Common use of Authorization for Issuance of Stock Clause in Contracts

Authorization for Issuance of Stock. CALIBRE shall have received in form and substance satisfactory to counsel for CALIBRE a letter instructing and authorizing the Registrar and Transfer Agent for the shares of common stock of HARDWOOD to issue stock certificates with the appropriate legend relating to the restricted nature of the shares under the Securities Act and representing ownership of HARDWOOD common stock to CALIBRE shareholders in accordance with the terms of this Agreement and a letter from said Registrar and Transfer Agent acknowledging receipt of the letter of instruction and stating to the effect that the Registrar and Transfer Agent holds adequate supplies of stock certificates necessary to comply with the letter of instruction and the terms and conditions of this Agreement.

Authorization for Issuance of Stock. CALIBRE shall have received in form and substance satisfactory to counsel for CALIBRE a letter instructing and authorizing the Registrar and Transfer Agent for the shares of common stock of HARDWOOD Hardwood Common Stock to issue stock certificates with the appropriate legend relating to the restricted nature of the shares under the Securities Act and representing ownership of HARDWOOD common stock Common Stock to CALIBRE shareholders in accordance with the terms of this Agreement and a letter from said Registrar and Transfer Agent acknowledging receipt of the letter of instruction and stating to the effect that the Registrar and Transfer Agent holds adequate supplies of stock certificates necessary to comply with the letter of instruction and the terms and conditions of this Agreement.