Common use of Capitalization; Title to Shares Clause in Contracts

Capitalization; Title to Shares. Crosstex’s authorized Capital Stock consists of five hundred thousand (500,000) shares of common stock, par value $.01 per share (“Crosstex Stock”), of which 120,592 shares are issued and outstanding as of the date hereof. No other class of Capital Stock of Crosstex is authorized or outstanding. All of the issued and outstanding shares of Crosstex Stock are (i) owned by Xxxx Xxxxxxxxx, Xxxxxxx Xxxxx Xxxxxxx, Xxxxx Xxxxxxx Xxxxxxx, Xx., Xxxxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxxxx-Xxxxxx (collectively, the “Shareholders”) and (ii) duly authorized and are legally and validly issued, fully paid and nonassessable. Seller is the beneficial and record owner of 29,377 shares of Crosstex Stock, all of which constitutes the Shares hereunder. Seller and each of the other Shareholders owns good and valid title to his or her shares of Crosstex Stock free and clear of all Liens whatsoever, with full power and authority to transfer and convey the same. Seller will convey to Purchaser at the Closing, good, valid and marketable title to the Shares free and clear of all Liens whatsoever, other than restrictions on transfer under federal or state securities laws.

Capitalization; Title to Shares. Crosstex’s authorized Capital Stock consists of five hundred thousand (500,000) shares of common stock, par value $.01 per share (“Crosstex Stock”), of which 120,592 shares are issued and outstanding as of the date hereof. No other class of Capital Stock of Crosstex is authorized or outstanding. All of the issued and outstanding shares of Crosstex Stock are (i) owned by Xxxx Xxxxxxxxx, Xxxxxxx Xxxxx Xxxxxxx, Xxxxx Xxxxxxx Xxxxxxx, Xx., Xxxxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxxxx-Xxxxxx (collectively, the “Shareholders”) and (ii) duly authorized and are legally and validly issued, fully paid and nonassessable. Seller is the beneficial and record owner of 29,377 45,842 shares of Crosstex Stock, all of which constitutes the Shares hereunder. Seller and each of the other Shareholders owns good and valid title to his or her shares of Crosstex Stock free and clear of all Liens whatsoever, with full power and authority to transfer and convey the same. Seller will convey to Purchaser at the Closing, good, valid and marketable title to the Shares free and clear of all Liens whatsoever, other than restrictions on transfer under federal or state securities laws.

Capitalization; Title to Shares. Crosstex’s authorized Capital Stock consists of five hundred thousand (500,000) shares of common stock, par value $.01 per share (“Crosstex Stock”), of which 120,592 shares are issued and outstanding as of the date hereof. No other class of Capital Stock of Crosstex is authorized or outstanding. All of the issued and outstanding shares of Crosstex Stock are (i) owned by Xxxx Xxxxxxxxx, Xxxxxxx Xxxxx Xxxxxxx, Xxxxx Xxxxxxx Xxxxxxx, Xx., Xxxxxxxx Xxxxxxxxx and Xxxxxx Xxxxxxxxx-Xxxxxx (collectively, the “Shareholders”) and (ii) duly authorized and are legally and validly issued, fully paid and nonassessable. Seller is the beneficial and record owner of 29,377 14,454 shares of Crosstex Stock, all of which constitutes the Shares hereunder. Seller and each of the other Shareholders owns good and valid title to his or her shares of Crosstex Stock free and clear of all Liens whatsoever, with full power and authority to transfer and convey the same. Seller will convey to Purchaser at the Closing, good, valid and marketable title to the Shares free and clear of all Liens whatsoever, other than restrictions on transfer under federal or state securities laws.