Common use of Stock Restrictions Clause in Contracts

Stock Restrictions. No shares of stock or other securities issued upon exercise of the Option may be sold, assigned, pledged, hypothecated or otherwise transferred or disposed of in any way unless and until, in the opinion of counsel for the Company, such securities may be so transferred or disposed of without causing the Company to be in violation of or incur any liability under any federal, state or other securities laws, any requirement of any securities exchange listing agreement to which the Company may be a party, or any other requirement of law or of any regulatory body having jurisdiction over the Company.

Stock Restrictions. No shares of stock or other securities issued upon exercise of the Option may be sold, assigned, pledged, hypothecated or otherwise transferred or disposed of in any way unless and until, in the opinion of counsel for the Company, such securities may be so transferred or disposed of without causing the Company to be in violation of or incur any liability under any federal, state or other securities laws, any requirement of any securities exchange listing agreement to which the Company may be a party, or any other requirement of law or of any regulatory body having jurisdiction over the Company.transferred