Common use of LLC Units Clause in Contracts

LLC Units. The LLC Units, when issued and delivered pursuant to this Agreement will be duly authorized, validly issued, fully paid, nonassessable and free of preemptive rights. When issued and delivered pursuant to this Agreement, CTU will receive good title to such LLC Units, free and clear of all liens, security interests, pledges, charges, Encumbrances, members' agreements (other than the operating agreement delivered to CTU) and voting trusts.

LLC Units. The LLC Units, when issued and delivered pursuant to this Agreement will be duly authorized, validly issued, fully paid, nonassessable and free of preemptive rights. When issued and delivered pursuant to this Agreement, CTU will receive good title to such LLC Units, free and clear of all liens, security interests, pledges, charges, Encumbrances, members' members agreements (other than the operating agreement delivered to CTU) and voting trusts.