Common use of Issuance and Delivery of Settlement Shares Clause in Contracts

Issuance and Delivery of Settlement Shares. (a) Upon the Notice of Issuance of the Settlement Shares, the Company shall, at its own cost and expense, take all necessary action, including obtaining and delivering an opinion of counsel to assure that the Company’s transfer agent shall issue stock certificates in the name of Noteholder (or its nominee) or such other persons as designated by Noteholder and in such denominations to be specified at the time of the issuance notice representing the number of shares of Settlement Stock issuable upon such notice. The Company warrants that no instructions other than these instructions have been or will be given to the transfer agent of the Company’s Common Stock and that the certificates representing such shares shall bear no restrictive legend.