Common use of Disposition of Warrant and Exercise Shares Clause in Contracts

Disposition of Warrant and Exercise Shares. (a) The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until: (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or (ii) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or (iii) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition; provided, however, that such statement will not be required if the disposition is permitted under Rule 144 of the Act. (b) Notwithstanding the provisions of paragraph (a) above, the Holder may assign this Warrant and the Exercise Shares to any affiliate.

Disposition of Warrant and Exercise Shares. (a) The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until: (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or (ii) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or (iii) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition; provided, however, that such statement will not be required and if reasonably requested by the disposition is permitted under Rule 144 of the Act. (b) Notwithstanding the provisions of paragraph (a) aboveCompany, the Holder may assign this Warrant and shall have furnished the Exercise Shares Company with an opinion of counsel, reasonably satisfactory to any affiliate.the

Disposition of Warrant and Exercise Shares. (a) The Holder further agrees not to make any disposition of all or any part of the this Warrant or Exercise Shares in any event unless and untilunless: (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or; (ii) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; (iii) Pursuant to Rule 144; or (iiiiv) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement of the circumstances surrounding the proposed disposition; provided, however, that such statement will not be required disposition and if the disposition is permitted under Rule 144 of the Act. (b) Notwithstanding the provisions of paragraph (a) above, the Holder may assign this Warrant and the Exercise Shares to any affiliate.reasonably requested by the

Disposition of Warrant and Exercise Shares. (aA) The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until: (iI) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or; (iiII) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or (iiiIII) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition; provided, however, that such statement will not be required and if reasonably requested by the disposition is permitted under Rule 144 of the Act. (b) Notwithstanding the provisions of paragraph (a) aboveCompany, the Holder may assign this Warrant and shall have furnished the Exercise Shares Company with an opinion of counsel, reasonably satisfactory to any affiliate.the Company, for the Holder to the effect that such disposition will not require

Disposition of Warrant and Exercise Shares. (a) The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until: (i) The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition; or; (ii) There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or (iii) The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition; provided, however, that such statement will not be required and if reasonably requested by the disposition is permitted under Rule 144 of the Act. (b) Notwithstanding the provisions of paragraph (a) aboveCompany, the Holder may assign this Warrant and shall have furnished the Exercise Shares Company with an opinion of counsel, reasonably satisfactory to any affiliate.the Company, for the Holder to the effect that such disposition will not require