s Representations and Warranties. The Pledgor represents and warrants to the Secured Party that: (a) The Shares are validly issued, fully paid, and nonassessable. The Pledgor is the sole owner of the Shares, free and clear of any and all liens or encumbrances, and will defend the same against all claims and demands of all persons. (b) The Pledgor has a good right to transfer and pledge the Shares as provided in this Agreement, and neither such pledge nor any transfer of the Shares following a default is restricted by any buy-sell agreement or other restriction on transfer of the Shares and neither such pledge nor such transfer will give rise to any rights in the Shares on behalf of any third party.