Common use of Validity of Common Stock Clause in Contracts

Validity of Common Stock. When issued to the Purchaser against payment therefore, all Issued Shares will have been duly and validly issued, fully paid and non-assessable; shall not be subject to call or forfeiture rights and will be free and clear of any security interests, liens, claims, encumbrances or other adverse interests, other than those restrictions contemplated by the federal and state securities laws of the United States and the securities laws of Israel, and the rules of the TASE; and will not have been issued or sold in violation of any preemptive or other similar rights of the holders of any securities of the Company.

Validity of Common Stock. When issued to the Purchaser against payment therefore, all Issued the Shares will have been duly and validly issued, fully paid and non-assessable; shall not be subject to call or forfeiture rights and will be free and clear of any security interests, liens, claims, encumbrances or other adverse interests, other than those restrictions contemplated by the federal and state securities laws of the United States and the securities laws of Israel, and the rules of the TASE; and will not have been issued or sold in violation of any preemptive or other similar rights of the holders of any securities of the Company.