Common use of Reliance on Exemption Clause in Contracts

Reliance on Exemption. The Company understands that the Shares are being offered and sold in reliance on a specific exemption from the registration requirement of federal and state securities laws and the Purchaser is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Company set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Shares.

Reliance on Exemption. The Company Purchaser understands that the Shares are being offered and sold in reliance on a specific exemption from the registration requirement of federal and state securities laws and the Purchaser Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Company Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Shares.