Common use of Securities Law Restrictions on Transfer Clause in Contracts

Securities Law Restrictions on Transfer. The Buyer understands that Buyer may not transfer any Shares unless such Shares are registered under the 1933 Act or qualified under the applicable securities laws or unless an exemption from such registration and qualification requirements is available. The Buyer understands that only the Company may file a registration statement with the SEC or applicable securities commissioners. The Buyer has also been advised that exemptions from registration and qualification may not be available or may not permit the Buyer to transfer all or any of the Shares in the amounts or at the times proposed by the Buyer.

Securities Law Restrictions on Transfer. The Buyer Purchaser understands that Buyer Purchaser may not transfer any Shares unless such Shares are registered under the 1933 Act or qualified under the other applicable securities laws or unless an exemption from such registration and qualification requirements is available. The Buyer Purchaser understands that only the Company may file a registration statement with the SEC or applicable securities commissionersand that the Company is under no obligation to do so with respect to the Shares. The Buyer Purchaser has also been advised that exemptions from registration and qualification may not be available or may not permit the Buyer Purchaser to transfer all or any of the Shares in the amounts or at the times proposed by the BuyerPurchaser.

Securities Law Restrictions on Transfer. The Buyer Purchaser understands that Buyer Purchaser may not transfer any Purchased Shares unless such Shares are registered under the 1933 Act or qualified under the Law or other applicable securities laws or unless an exemption from such registration and qualification requirements is available. The Buyer Purchaser understands that only the Company may file a registration statement with the SEC or applicable securities commissionersand that the Company is under no obligation to do so with respect to the Purchased Shares. The Buyer Purchaser has also been advised that exemptions from registration and qualification may not be available or may not permit the Buyer Purchaser to transfer all or any of the Purchased Shares in the amounts or at the times proposed by the BuyerPurchaser.

Securities Law Restrictions on Transfer. The Buyer Purchaser understands that Buyer Purchaser may not transfer any Transferred Shares unless such Transferred Shares are registered under the 1933 Securities Act or qualified under the any applicable securities laws law or unless an exemption unless, in the opinion of counsel to the Company, exemptions from such registration and qualification requirements is are available. The Buyer Purchaser understands that only the Company may file a registration statement with the SEC or any other applicable securities commissioners. The Buyer Purchaser has also been advised that exemptions from registration and qualification may not be available or may not permit the Buyer Purchaser to transfer all or any of the Transferred Shares in the amounts or at the times proposed by the BuyerPurchaser.