Common use of Capitalization of Borrower Clause in Contracts

Capitalization of Borrower. On and as of the Closing Date, the authorized capital stock of the Borrower shall consist of 40,000,000 shares of common stock, 23,200,000 shares of which shall be issued and outstanding and 5,000,000 shares of preferred stock, none of which shall be issued or outstanding. All such outstanding shares of common stock are duly and validly issued and fully paid and non-assessable.

Capitalization of Borrower. On and as of the Closing Effective Date, the authorized capital stock of the Borrower shall consist of 40,000,000 shares of common stock, 23,200,000 27,317,735 shares of which shall be issued and outstanding and 5,000,000 shares of preferred stock, none of which shall be issued or outstanding. All such outstanding shares of common stock are duly and validly issued and fully paid and non-assessable.

Capitalization of Borrower. On and as of the Closing Date, the authorized capital stock of the Borrower shall consist of 40,000,000 200,000,000 shares of common stock, 23,200,000 25,765,001 shares of which shall be issued and outstanding and 5,000,000 50,000,000 shares of preferred stock, none of which shall be issued or outstanding. All such outstanding shares of common stock are duly and validly issued and fully paid and non-assessable.