Common use of Shares To Be Fully Paid and Nonassessable Clause in Contracts

Shares To Be Fully Paid and Nonassessable. All Shares issued upon the exercise of this Warrant shall be validly issued, fully paid and nonassessable and, if the Shares are then eligible for listing on any national securities exchanges (as defined in the Exchange Act), or quoted on Nasdaq, shall be duly listed or quoted thereon or application made therefor, as the case may be.