Common use of Purchaser Capitalization Clause in Contracts

Purchaser Capitalization. The authorized capital stock of Purchaser consists of (i) 120 million shares of Purchaser Common Stock and (ii) 1 million shares of Preferred Stock, $1.00 par value, of Purchaser ("Purchaser Preferred Stock"). At September 30, 1996, 60,375,811 shares of Purchaser Common Stock, and no shares of Purchaser Preferred Stock, were issued and outstanding, all of which were duly and validly issued, fully paid and nonassessable. Except as set forth in the Purchaser SEC Filings or Section 5.6 of the Purchaser Disclosure Schedule, no subscription, warrant, option, convertible security, stock appreciation or other right (contingent or other) to purchase or acquire any shares of any class of capital stock of Purchaser or any of its Subsidiaries is authorized or outstanding and there is not outstanding any commitment of Purchaser or any of its Subsidiaries to issue any shares, warrants, options or other such rights or to distribute to holders of any class of its capital stock any evidences of indebtedness or assets. Except as set forth in the Purchaser SEC Filings, neither Purchaser nor any of its Subsidiaries has any contingent or other obligation to purchase, redeem or otherwise acquire any shares of its capital stock or any interest therein or to pay any dividend or make any other distribution in respect thereof. Except as set forth in the Purchaser SEC Filings, Purchaser is not a party to any voting agreement, voting trust or similar agreement or arrangement relating to its capital stock or any agreement or arrangement relating to or providing for registration rights with respect to its capital stock.