Valid Capital Stock Clause Samples

Valid Capital Stock. All of the issued shares of capital stock of the Delaware Subsidiaries have been duly authorized and validly issued, are fully paid and non-assessable and, except as otherwise disclosed in the Disclosure Package and the Prospectus, are owned directly or indirectly by the Company, in each case subject to no security interest, other encumbrance or adverse claim (A) in respect of which a financing statement under the Uniform Commercial Code of the States of Delaware, Louisiana or Texas naming such subsidiary as a debtor is on file as of a recent date in the office of the Secretary of State of the States of Delaware, Louisiana or Texas or (B) otherwise known to us, without independent investigation, in each case, other than liens in connection with the First Lien Facility.