Validly Issued Sample Clauses
The 'Validly Issued' clause confirms that any shares, securities, or other instruments referenced in an agreement have been properly authorized and issued in accordance with applicable laws and the issuing entity’s governing documents. In practice, this means that the company has followed all necessary corporate procedures, such as board approvals and regulatory filings, to ensure the legitimacy of the issuance. This clause provides assurance to parties that the instruments they are receiving or dealing with are legally valid, thereby reducing the risk of future disputes over ownership or compliance.
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Validly Issued. Upon receipt by the Company of payment for the Shares as contemplated by this Agreement and upon issuance of the Shares in accordance with this Agreement, the Shares will be validly issued and outstanding, fully paid and non-assessable.
Validly Issued. The Common Stock, when issued, will be duly authorized, validly and legally issued, and non-assessable.
Validly Issued. Upon issuance of the Common Stock identified in Section 1 of this Agreement, such Common Stock shall be validly issued and outstanding, fully paid, nonassessable and free and clear of all liens and encumbrances arising through the actions of the Corporation or its directors, officers, employees or agents.
Validly Issued. The total authorized number of shares of capital stock which Lason, Inc. has authority to issue is 20,000,000 shares of Common Stock, par value $0.01 per share, of which as of October 31, 1996, 8,610,246 shares are issued and outstanding, and 5,000,000 shares of preferred stock, par value $0.01 per share, of which as of December 31, 1996, no shares are issued and outstanding. Additionally, as of December 31, 1996, certain persons hold options to acquire approximately 789,769 shares of Lason, Inc. Common Stock. When issued in accordance with the terms of this Agreement, the Common Stock of Lason, Inc. being issued to Shareholder will be validly issued, fully paid and non-assessable. Except with respect to the foregoing, at December 31, 1996, there are no other outstanding subscriptions, options, rights, warrants, convertible securities or other agreements or commitments obligating Lason, Inc. to issue any additional shares of its capital stock of any class. Notwithstanding the above, Lason, Inc. intends to issue additional securities in connection with, among others, future acquisitions and employee compensation programs.
Validly Issued. Upon issuance of the Common Stock identified in Section 1 of this Agreement and receipt by the Corporation of the Promissory Note representing the amounts owed to Creditor by Corporation pursuant to the terms of the Promissory Note, properly endorsed and accompanied by all instruments necessary to effect the transfer of such Promissory Note to the Corporation, such Common Stock shall be validly issued and outstanding, fully paid, nonassessable and free and clear of all liens and encumbrances arising through the actions of the Corporation or its directors, officers, employees or agents.
Validly Issued. The shares of Parent Common Stock to be issued pursuant to the Merger have been duly authorized and, upon issuance, will be validly issued, fully paid and non-assessable.
Validly Issued. All of the Pledged Shares have been duly authorized and validly issued and are fully paid and non-assessable.
Validly Issued. The NAAC Share constitutes, duly authorized, validly and legally issued shares of the NAAC’s common stock, fully-paid and non-assessable.
Validly Issued. Upon issuance of the Shares identified in this Agreement and receipt by the Corporation, such Shares shall be validly issued and outstanding, fully paid, non-assessable and free and clear of all liens and encumbrances arising through the actions of the Corporation or its directors, officers, employees or agents.
Validly Issued. The Preferred Equity Shares to be issued as of the Conversion Date and the Conversion Shares, if and when issued, will be validly issued, fully paid and non-assessable.