Common use of Trust Action Clause in Contracts

Trust Action. Cabot has taken all necessary action to authorize and reserve and to permit it to issue, and at all times from the date hereof through the termination of this Agreement in accordance with its terms will have reserved for issuance upon the exercise of the Option, that number of Cabot Common Shares equal to the maximum number of Cabot Common Shares at any such time and from time to time issuable hereunder, and all such Cabot Common Shares, upon issuance pursuant hereto, will be duly authorized, validly issued, fully paid, nonassessable, and will be delivered free and clear of all Liens created by Cabot and not subject to any preemptive rights.