Authority to Exchange. As of the date of this Agreement, the SELLING SHAREHOLDER holds 100% of the shares of Witnet common stock. Such shares are owned of record by the SELLING SHAREHOLDER and such shares are not subject to any lien, encumbrance or pledge. The SELLING SHAREHOLDER holds authority to exchange such shares pursuant to this Agreement. This Agreement is a valid and binding obligation the Selling Shareholders to exchange their shares of Witnet as provided for in this Agreement.
Appears in 2 contracts
Samples: Share Exchange Agreement (New Cinema Partners Inc), Share Exchange Agreement (New Cinema Partners Inc)