Common use of Issuance of the Subscription Shares Clause in Contracts

Issuance of the Subscription Shares. The Subscription Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents and subject to Shareholder Approval, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions on transfer provided for in the Transaction Documents. The Company has reserved from its duly authorized capital stock the Subscription Shares issuable pursuant to this Agreement.