Common use of Qualifications, Legal Investment Clause in Contracts

Qualifications, Legal Investment. All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful sale and issuance of the Xxxxx Shares pursuant to this Agreement must have been duly obtained and must be effective on and as of the Closing. As of the Closing, no order enjoining the sale of the Xxxxx Shares may have been issued and no proceedings for such purpose may be pending or threatened by any governmental authority having jurisdiction over this transaction. At the time of the Closing, the sale and issuance of the Xxxxx Shares must be legally permitted by all laws and regulations to which the Purchaser and Xxxxx are subject.

Qualifications, Legal Investment. All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful sale and issuance of the Xxxxx USAD Shares pursuant to this Agreement must have been duly obtained and must be effective on and as of the Closing. As of the Closing, no order enjoining the sale of the Xxxxx USAD Shares may have been issued and no proceedings for such purpose may be pending or threatened by any governmental authority having jurisdiction over this transaction. At the time of the Closing, the sale and issuance of the Xxxxx USAD Shares must be legally permitted by all laws and regulations to which the Purchaser and Xxxxx USAD are subject.