Common use of Investment Purpose and Other Restrictions on Transfer Clause in Contracts

Investment Purpose and Other Restrictions on Transfer. Optionee represents that, in the event of the exercise by Optionee of any Option granted pursuant to the terms of this Agreement, Optionee intends to purchase the shares acquired on such exercise for investment and not with a view to resale or other distribution; except that the Company, at its election, may waive or release this condition in the event the shares acquired on exercise of the Option are registered under the Securities Act of 1933, or upon the happening of any other contingency which the Company shall determine warrants the waiver or release of this condition. Optionee agrees that the certificates evidencing the shares acquired by Optionee on exercise of all or any part of the Option, may bear a restrictive legend, if appropriate, indicating that the shares have not been registered under said Act and are subject to restrictions on the transfer thereof.

Investment Purpose and Other Restrictions on Transfer. Optionee represents that, in the event of the exercise by Optionee of the Option hereby granted, or any Option granted pursuant to the terms of this Agreementpart thereof, Optionee intends to purchase the shares acquired on such exercise for investment and not with a view to resale or other distribution; except that the Company, at its election, may waive or release this condition as it deems advisable or necessary in the event the shares acquired on exercise of the Option are registered under the Securities Act of 1933, or upon the happening of any other contingency which warranting the Company shall determine warrants the waiver or release of this such condition. Optionee agrees that the certificates evidencing the shares acquired by Optionee on exercise of all or any part of the Option, may bear a restrictive legend, if appropriate, indicating that the shares have not been registered under said Act and are subject to any restrictions on the transfer thereof, which legend may be in such form as the Company shall determine to be proper.

Investment Purpose and Other Restrictions on Transfer. Optionee represents that, in the event of the exercise by Optionee of the Option hereby granted, or any Option granted pursuant to the terms of this Agreementpart thereof, Optionee intends to purchase the shares acquired on such exercise for investment and not with a view to resale or other distribution; except that the CompanyCommittee, at its election, may waive or release this condition as it deems advisable or necessary in the event the shares acquired on exercise of the Option are registered under the Securities Act of 1933, or upon the happening of any other contingency which warranting the Company shall determine warrants the waiver or release of this such condition. Optionee agrees that the certificates evidencing the shares acquired by Optionee on exercise of all or any part of the Option, may bear a restrictive legend, if appropriate, indicating that the shares have not been registered under said Act and are subject to any restrictions on the transfer thereof, which legend may be in such form as the Company shall determine to be proper.