Common use of Requirements by Law Clause in Contracts

Requirements by Law. (a) If any law, regulation of the Securities and Exchange Commission, or any regulation of any other commission or agency having jurisdiction shall require the Company or the Optionee to take any action with respect to the shares of stock to be acquired upon the exercise of the within option, then the date upon which the Company shall deliver or cause to be delivered the certificate or certificates for the shares of stock shall be postponed until full compliance has been made with all such requirements of law or regulation. (b) Neither the Optionee nor any person or persons referred to in Paragraph 3 above, as the case may be, shall be, or shall be deemed to be, a holder of any shares subject to the within option unless and until certificates for such shares are delivered to him or them in accordance with this Agreement, and no certificates may be delivered until the shares represented thereby are paid in full.

Requirements by Law. (a) If any law, regulation of the Securities and Exchange Commission, or any regulation of any other commission or agency having jurisdiction shall require the Company or the Optionee to take any action with respect to the shares of stock to be acquired upon the exercise of the within option, then the date upon which the Company shall deliver or cause to be delivered the certificate or certificates for the shares of stock shall be postponed until full compliance has been made with all such requirements of law or regulation. (b) Neither the Optionee nor any person or persons referred to in Paragraph 3 3(c) above, as the case may be, shall be, or shall be deemed to be, a holder of any shares subject to the within option unless and until certificates for such shares are delivered to him him/her or them in accordance with this Agreement, and no certificates may be delivered until the shares represented thereby are paid in full.

Requirements by Law. (a) If any law, regulation of the Securities and Exchange Commission, or any regulation of any other commission or agency having jurisdiction shall require the Company or the Optionee to take any action with respect to the shares of stock to be acquired upon the exercise of the within option, then the date upon which the Company shall deliver or cause to be delivered the certificate or certificates for the shares of stock shall be postponed until full compliance has been made with all such requirements of law or regulation. (b) Neither the Optionee nor any person or persons referred to in Paragraph 3 3(c) above, as the case may be, shall be, or shall be deemed to be, a holder of any shares subject to the within option unless and until certificates for such shares are delivered to him or them in accordance with this Agreement, and no certificates may be delivered until the shares represented thereby are paid in full.

Requirements by Law. (a) If any law, regulation of the Securities and Exchange Commission, or any regulation of any other commission or agency having jurisdiction shall require the Company or the Optionee any Grantee to take any action with respect to the shares of stock to be acquired upon the exercise of the within optionoptions granted hereunder, then the date upon which the Company shall deliver or cause to be delivered the certificate or certificates for the shares of stock shall be postponed until full compliance has been made with all such requirements requirement of law or regulation. (b) Neither the Optionee nor any person or persons referred to in Paragraph 3 above, as the case may be, No Grantee shall be, or shall be deemed to be, a holder of any shares subject to the within option options granted hereunder unless and until certificates for such shares are delivered to him or them such Grantee in accordance with this Agreement, and no certificates may be delivered until the shares represented thereby are paid in full.