Validly Allotted and Issued Underlying Shares Clause Samples

Validly Allotted and Issued Underlying Shares. The Corporation will ensure that at all applicable times, sufficient Underlying Shares are authorized and allotted for issuance upon the conversion of the Subscription Receipts and upon the deemed exercise or the due and proper exercise of the Special Warrants, and that the Underlying Shares upon their issuance in accordance with the terms of the Subscription Receipt Agreement or Special Warrant Indenture, as applicable, shall be validly issued as fully paid and non- assessable Common Shares.