Common use of Valid Issuance of the Exchange Shares Clause in Contracts

Valid Issuance of the Exchange Shares. The Exchange Shares, when issued and delivered in accordance with the terms of this Agreement, for the consideration expressed herein, will be duly and validly issued, fully paid and non-assessable.

Valid Issuance of the Exchange Shares. The Exchange Shares, when issued and delivered in accordance with the terms of and for the consideration set forth in this Agreement, for the consideration expressed herein, will be duly and validly issued, fully paid and non-assessablenonassessable and free of restrictions on transfer, other than restrictions on transfer under applicable federal and state securities laws and liens or encumbrances created by or imposed by the Holders. The Company has a sufficient number of authorized and unissued shares of Common Stock to consummate the Exchange.