Common use of Authorization of Preferred Stock Clause in Contracts

Authorization of Preferred Stock. The issuance of the Preferred Stock, as well as the shares of Conversion Stock, has been duly authorized by all necessary corporate action of the Buyer. Upon the issuance of the Preferred Stock pursuant to this Agreement, and upon the issuance of shares of Conversion Stock, such Preferred Stock and/or Conversion Stock, as the case may be, shall be validly issued, fully paid and non-assessable.

Authorization of Preferred Stock. The issuance of the Preferred Stock, as well as the shares of Conversion Common Stock issuable upon conversion of the Preferred Stock, has been duly authorized by all necessary corporate action of the Buyer. Upon the issuance of the Preferred Stock pursuant to this Agreement, and upon the issuance of shares of Conversion Common Stockupon conversion of any of the Preferred Stock, such Preferred Stock and/or Conversion Common Stock, as the case may be, shall be validly issued, fully paid and non-assessable.

Authorization of Preferred Stock. The issuance of the Preferred Stock, as well as the shares of Conversion Common Stock issuable upon conversion of the Preferred Stock, has been duly authorized by all necessary corporate action of the Buyer. Upon the issuance of the Preferred Stock pursuant to this Agreement, and upon the issuance of shares of Conversion Common Stock upon conversion of any of the Preferred Stock, such Preferred Stock and/or Conversion Common Stock, as the case may be, shall be validly issued, fully paid and non-assessable.