Common use of PMT Common Stock Clause in Contracts

PMT Common Stock. The issuance and delivery by PMT of shares of PMT Common Stock in connection with the Merger and this Agreement have been duly and validly authorized by all necessary corporate action on the part of PMT. The shares of PMT Common Stock to be issued in connection with the Merger and this Agreement, when issued in accordance with the terms of this Agreement, will be validly issued, fully paid and nonassessable.

PMT Common Stock. The issuance and delivery by PMT of shares of PMT Common Stock in connection with the Merger and this Agreement have been duly and validly authorized by all necessary corporate action on the part of PMT. The shares of PMT Common Stock to be issued in connection with the Merger and this Agreement, when issued in accordance with the terms of this Agreementhereof, will be validly issued, fully paid and nonassessable.

PMT Common Stock. The issuance and delivery by PMT of shares of PMT Common Stock in connection with the Merger and this Agreement have been duly and validly authorized by all necessary corporate action on the part of PMT. The shares of PMT Common Stock to be issued in connection with the Merger and this Agreement, when issued in accordance with the terms of this Agreementhereof, will be validly issued, fully paid and nonassessablenonassessable and shall be free and clear of any liens and encumbrances other than the restrictions described in this Agreement.