Valid Interests. (i) The membership interests in MWCI being contributed by NHC to the Company on the Initial Closing Date are, on such date, conveyed free and clear of any Liens except for obligations imposed on the members of MWCI under the operating agreement for MWCI. (ii) The Class B Membership Interests being conveyed by Holdings to Investor on the Initial Closing Date will constitute Membership Interests in the Company, and on such date are being conveyed free and clear of any Liens except for obligations imposed on members of the Company under the Company LLC Agreement.
Appears in 2 contracts
Sources: Equity Contribution and Purchase Agreement (First Wind Holdings Inc.), Equity Contribution and Purchase Agreement (First Wind Holdings Inc.)