Common use of Target Equity Clause in Contracts

Target Equity. Seller holds of record and owns beneficially the Target Equity set forth next to its name in Section 4(b) of the Disclosure Schedule, free and clear of any restrictions on transfer, taxes, Liens, options, warrants, purchase rights, contracts, commitments, equities, claims, and demands. Seller is not a party to any option, warrant, purchase right, or other contract or commitment (other than this Agreement or restrictions on transfer created by the Securities Act or blue sky or securities laws) that could require Seller to sell, transfer, or otherwise dispose of any Target Equity. Seller is not a party to any voting trust, proxy, or other agreement or understanding with respect to the voting of any Target Equity.