Restrictions--Securities Clause Samples
The "Restrictions--Securities" clause defines the limitations and conditions placed on the transfer, sale, or other disposition of securities covered by an agreement. Typically, this clause outlines requirements such as compliance with securities laws, obtaining necessary approvals, or observing lock-up periods before securities can be sold or transferred. For example, it may prohibit the resale of shares until a certain date or require that any transfer be registered or exempt from registration under applicable law. The core function of this clause is to ensure legal compliance and protect the interests of the issuer or other parties by controlling how and when securities can be transferred, thereby reducing regulatory risk and maintaining orderly markets.
Restrictions--Securities. The securities evidenced by this Unit Purchase Option shall not be transferred unless and until (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇▇ shall be deemed satisfactory evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the Registration Statement relating to such securities has been filed by the Company and declared effective by the Securities and Exchange Commission (the "Commission") and compliance with applicable state securities law has been established.
Restrictions--Securities. The securities evidenced by this Warrant shall not be transferred except as set forth in Section 9.1 unless and until (i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption from registration under the Act and applicable state securities laws, the availability of which is established to the reasonable satisfaction of the Company, or (ii) a registration statement or a post-effective amendment to the registration statement relating to such securities has been filed by the Company and declared effective by the Commission and compliance with applicable state securities law has been established.