Common use of RESTRICTIONS ON TRANSFERABILITY OF SECURITIES AND REGISTRATION RIGHTS Clause in Contracts

RESTRICTIONS ON TRANSFERABILITY OF SECURITIES AND REGISTRATION RIGHTS. The HOLDER hereby agrees that unregistered shares of STOCK ("Restricted Securities") issued upon exercise of the OPTION, in whole or in part, shall not be transferable except upon the conditions specified in this Section 7., which conditions are intended to insure compliance with the provisions of the ACT, or, in the case of Paragraph 7.12. hereof, to assist in an orderly distribution. The HOLDER shall cause any proposed transferee of the Restricted Securities held by the HOLDER to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Section 7.

RESTRICTIONS ON TRANSFERABILITY OF SECURITIES AND REGISTRATION RIGHTS. The HOLDER hereby agrees that unregistered shares of STOCK ("Restricted Securities") issued upon exercise of the OPTION, in whole or in part, shall not be transferable except upon the conditions specified in this Section 7., which conditions are solely intended to insure compliance with the provisions of the ACT, or, in the case of Paragraph 7.12. 7.12 hereof, to assist in an orderly distribution. The HOLDER shall cause any proposed transferee of the Restricted Securities held by the HOLDER to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Section 7.