Common use of Authorization of Shares and Warrants Clause in Contracts

Authorization of Shares and Warrants. The Preferred Shares and the Warrants have been duly authorized and, when issued and sold as contemplated by the Prospectus and upon payment therefor as provided in this Agreement and the Prospectus, will be validly issued, fully paid and nonassessable and will conform to the description thereof contained in the Prospectus. The Common Shares that may be issuable upon exercise of the Warrants or redemption of the Preferred Shares have been duly authorized and, when issued and sold (in the case of the Warrants) as contemplated by the Prospectus and upon payment (in the case of the Warrants) therefor as provided in the Warrants and the Prospectus, will be validly issued, fully paid and nonassessable and will conform to the description thereof contained in the Prospectus.

Authorization of Shares and Warrants. The Preferred Shares and the Warrants have been duly authorized and, when issued and sold as contemplated by the Prospectus and upon payment therefor as provided in this Agreement and the Prospectus, will be validly issued, fully paid and nonassessable and will conform in all material respects to the description thereof contained in the Prospectus. The Common Shares that may be issuable upon exercise of the Warrants or redemption of the Preferred Shares have been duly authorized and, when issued and sold (in the case of the Warrants) as contemplated by the Prospectus and upon payment (in the case of the Warrants) therefor as provided in the Warrants and the Prospectus, will be validly issued, fully paid and nonassessable and will conform in all material respects to the description thereof contained in the Prospectus.