Common use of Valid Interests Clause in Contracts

Valid Interests. Upon execution and delivery by Southern, DSGH and AGM of the LLC Agreement and, if not the same day, on the Effective Date, the Class C Membership Interests will constitute membership interests in the Company, and are being issued free and clear of any Liens except for obligations imposed on members of the Company under the LLC Agreement.

Valid Interests. Upon execution and delivery by Southern, Southern and DSGH and AGM of the LLC Agreement and, if not the same day, on the Effective Date, the Class C B Membership Interests will constitute membership interests in the Company, and are being issued free and clear of any Liens except for obligations imposed on members of the Company under the LLC Agreement.