Common use of The Private Placement Units Clause in Contracts

The Private Placement Units. The Private Placement Units to be issued and sold by the Company under the Unit Purchase Agreement have been duly authorized by the Company and, when issued and delivered against payment therefor by the Sponsor pursuant to the Unit Purchase Agreement, will be duly and validly issued and delivered, will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability, and will conform to the descriptions thereof in the Registration Statement, the Pricing Disclosure Package and the Prospectus.