Authorization and Issuance of Units. The issuance by AD of the AD Units has been duly authorized by all necessary action on the part of AD and, upon issuance in accordance with the terms hereof, the AD Units will be validly issued, fully paid and non-assessable, free and clear of all liens.
Appears in 2 contracts
Sources: Exchange, Contribution and Distribution Agreement (Artistdirect Inc), Exchange, Contribution and Distribution Agreement (Artistdirect Inc)