Common use of The Exchange Securities Clause in Contracts

The Exchange Securities. On the Closing Date, the Exchange Securities (including the related Parent Guarantee) will have been duly authorized by the Company and the Parent and, when duly executed, authenticated, issued and delivered as contemplated by the Registration Rights Agreement, will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company, as issuer, and the Parent, as guarantor, enforceable against the Company and the Parent in accordance with their terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting rights and to general equity principles, and will be entitled to the benefits of the Indenture.