Common use of LEGALITY OF INITIAL ISSUANCE Clause in Contracts

LEGALITY OF INITIAL ISSUANCE. Shares shall be issued upon the exercise of this Option only if the Company has determined that (I) it and the Optionee have taken any actions required by law to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; (ii) any applicable listing requirement of any stock exchange or automated quotations system on which the Shares are listed has been satisfied; and (iii) any other applicable provision of state or federal securities law has been satisfied.

LEGALITY OF INITIAL ISSUANCE. Shares shall be issued upon the exercise of this Option only if the Company has determined that (Ii) it and the Optionee have taken any actions required by law to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; (ii) any applicable listing requirement of any stock exchange or automated quotations system on which the Shares are listed has been satisfied; and (iii) any other applicable provision of state or federal securities law has been satisfied.

LEGALITY OF INITIAL ISSUANCE. No Shares shall be issued upon the exercise of this Option only if option unless and until the Company has determined that that: (Ia) it It and the Optionee have taken any actions required by law to register the Shares under the Securities Act or to perfect an exemption from the registration requirements thereof; (iib) any Any applicable listing requirement of any stock exchange or automated quotations system on which the Shares are Stock is listed has been satisfied; and (iiic) any Any other applicable provision of state or federal securities law has been satisfied.