Common use of Authorization of Common Shares Clause in Contracts

Authorization of Common Shares. The Common Shares to be issued upon the exercise of the Warrants have been duly authorized for issuance by the Company and, when duly issued and delivered by the Company against payment therefor in accordance with the Warrant, will be duly and validly issued, fully paid and nonassessable, and the issuance thereof will not be subject to any preemptive or other similar rights.

Authorization of Common Shares. The Common Shares to be issued upon the exercise of the Warrants pursuant to this Subscription Agreement have been duly authorized for issuance by the Company and, when duly issued and delivered by the Company against payment therefor in accordance with the Warrantthis Subscription Agreement, will be duly and validly issued, fully paid and nonassessable, and the issuance thereof will not be subject to any preemptive or other similar rights.