Common use of Inability to Obtain Authorization Clause in Contracts

Inability to Obtain Authorization. The inability of Xxxxxx to obtain authority from any regulatory body having jurisdiction, which authority is deemed by Xxxxxx’x counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve Xxxxxx of any liability with respect to the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

Inability to Obtain Authorization. The inability of Xxxxxx to obtain authority from any regulatory body having jurisdiction, which authority is deemed by Xxxxxx’x counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve Xxxxxx of any liability with respect to the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.. Xxxxxx Associates 3