Common use of Restrictions Imposed by the Securities Act Clause in Contracts

Restrictions Imposed by the Securities Act. This Purchase Option and the Shares underlying this Purchase Option shall not be transferred unless and until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the Shares, as the case may be, may be transferred pursuant to an exemption from registration under the Securities Act and applicable state law, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration statement relating to such Purchase Option or Shares, as the case may be, has been filed by the Company and declared effective by the Shares and Exchange Commission (the "SEC”) and remains effective and current and is in compliance with applicable state law.

Restrictions Imposed by the Securities Act. This Purchase Option and the Shares Securities underlying this Purchase Option shall not be transferred unless and until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the SharesSecurities, as the case may be, may be transferred pursuant to an exemption from registration under the Securities Act and applicable state law, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration statement relating to such Purchase Option or SharesSecurities, as the case may be, has been filed by the Company and declared effective by the Shares Securities and Exchange Commission (the "SEC”Commission") and remains effective and current and is in compliance with applicable state law.

Restrictions Imposed by the Securities Act. This Purchase Option and the Shares underlying this Purchase Option shall not be transferred unless and until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the Shares, as the case may be, may be transferred pursuant to an exemption from registration under the Securities Act and applicable state law, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration statement relating to such Purchase Option or Shares, as the case may be, has been filed by the Company and declared effective by the Shares and Exchange Commission (the "SEC”") and remains effective and current and is in compliance with applicable state law.

Restrictions Imposed by the Securities Act. This Purchase Option and the Shares Securities underlying this Purchase Option shall not be transferred unless and until (i) the Company has received the opinion of counsel for the Holder that this Purchase Option or the SharesSecurities, as the case may be, may be transferred pursuant to an exemption from registration under the Securities Act and applicable state law, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration statement relating to such Purchase Option or SharesSecurities, as the case may be, has been filed by the Company and declared effective by the Shares Securities and Exchange Commission (the "SEC”") and remains effective and current and is in compliance with applicable state law.