Common use of Authorization of the Preferred Stock Clause in Contracts

Authorization of the Preferred Stock. The Preferred Stock represented by the Shares has been duly authorized and, when the Shares are issued and delivered against payment of the Purchase Price therefor pursuant to this Agreement, the Preferred Stock will be validly issued, fully paid and non-assessable and not subject to any preemptive or similar rights, and will have the rights set forth in the Certificate of Designations for the Preferred Stock.

Authorization of the Preferred Stock. The shares of Preferred Stock represented to be issued by the Shares has Company to the Trust under the Stock Purchase Contracts on the Stock Purchase Date have been duly and validly authorized and, when the Shares are issued and delivered against payment therefor as provided in the Stock Purchase Contract Agreement and as provided in the Company’s Articles of the Purchase Price therefor pursuant to this AgreementOrganization, the Preferred Stock will be duly and validly issued, fully paid and non-assessable and not subject will conform in all material respects to any preemptive or similar rights, and will have the rights set forth descriptions thereof in the Certificate of Designations for General Disclosure Package and the Preferred StockFinal Prospectus.

Authorization of the Preferred Stock. The shares of Preferred Stock represented by the Shares has to be sold pursuant to this Agreement have been duly authorized by the Company for issuance and sale pursuant to this Agreement and, when the Shares are issued and delivered by the Company against payment of the Purchase Price therefor pursuant to this Agreement, the Preferred Stock will be validly issued, fully paid and non-assessable nonassessable, and the issuance and sale of such shares of Preferred Stock is not subject to any preemptive or similar rights, and will have the rights set forth in the Certificate of Designations first refusal or other similar rights to subscribe for the or purchase such shares of Preferred Stock.

Authorization of the Preferred Stock. The shares of Preferred Stock represented by the Shares has have been duly authorized by the Company for issuance and sale pursuant to this Agreement and, when the Shares are issued and delivered by the Company against payment for the shares of the Purchase Price therefor Preferred Stock pursuant to this Agreement, the Preferred Stock will be validly issued, fully paid and non-assessable nonassessable, and the issuance and sale of the shares of Preferred Stock will not subject to any preemptive or similar rights, and will have the rights set forth in the Certificate of Designations first refusal or other similar rights to subscribe for or purchase the Preferred Stock.