Common use of Authorization of Warrant Shares Clause in Contracts

Authorization of Warrant Shares. DOC covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). Upon exercise in accordance with this Warrant, DOC will transfer to the Holder good and marketable title to such Warrant Shares, free and clear of any Liens.