- Controlling no other cards is only a condition to activate the effect. You can still Special Summon even if you control another card when the effect resolves. 
- You still Special Summon the Tokens even if "Valkyrie" is no longer face-up on the field when her effect resolves. 
- ↑ 1.0 1.1 1.2 Konami Gameplay FAQ: Storm of Ragnarok -- Card Rulings (Version 1.0)
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