Valid Issuance of the Shares. At each Settlement Date and each Time of Delivery, if any, the Shares to be issued and sold on such date will be duly authorized by the Company and, when issued and delivered to the Manager simultaneously with payment therefor in accordance with the terms hereof, will be (i) validly issued, (ii) not subject to any preemptive right, resale right, right of first refusal or similar right, (iii) fully paid and nonassessable, and (iv) will conform to the description thereof in the Registration Statement and the Prospectus.
Appears in 3 contracts
Samples: Terms Agreement (Teekay Corp), Terms Agreement (Teekay Corp), Terms Agreement (Teekay Corp)
Valid Issuance of the Shares. At each Settlement Date and each Time of Delivery, if any, the Shares to be issued and sold on such date will be duly authorized by the Company and, when issued and delivered to the Manager simultaneously with payment therefor in accordance with the terms hereof, will be (i) validly issued, (ii) not subject to any preemptive right, resale right, right of first refusal or similar right, (iii) fully paid and nonassessable, and (iv) will conform to the description thereof in the Registration Statement and the Prospectus.
Appears in 2 contracts
Samples: Terms Agreement (Teekay Tankers Ltd.), Teekay Tankers Ltd.
Valid Issuance of the Shares. At each Settlement Date and each Time of Delivery, if any, the Shares to be issued and sold on such date will be duly authorized by the Company and, when issued and delivered to the applicable Manager simultaneously with payment therefor in accordance with the terms hereof, will be (i) validly issued, (ii) fully paid and non-assessable; and the issuance of the Shares is not subject to any preemptive right, resale right, right of first refusal or similar right, (iii) fully paid and nonassessable, and (iv) will conform to the description thereof in the Registration Statement and the Prospectusrights.
Appears in 2 contracts
Samples: Terms Agreement (International Seaways, Inc.), Terms Agreement (International Seaways, Inc.)
Valid Issuance of the Shares. At each Settlement Date and each Time of Delivery, if any, the Shares to be issued and sold on such date will be duly authorized by the Company and, when issued and delivered to the Manager simultaneously with payment therefor in accordance with the terms hereof, will be (i) validly issued, (ii) fully paid and nonassessable; and the issuance of the Shares is not subject to any preemptive right, resale right, right of first refusal or similar right, (iii) fully paid and nonassessable, and (iv) will conform to the description thereof in the Registration Statement and the Prospectusrights.
Appears in 1 contract
Samples: Terms Agreement (Dorian LPG Ltd.)