Validly Issued. Upon receipt by the Company of payment for the Shares as contemplated by this Agreement and upon issuance of the Shares in accordance with this Agreement, the Shares will be validly issued and outstanding, fully paid and non-assessable.
Appears in 2 contracts
Sources: Subscription and Purchase Agreement (Macatawa Bank Corp), Subscription and Purchase Agreement (Macatawa Bank Corp)
Validly Issued. Upon receipt by the Company of payment for the Shares as contemplated by this Agreement and upon issuance of the Shares in accordance with this Agreement, the Shares will be validly issued and outstanding, fully paid paid, and non-assessable.
Appears in 2 contracts
Sources: Subscription Agreement (FNBH Bancorp Inc), Subscription Agreement (FNBH Bancorp Inc)
Validly Issued. Upon receipt by the Company of payment for the The Purchased Shares as contemplated by to be issued pursuant to this Agreement Agreement, when issued and upon issuance of the Shares delivered in accordance with this Agreementthe terms hereof, the Shares will be duly and validly issued and outstandingissued, fully paid and non-assessable.
Appears in 1 contract
Sources: Right of First Refusal and Services Agreement (Sandalwood Lodging Investment Corp)
Validly Issued. Upon receipt by the Company of payment for the Shares Securities as contemplated by this Agreement and upon issuance of the Shares Securities in accordance with this Agreement, the Shares Securities will be validly issued and outstanding, fully paid paid, and non-assessable.
Appears in 1 contract
Validly Issued. Upon receipt by the Company of payment for the Shares as contemplated by this Agreement and upon issuance of the Shares in accordance with the terms and provisions of the Term Sheet, the Preferred Stock Designation, and this Agreement, the Shares will be validly issued and outstanding, fully paid and non-assessable.
Appears in 1 contract
Sources: Subscription and Purchase Agreement (Macatawa Bank Corp)