Common use of Authorization of the Private Placement Shares Clause in Contracts

Authorization of the Private Placement Shares. The Private Placement Shares included in the Private Placement Units have been duly authorized and, when issued and delivered against payment for the Private Placement Units by the Company pursuant to the Unit Subscription Agreements, will be validly issued, fully paid and non-assessable and free of preemptive rights, rights of first refusal and similar rights.

Authorization of the Private Placement Shares. The Private Placement Shares included in the Private Placement Units have been duly authorized by the Company and, when issued and delivered against payment for in the manner set forth in the Private Placement Units Purchase Agreement (by the entry of the name of the registered owner thereof in the register of members of the Company pursuant to the Unit Subscription Agreementsconfirming that such securities have been issued credited as fully paid) against payment therefor, will be validly issued, fully paid and non-assessable and free of preemptive rights, rights of first refusal and similar rightsassessable.

Authorization of the Private Placement Shares. The Private Placement Shares included in the Private Placement Units have been duly authorized and, when issued and delivered against payment for the Private Placement Units by the Company pursuant to the Unit Subscription Purchase Agreements, will be validly issued, fully paid and non-assessable and free of preemptive rights, rights of first refusal and similar rights.