Common use of Exemptions from Securities Laws Clause in Contracts

Exemptions from Securities Laws. Subject to the accuracy of the representations and warranties of eLot set forth in Section 5.18 hereof, the provisions of Section 5 of the Securities Act are inapplicable to the offering, issuance, sale and delivery of the MDI Preferred Shares, the Warrant and the Reserved Shares by virtue of the exemption afforded by Section 4(2) of the Securities Act, and no consent, approval, qualification or registration or filing under any state securities or blue sky laws is required in connection therewith.

Exemptions from Securities Laws. Subject to the accuracy of the representations and warranties of eLot MDI set forth in Section 5.18 4.19 hereof, the provisions of Section 5 of the Securities Act are inapplicable to the offering, issuance, sale and delivery of the MDI Preferred Shares, the Warrant and the Reserved eLot Shares by virtue of the exemption afforded by Section 4(2) of the Securities Act, and no consent, approval, qualification or registration or filing under any state securities or blue sky laws is required in connection therewith.