Common use of Authorization for Issuance of Stock Clause in Contracts

Authorization for Issuance of Stock. LIQTECH shall have received, in form and substance satisfactory to counsel for LIQTECH, (i) a letter instructing and authorizing the Registrar and Transfer Agent for the shares of BLUE MOOSE 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 BLUE MOOSE Common Stock to LIQTECH shareholders in accordance with the terms of this Agreement, and (ii) 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.