Common use of Restriction on Issuance of Shares Clause in Contracts

Restriction on Issuance of Shares. The Grantor shall not be required to issue or deliver any certificate for Shares purchased upon the exercise of any option granted hereunder unless (a) the issuance of such Shares has been registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, or counsel to the Grantor shall have given an opinion that such registration is not required; (b) approval, to the extent required, shall have been obtained from any state regulatory body having jurisdiction thereof; and (c) permission for the listing of such Shares, if required, shall have been given by Nasdaq and/or any national securities exchange on which the Common Stock of the Grantor is at the time of issuance listed.

Restriction on Issuance of Shares. The Grantor shall not be required to issue or deliver any certificate for Shares purchased upon the exercise of any option granted hereunder unless (a) the issuance of such Shares has been registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, or counsel to the Grantor shall have given an opinion that such registration is not required; (b) approval, to the extent required, shall have been obtained from any state regulatory body having jurisdiction thereof; and (c) permission for the listing of such Shares, if required, shall have been given by Nasdaq and/or any national securities exchange on which the Common Stock Shares of the Grantor is are at the time of issuance listed.

Restriction on Issuance of Shares. The Grantor shall not be required to issue or deliver any certificate for Shares purchased upon the exercise of any option granted hereunder unless (a) the issuance of such Shares has been registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, or an opinion of counsel satisfactory to the Grantor shall have given an opinion that such registration is not required; (b) approval, to the extent required, shall have been obtained from any state regulatory body having jurisdiction thereof; and (c) permission for the listing of such Shares, if required, shall have been given by Nasdaq and/or any national securities exchange on which the Common Stock Shares of the Grantor is are at the time of issuance listed.

Restriction on Issuance of Shares. The Grantor shall not be required to issue or deliver any certificate for unrestricted Shares purchased upon the exercise of any option granted hereunder unless (a) the issuance of such Shares has been registered with the Securities and Exchange Commission under the Securities Act of 1933, as amended, or counsel to the Grantor shall have given an opinion that such registration is not required; (b) approval, to the extent required, shall have been obtained from any state regulatory body having jurisdiction thereof; and (c) permission for the listing of such Shares, if required, shall have been given by Nasdaq and/or any national securities exchange on which the Common Stock Shares of the Grantor is are at the time of issuance listed.