1. | The Registration Statement; |
2. | The charter of the Company (the “Charter”), certified by the State Department of Assessments and Taxation of Maryland (the “SDAT”); |
3. | The Bylaws of the Company, certified as of the date hereof by an officer of the Company; |
4. | A certificate of the SDAT as to the good standing of the Company, dated as of a recent date; |
5. | Resolutions adopted by the Board of Directors of the Company relating to, among other matters, the Plan and the issuance of the Shares (the “Resolutions”), certified as of the date hereof by an officer of the Company; |
6. | The Plan, certified as of the date hereof by an officer of the Company; |
7. | A certificate executed by an officer of the Company, dated as of the date hereof; and |
8. | Such other documents and matters as we have deemed necessary or appropriate to express the opinion set forth below, subject to the assumptions, limitations and qualifications stated herein. |
1. | Each individual executing any of the Documents, whether on behalf of such individual or another person, is legally competent to do so. |
2. | Each individual executing any of the Documents on behalf of a party (other than the Company) is duly authorized to do so. |
3. | Each of the parties (other than the Company) executing any of the Documents has duly and validly executed and delivered each of the Documents to which such party is a signatory, and such party’s obligations set forth therein are legal, valid and binding and are enforceable in accordance with all stated terms. |
4. | All Documents submitted to us as originals are authentic. The form and content of all Documents submitted to us as unexecuted drafts do not differ in any respect relevant to this opinion from the form and content of such Documents as executed and delivered. All Documents submitted to us as certified or photostatic copies conform to the original documents. All signatures on all Documents are genuine. All public records reviewed or relied upon by us or on our behalf are true and complete. All representations, warranties, statements and information contained in the Documents are true and complete. There has been no oral or written modification of or amendment to any of the Documents, and there has been no waiver of any provision of any of the Documents, by action or omission of the parties or otherwise. |
5. | The Shares will not be issued in violation of any restriction or limitation contained in Article VII of the Charter or in the Plan. |
6. | Upon the issuance of any Shares, the total number of shares of Common Stock issued and outstanding will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under the Charter or the Plan. |
1. | The Company is a corporation duly incorporated and existing under and by virtue of the laws of the State of Maryland and is in good standing with the SDAT. |
2. | The issuance of the Shares has been duly authorized and, when and if delivered against payment therefor in accordance with the Registration Statement, the Resolutions and the Plan, the Shares will be validly issued, fully paid and nonassessable. |