arbitrator or any governmental entity, agency or official, except where the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or notifications, would not prevent or delay the performance by the Member of its obligations under this Agreement.
(c) The Membership Interests. Schedule A sets forth opposite the Member’s name, the number of Membership Interests and Warrants (as defined in the LLC Agreement) over which the Member has beneficial and record ownership as of the date hereof. As of the date of this Agreement, except as otherwise noted on Schedule A, the Member is the sole record or beneficial owner of the Membership Interests denoted as being owned by the Member on Schedule A, and has the sole power to direct the voting of such Membership Interests. If a Member is the beneficial owner, but not the holder of record, of any Membership Interests, such Member agrees to take all actions necessary to cause the holder of record and any nominees to take all actions required by this Agreement, including consenting and voting of all of such Membership Interests in accordance with this Agreement. As of the date of this Agreement, the Membership Interests represent all of the voting equity interests of the Company owned, beneficially or of record, by the Member. Except as set forth on Schedule A, neither the Member nor any controlled affiliate of the Member owns or holds any right to acquire any additional voting equity interests of the Company or other securities of the Company or any interest therein or any voting rights with respect thereto. The Member has good and valid title to the Membership Interests and the Warrants denoted as being owned by the Member on Schedule A, free and clear of any and all pledges, mortgages, liens, charges, proxies, voting agreements, encumbrances, adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those (i) created by this Agreement, (ii) pursuant to the LLC Agreement and (iii) any transfer restrictions that may apply under the Securities Act of 1933 (as amended) and “blue sky” laws.
Section 4. Representations and Warranties of Acquiror. Acquiror hereby represents and warrants to each Member as follows:
(a) Authority. (i) Acquiror is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation, (ii) has the legal capacity and all necessary power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions to be consummated by it as contemplated hereby, (iii) the execution and delivery of this Agreement by Acquiror and the consummation by Acquiror of the transactions to be consummated by it as contemplated hereby have been duly and validly authorized by all necessary corporate or other action, and no other corporate action or other proceedings on the part of Acquiror or any of its Affiliates are necessary to authorize this Agreement, to perform such obligations or to consummate such transactions contemplated hereby, and (iv) this Agreement has been duly and validly executed and delivered by Acquiror and, assuming the due authorization, execution and delivery by the Members, constitutes a legal, valid and binding obligation of Acquiror, enforceable against Acquiror in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium or other similar laws relating to creditors rights generally and by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).
(b) No Conflict. The execution and delivery of this Agreement by Acquiror does not, and the performance of its obligations under this Agreement by Acquiror and the consummation of the transactions to be consummated by Acquiror as contemplated hereby will not, (i) conflict with or violate the organizational documents of Acquiror, (ii) conflict with or violate any law, rule, regulation, order, judgment or decree applicable to Acquiror or by which any property or asset of Acquiror is bound or affected, (iii) result in any breach of or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a lien or encumbrance on any property or asset of Acquiror pursuant to, any note, bond, mortgage, indenture, contract, agreement, lease, license, permit, franchise or
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