Common use of Securities Ownership Clause in Contracts

Securities Ownership. As of the Closing, the Affiliate owns the common stock to be deposited hereunder in the amounts set forth on Schedule 1, attached hereto (i) as the sole record and beneficial owner, free from all taxes, liens, claims, encumbrances and charges and there are no outstanding rights, options, subscriptions or other agreements or commitments obligating the Affiliate to sell or transfer such common stock and such common stock are not subject to any lock-up or other restriction on their transfer or on the ability of the Investor to sell or transfer such common stock. As of the Closing, the Affiliate shall have paid any and all amounts and charges due and owing to the Company with respect to the common stock and there shall be no unpaid amounts or charges claimed to be due to the Company from the Affiliate with respect to the common stock.

Securities Ownership. As of the Closing, the Affiliate Affiliates owns the common stock to be deposited hereunder in the amounts set forth on Schedule 1, attached hereto (i) as the sole record and beneficial owner, free from all taxes, liens, claims, encumbrances and charges and there are no outstanding rights, options, subscriptions or other agreements or commitments obligating the Affiliate Affiliates to sell or transfer such common stock and such common stock are not subject to any lock-up or other restriction on their transfer or on the ability of the Investor to sell or transfer such common stock. As of the Closing, the Affiliate Affiliates shall have paid any and all amounts and charges due and owing to the Company with respect to the common stock and there shall be no unpaid amounts or charges claimed to be due to the Company from the Affiliate Affiliates with respect to the common stock.