Common use of Restriction on Transfer of Warrants Clause in Contracts

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofhereof [the Effective Date], except to the Underwriter or to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentatives.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesUnderwriter.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period except (a) to officers of one the Representative or to officers and partners of the other Underwriters or Selected Dealers participating in the Public Offering; (1b) year from the date hereof, except to the Designeesby will; or (c) by operation of law.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that neither the Warrants nor the shares of Common Stock issuable upon exercise hereof may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees.unless and until:

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of the DesigneesUnderwriter.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofhereof [Effective Date], except to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofeffectiveness of the Offering, except (a) to a NASD member firm that participated in the DesigneesPublic Offering and the bona fide officers or partners thereof, (b) by operation of law, or (c) by reason of reorganization of the Company.

Restriction on Transfer of Warrants. The Holder of a Warrant ----------------------------------- Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder Holders of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesUnderwriters.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's ’s acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofhereof [the Effective Date], except to the Underwriters or to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofeffectiveness of the Offering, except (a) to a FINRA member firm that participated in the DesigneesPublic Offering and the bona fide officers or partners thereof, (b) by operation of law, or (c) by reason of reorganization of the Company.

Restriction on Transfer of Warrants. The Holder Holders of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Representatives' Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Representatives' Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesUnderwriters.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofDate of the Public Offering, except (a) to a NASD member firm that participated in the DesigneesPublic Offering and the bona fide officers or partners thereof; (b) by operation of law or (c) by reason of reorganization of the Company.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofprior to September 19, 2004, except (a) to officers of the DesigneesPlacement Agent or to officers and partners of the other firms that are members of the National Association of Securities Dealers, Inc. participating in the Private Offering; (b) by will; or (c) by operation of law.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentative. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the Designees.Underwriter. 5

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year six months from the date hereofeffectiveness of the Offering, except (a) to a NASD member firm that participated in the DesigneesPublic Offering and the bona fide officers or partners thereof, (b) by operation of law, or (c) by reason of reorganization of the Company.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of the DesigneesUnderwriters.

Restriction on Transfer of Warrants. The Each Holder of a Warrant ----------------------------------- Certificate, by the Holder's his, her or its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, thereof and that the Warrants may not be sold, transferred, assigned, pledged or hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesJosephthal.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's ’s acceptance thereof, covenants and agrees that the Warrants are Warrant represented thereby is being acquired as an investment and not with a view to the distribution thereof, and that the Warrants such Warrant may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Underwriters or to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofEffective Date of the Public Offering, except (a) to a NASD member firm that participated in the DesigneesPublic Offering and the bona fide officers or partners thereof; (b) by operation of law or (c) by reason of reorganization of the Company.

Restriction on Transfer of Warrants. The Holder of a Warrant CertificateWarrants represented hereby, by the Holder's its acceptance thereofhereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to directors, officers, partners, employees or consultants of the DesigneesConsultant.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Underwriter or to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesUnderwriters or to officers of the selected dealers participating in the Initial Public Offering.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1l) year from the date hereof, except to officers or partners of the DesigneesUnderwriters or to any member of the Selling Group and/or their respective officers or partners.

Restriction on Transfer of Warrants. The Holder Holders of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of members of the Designeesselling group.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers and directors of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofhereof unless an exemption from the Securities Act of 1933, except to the Designeesas amended, is available therefor.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers and directors of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that neither the Warrants nor the shares of Series A Preferred Stock issuable upon exercise hereof may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees.unless and until:

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designeesof receipt thereof.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of the DesigneesUnderwriter. 6.

Restriction on Transfer of Warrants. The Each Holder of a Warrant Certificate, by the Holder's his, her or its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, thereof and that the Warrants may not be sold, transferred, assigned, pledged or hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesUnderwriter. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant ----------- -- -------- -- -------- Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers and employees of the DesigneesUnderwriter.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to direct family members or their affiliates. Any such person or entity who acquires any Warrants shall be subject to the Designeessame restrictions.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to the Designees.Effective

Restriction on Transfer of Warrants. The Holder of a Warrant --------------------------------------- Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an for investment purposes only and not with a view to the distribution thereof, thereof and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period except in compliance with the Securities Act of one 1933, as amended (1) year from the date hereof, except to the Designees"Securities Act").

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofhereof [the Effective Date], except to the Underwriter or to the Designees. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentatives. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant CertificateWarrants represented hereby, by the Holder's its acceptance thereofhereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers, directors, partners, employees or consultants of the DesigneesConsultant.

Restriction on Transfer of Warrants. The Holder Holders of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be soldare restricted from sale, transferred, assigned, hypothecated assignment or otherwise disposed of, in whole or in part, hypothecation for a period of one (1) year from the effective date hereof, of the offering except to officers or partners (not directors) of the Designeesunderwriter and members of the selling group and/or their officers or partners.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or shareholders of the DesigneesRepresentative.

Restriction on Transfer of Warrants. The Holder of a Warrant CertificateWarrant, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereofof issuance, except to officers of the DesigneesParticipating Dealer.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesQIU.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and ; that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of the DesigneesUnderwriters. 6.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, ; and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers of the DesigneesRepresentatives.

Restriction on Transfer of Warrants. The Holder of a Warrant Certificate, by the Holder's its acceptance thereof, covenants and agrees that the Warrants are being acquired as an investment and not with a view to the distribution thereof, and that the Warrants may not be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, for a period of one (1) year from the date hereof, except to officers or partners of the DesigneesUnderwriters. 8.