Common use of Valid Issuance of the Securities Clause in Contracts

Valid Issuance of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with the applicable Loan Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens and all restrictions on transfer other than those expressly imposed by the federal securities laws and vest in the Holder full and sole title and power to the Securities. The Company has reserved from its duly authorized unissued capital stock a number of shares of Common Stock sufficient for issuance of the Underlying Shares.

Valid Issuance of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with the applicable Loan Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens Liens and all restrictions on transfer other than those expressly imposed by the federal securities laws and vest in the Holder Purchaser full and sole title and power to the Securities. The Company has reserved from its duly authorized unissued capital stock a number of shares of Common Stock sufficient for issuance of the Underlying Shares.

Valid Issuance of the Securities. The Securities have been Shares are duly authorized and, when issued and paid for in accordance with the applicable Loan Documentsthis Agreement, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens and all Liens imposed by the Company other than restrictions on transfer other than those expressly imposed by the federal securities laws and vest provided for in the Holder full and sole title and power to the SecuritiesTransaction Documents. The Company has reserved from its duly authorized unissued capital stock a number of shares of Common Stock sufficient for issuance of the Underlying SharesShares issued hereunder.