Common use of Certain Legal Restrictions Clause in Contracts

Certain Legal Restrictions. The Company will not be obligated to sell or issue any Shares upon exercise of the Option or otherwise unless the issuance and delivery of such Shares complies, in the judgment of the Company, with all relevant provisions of applicable law and other legal requirements including, without limitation, any applicable securities laws and the requirements of any market or stock exchange upon which the shares of the Company (including the Shares) may then be listed. As a condition to the exercise of Option, the Company may require the Recipient to make such representations and warranties as may be necessary to assure the availability of an exemption from the registration requirements of any applicable securities laws. The Company shall have no obligation to the Recipient, express or implied, to list, register or otherwise qualify any Shares issued to the Recipient pursuant to the Option. Shares issued upon the exercise of the Option may not be transferred except in accordance with applicable securities laws. At the Company’s election, the certificate evidencing the Shares issued to the Recipient will bear appropriate legends restricting transfer under applicable law.

Certain Legal Restrictions. The Company will not be obligated to sell or issue any Shares upon exercise of the Option or otherwise unless the issuance and delivery of such Shares complies, in the judgment of the Company, with all relevant provisions of applicable law and other legal requirements including, without limitation, any applicable securities laws and the requirements of any market or stock exchange upon which the shares of the Company (including the Shares) may then be listed. As a condition to the exercise of Option, the Company may require the Recipient to make such representations and warranties as may be necessary to assure the availability of an exemption from the registration requirements of any applicable securities laws. The Company shall have no obligation to the Recipient, express or implied, to list, register or otherwise qualify any Shares issued to the Recipient pursuant to the Option. Shares issued upon the exercise of the Option may not be transferred except in accordance with applicable securities laws. At the Company’s 's election, the certificate evidencing the Shares issued to the Recipient will bear appropriate legends restricting transfer under applicable law.