Common use of Securities Law Requirement Clause in Contracts

Securities Law Requirement. The Corporation shall not be required to issue shares upon exercise of the Option unless and until: (a) such shares have been duly listed upon each stock exchange on which the Corporation’s Common Stock is then registered; and (b) a registration statement under the Securities Act of 1933 with respect to such shares is then effective.

Securities Law Requirement. The Corporation shall not be required to issue shares Shares upon exercise of the Option unless and until: (a) such shares Shares have been duly listed upon each stock exchange on which the Corporation’s Common Stock is then registered; and (b) a registration statement under the Securities Act of 1933 1933, as amended, with respect to such shares Shares is then effective.