Common use of Warranties and Representations of the Company Clause in Contracts

Warranties and Representations of the Company. (a) The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. (b) The grant of the Option to the Holder has been duly authorized by all requisite corporate action on the part of the Company and the shares of Common Stock represented by the Option have been properly reserved for issuance. (c) The number of shares of Common Stock represented by the Option (when coupled with all shares currently outstanding and all shares to be issued upon the exercise of all other currently outstanding options granted by the Company) does not exceed the number of shares of Common Stock currently authorized for issuance by the Company's Certificate of Incorporation (the "Certificate"). (d) No consents, approvals or permits are required to be obtained from any third person, including, without limitation, any securities commission, before the grant of the Option, nor do any conditions precedent exist (other than those specifically identified herein) that would impair the Company's ability to grant the Option hereunder. (e) No consents, approvals, nor permits are required to be obtained from any third person, other those which may be required under applicable securities laws, before the issuance of Common Stock upon the exercise of all or any portion of the Option.