Title to Old Exchange Shares. As of the date hereof, the Shareholder is the sole and exclusive record owner of 70,612,031 shares of Series A Preferred Stock and 24,798,816 shares of the Series C Preferred Stock. After the release of the Additional Old Preferred Shares in accordance with Section 1.1 and immediately prior to the Closing, the Shareholder will be the sole and exclusive record owner of all of the Old Exchange Shares, free and clear of any Liens (other than transfer restrictions imposed by applicable securities laws or as set forth in the Company’s Charter). The Exchange provided for herein will vest in the Company absolute title to all of the Old Exchange Shares, free and clear of any and all Liens.
Appears in 5 contracts
Samples: Preferred Share Exchange Agreement (Newhouse Broadcasting Corp), Voting Agreement (Newhouse Broadcasting Corp), Rights Agreement (Discovery Communications, Inc.)
