Common use of Ownership of Membership Interest Clause in Contracts

Ownership of Membership Interest. (a) The Sellers are the legal, beneficial, record, and equitable owners of the Membership Interest, free and clear of all Encumbrances whatsoever. The Membership Interest constitutes, in the aggregate, forty percent (40%) of the issued and outstanding equity interests in the Company and is the only remaining equity interests in the Company not owned by the Buyer. There are no outstanding warrants, options, agreements or any other instruments that give any Person the right to purchase, subscribe for or otherwise acquire any equity interests in the Company.

Ownership of Membership Interest. (a) The Sellers are the sole legal, beneficial, record, and equitable owners of the Membership Interest, free and clear of all Encumbrances whatsoever. The Membership Interest constitutes, in the aggregate, forty percent (40%) constitutes 100% of the issued and outstanding equity interests in the Company and is the only remaining equity interests in the Company not owned by the BuyerCompany. There are no outstanding warrants, options, agreements or any other instruments that give any Person the right to purchase, subscribe for or otherwise acquire any equity interests in the Company.

Ownership of Membership Interest. (a) The Sellers are Seller is the sole legal, beneficial, record, and equitable owners owner of the Membership Interest, free and clear of all Encumbrances whatsoever. The Membership Interest constitutes, in the aggregate, forty percent (40%) constitutes 60% of the issued and outstanding equity interests in the Company and is the only remaining equity interests in the Company not owned by the BuyerCompany. There are no outstanding warrants, options, agreements or any other instruments that give any Person the right to purchase, subscribe for or otherwise acquire any equity interests in the Company.