Common use of Compliance with Law and Regulations Clause in Contracts

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option The Option herein granted and the obligation of the Company to sell and deliver shares hereunder hereunder, shall be subject to all applicable federal Federal and state State laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange or national market quotations system on which the Common Shares may then be listed, listed and (ii) the completion of any registration or qualification of such shares Shares under any federal Federal or state State law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option the Option herein granted may not be exercised if its exercise, or the receipt of Common Shares pursuant theretohereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares of its Common Stock hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) compliance with the listing regulations of such shares on the NASD or any stock exchange on which the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, exercise or the receipt of shares of Common Shares Stock pursuant thereto, hereto would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) the listing of such shares on any stock exchange on which the Common Shares Stock may then be listed, and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, exercise or the receipt of Common Shares shares of Stock pursuant thereto, thereto would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (ia) the listing of such shares Common Shares on any stock exchange on which the Common Shares may then be listed, and (iib) the completion of any registration or qualification of such shares Common Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Common Shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares Common Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder hereunder, shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) the listing of such shares on any stock exchange on which the Common Shares Stock may then be listed, and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule ruling or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) the listing of such shares on any stock exchange on which the Common Shares Stock may then be listed, and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, exercise or the receipt of Common Shares shares of Stock pursuant thereto, thereto would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company Corporation to sell and deliver shares hereunder hereunder, shall be subject to all applicable federal Federal and state State laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company Corporation shall not be required to issue or deliver any certificates for shares of Common Shares stock prior to (ia) the listing of such shares on any stock exchange on in which the Common Shares stock may then be listed, listed and (iib) the completion of any registration or qualification of such shares under any federal Federal or state State law, or any rule or regulation of any government body which the Company Corporation shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, or the receipt of Common Shares shares of stock pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares hereunder Shares hereunder, shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares may then be listed, listed and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option The Option and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government governmental or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Board of Directors of the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option the Option may not be exercised if its exercise, exercise or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (ia) the listing of such shares Shares on any stock exchange on which the Common Shares may then be listed, and (iib) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as 12 may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Common Shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares Common Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option The Warrant and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government governmental or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Board of Directors of the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option the Warrant may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations (including, but not limited to, federal securities laws) and to such approvals by any government or regulatory agency as may be required. The This Option shall not be exercisable, and the Company shall not be required to issue or deliver any certificates for shares Shares of Common Shares Stock prior to (i) the listing of such shares Shares on Nasdaq or any stock exchange on which the Common Shares Stock may then be listed, and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, exercise or the receipt of Common Shares of Stock pursuant thereto, thereto would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) the listing of such shares of Stock on any stock exchange on which the Common Shares Stock may then be listed, and (ii) the completion of any registration or qualification of such shares of Stock under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares Stock pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as -4- 55 may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Common Shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares Common Shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option Option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) compliance with the listing regulations of such shares on the NASD or any stock exchange on which the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Option may not be exercised if its exercise, exercise or the receipt of Common Shares shares of Stock pursuant thereto, hereto would be contrary to applicable law.

Compliance with Law and Regulations. This option Master Option and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations of any jurisdiction and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares may then be listed, and (ii) the completion of any registration or qualification of such shares Shares under any federal or state applicable law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option Master Option may not be exercised if its exercise, or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (ia) the listing of such shares Common Stock on any stock exchange on which the Common Shares Stock may then be listed, and (iib) the completion of any registration or qualification of such shares Common Stock under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares Stock pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option and the obligation of the Company to sell and deliver shares hereunder hereunder, shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares Stock prior to (i) the listing of such shares on any stock exchange on which which-the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares under any federal or state law, or any rule or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option may not be exercised if its exercise, or the receipt of Common Shares shares of Stock pursuant thereto, would be contrary to applicable law.

Compliance with Law and Regulations. This option The Warrant and the obligation of the Company to sell and deliver shares Shares hereunder shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any government governmental or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Shares prior to (i) the listing of such shares Shares on any stock exchange on which the Common Shares Stock may then be listed, listed and (ii) the completion of any registration or qualification of such shares Shares under any federal or state law, or any rule or regulation of any government body which the Board of Directors of the Company shall, in its sole discretion, determine to be necessary or advisable. Moreover, this option the Warrant may not be exercised if its exercise, exercise or the receipt of Common Shares pursuant thereto, would be contrary to applicable law.