Restriction on Dispositions. The issuance of the Warrants and the ----------------------------- Interests to be issued upon the exercise of the Warrants has not been registered under the Act pursuant to any registration statement. Stanford acknowledges that the Warrants and the Interests may not be transferred except pursuant to (i) an effective registration statement under the Act, or (ii) an exemption from registration under the Act permitting the disposition of such securities and upon delivery to the Partnership of an opinion of counsel, reasonably satisfactory to counsel for the Partnership, that such exemption from registration is available. Stanford agrees that any certificates representing the Warrants and Interests shall bear an appropriate restrictive legend to such effect.
Appears in 4 contracts
Samples: Warrant Agreement (American Leisure Holdings, Inc.), Warrant Agreement (American Leisure Holdings, Inc.), Warrant Agreement (American Leisure Holdings, Inc.)
