Corporate Law Status of Shares. The Shares granted pursuant to this Agreement constitute validly issued and outstanding Shares of the capital stock of the Company and are fully paid and nonassessable.
Corporate Law Status of Shares. The shares of Common Stock issuable upon exercise of the Option in accordance herewith, upon issuance, delivery and payment for such shares in accordance with this Agreement, shall constitute validly issued and outstanding shares of capital stock of People’s United. When so paid for, such shares will be fully paid and non-assessable. Throughout the Option Period (subject to the shortening thereof under Section 8 hereof), People’s United will have full legal right and authority to issue and deliver the Optioned Shares as contemplated by this Agreement.
Corporate Law Status of Shares. The shares of Stock issuable upon exercise of the Option in accordance herewith, upon issuance, delivery and payment for such shares in accordance with Section 4 hereof, shall constitute validly issued and outstanding shares of capital stock of the Company. When so paid for, such shares will be fully paid and nonassessable. You shall have none of the rights of a shareholder until the Optioned Shares are in fact issued and delivered to you, and then only as to those Optioned Shares actually issued and delivered to you.
