Common use of Authorization of Pledged Shares Clause in Contracts

Authorization of Pledged Shares. All of the Pledged Shares are duly authorized and validly issued, are fully paid and nonassessable and are not subject to the preemptive first-refusal or other similar rights of any person. All interests hereafter constituting Pledged Collateral will be duly authorized and validly issued, fully paid and nonassessable and not subject to any preemptive, first-refusal or other similar rights of any person, except as may be provided under applicable law.

Authorization of Pledged Shares. All of the The Pledged Shares are duly authorized and validly issued, are fully paid and (to the extent such concept is applicable) nonassessable and are not subject to the preemptive first-refusal or other similar rights of any personPerson. All interests hereafter other Capital Stock constituting Pledged Collateral will be duly authorized and validly issued, fully paid and (to the extent such concept is applicable) nonassessable and not subject to any preemptive, first-refusal or other similar the preemptive rights of any person, except as may be provided under applicable lawPerson.