Common use of Valid Shares Clause in Contracts

Valid Shares. The Company Stock, when issued pursuant to this Agreement, will have been duly and validly authorized and issued, will be fully paid and nonassessable and will not have been issued in violation of the preemptive rights of any person or entity. Prior to the issuance of the Company Stock in payment of the Merger Consideration, the Company has 1,594,225 share of Common Stock issued and outstanding.