Common use of Conditions to Issuance of Common Stock Clause in Contracts

Conditions to Issuance of Common Stock. The Company shall not be required to issue or deliver any certificate or other indicia evidencing ownership of shares of Common Stock purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 5.3.1 The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its sole discretion, determine to be necessary or advisable. 5.3.2 The lapse of such reasonable period of time following the exercise of the Option as the Committee may establish from time to time for reasons of administrative convenience. 5.3.3 The receipt by the Company of full payment for such Common Stock, including payment of any applicable withholding tax. 5.3.4 The Participant agreeing to the terms and conditions of the Plan and the Award Agreement.

Conditions to Issuance of Common Stock. The Company shall not be required to issue or deliver any certificate or other indicia evidencing ownership of shares of Common Stock purchased upon the exercise of any Option or portion thereof prior to fulfillment of all of the following conditions: 5.3.1 : The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its sole discretion, determine to be necessary or advisable. 5.3.2 . The lapse of such reasonable period of time following the exercise of the Option as the Committee may establish from time to time for reasons of administrative convenience. 5.3.3 . The receipt by the Company of full payment for such Common Stock, including payment of any applicable withholding tax. 5.3.4 . The Participant agreeing to the terms and conditions of the Plan and the Award Agreement.