Common use of Exchange Shares Clause in Contracts

Exchange Shares. As of the Closing, all of the Exchange Shares shall be duly authorized, validly issued, fully paid and nonassessable, and not issued in violation of any preemptive or similar rights. Upon delivery to the Company of the certificates representing the Exchange Shares, the Stockholders will acquire good and valid title to such shares, free and clear of any Encumbrances, other than restrictions under applicable securities laws.

Exchange Shares. As of the Closing, all of the Exchange Shares shall be duly authorized, validly issued, fully paid and nonassessable, and not issued in violation of any preemptive or similar rights. Upon delivery to the Company SCI Stockholder of the certificates representing the Exchange SharesShares at the Closing, the Stockholders SCI Stockholder will acquire good and valid title to such shares, free and clear of any Encumbrances, other than restrictions under applicable securities laws.

Exchange Shares. As of the ClosingUpon their issuance, all of the Exchange Shares shall be duly authorized, validly issued, fully paid paid, and nonassessable, and not issued in violation of any preemptive or similar rights. Upon delivery to the Company Stockholders of the certificates representing the Exchange SharesShares at the Closing, the Stockholders will acquire good and valid title to such shares, free and clear of any Encumbrances, other than restrictions under applicable securities laws.