Authorization of Preferred Stock. The Preferred Stock has been duly authorized and, when issued and sold as contemplated by the Prospectus and upon payment therefor as provided in this Agreement and the Prospectus, will be validly issued, fully paid and nonassessable and will conform in all material aspects to the description thereof contained in the Prospectus.
Appears in 3 contracts
Samples: Dealer Manager Agreement (Prospect Capital Corp), Dealer Manager Agreement (Prospect Capital Corp), Dealer Manager Agreement (Preferred Apartment Communities Inc)