Common use of Issuance of Debentures and Warrants Clause in Contracts

Issuance of Debentures and Warrants. The Debentures and Warrants have been duly and validly authorized for issuance, offer and sale pursuant to this Agreement and, when issued and delivered as provided hereunder against payment in accordance with the terms hereof, shall be valid and binding obligations of the Company enforceable in accordance with their terms. The Company has and at all times while the Debentures and Warrants are outstanding has and will continue to maintain an adequate reserve of shares of Common Stock to enable it to perform its obligations under this Agreement, the Debentures and Warrants. When issued in accordance with the terms hereof and the Debentures and the Warrants, the Underlying Shares will be duly authorized, validly issued, fully paid and nonassessable. There are not outstanding any equity or equity equivalent security substantially similar to the Debentures, including any security with a floating conversion price substantially similar to the Debentures.