Common use of Transfer of Common Stock Clause in Contracts

Transfer of Common Stock. The Shares underlying the Options ------------------------- shall not be transferred unless (I) the Company has received the opinion of counsel, satisfactory to the Company, that such shares may be transferred pursuant to an exemption from registration under the Act and in compliance with applicable state securities laws, or (ii) the transfer is made pursuant to an effective registration statement under the Act in compliance with applicable state securities laws.

Transfer of Common Stock. The Shares shares of Common Stock underlying the Options ------------------------- this Purchase Option, shall not be transferred unless (Ii) the Company has received the opinion of counsel, satisfactory to the Company, that such shares may be transferred pursuant to an exemption from registration under the Act and in compliance with applicable state securities laws, or (ii) the transfer is made pursuant to an effective registration statement under the Act and in compliance with applicable state securities laws.

Transfer of Common Stock. The Shares underlying the Options ------------------------- shall not be transferred unless (I) the Company has received the opinion of counsel, satisfactory to the Company, that such shares may be transferred pursuant to an exemption from registration under the Act and in compliance with applicable state securities laws, or (ii) the transfer is made pursuant to an effective registration statement under the Act in compliance with applicable state securities laws.