Common use of Status of the Shares Clause in Contracts

Status of the Shares. The Shareholders are the lawful owners of all of the shares of the common stock of the Company, and the Shareholders have valid marketable title thereto, free and clear of all liens, pledges, encumbrances, restrictions on transfer, claims and equities of every kind. Except for this Agreement, there are no outstanding warrants, options or rights of any kind to acquire from the Shareholders any of the shares of the Company’s common stock held by the Shareholders.

Status of the Shares. The Shareholders are Shareholder is the lawful owners owner of all of the shares of the common stock of the Company, and the Shareholders have Shareholder has valid marketable title thereto, free and clear of all liens, pledges, encumbrances, restrictions on transfer, claims and equities of every kind. Except for this Agreement, there are no outstanding warrants, options or rights of any kind to acquire from the Shareholders Shareholder any of the shares of the Company’s common stock held by the ShareholdersShareholder.