Common use of Transferability and Non-negotiability of Warrant Clause in Contracts

Transferability and Non-negotiability of Warrant. Neither this Warrant nor the shares of Common Stock issuable upon exercise of this Warrant (the "Purchased Shares") may be sold, offered for sale, assigned, pledged, hypothecated, encumbered or in any other manner transferred or disposed of, in whole or in part, without compliance with all applicable federal and state securities laws by the transferor and the transferee (including the delivery of investment representation letters and, except as excluded below, legal opinions reasonably satisfactory to the Company, if such are requested by the Company).

Transferability and Non-negotiability of Warrant. Neither this Warrant nor the shares of Common Stock Shares or other securities issuable upon exercise of this Warrant (the "Purchased Shares") may be sold, offered for sale, assigned, pledged, hypothecated, encumbered or in any other manner transferred or disposed of, in whole or in part, without compliance with all applicable federal and state securities laws by the transferor and the transferee (including the delivery of investment representation letters and, except as excluded below, legal opinions reasonably satisfactory to the Company, if such are requested by the Company)transferee.