Common use of Underlying Securities Clause in Contracts

Underlying Securities. (a) The issuance of the Underlying Securities upon conversion of the Preferred Shares has been duly authorized, (b) the Underlying Securities prior to such conversion will have been duly reserved for issuance upon such exercise and (c) when so issued, the Underlying Securities will be validly issued, fully paid and non-assessable.

Underlying Securities. (a) The issuance of the Underlying Securities upon conversion exercise of the Preferred Shares Purchased Warrants has been duly authorized, (b) the Underlying Securities prior to such conversion exercise will have been duly reserved for issuance upon such exercise and (c) when so issued, the Underlying Securities will be validly issued, fully paid and non-assessable.

Underlying Securities. (a) The issuance of the Underlying Securities upon conversion exercise of the Preferred Shares Purchased Notes and the Purchased Warrants has been duly authorized, (b) the Underlying Securities prior to such conversion exercise will have been duly reserved for issuance upon such exercise and (c) when so issued, the Underlying Securities will be validly issued, fully paid and non-assessable.

Underlying Securities. (a) The issuance of the Underlying Securities upon conversion exercise of the Preferred Shares Warrants has been duly authorized, (b) the Underlying Securities prior to such conversion exercise will have been duly reserved for issuance upon such exercise and (c) when so issued, the Underlying Securities will be validly issued, fully paid and non-assessable.