Common use of Reliance by Company Clause in Contracts

Reliance by Company. The Grantee understands that the shares acquired pursuant to this Agreement have not been registered under the Securities Act or under applicable state securities laws by reason of specific exemptions therefrom, which exemptions may depend upon, among other things, the bona fide nature of the Grantee’s representations as expressed herein. The Grantee understands that the Company is relying on the Grantee’s representations and warrants that the Company is entitled to rely on such representations and that such reliance is reasonable.