Stock of the Borrower Clause Samples
The 'Stock of the Borrower' clause defines what is meant by the term 'stock' as it relates to the borrowing entity within the agreement. Typically, this clause clarifies whether the term includes all classes of shares, such as common and preferred stock, and may specify if it covers both issued and outstanding shares. By providing a clear definition, the clause ensures that all parties have a mutual understanding of what constitutes the borrower's stock, thereby preventing ambiguity in the interpretation of rights, obligations, or restrictions related to equity interests in the borrower.
POPULAR SAMPLE Copied 1 times
Stock of the Borrower. As of the Closing Date, the entire authorized capital stock of the Borrower consists of Common Stock, 39,374,044 shares; all of which are duly and validly issued and outstanding, fully paid and nonassessable as of the Closing Date. The issuance and sale of such Stock of the Borrower of the Borrower either (i) has been registered under applicable federal and state securities laws or (ii) was issued pursuant to an exemption therefrom. The Borrower meets the requirements for taxation as a REIT under the Code.
Stock of the Borrower. As of June 30, 2008, the entire outstanding capital stock of the Borrower consists of (i) Series C Cumulative Convertible Preferred Stock, 2,000,000 shares; (ii) Series E Cumulative Convertible Preferred Stock, 70,835 shares; (iii) Series F Cumulative Preferred Stock, 6,003,700 shares; and (iv) Common Stock, 23,091,225 shares; all of which are duly and validly issued and outstanding, fully paid and nonassessable as of the Effective Date. The issuance and sale of such Stock of the Borrower either (i) has been registered under applicable federal and state securities laws or (ii) was issued pursuant to an exemption therefrom. The Borrower meets the requirements for taxation as a REIT under the Code.
Stock of the Borrower. In the case of Holding (i) on the date on which the Merger is consummated deliver to the Administrative Agent a pledge agreement in form and substance satisfactory to the Required Lenders (together with each other pledge agreement delivered pursuant to Section 5.01(p), in each case as amended, supplemented or otherwise modified from time to time in accordance with its terms, the "Pledge Agreement"), duly executed by Holding, together with (x) acknowledgment copies or stamped receipt copies of proper financing statements, duly filed under the Uniform Commercial Code in all jurisdictions that the Administrative Agent may deem necessary or desirable in order to perfect and protect the liens and security interests created under the Pledge Agreement, covering the Collateral described in the Pledge Agreement and (y) completed requests for information listing the financing statements referred to in clause (x) and all other effective financing statements filed in the jurisdictions referred to in clause (x) that name Holding as debtor, together with copies of such other financing statements and (ii) on the date on which the Merger is consummated or, if the Bridge Notes are issued on the date on which the Merger is consummated, the date on which the Bridge Notes are paid in full, deliver to the Administrative Agent pursuant to the terms of the Security Agreement certificates representing all of the outstanding capital stock of the Borrower accompanied by undated stock powers executed in blank.
Stock of the Borrower. All shares of capital stock of the Borrower and each Subsidiary have been duly authorized and validly issued and are fully paid and non-assessable. Except as disclosed on EXHIBIT 6.1-2 and as otherwise permitted by this Agreement (i) no authorized but unissued or treasury share of capital stock of the Borrower or any Subsidiary is subject to any option, warrant, right to call or commitment of any kind or character, (ii) neither the Borrower nor any Subsidiary has any outstanding stock or securities convertible into or exchangeable for any shares of its capital stock, or any rights issued to any Person (either preemptive or other) to subscribe for or to purchase, or any options or warrants for the purchase of, or any agreements providing for the issuance (contingent or otherwise) of, or any calls, commitments or claims of any character relating to any of its capital stock or any stock or securities convertible into or exchangeable for any of its capital stock, and (iii) neither the Borrower nor any Subsidiary is subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its capital stock or any convertible securities, rights, warrants or options of the type described in the clause (ii) above.
Stock of the Borrower. As of the Closing Date, the entire authorized capital stock of the Borrower consists of (i) Series F Cumulative Preferred Stock, 3,536,530 shares; (ii) Series C Cumulative Convertible Preferred Stock, 2,000,000 shares; and (iii) Common Stock, 30,334,574 shares; all of which are duly and validly issued and outstanding, fully paid and nonassessable as of the Closing Date. The issuance and sale of such Stock of the Borrower of the Borrower either (i) has been registered under applicable federal and state securities laws or (ii) was issued pursuant to an exemption therefrom. The Borrower meets the requirements for taxation as a REIT under the Code.
Stock of the Borrower. The Pledgor represents that it is the registered and beneficial owner of the shares and percentage of the capital stock of the Borrower set forth on Schedule 1 hereto, which stock is owned free and clear of all liens, warrants, options, rights to purchase, rights of first refusal and other interests of any person other than CoBank. The outstanding capital stock of the Borrower has been duly authorized and is validly issued, fully paid and non-assessable.
Stock of the Borrower. As of the Closing Date, the entire authorized capital stock of the Borrower consists of (i) Series C Cumulative Convertible Preferred Stock, 2,000,000 shares; and (ii) Common Stock, 34,844,551 shares; all of which are duly and validly issued and outstanding, fully paid and nonassessable as of the Closing Date. The issuance and sale of such Stock of the Borrower of the Borrower either (i) has been registered under applicable federal and state securities laws or (ii) was issued pursuant to an exemption therefrom. The Borrower meets the requirements for taxation as a REIT under the Code.
Stock of the Borrower. As of the Effective Date, the entire authorized capital stock of the Borrower consists of (i) Series A Cumulative Preferred Stock, 3,064,200 shares; (ii) Series B Cumulative Preferred Stock, 1,988,000 shares; (iii) Series C Cumulative Convertible Preferred Stock, 2,000,000 shares; (iv) Series E Cumulative Convertible Preferred Stock, 2,200,000 shares; (v) Common Stock, 17,800,751 shares; all of which are duly and validly issued and outstanding, fully paid and nonassessable as of the Effective Date. The issuance and sale of such Stock of the Borrower of the Borrower either (i) has been registered under applicable federal and state securities laws or (ii) was issued pursuant to an exemption therefrom. The Borrower meets the requirements for taxation as a REIT under the Code.
Stock of the Borrower. All outstanding capital Stock of the Borrower has been duly and validly authorized and issued, and all such outstanding Stock is fully paid and nonassessable and held of record by the Guarantor.