Common use of Ownership of Seller's Stock Clause in Contracts

Ownership of Seller's Stock. The Stockholders are the sole and exclusive record and beneficial owners of all of the outstanding shares of the capital stock of the Seller, and constitute all of the directors and officers of the Seller. The Stockholders have the absolute and unconditional right, power and authority to cause the Seller to sell, assign, transfer and deliver the Assets to the Purchaser in accordance with the terms of this Agreement, to consummate the transactions contemplated hereby and to enter into the Consulting and Noncompetition Agreements.

Ownership of Seller's Stock. The Stockholders Shareholders are the sole and exclusive record and beneficial owners of all of the outstanding shares of the capital stock of the Seller, and constitute all of the directors and officers of the Seller. The Stockholders Shareholders have the absolute and unconditional rightduly approved Seller's sale, power and authority to cause the Seller to sell, assignassignment, transfer and deliver delivery of the Assets to the Purchaser in accordance with the terms of this Agreement, to consummate the consummation of all the transactions contemplated hereby and to enter Seller entering into the Consulting and Noncompetition AgreementsAgreement.