VALIDITY OF REIT SHARES AND OP UNITS. The REIT Shares to be issued pursuant to this Agreement will have been duly authorized by the REIT and, when issued against the consideration therefor, will be validly issued, fully paid and non-assessable and free and clear of all Liens created by the REIT (other than Liens created by the charter of the REIT). The OP Units to be issued pursuant to this Agreement will have been duly authorized and, when issued against the consideration therefor, will be validly issued by the Operating Partnership, free and clear of all Liens created by the Operating Partnership (other than any Liens created by the Operating Partnership Agreement).
Appears in 10 contracts
Samples: Contribution Agreement (Silver Bay Realty Trust Corp.), Contribution Agreement (Silver Bay Realty Trust Corp.), Merger Agreement (Silver Bay Realty Trust Corp.)
