Common use of Unregistered Shares Clause in Contracts

Unregistered Shares. Holder understands that the shares of common stock to be issued to Holder pursuant to the Warrant (the “Warrant Shares”) will not be registered within any designated timeframe thereafter under the Securities Act of 1933, as amended (the “Securities Act”). Holder also understands that issuance of the Warrant Shares will be pursuant to an exemption from registration contained in the Securities Act based in part upon Holder’s representations herein.