Common use of Organization and Authority of the Purchaser Clause in Contracts

Organization and Authority of the Purchaser. Each of the Purchasers identified as an entity on Exhibit E (collectively, the “Corporate Purchasers”) is a company duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation. Each of the Corporate Purchasers has all necessary power and authority to enter into this Agreement, to carry out its obligations hereunder and to consummate the Transactions (including entering into the Warrant Agreements and the Registration Rights Agreement). The execution and delivery of this Agreement by the each of the Corporate Purchasers, the performance by each of the Corporate Purchasers of its obligations hereunder and the consummation by each of the Corporate Purchasers of the Transactions (including entering into the Warrant Agreements and the Registration Rights Agreement) have been duly authorized by all requisite action on the part of each of the Corporate Purchasers. This Agreement has been duly executed and delivered by each of the Corporate Purchasers, and (assuming due authorization, execution and delivery by the Company) this Agreement constitutes a legal, valid and binding obligation of each of the Corporate Purchasers enforceable against each of the Corporate Purchasers in accordance with its terms.