Common use of Director Representations Clause in Contracts

Director Representations. The Director hereby represents and warrants to the Company that (i) the Option to be acquired by the Director pursuant to this Agreement and the Option Shares to be acquired upon exercise of the Option will be acquired for the Director’s own account and not with a view to, or intention of, distribution thereof in violation of the Securities Act or any applicable state securities laws, and the Director Securities shall not be disposed of in contravention of the Securities Act or any applicable state securities laws, (ii) the Director is a member of the Board, is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Option Shares, (iii) the execution, delivery and performance of this Agreement by the Director does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which the Director is a party or by which he is bound, and (iv) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of the Director, enforceable in accordance with its terms.