Common use of Ownership of and Title to Securities Clause in Contracts

Ownership of and Title to Securities. The Warrant Shares, if issued, will be, duly authorized, validly issued, fully paid and nonassessable shares of the capital stock of the Company, free of personal liability. Upon consummation of the issuance of the Warrants (and upon the exercise of the Warrants, in whole or in part) pursuant to this Agreement, the Holder will own and acquire title to the Warrants (and the Warrant Shares, as the case may be) free and clear of any and all proxies, voting trusts, pledges, options, restrictions, or other legal or equitable encumbrance of any nature whatsoever (other than the restrictions on transfer due to federal and state securities laws or as otherwise provided for in this Agreement or in the Warrants).