Common use of The Shares and the Warrant Shares Clause in Contracts

The Shares and the Warrant Shares. The Shares and the Warrant Shares have been duly authorized and, when issued, will be fully paid and non-assessable, free and clear of any restrictions on transfer (other than any restrictions under the Securities Act and state securities laws), taxes, Security Interests, options, warrants, purchase rights, contracts, commitments, equities, claims, and demands.