Registration Statement, the Prospectus and the related Prospectus Supplement(s), assuming the securities underlying the Units have been duly authorized and reserved for issuance by all necessary corporate action, the Units and the Combined Unit Agreement will constitute legally valid and binding obligations of the Company and the Operating Partnership enforceable against the Company and the Operating Partnership in accordance with their terms, except as may be limited by the Exceptions.
To the extent that the obligations of the Company under any Warrant Agreement may be dependent upon such matters, we assume for purposes of the opinion set forth in paragraph 5 above that the Warrant Agent is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; that the Warrant Agent is duly qualified to engage in the activities contemplated by the Warrant Agreement; that the Warrant Agreement has been duly authorized, executed and delivered by the Warrant Agent and constitutes the legally valid and binding obligation of the Warrant Agent enforceable against the Warrant Agent in accordance with its terms; that the Warrant Agent is in compliance, with respect to acting as Warrant Agent under the Warrant Agreement, with all applicable laws and regulations; and that the Warrant Agent has the requisite organizational and legal power and authority to perform its obligations under the Warrant Agreement. We further assume that the status of the Warrants as binding obligations of the Company will not be affected by any (i) breaches of, or defaults under, agreements or instruments, (ii) violations of statutes, rules, regulations or court or governmental orders, or (iii) failures to obtain required consents, approvals or authorizations from, or make required registrations, declarations or filings with, governmental authorities.
To the extent that the obligations of the Company or the Operating Partnership under the Company Unit Agreement or the Combined Unit Agreement, as may be the case, may be dependent upon such matters, we assume for purposes of the opinions set forth in paragraphs 6 and 8 above that (i) the Company Unit Agent or the Combined Unit Agent, as applicable, is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; (ii) the Company Unit Agent or the Combined Unit Agent, as applicable, is duly qualified to engage in the activities contemplated by the Company Unit Agreement or the Combined Unit Agreement; (iii) the Company Unit Agreement or the Combined Unit Agreement, as the case may be, has been duly authorized, executed and delivered by the respective Company Unit Agent or the Combined Unit Agent, and constitutes the legally valid and binding obligation of the Company Unit Agent or the Combined Unit Agent, enforceable against them, in accordance with its terms; (iv) the Company Unit Agent or the Combined Unit Agent, is in compliance, with respect to acting as agent under either the Company Unit Agreement or the Combined Unit Agreement, as the case may be, with all applicable laws and regulations; and that the Company Unit Agent or the Combined Unit Agent, as applicable, has the requisite organizational and legal power and authority to perform its obligations under the Company Unit Agreement or the Combined Unit Agreement.
Furthermore, with regards to paragraph 8 above, we have also assumed (i) that the form and terms of the Common Stock, Preferred Stock, Company Debt Securities and/or Warrants (the “Underlying Securities”) included in any Combined Units, and the issuance, sale, and delivery of any such Underlying Security, and the incurrence and performance of all obligations thereunder or in respect thereof in accordance with the terms thereof, in each case, will be in full compliance with, and will not violate, the Charter, Bylaws or any applicable law, rule, regulation, order, judgment, decree, award, or agreement binding upon the Company, or to which the issuance, sale, and delivery of such Underlying Securities, or the incurrence and performance of such obligations, may be subject, or violate any applicable public policy, or be subject to any defense in law or equity. Moreover, we have assumed that with respect to any of the Underlying Securities that are included in any Combined Units and any agreement under which such Underlying Securities may be issued, the valid existence and corporate power and authority of the Company to enter into and to incur and perform all of its obligations thereunder, the due authorization by all requisite action and the due execution and delivery by the Company of such instruments, and that such instruments constitute or will constitute valid and binding obligations of the Company (the “Corporate Unit Authorization”).
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