Common use of Registration Under the Securities Act of 1933 Clause in Contracts

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as As of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject The Holder by his acceptance hereof, covenants and agrees that the Options are being acquired as an investment and not with a view to the Registration Rights Agreement between distribution thereof. Each certificate representing the Company and the Holders dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities other securities issuable upon exercise of an Option (collectively, the Warrants have not been registered "Option Shares") shall bear the following legend unless (i) the Options or Option Shares are distributed to the public or sold to the underwriters for distribution to the public pursuant to a registration statement filed under the Securities Act of 1933, as amended (the "Act"). Upon exercise, or (ii) the Company has received an opinion of counsel, in whole or in partform and substance reasonably satisfactory to counsel for the Company, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and that such legend is unnecessary for any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereofcertificate: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTSECURITIES ACT OF 1933, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE SUCH ACT (OR ANY SIMILAR RULE UNDER THE SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO FOR THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE SUCH ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares Shares, and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"), pursuant to the Company's Registration Statement on Form S-1 (Registration No. Upon 333-_____) (the "Registration Statement"). All of the representations and warranties of the Company contained in the Underwriting Agreement relating to the Registration Statement, the Preliminary Prospectus and Prospectus (as such terms are defined in the Underwriting Agreement) and made as of the dates provided therein, are hereby incorporated by reference. The Company agrees and covenants promptly to file post-effective amendments to such Registration Statement as may be necessary in order to maintain its effectiveness and otherwise to take such action as may be necessary to maintain the effectiveness of the Registration Statement as long as any Warrants are outstanding. In the event that, for any reason, whatsoever, the Company shall fail to maintain the effectiveness of the Registration Statement, upon exercise, in whole part or in partwhole, of the Warrants, a certificate certificates representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously legend: The securities represented by this certificate have not been registered under the Securities Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF of 1933, AS AMENDED as amended ("ACTAct"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO and may not be offered or sold except pursuant to (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTan effective registration statement under the Act, (ii) TO THE EXTENT APPLICABLEto the extent applicable, RULE Rule 144 UNDER THE ACT under the Act (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIESor any similar rule under such Act relating to the disposition of securities), OR or (iii) AN OPINION OF COUNSELan opinion of counsel, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUERif such opinion shall be reasonably satisfactory to counsel to the issuer, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLEthat an exemption from registration under such Act is available.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate certificates representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares shares of Common Stock and any the Redeemable Warrants underlying the Warrants and the shares of Common Stock issuable upon exercise of the Other Securities Redeemable Warrants underlying the Warrants and the other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") have not been registered under the Securities Act of 1933, as amended (the "Act"), but shall be subject to the piggyback and demand registration rights provided for in Section 7.2 and 7.3 hereof. Upon All the representations and warranties of the Company contained in the Underwriting Agreement relating to the Registration Statement, the Preliminary Prospectus and Prospectus (as such terms are defined in the Underwriting Agreement) and made as of the dates provided therein, are hereby incorporated by reference. Certificates representing the shares of Common Stock and the Redeemable Warrants underlying the Warrants, and upon exercise, in whole or in part, part of the Redeemable Warrants, a certificate certificates representing the Warrant Shares shares of Common Stock underlying the Warrants, Redeemable Warrants and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously legend: "The securities represented by this certificate have not been registered under the Securities Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF of 1933, AS AMENDED as amended ("ACTAct"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO and may not be offered, sold, pledged, hypothecated, assigned or transferred except pursuant to (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTan effective registration statement under the Act, (ii) TO THE EXTENT APPLICABLEto the extent applicable, RULE Rule 144 UNDER THE ACT under the Act (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIESor any similar rule under such Act relating to the disposition of securities), OR or (iii) AN OPINION OF COUNSELan opinion of counsel, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.if such opinion shall be reasonably satisfactory to counsel to the

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares or other securities previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the WarrantsEach Warrant, the Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants a Warrant ("Other Securities") have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrantsa Warrant, a certificate representing the Warrant Shares underlying the Warrantssuch Warrant, and any of the Other Securities issuable upon exercise of the Warrants such Warrant (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereofof the Stock Purchase Agreement: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, OR (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE. A Warrant may be sold, transferred, assigned, hypothecated or otherwise disposed of, in whole or in part, without restriction, subject to compliance with applicable securities laws.

Registration Under the Securities Act of 1933. Subject Warrant Holder represents and warrants to the Registration Rights Agreement between Company that Warrant Holder is acquiring the Company Replacement Warrants for investment and the Holders dated as with no present intention of the date hereof, the Warrants, the Warrant Shares and distributing or reselling any of the Other Securities issuable upon exercise of Replacement Warrants. The Shares and the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole certificate or in part, of the Warrants, a certificate representing the Warrant certificates evidencing any such Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereoflegend: "THE SECURITIES SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF CERTAIN STATES, AND MAY NOT BE OFFERED OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR SOLD OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTACT AND ANY APPLICABLE STATE LAWS, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND APPLICABLE STATE LAW IS AVAILABLE. Certificates for Replacement Warrants or Shares shall also bear such legends as may be required from time to time by law.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares Ownership Interests and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares Ownership Interests underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares Ownership Interests previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares shares of Common Stock and any of the Other Securities Redeemable Warrants or other securities issuable upon exercise of the Warrants, and the shares of Common Stock or other securities issuable upon exercise of the Redeemable Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exerciseThe Warrants, and upon exercise in part or in whole of the Warrants, certificates representing the shares of Common Stock and the Redeemable Warrants or other securities underlying the Warrants, and, upon exercise in whole or in part, part of the Redeemable Warrants, a certificate certificates representing the Warrant Shares shares of Common Stock or other securities underlying the Warrants, and any Redeemable Warrants (all of the Other Securities issuable upon exercise of the Warrants (collectively, foregoing hereinafter collectively referred to as the "Warrant Securities") shall bear a legend substantially similar to the following legend unless such Warrant Shares previously following: The securities represented by this certificate have not been registered under the Securities Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF of 1933, AS AMENDED as amended ("ACTAct"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO and may not be offered or sold except pursuant to (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTan effective registration statement under the Act, (ii) TO THE EXTENT APPLICABLEto the extent applicable, RULE Rule 144 UNDER THE ACT under the Act (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIESor any similar rule under such Act relating to the disposition of securities), OR or (iii) AN OPINION OF COUNSELan opinion of counsel, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUERif such opinion shall be reasonably satisfactory to counsel to the issuer, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLEthat an exemption from registration under such Act is available.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders Holder dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: . THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), ) AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company The Warrants and the Holders dated as shares of Common Stock underlying the date hereof, the Warrants, the Warrant Shares Warrants and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") have not been registered under the Securities Act of 1933, as amended (the "Act") pursuant to the Company's Registration Statement on Form SB-2 (Registration No. 333-31969) (the "Registration Statement"). Upon All the representations and warranties of the Company contained in the Underwriting Agreement relating to the Registration Statement, the Preliminary Prospectus and Prospectus (as such terms are defined in the Underwriting Agreement) and made as of the dates provided therein, are hereby incorporated by reference. The Company agrees and covenants promptly to file post effective amendments to such Registration Statement as may be necessary to maintain the effectiveness of the Registration Statement as long as any Warrants are outstanding. In the event that, for any reason, whatsoever, the Company shall fail to maintain the effectiveness of the Registration Statement, upon exercise, in whole part or in partwhole, of the Warrants, a certificate certificates representing the Warrant Shares shares of Common Stock underlying the Warrants, Warrants and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously legend: The securities represented by this certificate have not been registered under the Securities Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF of 1933, AS AMENDED as amended ("ACTAct"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO and may not be offered, sold, pledged, hypothecated, assigned or transferred except pursuant to (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTan effective registration statement under the Act, (ii) TO THE EXTENT APPLICABLEto the extent applicable, RULE Rule 144 UNDER THE ACT under the Act (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIESor any similar rule under such Act relating to the disposition of securities), OR or (iii) AN OPINION OF COUNSELan opinion of counsel, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUERif such opinion shall be reasonably satisfactory to counsel to the issuer, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLEthat an exemption from registration under such Act is available.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares and any of the Other Securities securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole part or in partwhole, of the Warrants, a certificate certificates representing the Warrant Shares Common Stock underlying the Warrants, Warrants and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant SecuritiesShares") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereoflegend: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (iI) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (iiII) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iiiIII) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE SUCH ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the --------------------------------------------- Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: E-105 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders Holder dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the --------------------------------------------- Warrant Shares and any of the Other Securities other securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company and the Holders dated as of the date hereof, the The Warrants, the Warrant Shares Units, including the shares of Common Stock and any the Redeemable Warrants that are included in the Units, and the shares of the Other Securities Common Stock issuable upon exercise of the Redeemable Warrants have not been registered under the Securities Act of 1933, as amended (the "Securities Act"). Upon exercise, in part or in. whole, of the Warrants, certificates evidencing the shares of Common Stock, the Redeemable Warrants and upon exercise of the Redeemable Warrants, in whole or in part, certificates evidencing the shares of the Warrants, a certificate representing the Warrant Shares Common Stock underlying the Warrants, Redeemable Warrants and any of the Other Securities other securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereoflegend: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO The securities represented by this certificate may not be offered or sold except pursuant to (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACTan effective registration statement under the Securities Act of 1933, as amended (the "Securities Act"), (ii) TO THE EXTENT APPLICABLEto the extent applicable, RULE Rule 144 UNDER THE ACT under the Securities Act (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIESor any similar rule under the Securities Act relating to the disposition of securities), OR or (iii) AN OPINION OF COUNSELan opinion of counsel, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUERif such opinion shall be reasonably satisfactory to counsel to CHIPCARDS, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLEINC., that an exemption from registration under the Securities Act is available.

Registration Under the Securities Act of 1933. Subject to the Registration Rights Agreement between the Company Company, the Holder and the Holders certain other persons dated as of the date hereof, the Warrants, the Warrant Shares and any of the Other Securities issuable upon exercise of the Warrants have not been registered under the Securities Act of 1933, as amended (the "Act"). Upon exercise, in whole or in part, of the Warrants, a certificate representing the Warrant Shares underlying the Warrants, and any of the Other Securities issuable upon exercise of the Warrants (collectively, the "Warrant Securities") shall bear the following legend unless such Warrant Shares previously have been registered under the Act in accordance with the terms hereof: THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED ("ACT"), AND MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER THE ACT (OR ANY SIMILAR RULE UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER THE ACT IS AVAILABLE.