Common use of Not Registered Clause in Contracts

Not Registered. The Holder understands that the Warrants and the Warrant Shares have not been registered under the Act by reason of a claimed exemption under the provisions of the Act which depends, in part, upon the Holder's investment intention. In this connection, the Holder understands that it is the position of the Commission that the statutory basis for such exemption would not be present if Holder's representations merely meant that Holder's intention was to hold such securities for a short period, such as the capital gains period of tax statutes, for a deferred sale, for a market rise (assuming that a market develops), or for any other fixed period.

Not Registered. The Holder understands Holders understand that the Warrants and the Warrant Shares have not been registered under the Act by reason of a claimed exemption under the provisions of the Act which depends, in part, upon the Holder's Holders' investment intention. In this connection, the Holder understands Holders understand that it is the position of the Commission that the statutory basis for such exemption would not be present if Holder's their representations merely meant that Holder's their intention was to hold such securities for a short period, such as the capital gains period of tax statutes, for a deferred sale, for a market rise (assuming that a market develops), or for any other fixed period.