Common use of Resale of Shares Clause in Contracts

Resale of Shares. Each Investor severally covenants that it will not sell or otherwise transfer the Shares or, subject to Stockholder Approval, the Exchange Shares, except pursuant to an effective registration under the Securities Act or in a transaction which, in the opinion of counsel reasonably satisfactory to the Company, qualifies as an exempt transaction under the Securities Act and the rules and regulations promulgated thereunder.

Resale of Shares. Each Investor severally covenants that it will not sell or otherwise transfer the Shares or, subject to Stockholder ApprovalShares, the Warrant, the Warrant Shares, the Conversion Shares or the Exchange Preferred Shares, except pursuant to an effective registration under the Securities Act or in a transaction which, in the opinion of counsel reasonably satisfactory to the Company, which qualifies as an exempt transaction under the Securities Act and the rules and regulations promulgated thereunder.

Resale of Shares. (a) Each Investor severally covenants that it will not sell or otherwise transfer the Shares or, subject to Stockholder Approval, the Exchange Shares, except pursuant to an effective registration under the Securities Act or in a transaction which, in the opinion of counsel reasonably satisfactory to the Company, qualifies as an exempt transaction under the Securities Act and the rules and regulations promulgated thereunder.