Common use of Duly and Validly Issued Clause in Contracts

Duly and Validly Issued. All of the shares of the Trust Interests have been duly and validly issued and, if capital stock of a corporation, are fully paid and nonassessable.

Duly and Validly Issued. All of the shares of the Trust Subsidiary Interests have been duly and validly issued and, if capital stock Capital Stock of a corporationtrust, are fully paid and nonassessable.