Common use of Subsidiary Shares Clause in Contracts

Subsidiary Shares. Debtor has delivered to Secured Party all certificates evidencing Subsidiary Shares. All such certificates are valid and genuine and have not been altered. All shares, units and other securities constituting the Subsidiary Shares have been duly authorized and validly issued, are fully paid and non-assessable, and were not issued in violation of the preemptive rights of any Person or of any agreement by which Debtor or the Issuer thereof is bound. All documentary, stamp or other taxes or fees owing in connection with the issuance, transfer or pledge of Subsidiary Shares (or rights in respect thereof) have been paid. No restrictions or conditions exist with respect to the transfer, voting or capital of any Subsidiary Shares. The Subsidiary Shares constitute the percentage of the class of issued shares of capital stock which is indicated on Exhibit B. No Issuer of any Subsidiary Shares has any outstanding stock rights, rights to subscribe, options, warrants or convertible securities outstanding or any other rights outstanding whereby any Person would be entitled to have issued to him capital stock of such Issuer.