Authorization of Issuance. The Manager has authorized the issuance and the sale of the Securities to the Investors. Upon the Closing, the Surviving Corporation shall issue the Securities set forth opposite such Investor’s name on Schedule C hereto to each Investor, and each such Investor shall be the record and beneficial holder of such Securities.
Appears in 3 contracts
Sources: Agreement and Plan of Conversion and Contribution (IMH Secured Loan Fund, LLC), Agreement and Plan of Conversion and Contribution (IMH Financial Corp), Agreement and Plan of Conversion and Contribution (IMH Secured Loan Fund, LLC)