Common use of Right to Dispose Clause in Contracts

Right to Dispose. The Masonite Securityholder is the sole registered and beneficial owner of the Employee Rollover Shares and the sole beneficial owner of the Employee Rollover Options, free and clear of all Encumbrances. The Masonite Securityholder has the exclusive right to dispose of the Employee Rollover Shares and the Employee Rollover Options as provided in this Agreement and such disposition will not violate, contravene, breach or offend against or result in any default under any contract, Laws or Governmental Authorizations to which the Masonite Securityholder is a party or subject or by which the Masonite Securityholder is bound or affected.