Common use of Resale of Common Stock Clause in Contracts

Resale of Common Stock. Upon any sale or transfer of the Common Stock purchased upon exercise of the Option, the Optionee shall deliver to the Company an opinion of counsel satisfactory to the Company to the effect that either (i) the Common Stock to be sold or transferred has been registered under the Securities Act, and that there is in effect a current prospectus meeting the requirements of Subsection 10(a) of the Securities Act which is being or will be delivered to the purchaser or transferee at or prior to the time of delivery of the certificates evidencing the Common Stock to be sold or transferred, or (ii) such Common Stock may then be sold without violating Section 5 of the Securities Act.

Resale of Common Stock. Upon any sale or transfer of the Common Stock purchased upon exercise of the Option, the Optionee Executive shall deliver to the Company an opinion of counsel satisfactory to the Company to the effect that either (i) the Common Stock to be so sold or transferred has been registered under the Securities ActAct of 1933, as amended, and that there is in effect a current prospectus meeting the requirements of Subsection 10(a) of the Securities said Act which is being or will be delivered to the purchaser or transferee at or prior to the time of delivery of the certificates evidencing the Common Stock to be sold or transferred, or (ii) such Common Stock may then be sold without violating Section 5 of the Securities said Act.