Common use of Valid Issuance of Purchased Securities Clause in Contracts

Valid Issuance of Purchased Securities. The Purchased Securities -------------------------------------- shall, upon issuance pursuant to the terms hereof, be duly authorized and validly issued, fully paid and non-assessable and free and clear of any lien, security interest, option or other charge or encumbrance. In addition, the shares of Common Stock issuable upon the exercise of the Warrants shall, upon issuance pursuant to the terms thereof, be duly authorized and validly issued, fully paid and non-assessable and free and clear of any lien, security interest, option or other charge or encumbrance. The issuance of the Purchased Securities and the Common Stock upon the exercise of the Warrants are not and will not be subject to any pre-emptive rights, first refusal rights, right to purchase or similar rights with respect to such Purchased Securities and the Common Stock issuable upon the exercise of the Warrants.