Common use of Securities Act, etc Clause in Contracts

Securities Act, etc. In the absence of an effective Registration Statement under the Securities Act of 1933, as from time to time in effect (the "ACT"), relating thereto, the Company shall not be required to register a transfer of shares delivered or deliverable upon exercise of the Options ("DELIVERED SHARES") on its books unless the Company shall have been provided with an opinion of counsel satisfactory to it prior to such transfer that registration under the Act is not required in connection with the transaction resulting in such transfer. Each certificate evidencing Delivered Shares or issued upon any transfer of Delivered Shares shall bear an appropriate restrictive legend, except that such certificate shall not bear such a restrictive legend if the opinion of counsel referred to above is to the further effect that such legend is not required in order to establish compliance with the provisions of the Act. Nothing in this paragraph 2 shall modify or otherwise affect the provisions applicable to the Delivered Shares.

Securities Act, etc. In the absence of an effective Registration Statement under the Securities Act of 1933, as from time to time in effect (the "ACT"), relating thereto, the Company shall not be required to register a transfer of shares delivered or deliverable upon exercise of the Options ("DELIVERED SHARES") on its books unless the Company shall have been provided with an opinion of counsel satisfactory to it prior to such transfer that registration under the Act is not required in connection with the transaction resulting in such transfer. Each certificate evidencing Delivered Shares or issued upon any transfer of Delivered Shares shall bear an appropriate restrictive legend, except that such certificate shall not bear such a restrictive legend if the opinion of counsel referred to above is to the further effect that such legend is not required in order to establish compliance with the provisions of the Act. Nothing in this paragraph 2 shall modify or otherwise affect effect the provisions applicable to the Delivered Shares.

Securities Act, etc. In the absence of an effective Registration Statement under the Securities Act of 19331933 (the "Act"), as from time to time in effect (the "ACT"), relating thereto, the Company shall not be required to register a transfer of shares delivered or deliverable upon exercise of the Options ("DELIVERED SHARESDelivered Shares") on its books unless the Company shall have been provided with an opinion of counsel satisfactory to it prior to such transfer that registration under the Act is not required in connection with the transaction resulting in such transfer. Each certificate evidencing Delivered Shares or issued upon any transfer of Delivered Shares shall bear an appropriate restrictive legend, except that such certificate shall not bear such a restrictive legend if the opinion of counsel referred to above is to the further effect that such legend is not required in order to establish compliance with the provisions of the Act. Nothing in this paragraph 2 shall modify or otherwise affect effect the provisions applicable to the Delivered Shares.