Common use of Legend Removal Clause in Contracts

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 23 contracts

Samples: Securities Purchase Agreement (CarbonMeta Technologies, Inc.), Securities Purchase Agreement (Global Technologies LTD), Securities Purchase Agreement (Global Technologies LTD)

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Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144144 (in the case of a non-Affiliate of the Company), without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 9 contracts

Samples: Securities Purchase Agreement (GT Biopharma, Inc.), Securities Purchase Agreement (GT Biopharma, Inc.), Securities Purchase Agreement (GT Biopharma, Inc.)

Legend Removal. Certificates evidencing the Underlying Conversion Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Conversion Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised exercised, or Shares are converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Warrant Shares or Conversion Shares, as applicable, or if such Underlying Warrant Shares or Conversion Shares, as applicable, may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Warrant Shares or Conversion Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Conversion Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 4 contracts

Samples: Securities Purchase Agreement (DropCar, Inc.), Securities Purchase Agreement (DropCar, Inc.), Securities Purchase Agreement (WPCS International Inc)

Legend Removal. Certificates evidencing the Underlying Shares shall not be required to contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a any registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel or other counsel reasonably acceptable to Purchaser to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading DaysDays after delivery by Purchaser of such unlegended Share certificate). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 3 contracts

Samples: Securities Purchase Agreement (PV Nano Cell, Ltd.), Securities Purchase Agreement (PV Nano Cell, Ltd.), Securities Purchase Agreement (PV Nano Cell, Ltd.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend legends set forth in Section 4.1(b) hereof): (i) stipulated in NI 45-102 as of the date which falls four months and one day from the date of issuance of the Convertible Debenture; (ii) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissionany agency or Trading Market with regard to Applicable Law). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are the Convertible Debenture is converted or any portion of a Warrant is the Warrants are exercised (i) on or after such day which falls four months and one day from the date of issuance of the Convertible Debenture, then such Underlying Shares shall be issued free of all Canadian legends; or (ii) at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all United States legends. The Company agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d), it will, no later than five (5) Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such the Purchaser.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Western Magnesium Corp.), Securities Purchase Agreement (Western Magnesium Corp.), Securities Purchase Agreement (Western Magnesium Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Genius Brands International, Inc.), Securities Purchase Agreement (Immudyne, Inc.), Securities Purchase Agreement (XpresSpa Group, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder; provided that the holder of the restricted shares reasonably cooperates with counsel for the Company in providing information for the preparation and issuance of the legal opinion to review the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Creative Medical Technology Holdings, Inc.), Securities Purchase Agreement (Creative Medical Technology Holdings, Inc.), Securities Purchase Agreement (Creative Medical Technology Holdings, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend The legends set forth in Section 4.1(b4.8(b) hereof): above shall be removed and the Company shall instruct its transfer agent for the Common Stock (the “Transfer Agent”) to register the Shares in book-entry form free and clear of such legends or any other legends by electronic delivery at the applicable balance account at the Depository Trust Company, if (i) while a such Shares have been resold under an effective registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale such Shares are sold or transferred in connection with a resale transaction in compliance with Rule 144 (if the transferor is not an Affiliate of such Underlying Shares pursuant to Rule 144the Company), or (iii) if such Underlying Shares are eligible for sale resale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission)restrictions. The Company further agrees that it shall cause its counsel (i) after the effective date of a registration statement registering the resale of the Shares, to issue to the Transfer Agent, if required by the Transfer Agent, a “blanket” legal opinion or other letter to allow sales without restriction pursuant to the effective registration statement and (ii) provide all other opinions of counsel as may reasonably be required by the Transfer Agent in connection with the removal of legends pursuant to this Section 7.6. Following Rule 144 becoming available for the resale of the Shares, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to the Shares and without volume or manner-of-sale restrictions, the Company, upon the request of the Purchaser, shall cause Company counsel or other counsel satisfactory to the Transfer Agent during to issue to the time any Transfer Agent a legal opinion stating that the Shares are eligible for sale under Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions. Any fees (with respect to the Transfer Agent, Company counsel or otherwise) associated with the issuance of the aforedescribed conditions apply, to effect such opinion or the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may legends shall be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued borne by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)Company. The Company may not make any notation on its records or give * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission. instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject 4.8(b), other than with respect to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker any lock-up restrictions in connection with the Depository Trust Company System as directed by such PurchaserSection 7.3.

Appears in 2 contracts

Samples: Stock Purchase Agreement, Stock Purchase Agreement (Fate Therapeutics Inc)

Legend Removal. Certificates evidencing The Company shall, at its sole expense, upon appropriate notice from any Purchaser stating that Registrable Securities have been sold pursuant to an effective Secondary Registration Statement, under Rule 144, or any other exemption from the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective requirements under the Securities Act, within the Standard Settlement Period of such notice if such notice is received before 5:00 p.m. on a Business Day (and if such notice is received after 5:00 p.m. Eastern time on a Business Day, within the Standard Settlement Period from the following Business Day), cause its transfer agent to timely prepare and deliver certificates or book-entry shares representing the Shares and Warrant Shares to be delivered to a transferee pursuant to such sale, which certificates or book-entry shares shall be free of any restrictive legends and in such denominations and registered in such names as such Purchaser may request. Further, the Company shall, at its sole expense, cause its legal counsel or other counsel satisfactory to the transfer agent: (i) while the Secondary Registration Statement is effective, to issue to the transfer agent a “blanket” legal opinion to allow sales without restriction pursuant to the effective Secondary Registration Statement, and (ii) provide all other opinions as may reasonably be required by the transfer agent in connection with the removal of legends. A Purchaser may request that the Company remove, and the Company agrees to authorize the removal of, any legend from such Securities, following the delivery by a Purchaser to the Company or the Company’s transfer agent of either a legended certificate representing such Securities or, if the Securities are issued in book-entry form, a written request for legend removal: (i) following any sale of such Underlying Shares Securities pursuant to Rule 144144 or any other applicable exemption from the registration requirements under the Securities Act, or (iiiii) if such Underlying Shares are eligible for sale under Rule 144following the time that the Secondary Registration Statement is declared effective. If a legend removal request is made pursuant to the foregoing, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days the Standard Settlement Period following the delivery by the a Purchaser to the Company or the Transfer Agent Company’s transfer agent of a legended certificate representing Underlying Sharessuch Securities (or a request for legend removal, as applicable, in the case of Securities issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”in book-entry form), deliver or cause to be delivered to such Purchaser a certificate representing such shares Securities that is free from all restrictive and other legends (howeveror an equivalent book-entry position, as requested by the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1Purchaser. Certificates for Underlying Shares subject to legend removal hereunder shall Securities free from all restrictive legends may be transmitted by the Transfer Agent Company’s transfer agent to the a Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System (“DTC”) as directed by such Purchaser. The Company warrants that the Securities shall otherwise be freely transferable on the books and records of the Company as and to the extent provided in this Agreement. If a Purchaser effects a transfer of the Securities in accordance with Section 5.11, the Company shall permit the transfer and shall promptly instruct its transfer agent to issue one or more certificates or credit shares to the applicable balance accounts at DTC in such name and in such denominations as specified by such Purchaser to effect such transfer. Each Purchaser hereby agrees that the removal of the restrictive legend pursuant to this Section 8.9 is predicated upon the Company’s reliance that such Purchaser will sell any such Securities pursuant to either the registration requirements of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and such Purchaser shall deliver a certificate reasonably satisfactory to the Company to the foregoing effect. Prior to the Company and its transfer agent agreeing to a form of representation letter to be given in connection with any legend removal opinion, the Company shall allow each Purchaser to review such form and shall cooperate, reasonably and in good faith, and accept reasonable comments thereto from the Purchasers; and provided, further, that in no event shall the Purchaser be required to agree to indemnify, defend or hold harmless any Person.

Appears in 2 contracts

Samples: Securities Purchase Agreement (CervoMed Inc.), Securities Purchase Agreement (CervoMed Inc.)

Legend Removal. Certificates evidencing The Company shall cause any Common Stock issued to a Holder pursuant to the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a BCA that is covered for resale by an effective registration statement covering with the resale of Commission to be issued without any restrictive legends due to the fact that such security is effective Common Stock was issued in a transaction that was not a registered offering under the Securities ActAct and, if requested by any Holder, cause to be delivered to the Holder such Common Stock by crediting the account of the Holder’s prime broker with DTC through its Deposit/Withdrawal at Custodian (iiDWAC) following any sale of system, in each case, free from such Underlying Shares pursuant to Rule 144, restrictive legends and stop transfer instructions (iiior similar notations) if such Underlying Shares are eligible for sale under Rule 144, and without the requirement for any Holder to deliver any documentation affixed with a medallion guarantee. To the extent any Registrable Securities do bear any other restrictive legend at any time, the Company shall cause such restrictive legends related to the book-entry account holding any Holder’s Registrable Securities (or certificates related thereto) to be in compliance with the current public information required under Rule 144 as removed (and such Registrable Securities shall not be subject to such Underlying Shares any stop-transfer instructions), and without volume or manner-of-sale restrictions or (iv) the requirement for any Holder to deliver any documentation affixed with a medallion guarantee if such legend is not required Registrable Securities are registered for resale under applicable requirements of the Securities Act (including judicial interpretations provided that, such Holder agrees that if a Holder is selling pursuant to the effective registration statement registering the Registrable Securities for resale, it shall only sell such Registrable Securities under such registration statement, during such time that such registration statement is effective and pronouncements issued not withdrawn or suspended, and only as permitted by the staff of the Commissionsuch registration statement and such Holder provides customary documentation in support thereof). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions applyagrees that, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d)the foregoing conditions are met, it will, no later than five the earlier of (x) two (2) Trading Days and (y) the number of Trading Days comprising the Standard Settlement Period following the delivery by the Purchaser Holder to the Company or the Transfer Agent transfer agent for the Registrable Securities of a book-entry account or certificate representing Underlying Shares, as applicable, Registrable Securities issued with a restrictive legend (legend, deliver or cause the transfer agent to deliver to the Holder a book-entry account or certificate representing such fifth Trading DayRegistrable Securities or, at the “Legend Removal Date”)request of the Holder, deliver or cause to be delivered the Registrable Securities to such Purchaser a certificate representing such shares that is the Holder by crediting the account of the Holder’s prime broker with DTC through its Deposit/Withdrawal at Custodian (DWAC) system, in each case, free from all restrictive and other legends and stop transfer instructions (or similar notations). Each Holder shall have the right to pursue any remedies available to it hereunder, or otherwise at law or in equity, including a decree of specific performance and/or injunctive relief, with respect to the Company’s failure to timely deliver Registrable Securities without legend as required pursuant to the terms hereof. For purposes hereof, “Trading Day” means any day on which the Registrable Securities are traded for any period on Nasdaq or, if Nasdaq is not the principal trading market for the Registrable Securities, on the principal trading market or other securities exchange or market on which the Registrable Securities then being traded; provided, however, that during any period in which the Corporation Registrable Securities not listed or quoted on Nasdaq or any other securities exchange or market, the term “Trading Day” shall use reasonable best efforts to deliver such shares within three (3) mean a business day, and “Standard Settlement Period” means, as of any date, the standard settlement period for equity trades effected on securities exchanges in the United States, expressed in a number of Trading Days). The Company may not make any notation , as in effect on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserdate.

Appears in 2 contracts

Samples: Registration Rights Agreement (Solid Power, Inc.), Business Combination Agreement and Plan of Reorganization (Decarbonization Plus Acquisition Corp III)

Legend Removal. Certificates evidencing the Underlying Conversion Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Conversion Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes Shares are converted or any portion of a Warrant is exercised converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Conversion Shares, or if such Underlying Conversion Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Conversion Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, the Conversion Shares issued with a restrictive legend (such fifth second Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Gratitude Health, Inc.), Securities Purchase Agreement (Gratitude Health, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder; provided that the holder of the restricted shares reasonably cooperates with counsel for the Company in providing information for the preparation and issuance of the legal opinion to review the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Integrated Ventures, Inc.), Securities Purchase Agreement (Integrated Ventures, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares and the Warrant Shares shall not be required to contain any restrictive legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b3.4(a) hereofof this Agreement): (i) while a registration statement (including the Registration Statement) covering the resale of such security securities is effective under the Securities Act, provided that the holder thereof covenants that in connection with each sale of such securities, a copy of the final prospectus that forms a part of such registration statement will be delivered in accordance with the provisions of Section 5(b)(2) of the Securities Act, and the rules and regulations promulgated thereunder; (ii) following any sale of such Underlying Shares securities pursuant to Rule 144, 144 under the Securities Act in the opinion of counsel to the Company; (iii) if such Underlying Shares securities are eligible for sale under Rule 144, without 144(k) under the requirement for Securities Act in the Company opinion of counsel to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions Company; or (iv) if such legend is not required under applicable requirements law, or, in the opinion of the Company’s counsel, in accordance with Rule 502(d) under the Securities Act (including judicial Act, or other interpretations and pronouncements issued by the staff of the Commission). The Upon request of the holder, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, Company’s transfer agent promptly to effect the removal of such legend pursuant to the legend hereunderforegoing sentence. If all or any Notes are converted or any a portion of a the Warrant is exercised at a time when there is an effective registration statement to cover (including the Registration Statement) covering the resale of the corresponding Underlying Shares, or if such Underlying Warrant Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by Act, the staff of the Commission) then certificate evidencing such Underlying Warrant Shares shall be issued free of all restrictive legends, provided that the holder thereof covenants that in connection with each sale of such securities, a copy of the final prospectus that forms a part of such registration statement will be delivered in accordance with the provisions of Section 5(b)(2) of the Securities Act, and the rules and regulations promulgated thereunder. The Company agrees that following at such time as such restrictive legend is no longer not required under as provided in this Section 4.1(d)4.2, it will, no later than five Trading Days as soon as practicable following the delivery by the Purchaser holder to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Underlying the Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”)case may be, deliver or cause to be delivered to such Purchaser holder a certificate representing such shares securities that is free from all restrictive and other legends (howeverlegends. Unless otherwise required by law or judicial order, the Corporation Company shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give any instructions to the Transfer Agent its transfer agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such PurchaserAgreement.

Appears in 2 contracts

Samples: Common Stock and Warrant Purchase Agreement (Sontra Medical Corp), Common Stock and Warrant Purchase Agreement (Sontra Medical Corp)

Legend Removal. Certificates evidencing the Underlying Shares Securities shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares Securities pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company counsel shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect affect the removal of the legend hereunder. The Company shall allow the Transfer Agent to accept opinions from the Purchaser’s counsel and if the Transfer Agent accept such opinion, the Company will be relieved of its obligation to prove the opinion to the Transfer Agent. If all or any Notes Shares are converted or any portion of a Warrant is exercised converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such the Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five three Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing the Underlying Shares, as applicable, issued with a restrictive legend (such fifth third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 2 contracts

Samples: Exchange Agreement (Quad M Solutions, Inc.), Securities Purchase Agreement (Textmunication Holdings, Inc.)

Legend Removal. Certificates (or electronic versions thereof to the extent the Shares are held in book-entry form) evidencing the Underlying Shares shall not contain any legend legend: (“Unlegended Shares”i) following any sale of the Shares pursuant to Rule 144 or any resale of the Shares pursuant to a registration statement (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities ActRegistration Statement), (ii) following any sale the six-month anniversary of such Underlying Shares pursuant to Rule 144, (iii) the Closing Date if such Underlying the Shares are eligible for sale under Rule 144, 144 without the requirement for volume or manner-of-sale restrictions and as of such date the Company to be is in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions the Shares, or (iviii) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) (each such event being a “Legend Removal Qualification Event”). The Upon request, the Company shall cause its counsel to issue a legal opinion to the Transfer Agent during Agent, if required by the time Transfer Agent, promptly after a Legend Removal Qualification Event and the delivery to the Company or the Company’s counsel of any reasonable certifications requested by the Company or the Company’s counsel in connection with the issuance of the aforedescribed conditions apply, such opinion to effect the removal of the legend hereunderhereunder with respect to any qualifying Shares. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is Following an effective registration statement to cover applicable Legend Removal Qualification Event, the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, will no later than five Trading Days three (3) trading days following the delivery by the Purchaser a Holder to the Company or the Transfer Agent (with notice to the Company) of a legended certificate representing Underlying Sharesthe Shares (endorsed or with stock powers attached, as applicablesignatures guaranteed, issued with and otherwise in form necessary to affect the reissuance and/or transfer) or an electronic version thereof (to the extent the Shares are held in book-entry form) and any reasonable certifications from the Holder requested by the Company or the Company’s counsel in order to effectuate a restrictive legend (such fifth Trading Day, the “Legend Removal Date”)removal, deliver or cause to be delivered to such Purchaser Holder a certificate representing such shares Shares that is free from all restrictive and other legends (howeveror to the extent the Shares are held in book-entry form, effect the removal of restrictive and other legends on such Shares held by the Depository Trust Company). In addition, promptly upon request of a Holder, the Corporation Company shall use cause its counsel to promptly, but in no event later than two (2) trading days after such request and the delivery to the Company or the Company’s counsel of any reasonable best efforts certifications requested by the Company or the Company’s counsel, issue a legal opinion to deliver the Transfer Agent at any time after the six month anniversary of the Closing Date if required by the Transfer Agent to transfer any of the Shares, which legal opinion shall provide that a Holder may transfer any of the Shares free of restriction during the 10 trading days following the date of such shares within three (3) Trading Days)legal opinion and that the transferee thereof shall receive the Shares free from all restrictive and other legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1Agreement. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser Holder by crediting the account of the PurchaserHolder’s prime broker with the Depository Trust Company System as directed by such PurchaserHolder if the Company is then a participant in such system.

Appears in 2 contracts

Samples: Registration Rights Agreement (Warren Resources Inc), Registration Rights Agreement (Warren Resources Inc)

Legend Removal. (a) Certificates evidencing the Underlying Shares ADSs, if any, shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): legend: (i) while a registration statement with a current prospectus covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares ADSs pursuant to Rule 144144 , or (iii) if such Underlying Shares ADSs are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the CommissionSEC). The Company Buyer shall cause its counsel to issue a legal opinion to the Transfer Agent during transfer agent promptly after the time any effective date of the aforedescribed conditions apply, Resale Registration Statement if required by the transfer agent to effect the removal of the legend hereunder. Buyer shall cause its counsel to issue a legal opinion to the transfer agent or the Secured Noteholders promptly if required by the transfer agent to effect the removal of the legend hereunder, or if requested by a Secured Noteholder, respectively. Upon reasonable request by counsel to Buyer (which request shall include a form of representation letter in customary form as reasonably determined by counsel to Buyer and the applicable Secured Noteholder’s counsel) to such Secured Noteholder, such Secured Noteholder shall promptly deliver a representation letter in customary form to counsel to Buyer in connection with the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares ADSs may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the CommissionSEC) then such Underlying Shares ADSs shall be issued free of all legends. The Company Buyer agrees that following the effective date of the Resale Registration Statement and at such time as such legend is no longer required under this Section 4.1(d)Section, it Buyer will, no later than five the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by the Purchaser a Secured Noteholder to the Company Buyer or the Transfer Agent transfer agent of a certificate representing Underlying Shares, as applicable, ADSs issued with a restrictive legend (such fifth Trading Daydate, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Secured Noteholder a certificate representing such shares ADSs that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company Buyer may not make any notation on its records or give instructions to the Transfer Agent transfer agent that enlarge the restrictions on transfer set forth in this Section 4.1Section. Certificates for Underlying Shares ADSs subject to legend removal hereunder shall be transmitted by the Transfer Agent transfer agent to the Purchaser Secured Noteholder by crediting the account of the PurchaserSecured Noteholder’s prime broker with the Depository Trust Company System as directed by such Purchaser.Secured Noteholder. As used herein, “

Appears in 2 contracts

Samples: Assignment and Exchange Agreement (Adhera Therapeutics, Inc.), Assignment and Exchange Agreement (Biodexa Pharmaceuticals PLC)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b3.1(z) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time effective date of a registration statement registering the Underlying Shares and Exchange Shares, or any of part thereof, if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Exchange Notes are converted or any portion of a an Exchange Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d3.1(aa), it will, no later than five two (2) Trading Days following the delivery by the Purchaser an Investor to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd ) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Investor a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.13. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser Investor by crediting the account of the PurchaserInvestor’s prime broker with the Depository Trust Company System as directed by such PurchaserInvestor.

Appears in 2 contracts

Samples: Amendment and Exchange Agreement (ShiftPixy, Inc.), Amendment and Exchange Agreement (ShiftPixy, Inc.)

Legend Removal. Certificates evidencing If the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including Forward Purchase Securities and the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering securities issuable upon exercise of the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares Forward Purchase Warrants are eligible for sale under Rule 144to be sold without restriction under, and without the requirement for the Company to be being in compliance with the current public information required under requirements of, Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act of 1933, as amended (including judicial interpretations and pronouncements issued by the staff of the Commission“Securities Act”). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover covering the resale of the corresponding Underlying Shares, or Forward Purchase Securities and the securities issuable upon exercise of the Forward Purchase Warrants (and any Purchaser provides the Company with a written undertaking to sell its Forward Purchase Securities and the securities issuable upon exercise of the Forward Purchase Warrants only in accordance with the plan of distribution contained in such registration statement and only if such Underlying Shares may be sold under Rule 144 or if Purchaser has not been informed that the prospectus in such legend registration statement is not otherwise required under applicable requirements of current or the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend registration statement is no longer required under this Section 4.1(deffective), it willthen at any Purchaser’s request, no later than five Trading Days following the delivery Company will cause the Company’s transfer agent to remove the legend set forth in Section 1(b). In connection therewith, if required by the Purchaser to Company’s transfer agent, the Company or the Transfer Agent will promptly cause an opinion of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause counsel to be delivered to and maintained with its transfer agent, together with any other authorizations, certificates and directions required by the transfer agent that authorize and direct the transfer agent to issue such Purchaser a certificate representing Forward Purchase Securities and securities issuable upon exercise of the Forward Purchase Warrants without any such shares that is free from all restrictive and other legends (howeverlegend; provided that, notwithstanding the foregoing, the Corporation shall use reasonable best efforts Company will not be required to deliver any such shares within three (3) Trading Days). The Company may not make any notation on its records opinion, authorization, certificate or give instructions to the Transfer Agent direction if it reasonably believes that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with legend could result in or facilitate transfers of Forward Purchase Securities and securities issuable upon exercise of the Depository Trust Company System as directed by such PurchaserForward Purchase Warrants in violation of applicable law.

Appears in 2 contracts

Samples: Forward Purchase Agreement (Starboard Value Acquisition Corp.), Forward Purchase Agreement (Starboard Value Acquisition Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the sale to the Purchasers or a resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if hereunderIf such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Generex Biotechnology Corp), Securities Purchase Agreement (Generex Biotechnology Corp)

Legend Removal. Certificates evidencing the Incentive Shares and Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Incentive Shares and Underlying Shares pursuant to Rule 144, (iii) if such Incentive Shares and Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Incentive Shares and Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Incentive Shares and Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Incentive Shares and Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Incentive Shares and Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Incentive Shares and Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Reign Sapphire Corp), Securities Purchase Agreement (Reign Sapphire Corp)

Legend Removal. Certificates evidencing the Underlying Shares Securities shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares Securities pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes Shares are converted or any portion of a Warrant is exercised converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Conversion Shares, or if such Underlying the Conversion Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Conversion Shares or Bonus Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Sharesthe Conversion Shares , as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (Quad M Solutions, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to NI 45-106 and/or Rule 144144 or NI 45-102, (iii) if such and Underlying Shares are eligible for sale under NI 45-106 and/or Rule 144144 or NI 45-102, without the requirement for the Company to be in compliance with the current public information required under NI 45-106 and/or Rule 144 or NI 45-102 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissionany agency or Trading Market with regard to Applicable Law). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under NI 45-106 and/or Rule 144 or NI 45-102 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) or NI 45-102 then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five ten Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (BriaCell Therapeutics Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the sale to the Purchasers or a resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Generex Biotechnology Corp)

Legend Removal. Certificates evidencing the Underlying Shares Securities shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a any registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares Securities pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to promptly issue a legal opinion to the Transfer Agent during if required by the time any of Transfer Agent or if requested by the aforedescribed conditions apply, Holders to effect the removal of the legend hereunder. If all or any Notes are converted or any portion The Company shall allow the Transfer Agent to accept opinions from the Holder’s counsel and if the Transfer Agent accepts such opinion, the Company will be relieved of a Warrant is exercised at its obligation to prove the opinion to the Transfer Agent. At a time when there is an any effective registration statement to cover the resale of the corresponding Underlying Shares, or if such the Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by the Purchaser a Holder to the Company or the Transfer Agent of a certificate representing the Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Daydate, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Holder a certificate representing such shares Underlying Shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by As used herein, “Standard Settlement Period” means the Transfer Agent standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Purchaser by crediting Common Stock as in effect on the account date of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserdelivery of a certificate representing common stock issued without a restrictive legend.

Appears in 1 contract

Samples: Securities Exchange Agreement (Unique Logistics International Inc)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, provided that Purchaser shall have first delivered to the Company reasonable and customary documentation requested in connection with the removal of the legend. or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (2304101 Ontario Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): legend: (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent during transfer agent promptly if required by the time any of the aforedescribed conditions apply, transfer agent to effect the removal of the legend hereunder. If all or At any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d)Section, it will, no later than five Trading Days (5) trading days following the delivery by the Purchaser a Holder to the Company or the Transfer Agent transfer agent of a certificate representing Underlying Shares, as applicable, the Shares issued with a restrictive legend (such fifth Trading Day(5th) trading day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Holder a certificate representing such shares Shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares Shares within three (3) Trading Daystrading days). The Company may not make any notation on its records or give instructions to the Transfer Agent transfer agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such PurchaserCommission.

Appears in 1 contract

Samples: Debt Restructuring Agreement (Friendable, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any effective date of a registration statement if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Gratitude Health, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to promptly issue a legal opinion to the Transfer Agent during if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of the Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (FaceBank Group, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the The legend set forth in Section 4.1(b4.5 above shall be removed and the Company shall issue the applicable Shares (and any certificate therefor) hereof): without such legend or any other legend to the holder of the applicable Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at the Depository Trust Company (“DTC”), if (i) while a registration statement covering the such Shares are registered for resale of such security is effective under the Securities ActAct (provided that, if a Purchaser is selling pursuant to the applicable Registration Statement, such Purchaser agrees to only sell such Shares during such time that such Registration Statement is effective and not withdrawn or suspended, and only as permitted by such Registration Statement), (ii) following any sale of such Underlying Shares are sold or transferred pursuant to Rule 144144 (if the transferor is not an Affiliate of the Company), or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares securities and without volume or manner-of-sale restrictions or restrictions. Following the earlier of (ivi) if such legend is not required under applicable requirements the effective date of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover initial Registration Statement covering the resale of the corresponding Underlying Shares (the “Effective Date”) or (ii) Rule 144 becoming available for the resale of Shares, or if such Underlying Shares may without the requirement for the Company to be sold in compliance with the current public information required under Rule 144 as to such securities and without volume or if manner-of-sale restrictions, the Company shall deliver to the Company’s transfer agent irrevocable instructions that the transfer agent shall reissue any certificate representing the applicable Shares without legend upon receipt by the transfer agent of the legended certificates for such Shares. Any fees (with respect to the transfer agent or otherwise) associated with the removal of such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued shall be borne by the staff of Company. Following the Commission) then Effective Date, or at such Underlying Shares shall be issued free of all legends. The Company agrees that following such earlier time as such a legend is no longer required under this Section 4.1(dfor certain Shares (in which case a Purchase shall also be required to provide reasonable assurances (in the form of seller and, if applicable, broker representation letters), it will, the Company will no later than five Trading Days three trading days following the delivery by the a Purchaser to the Company or the Transfer Agent transfer agent (with notice to the Company) of a legended certificate representing Underlying SharesShares (endorsed or with stock powers attached, as applicablesignatures guaranteed, issued with a restrictive legend (such fifth Trading Day, and otherwise in form necessary to affect the “Legend Removal Date”reissuance and/or transfer), deliver or cause to be delivered to the transferee of such Purchaser or such Purchaser, as applicable, a certificate representing such shares Shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates Any certificates for Underlying Shares subject to legend removal hereunder shall may be transmitted by the Transfer Agent transfer agent to the a Purchaser by crediting the account of the such Purchaser’s prime broker with the Depository Trust Company System DTC as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Vbi Vaccines Inc.)

Legend Removal. Certificates evidencing The legends set forth above shall be removed and the Underlying Shares Company shall not contain issue a physical certificate without such legends to the holder of any legend Security upon which it is stamped or issue by electronic delivery at the applicable balance account at the Depository Trust Company (“Unlegended SharesDTC) (including the legend set forth in Section 4.1(b) hereof): ), if: (i) while a registration statement covering the Security is registered for resale of such security is effective under the Securities ActAct (including registration pursuant to Rule 415 thereunder and provided that, if the Purchaser is selling pursuant to the effective registration statement registering the Shares for resale, the Purchaser agrees to only sell such Shares during such time that such registration statement is effective and such Purchaser is not aware or has not been notified by the Company that such registration statement has been withdrawn or suspended, and only as permitted by such registration statement); (ii) following any sale such holder provides the Company with an opinion of counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the effect that such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale without the requirement for the Company to be in compliance with the current public information required under Rule 144144 as to such securities and without volume or manner-of-sale restrictions and that a public sale or transfer of such Security may be made without registration under the Securities Act; or (iii) such holder is not an affiliate of the Company and provides the Company with reasonable assurances that such Security can be sold without limitation or restriction under Rule 144 or has been, or is to be otherwise, sold in compliance with Rule 144 without volume or manner of sale restrictions and provides the Company with an opinion to that effect from legal counsel reasonably acceptable to the Company. Following the earlier of (i) the Effective Date of the Registration Statement (as set forth in the Registration Rights Agreement) or (ii) Rule 144 becoming available for the resale of Securities, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares the Securities and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of restrictions, the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any legal opinion referred to in the Irrevocable Transfer Agent Instructions. Any fees (with respect to the Transfer Agent, Company Counsel or otherwise) associated with the issuance of the aforedescribed conditions apply, to effect such opinion or the removal of such legend shall be borne by the legend hereunderCompany. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover Following the resale of the corresponding Underlying SharesEffective Date, or if at such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such earlier time as such a restrictive legend is no longer required under this Section 4.1(d)for certain Securities, it will, the Company will no later than five three (3) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent (with notice to the Company) of a legended certificate representing Underlying Sharessuch Securities (endorsed or with stock powers attached, as applicablesignatures guaranteed, issued with a restrictive legend and otherwise in form necessary to affect the reissuance and/or transfer) and an opinion of counsel to the extent required by Article 5, (such fifth third Trading Day, the “Legend Removal Date”), ) deliver or cause to be delivered to such Purchaser a certificate representing such shares Securities that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such PurchaserArticle 5.

Appears in 1 contract

Samples: Securities Purchase Agreement (Vitran Corp Inc)

Legend Removal. Certificates evidencing the Underlying Shares shares of Common Stock issued under any provision of this Agreement shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security securities is effective under the Securities Act of 1933 (the “Securities Act”), (ii) following any sale of such Underlying Shares securities pursuant to Rule 144 under the Securities Act of 1933 (“Rule 144”), (iii) if such Underlying Shares securities are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares securities and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Securities and Exchange Commission (the “Commission”)). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during Company’s transfer agent and Purchaser promptly after the time any effective date of a registration statement which includes the aforedescribed conditions apply, securities of Purchaser if required by the Company’s transfer agent to effect the removal of the legend hereunder. If all or any Notes Dilution Shares are converted or any portion of a Warrant is exercised issued at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Sharessuch securities, or if such Underlying Shares securities may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Dilution Shares shall be issued free of all legends. The In the event Purchaser submits a request in writing to the Company agrees that following it wishes to sell its Shares or Dilution Shares, and if at such time as such a legend is no longer required under this Section 4.1(d)4.1, it the Company will, no later than five Trading Days business days following the delivery by the Purchaser to the Company or the Transfer Agent its transfer agent of a certificate representing Underlying such Shares or Dilution Shares, as applicable, issued with a restrictive legend (such fifth Trading Daybusiness day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three (3) Trading Daysbusiness days). If required by the Company’s transfer agent, the Company shall promptly cause its counsel to provide a legal opinion in connection with any legend removal or issuance of shares free from legend hereunder. Without limiting the Company’s obligation to provide any such legal opinion or its liability for failing to timely do so, and without imposing any obligation on the Purchaser, if the Company fails to promptly provide any such required legal opinion, the Company authorizes and shall authorize its transfer agent to accept such legal opinion from Exxxxxxxx & Kxxxxx LLP or such other counsel as shall be selected by the Purchaser in its sole and absolute discretion, the cost of which legal opinion shall be borne by the Seller. The Company may not make any notation on its records or give instructions to the Transfer Agent its transfer agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (YayYo, Inc.)

Legend Removal. Certificates evidencing Notwithstanding anything contained herein to the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including contrary, upon the legend set forth in Section 4.1(b) hereof): earlier of (i) while the effectiveness of the Registration Statement for either ADMT or AAN and receipt by ADMT or AAN, as the case may be, of a registration statement covering holder's written confirmation that ADMT common stock or AAN common stock, as the resale case may be, will not be disposed of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be except in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable prospectus delivery requirements of the Securities Act or (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold ii) Rule 144(k) under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations becoming available to a holder, ADMT or AAN, as the case may be, shall, upon such holder's written request and pronouncements issued delivery of all required documentation by the staff of Company's securities counsel, promptly cause certificates evidencing the Commission) then ADMT common stock or the AAN common stock, as the case may be, to be replaced with certificates that do not bear such Underlying Shares shall be issued free of all restrictive legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company When ADMT or the Transfer Agent of a certificate representing Underlying SharesAAN, as applicablethe case may be, is required to cause unlegended certificates to replace previously issued with a restrictive legend (such fifth Trading Daylegended certificates, the “Legend Removal Date”), deliver or cause to be if unlegended certificates are not delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares holder within three (3) Trading Days)business days following submission by such holder of legended certificate(s) to ADMT or AAN's transfer agent, as applicable, together with a representation letter in customary form, ADMT or AAN, as the case may be, shall be liable to such holder for liquidated damages in an amount equal to 1% of the aggregate purchase price of the ADMT common stock or AAN common stock, as the case may be, evidenced by such certificate(s) for each thirty (30) day period) beyond such three (3) business day period that the unlegended certificates have not been so delivered. The Company may ADMT or AAN's obligation to issue unlegended certificates pursuant to this paragraph shall be excused if (i) the SEC promulgates any rule or interpretation expressly prohibiting removal of legends in such circumstances; (ii) the SEC or other regulatory authority instructs ADMT or AAN, as applicable, or their respective transfer agent not make any notation on its records to remove such legends, or give instructions (iii) the SEC makes it a condition to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account effectiveness of the Purchaser’s prime broker with the Depository Trust Company System Registration Statement so that ADMT or AAN, as directed by applicable, continues to keep such Purchaserlegends in place.

Appears in 1 contract

Samples: Agreement (Adm Tronics Unlimited Inc/De)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the sale to the Purchasers or a resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Aethlon Medical Inc)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any effective date of a registration statement if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Friendable, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares Registrable Securities shall not contain any legend (“Unlegended Shares”) (including the legend legends set forth in Section 4.1(b9(b) hereof): (i) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iviii) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of any agency or Trading Market (as defined in the CommissionCertificate of Designations) with regard to applicable law). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes the Shares are converted or any portion of a Warrant is the AIRs are exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying SharesRegistrable Securities, or if such Underlying Shares Registrable Securities may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares Registrable Securities shall be issued free of all United States legends. The Company agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d9(d), it will, no later than five (5) Trading Days following the delivery by the such Purchaser to the Company or the Transfer Agent of a certificate representing Underlying SharesRegistrable Securities, as applicable, issued with a restrictive legend (such fifth (5th) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.19. Certificates for Underlying Shares Registrable Securities subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the such Purchaser by crediting the account of the such Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Registration Rights Agreement (Super League Gaming, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to promptly issue a legal opinion to the Transfer Agent during if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of the Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with DTC through its DWAC system, provided that the Depository Trust Company System as directed by such PurchaserCompany’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (Interactive Strength, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend legends set forth in Section 4.1(b) hereof): (i) stipulated in NI 45-102 as of the date which falls four months and one day from the date of issuance of the Convertible Debenture; (ii) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissionany agency or Trading Market with regard to Applicable Law). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are the Convertible Debenture is converted or any portion of a Warrant is the Warrants are exercised (i) on or after such day which falls four months and one day from the date of issuance of the Convertible Debenture, then such Underlying Shares shall be issued free of all Canadian legends; or (ii) at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all United States legends. The Company agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d), it will, no later than five (5) Trading Days following the delivery by the such Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the such Purchaser by crediting the account of the such Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Western Magnesium Corp.)

Legend Removal. Certificates evidencing To the Underlying extent the resale of any issued Shares shall not contain any legend or Warrant Shares is registered under the Securities Act pursuant to an effective Registration Statement, the Company agrees to promptly (“Unlegended Shares”i) (including authorize the removal of the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of 3.6 and any other legend not required by applicable law from such security is effective under the Securities ActShares or Warrant Shares, (ii) following cause the Transfer Agent to issue such Shares or Warrant Shares without such legends to the holders thereof by electronic delivery at the applicable balance account at the Depository Trust Company upon surrender of any sale of share certificates evidencing such Underlying Shares pursuant to Rule 144, or Warrant Shares and (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall Transfer Agent, cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of any restrictive legends and provide all other opinions as may be reasonably required by the transfer agent in connection with the removal of legends (all such opinions “TA Legal Opinions”). The Company’s obligation to remove legends under this Section 4.10 may be conditioned upon the Purchaser providing a certification in the form of Exhibit B. The Purchaser may request that the Company remove, and the Company agrees to authorize, including through the issuance of TA Legal Opinions by the Company’s counsel, the removal of any legend hereunder. If all from any Shares or Warrant Shares issued to such Purchaser (i) within two Trading Days following any Notes are converted sale, or any portion of certification by a Warrant is exercised at a time when there is an effective registration statement to cover the resale Purchaser of the corresponding Underlying Sharesexpected sale, of such Shares or Warrant Shares pursuant to Rule 144, (ii) if such Underlying Shares may be sold or Warrant Shares are eligible for sale under Rule 144 or if such legend following the expiration of the holding requirement under subparagraphs (b)(1)(i) and (d) thereof and the Purchaser is not otherwise required under applicable requirements an affiliate of the Securities Act Company, in each case following receipt from the Purchaser of an appropriate certification to such effect or (including judicial interpretations iii) following the time that the Registration Statement is declared effective and pronouncements issued by while it remains effective. Following the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such a legend is no longer required for the Shares or Warrant Shares under this Section 4.1(d)4.10, it the Company will, no later than five two Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a legended certificate representing Underlying Sharessuch securities (if any) (or a request for legend removal, as applicable, in the case of the Shares or Warrant Shares issued with a restrictive legend in book-entry form) and appropriate certifications that the applicable requirements have been satisfied (such fifth Trading Day, the “Legend Removal Securities Delivery Date”), deliver or cause to be delivered to such Purchaser a certificate evidence of book entry positions representing such shares securities that is free from all restrictive and other legends or, in the case of Shares or Warrant Shares, if requested by Purchaser, by crediting such Shares or Warrant Shares to the account of the Purchaser or its prime broker or other designee with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (however“DWAC”) if the Company is then a participant in such system (“DWAC Delivery”); if the Company fails for any reason to deliver Shares or Warrant Shares via DWAC Delivery (if the Company is then a participant in DWAC) to a Purchaser as required by this Section 4.10 (other than a failure caused by incorrect or incomplete information provided by Purchaser to the Company), and if after such Securities Delivery Date such Purchaser is required to or otherwise purchases (in an open market transaction or otherwise), shares of Common Stock to deliver in satisfaction of a sale by such Purchaser of the Shares or Warrant Shares which such Purchaser was entitled to receive relating to such Securities Delivery Date (a “Buy-In”), then the Company shall pay in cash to such Purchaser (in addition to any other remedies available to or elected by such Purchaser) the amount by which (x) such Purchaser’s total purchase price (including any brokerage commissions) for the shares of Common Stock so purchased exceeds (y) the product of (1) the lesser of the (a) the number of shares of Common Stock so purchased and (b) the aggregate number of Shares or Warrant Shares that such Purchaser was entitled to receive for the Securities Delivery Date multiplied by (2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage commissions). For example, if a Purchaser purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to Shares or Warrant Shares that were not delivered via DWAC Delivery by the Securities Delivery Date with respect to which the actual sale price (including any brokerage commissions) giving rise to such purchase obligation was a total of $10,000, the Corporation Company shall use reasonable best efforts be required to deliver pay such shares Purchaser $1,000. The Purchaser shall provide the Company written notice, within three (3) Trading Days)Business Days after the occurrence of a Buy-In, indicating the amounts payable to such Purchaser in respect of such Buy-In together with applicable confirmations and other evidence reasonably requested by the Company. The Company may not make Nothing herein shall limit a Purchaser’s right to pursue any notation on its records other remedies available to it hereunder, at law or give instructions in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Transfer Agent that enlarge Company’s failure to timely deliver the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent or Warrant Shares via DWAC Delivery as required pursuant to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserterms hereof.

Appears in 1 contract

Samples: Securities Purchase Agreement (Taysha Gene Therapies, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares Registrable Securities shall not contain any legend (“Unlegended Shares”) (including the legend legends set forth in Section 4.1(b9(b) hereof): (i) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iviii) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of any agency or Trading Market (as defined in the CommissionCertificate of Designations) with regard to applicable law). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes the Shares are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying SharesRegistrable Securities, or if such Underlying Shares Registrable Securities may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares Registrable Securities shall be issued free of all United States legends. The Company agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d9(d), it will, no later than five (5) Trading Days following the delivery by the such Purchaser to the Company or the Transfer Agent of a certificate representing Underlying SharesRegistrable Securities, as applicable, issued with a restrictive legend (such fifth (5th) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.19. Certificates for Underlying Shares Registrable Securities subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the such Purchaser by crediting the account of the such Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Registration Rights Agreement (Super League Enterprise, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Reign Sapphire Corp)

Legend Removal. Certificates evidencing the shares of common stock issued upon conversion of Notes (“Underlying Shares Shares”) shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company Borrower to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iviii) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissionany agency or trading market with regard to applicable law). The Company Borrower shall cause its counsel to issue a legal opinion to V Stock (together with any successor transfer agent the “Transfer Agent”) promptly after the Effective Date if required by the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are Series E Preferred Stock is converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all United States legends. The Company Borrower agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d4.7(c), it will, no later than five two (2) Trading Days (which shall mean any day the Company’s principal trading market is open) following the delivery by the Purchaser such Lender to the Company Borrower or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Lender a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Borrower shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company Borrower may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14.7. Certificates for Underlying Shares subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the Purchaser such Lender by crediting the account of the Purchasersuch Xxxxxx’s prime broker with the Depository Trust Company Borrower System as directed by such PurchaserXxxxxx.

Appears in 1 contract

Samples: Line of Credit Agreement (Star Alliance International Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five fifteen Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth fifteenth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates To the extent that the Company is able to do so, certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Echo Therapeutics, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a any registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of the aforedescribed conditions apply, Effective Date or other counsel reasonably acceptable to Purchaser to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Conversion Labs, Inc.)

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Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such the Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Uppercut Brands, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not be required to contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a any registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), with respect to which the Underlying Shares are being sold, deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading DaysDays after delivery by Purchaser of such legended share certificate). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Alternus Energy Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the The legend set forth in Section 4.1(babove shall be removed and the Company shall issue a certificate without such legend to the holder of the Securities upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at The Depository Trust Company (“DTC”) hereof): or the Transfer Agent, as applicable and at the Buyer’s election so long as the Buyer is not an affiliate of the Company, if, unless otherwise required by state securities laws, (i) while a registration statement covering the such Securities are registered for resale of such security is effective under the Securities 1933 Act, (ii) following any sale of in connection with a sale, assignment or other transfer, such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for holder provides the Company with an opinion of a law firm reasonably acceptable to the Company, in a form reasonably acceptable to the Company, to the effect that such sale, assignment or transfer of the Securities may be in compliance with made without registration under the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the 1933 Act, or (iii) such holder provides the Company with reasonable assurance that the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A. The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Legend Removal Date if required by the aforedescribed conditions apply, Transfer Agent or requested by a Buyer to effect the removal of the legend hereunderhereunder pursuant to the immediately preceding sentence. If all or any Notes are converted or any portion of a Warrant When the Company is exercised at a time when there is an effective registration statement required to cover the resale issue unlegended Securities to replace previously issued legended Securities, if: (1) delivery of the corresponding Underlying Shares, unlegended certificate or if such Underlying Shares may be sold under Rule 144 or if such legend electronic delivery of the applicable Securities is not otherwise required under applicable requirements made to a Buyer within the earlier of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissioni) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five three (3) Trading Days (as defined below) and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by the Purchaser a Buyer to the Company or the Transfer Agent of a certificate representing Underlying Sharesthe legended Securities and customary supporting documentation reasonably acceptable to the Company, its counsel and the Transfer Agent as applicable, issued with a restrictive legend provided above (such fifth Trading Day, the “Legend Removal Date”) and (2) prior to the time such unlegended Securities are received by the Buyer, the Buyer, or any third party on behalf of such Buyer or for the Buyer’s account, purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by a Buyer of shares represented by such certificate (a “Buy-In”), deliver then the Company shall promptly pay in cash to the Buyer, but in no event later than three Business Days after receipt of a Buy-In Notice by the applicable Buyer (for costs incurred either directly by such Buyer or cause on behalf of a third party, including, without limitation, brokerage commissions) the amount by which the total purchase price paid for Common Stock as a result of the Buy-In (including brokerage commissions, if any) exceeds the proceeds received by such Buyer as a result of the sale to be delivered which such Buy-In relates. The Buyer shall provide the Company written notice (the “Buy-In Notice”) indicating the amounts payable to the Buyer in respect of the Buy-In. Additionally, at the option of a Buyer, the Company shall pay to such Purchaser Buyer, in cash, as partial liquidated damages and not as a certificate representing such shares that is free from all restrictive and other legends (howeverpenalty, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.each

Appears in 1 contract

Samples: Securities Purchase Agreement

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Emerald Medical Applications Corp.)

Legend Removal. Certificates evidencing the Underlying Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) 2.9 hereof): ), (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares or Warrant Shares pursuant to Rule 144144 (assuming cashless exercise of the Warrants), or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the CommissionSEC). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during Company’s transfer agent or the time any of Subscriber if required by the aforedescribed conditions apply, Company’s transfer agent to effect the removal of the legend hereunder, or if requested by a Subscriber. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Warrant Shares, or if such Underlying Warrant Shares may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144 (assuming cashless exercise of the Warrants), or if the Warrant Shares may be sold under Rule 144 without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Warrant Shares or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the CommissionSEC) then such Underlying Warrant Shares shall be issued free of all legends. The Company agrees that following that, at such time as such legend is no longer required under this Section 4.1(d)3.6, it will, no later than five Trading Days the earlier of three (3) business days following the delivery by the Purchaser a Subscriber to the Company or the Transfer Agent Company’s transfer agent of a certificate representing Underlying Shares or Warrant Shares, as applicablethe case may be, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”)legend, deliver or cause to be delivered to such Purchaser Subscriber a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserlegends.

Appears in 1 contract

Samples: Subscription Agreement (Tapinator, Inc.)

Legend Removal. Certificates evidencing the Underlying issued for Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): ) except for the legend set forth in Section 2.4(c), if applicable: (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares or Warrant Shares, or if such Underlying Shares or Warrant Shares, as applicable, may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares or Warrant Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it willupon written request of a Purchaser, no later than five (5) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), use its reasonable best efforts to deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14 without reasonable basis communicated to Purchaser in writing no later than five (5) Trading days from such instruction. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, on or after the Liquidity Date (as defined below) so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (FMC GlobalSat Holdings, Inc.)

Legend Removal. Certificates evidencing the Underlying Conversion Shares (including Conversion Shares underlying the Shares being issued in connection with the exchange described in Section 2.1(b)) and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Conversion Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised exercised, or Shares are converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Warrant Shares or Conversion Shares, as applicable, or if such Underlying Warrant Shares or Conversion Shares, as applicable, may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Warrant Shares or Conversion Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Conversion Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (Accelerated Pharma, Inc.)

Legend Removal. Certificates evidencing In connection with any sale or disposition of the Underlying Shares Securities by a Purchaser pursuant to Rule 144 or pursuant to any other exemption under the Securities Act such that the purchaser acquires freely tradable shares and upon compliance by the Purchaser with the requirements of this Agreement, the Company shall not contain any legend or, in the case of Common Stock, shall cause the transfer agent for the Common Stock (the Unlegended SharesTransfer Agent”) (including to issue replacement certificates representing the legend set forth in Section 4.1(b) hereof): Securities sold or disposed of without restrictive legends. Upon the earlier of (i) while registration for resale pursuant to the Registration Rights Agreement, or (ii) the Shares becoming freely tradable by a registration non-affiliate pursuant to Rule 144 or 144A, the Company shall (A) deliver to the Transfer Agent irrevocable instructions that the Transfer Agent shall reissue a certificate representing shares of Common Stock without legends upon receipt by such Transfer Agent of the legended certificates for such shares, together with either (1) a customary representation by the Purchaser that Rule 144 applies to the shares of Common Stock represented thereby or (2) a statement covering by the resale Purchaser that such Purchaser has sold the shares of Common Stock represented thereby in accordance with the Plan of Distribution contained in the Registration Statement, and (B) cause its counsel to deliver to the Transfer Agent one or more blanket opinions to the effect that the removal of such security is effective legends in such circumstances may be effected under the Securities Act. From and after the earlier of such dates, upon a Purchaser’s written request, the Company shall promptly cause certificates evidencing the Purchaser’s Securities to be replaced with certificates which do not bear such restrictive legends, and Warrant Shares subsequently issued upon due exercise of the Warrants shall not bear such restrictive legends provided the provisions of either clause (i) or clause (ii) following any sale of such Underlying Shares pursuant to Rule 144above, (iii) if such Underlying Shares as applicable, are eligible for sale under Rule 144, without the requirement for the Company to be in compliance satisfied with the current public information required under Rule 144 as respect to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such Warrant Shares. If a legend is not required under applicable requirements of pursuant to the Securities Act (including judicial interpretations and pronouncements issued by foregoing, the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent transfer agent (with notice to the Company) of a legended certificate representing Underlying such Securities (endorsed or with stock powers attached, signatures guaranteed, and otherwise in form necessary to affect the reissuance and/or transfer, if applicable), together with any other deliveries from such Purchaser as may be required above in this Section 5(c), as directed by such Purchaser, either: (A) provided that the Company’s transfer agent is participating in the DTC Fast Automated Securities Transfer Program and such Securities are Shares or Warrant Shares, as applicable, issued with a restrictive legend (credit the aggregate number of shares of Common Stock to which such fifth Trading Day, the “Legend Removal Date”), deliver or cause to Purchaser shall be delivered entitled to such Purchaser Purchaser’s or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system or (B) if the Company’s transfer agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver (via reputable overnight courier) to such Purchaser, a certificate representing such shares Securities that is free from all restrictive and other legends, registered in the name of such Purchaser or its designee (the date by which such credit is so required to be made to the balance account of such Purchaser’s or such Purchaser’s nominee with DTC or such certificate is required to be delivered to such Purchaser pursuant to the foregoing is referred to herein as the “Required Delivery Date”). The Company shall be responsible for any transfer agent fees or DTC fees with respect to any issuance of Securities or the removal of any legends with respect to any Securities in accordance herewith. When the Company is required to cause an unlegended certificate to replace a previously issued legended certificate, if: (however1) the unlegended certificate is not delivered to a Purchaser within three (3) Business Days of submission by that Purchaser of a legended certificate and supporting documentation to the Transfer Agent as provided above and (2) prior to the time such unlegended certificate is received by the Purchaser, the Corporation shall use reasonable best efforts Purchaser, or any third party on behalf of such Purchaser or for the Purchaser’s account, purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Purchaser of shares represented by such shares certificate (a “Buy-In”), then the Company shall, within three (3) Trading DaysDays after such Purchaser’s request and in such Purchaser’s sole discretion, either (i) pay cash to such Purchaser in an amount equal to such Purchaser’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased (the “Buy-In Price”), at which point the Company’s obligation to deliver such certificate or credit such Purchaser’s balance account shall terminate and such shares shall be cancelled, or (ii) promptly honor its obligation to deliver to such Purchaser a certificate or certificates or credit such Purchaser’s DTC account representing such number of shares of Common Stock that would have been issued if the Company timely complied with its obligations hereunder and pay cash to such Purchaser in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Shares or Warrant Shares (as the case may be) that the Company was required to deliver to such Purchaser by the Required Delivery Date times (B) the Closing Sale Price (as defined in the Warrants) of the Common Stock on the Trading Day immediately preceding the Required Delivery Date. The Purchaser shall provide the Company may not make any notation on its records or give instructions to written notice indicating the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent amounts payable to the Purchaser by crediting the account in respect of the Purchaser’s prime broker with the Depository Trust Company System as directed by such PurchaserBuy-In.

Appears in 1 contract

Samples: Securities Purchase Agreement (Broadcast International Inc)

Legend Removal. Certificates evidencing the Underlying Shares shares of Common Stock issued under any provision of this Agreement shall not contain any legend ("Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof"): (i) while a registration statement covering the resale of such security securities is effective under the Securities Act of 1933 (the "Securities Act"), (ii) following any sale of such Underlying Shares securities pursuant to Rule 144 under the Securities Act of 1933 ("Rule 144"), (iii) if such Underlying Shares securities are eligible for sale under Rule 144, . without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares securities and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Securities and Exchange Commission (the "Commission")). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during Company's transfer agent and Purchaser promptly after the time any effective date of a registration statement which includes the aforedescribed conditions apply, securities of Purchaser if required by the Company's transfer agent to effect the removal of the legend hereunder. If all or any Notes Dilution Shares are converted or any portion of a Warrant is exercised issued at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Sharessuch securities, or if such Underlying Shares securities may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Dilution Shares shall be issued free of all legends. The In the event Purchaser submits a request in writing to the Company agrees that following it wishes to sell its Shares or Dilution Shares, and if at such time as such a legend is no longer required under this Section 4.1(d), it 4.1. the Company will, no later than five Trading Days business days following the delivery by the Purchaser to the Company or the Transfer Agent its transfer agent of a certificate representing Underlying such Shares or Dilution Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, business day. the "Legend Removal Date"), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Company shall use reasonable best efforts to deliver such shares within three (3) Trading Daysbusiness days). If required by the Company's transfer agent, the Company shall promptly cause its counsel to provide a legal opinion in connection with any legend removal or issuance of shares free from legend hereunder. Without limiting the Company's obligation to provide any such legal opinion or its liability for failing to timely do so. and without imposing any obligation on the Purchaser, if the Company fails to promptly provide any such required legal opinion, the Company authorizes and shall authorize its transfer agent to accept such legal opinion from Exxxxxxxx & Kxxxxx LLP or such other counsel as shall be selected by the Purchaser in its sole and absolute discretion, the cost of which legal opinion shall be borne by the Seller. The Company may not make any notation on its records or give instructions to the Transfer Agent its transfer agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Common Stock Purchase Agreement (YayYo, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144144 (assuming with respect to Warrant Shares, cashless exercise of the Warrants), (iii) if such Underlying Shares are eligible for sale under Rule 144144 without information requirements (assuming with respect to Warrant Shares, without cashless exercise of the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions Warrants or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent during or the time any of Purchaser promptly after the aforedescribed conditions applyEffective Date, on each date a registration statement is declared effective by the Commission, if required by the Transfer Agent to effect the removal of the legend hereunder, or if requested by a Purchaser, respectively. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144, or if the Underlying Shares may be sold under Rule 144 (assuming with respect to Warrant Shares, cashless exercise of the Warrants) without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Daydate, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend.

Appears in 1 contract

Samples: Securities Purchase Agreement (Mechanical Technology Inc)

Legend Removal. Certificates evidencing To the Underlying extent the resale of any issued Shares shall not contain any legend or Warrant Shares is registered under the Securities Act pursuant to an effective Registration Statement, the Company agrees to promptly (“Unlegended Shares”i) (including authorize the removal of the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of 3.6 and any other legend not required by applicable law from such security is effective under the Securities ActShares or Warrant Shares, (ii) following cause the Transfer Agent to issue such Shares or Warrant Shares without such legends to the holders thereof by electronic delivery at the applicable balance account at the Depository Trust Company upon surrender of any sale of share certificates evidencing such Underlying Shares pursuant to Rule 144, or Warrant Shares and (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall Transfer Agent, cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of any restrictive legends and provide all other opinions as may be reasonably required by the transfer agent in connection with the removal of legends (all such opinions “TA Legal Opinions”). The Company’s obligation to remove legends under this Section 4.10 may be conditioned upon the Purchaser providing a customary representation letter. The Purchaser may request that the Company remove, and the Company agrees to authorize, including through the issuance of TA Legal Opinions by the Company’s counsel, the removal of any legend hereunder. If all from any Shares or Warrant Shares issued to such Purchaser (i) within two Trading Days following any Notes are converted sale, or any portion of certification by a Warrant is exercised at a time when there is an effective registration statement to cover the resale Purchaser of the corresponding Underlying Sharesexpected sale, of such Shares or Warrant Shares pursuant to Rule 144, (ii) if such Underlying Shares may be sold or Warrant Shares are eligible for sale under Rule 144 or if such legend following the expiration of the holding requirement under subparagraphs (b)(1)(i) and (d) thereof and the Purchaser is not otherwise required under applicable requirements an affiliate of the Securities Act Company, in each case following receipt from the Purchaser of an appropriate certification to such effect or (including judicial interpretations iii) following the time that the Registration Statement is declared effective and pronouncements issued by while it remains effective. Following the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such a legend is no longer required for the Shares or Warrant Shares under this Section 4.1(d)4.10, it the Company will, no later than five two Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a legended certificate representing Underlying Sharessuch securities (if any) (or a request for legend removal, as applicable, in the case of the Shares or Warrant Shares issued with a restrictive legend in book-entry form) and appropriate certifications that the applicable requirements have been satisfied (such fifth Trading Day, the “Legend Removal Securities Delivery Date”), deliver or cause to be delivered to such Purchaser a certificate evidence of book entry positions representing such shares securities that is free from all restrictive and other legends or, in the case of Shares or Warrant Shares, if requested by Purchaser, by crediting such Shares or Warrant Shares to the account of the Purchaser or its prime broker or other designee with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (however“DWAC”) if the Company is then a participant in such system (“DWAC Delivery”); if the Company fails for any reason to deliver Shares or Warrant Shares via DWAC Delivery (if the Company is then a participant in DWAC) to a Purchaser as required by this Section 4.10 (other than a failure caused by incorrect or incomplete information provided by Purchaser to the Company), and if after such Securities Delivery Date such Purchaser is required to or otherwise purchases (in an open market transaction or otherwise), shares of Common Stock to deliver in satisfaction of a sale by such Purchaser of the Shares or Warrant Shares which such Purchaser was entitled to receive relating to such Securities Delivery Date (a “Buy-In”), then the Company shall pay in cash to such Purchaser (in addition to any other remedies available to or elected by such Purchaser) the amount by which (x) such Purchaser’s total purchase price (including any brokerage commissions) for the shares of Common Stock so purchased exceeds (y) the product of (1) the lesser of the (a) the number of shares of Common Stock so purchased and (b) the aggregate number of Shares or Warrant Shares that such Purchaser was entitled to receive for the Securities Delivery Date multiplied by (2) the actual sale price at which the sell order giving rise to such purchase obligation was executed (including any brokerage commissions). For example, if a Purchaser purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to Shares or Warrant Shares that were not delivered via DWAC Delivery by the Securities Delivery Date with respect to which the actual sale price (including any brokerage commissions) giving rise to such purchase obligation was a total of $10,000, the Corporation Company shall use reasonable best efforts be required to deliver pay such shares Purchaser $1,000. The Purchaser shall provide the Company written notice, within three (3) Trading Days)Business Days after the occurrence of a Buy-In, indicating the amounts payable to such Purchaser in respect of such Buy-In together with applicable confirmations and other evidence reasonably requested by the Company. The Company may not make Nothing herein shall limit a Purchaser’s right to pursue any notation on its records other remedies available to it hereunder, at law or give instructions in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Transfer Agent that enlarge Company’s failure to timely deliver the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent or Warrant Shares via DWAC Delivery as required pursuant to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserterms hereof.

Appears in 1 contract

Samples: Securities Purchase Agreement (Inhibrx, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares Securities shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares Securities pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company counsel shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect affect the removal of the legend hereunder. The Company shall allow the Transfer Agent to accept opinions from the Subscriber’s counsel and if the Transfer Agent accept such opinion, the Company will be relieved of its obligation to prove the opinion to the Transfer Agent. If all or any Notes Exchange Shares are converted or any portion of a Warrant is exercised sought to be sold, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such the Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five three Trading Days following the delivery by the Purchaser Subscriber to the Company or the Transfer Agent of a certificate representing the Underlying Shares, as applicable, issued with a restrictive legend (such fifth third Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Subscriber a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1Section. Certificates In lieu of delivering physical certificates representing the unlegended shares, upon request of Subscriber, so long as the certificates therefor do not bear a legend and the Subscriber is not obligated to return such certificate for Underlying Shares subject the placement of a legend thereon, the Company shall cause its transfer agent to legend removal hereunder shall be transmitted by electronically transmit the Transfer Agent to the Purchaser unlegended shares by crediting the account of the PurchaserSubscriber’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Exchange Agreement (Resonate Blends, Inc.)

Legend Removal. Certificates evidencing the shares of common stock issued upon conversion of Series E Preferred Stock, including Series E Preferred Stock issued upon exercise of the Warrant (“Underlying Shares Shares”) shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) required under the Securities Act while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company Borrower to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions restrictions, or (iviii) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commissionany agency or trading market with regard to applicable law). The Company Borrower shall cause its counsel to issue a legal opinion to V Stock (together with any successor transfer agent the “Transfer Agent”) promptly after the Effective Date if required by the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are Series E Preferred Stock is converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all United States legends. The Company Borrower agrees that following such time as all such legend is legends are no longer required under this Section 4.1(d4.7(c), it will, no later than five two (2) Trading Days (which shall mean any day the Company’s principal trading market is open) following the delivery by the Purchaser such Lender to the Company Borrower or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Lender a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation Borrower shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company Borrower may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14.7. Certificates for Underlying Shares subject to legend removal hereunder shall shall, if possible, be transmitted by the Transfer Agent to the Purchaser such Lender by crediting the account of the Purchasersuch Xxxxxx’s prime broker with the Depository Trust Company Borrower System as directed by such PurchaserXxxxxx.

Appears in 1 contract

Samples: Line of Credit Agreement (Crown Electrokinetics Corp.)

Legend Removal. Certificates evidencing If the Underlying Purchaser has resold Shares shall not contain any legend (in a manner described under the caption Unlegended Shares”) (including Plan of Distribution” in a then-effective and available Registration Statement or pursuant to Rule 144 of the legend set forth in Section 4.1(b) hereof): (i) while a Securities Act or other available exemption from registration statement covering the resale of such security is effective under the Securities Act, the Purchaser shall concurrently (a) send a confirmation to the Company’s transfer agent setting forth the number of such Shares that have been so resold and the date of such resales (such confirmation, the “Transfer Agent Confirmation”) and (b) deliver to the Company, the transfer agent and legal counsel to the Company a customary seller’s representation letter and broker’s representation letter confirming the resale of such Shares in the manner described above, together with any other documentation reasonably required by the transfer agent and/or the Depository Trust Company and, if applicable and requested by the Company, a legal opinion of the investor’s counsel that the sale of such shares did not require registration under the Securities Act, in a form and substance reasonably satisfactory to the Company (the “Resale Deliverables”). The Company and the Purchaser hereby acknowledge that, if and when the Purchaser has (i) resold Shares in a manner described under the caption “Plan of Distribution” in the Registration Statement or pursuant to Rule 144 or other available exemption from registration under the Securities Act and (ii) following any sale delivered the Resale Deliverables, the Company shall instruct the transfer agent to cause such shares to be credited to accounts designated by the Purchaser for the persons who purchased such Shares from the Purchaser. Upon the written request by the Purchaser to the Company if, at the time of such Underlying Shares pursuant to Rule 144request, the Purchaser (i) is not, and has not been during the preceding three months, an affiliate of the Company, (iiiii) if has held the portion of the Shares subject to such Underlying Shares are eligible request for sale under Rule 144, without the requirement for the Company to be at least one year as determined in compliance accordance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act and (including judicial interpretations and pronouncements issued by the staff iii) all of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any other requirements of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of are satisfied, the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it willshall, no later than five Trading two (2) Business Days following the delivery by the Purchaser to the Company Company’s transfer agent of one or more legended certificates or book-entry statements representing such Shares issued to the Purchaser together with such other documentation from the Purchaser and its designated broker as the transfer agent or the Transfer Agent of a certificate representing Underlying SharesCompany deems necessary and appropriate, as applicable, issued with a authorize the transfer agent to remove the Securities Act restrictive legend (and any stop transfer instructions placed against transfer of any such fifth Trading DayShares) affixed to the portion of such Shares for which all conditions to the Purchaser’s ability to resell under Rule 144 have then been satisfied. At the time the Company authorizes the removal of the Securities Act restrictive legend (and any stop transfer instructions placed against transfer of any such Shares) pursuant to this Section 8.5, the “Legend Removal Date”)Company shall also use its commercially reasonable efforts, deliver at its sole expense, to cause its legal counsel to issue to the transfer agent a legal opinion or cause direction letter instructing the transfer agent that it is authorized to be delivered remove the Securities Act restrictive legend affixed to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)Shares as contemplated by this Section 8.5. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by responsible for the Transfer Agent to the Purchaser by crediting the account fees of the Purchaser’s prime broker with the its transfer agent and any Depository Trust Company System as directed by fees associated with such Purchaserissuance.

Appears in 1 contract

Samples: Securities Purchase Agreement (Relay Therapeutics, Inc.)

Legend Removal. Certificates evidencing the Underlying Common Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Common Shares pursuant to Rule 144, (iii) if such Underlying Common Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Common Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Common Shares, or if such Underlying Common Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Common Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Common Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Common Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such the Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (XpresSpa Group, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any effective date of a registration statement if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Friendable, Inc.)

Legend Removal. Certificates evidencing the Incentive Shares and Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Incentive Shares and Underlying Shares pursuant to Rule 144, (iii) if such Incentive Shares and Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Incentive Shares and Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Incentive Shares and Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Incentive Shares and Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Incentive Shares and Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Incentive Shares and Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Reign Sapphire Corp)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Emerald Medical Applications Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144144 (assuming with respect to Warrant Shares, cashless exercise of the Warrants), (iii) if such Underlying Shares are eligible for sale under Rule 144144 without information requirements (assuming with respect to Warrant Shares, without cashless exercise of the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions Warrants or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent during or the time any of Purchaser promptly after the aforedescribed conditions applyEffective Date, on each date a registration statement is declared effective by the Commission, if required by the Transfer Agent to effect the removal of the legend hereunder, or if requested by a Purchaser, respectively. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 and the Company is then in compliance with the current public information required under Rule 144, or if the Underlying Shares may be sold under Rule 144 (assuming with respect to Warrant Shares, cashless exercise of the Warrants) without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined below) following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Daydate, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend.

Appears in 1 contract

Samples: Securities Purchase Agreement (Glimpse Group, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144144 or Section 4(a)(1), or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder, assuming the requesting Holder is not an Affiliate of the Company (the “Legal Opinion Requirement”). If all or any Notes are converted or any portion of a Warrant Series B Preferred Stock is exercised converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, Shares or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d6.1(d), it will, no later than five two (2) Trading Days following the delivery by the Purchaser a Holder to the Company or the Transfer Agent of a certificate representing the Underlying Shares, as applicable, Shares issued with a restrictive legend (such fifth second Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser Holder a certificate representing such shares Underlying Shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.16. Certificates In lieu of delivering physical certificates representing the unlegended shares, upon request of a Holder, so long as the certificates therefor do not bear a legend and the Holder is not obligated to return such certificate for Underlying Shares subject the placement of a legend thereon, the Company shall cause its transfer agent to legend removal hereunder shall be transmitted by electronically transmit the Transfer Agent to the Purchaser unlegended shares by crediting the account of the PurchaserHolder’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Series B Exchange Agreement (Tapinator, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunderhereunder provided that all requirements under Rule 144 have been met; provided that, if requested by Purchaser, the Company shall allow the counsel for the Purchaser to render such opinion. If all or any of the Notes are converted or any portion of a Warrant is Warrants exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such the Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such the Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Andalay Solar, Inc.)

Legend Removal. Certificates evidencing the Underlying Conversion Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Conversion Shares and Warrant Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised exercised, or Shares are converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Warrant Shares or Conversion Shares, as applicable, or if such Underlying Warrant Shares or Conversion Shares, as applicable, may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Warrant Shares or Conversion Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Conversion Shares or Warrant Shares, as applicable, issued with a restrictive legend (such fifth second Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (BioSig Technologies, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares and Warrant Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement (including a Registration Statement) covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares and Warrant Shares pursuant to Rule 144, (iii) if such Underlying Shares and Warrant Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and Warrant Shares and without volume or manner-of-sale restrictions restrictions, or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares and Warrant Shares, or if such Underlying Shares and Warrant Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares and Warrant Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five (5) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying the Shares and Warrant Shares, as applicable, issued with a restrictive legend (such fifth (5th) Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (MV Portfolios, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal DateDalx”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Greenwood Hall, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares Securities shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares Securities pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during promptly if required by the time any of the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes Shares are converted or any portion of a Warrant is exercised converted, at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Conversion Shares, or if such Underlying the Conversion Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Conversion Shares or Bonus Shares, as applicable, shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Sharesthe Conversion Shares , as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three two (32) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to In lieu of delivering physical certificates representing the unlegended shares, upon request of a Purchaser, so long as the certificates therefor do not bear a legend removal hereunder shall be transmitted by the Transfer Agent to and the Purchaser is not obligated to return such certificate for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the unlegended shares by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaserthrough its Deposit Withdrawal At Custodian system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

Appears in 1 contract

Samples: Securities Purchase Agreement (KinerjaPay Corp.)

Legend Removal. Certificates evidencing the Mergeco Shares or Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five the sooner of two (2) Trading Days or the Standard Settlement Period following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing the Mergeco Shares or Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, earlier date being the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (PishPosh, Inc.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the The legend set forth in Section 4.1(b) hereof): 5.5 above shall be removed and the Company shall issue a certificate without such legend or any other legend to the holder of the applicable Shares upon which it is stamped or issue to such holder by electronic delivery at the applicable balance account at the Depository Trust Company (“DTC”), if (i) while a registration statement covering the such Shares are registered for resale of such security is effective under the Securities ActAct (provided that, if a Purchaser is selling pursuant to the applicable Registration Statement, such Purchaser agrees to only sell such Shares during such time that such Registration Statement is effective and not withdrawn or suspended, and only as permitted by such Registration Statement), (ii) following any sale of such Underlying Shares are sold or transferred pursuant to Rule 144144 (if the transferor is not an Affiliate of the Company), or (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares securities and without volume or manner-of-sale restrictions or restrictions. Following the earlier of (ivi) if such legend is not required under applicable requirements the effective date of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover initial Registration Statement covering the resale of the corresponding Underlying Shares (the “Effective Date”) or (ii) Rule 144 becoming available for the resale of Shares, or if such Underlying Shares may without the requirement for the Company to be sold in compliance with the current public information required under Rule 144 as to such securities and without volume or if manner-of-sale restrictions, the Company shall deliver to the Company’s transfer agent irrevocable instructions that the transfer agent shall reissue a certificate representing the applicable Shares without legend upon receipt by the transfer agent of the legended certificates for such Shares. Any fees (with respect to the transfer agent or otherwise) associated with the removal of such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued shall be borne by the staff of Company. Following the Commission) then Effective Date, or at such Underlying Shares shall be issued free of all legends. The Company agrees that following such earlier time as such a legend is no longer required under this Section 4.1(dfor certain Shares (in which case a Purchase shall also be required to provide reasonable assurances (in the form of seller and, if applicable, broker representation letters), it will, the Company will no later than five Trading Days three trading days following the delivery by the a Purchaser to the Company or the Transfer Agent transfer agent (with notice to the Company) of a legended certificate representing Underlying SharesShares (endorsed or with stock powers attached, as applicablesignatures guaranteed, issued with a restrictive legend (such fifth Trading Day, and otherwise in form necessary to affect the “Legend Removal Date”reissuance and/or transfer), deliver or cause to be delivered to the transferee of such Purchaser or such Purchaser, as applicable, a certificate representing such shares Shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1legends. Certificates for Underlying Shares subject to legend removal hereunder shall may be transmitted by the Transfer Agent transfer agent to the a Purchaser by crediting the account of the such Purchaser’s prime broker with the Depository Trust Company System DTC as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (Paulson Capital (Delaware) Corp.)

Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend ("Unlegended Shares") (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144144 (in the case of a non-Affiliate of the Company), without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel counsel, at the expense of the Company, to issue a legal opinion to the Transfer Agent during promptly after the time any of Effective Date if required by the aforedescribed conditions apply, Transfer Agent to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d4.1(c), it will, no later than five two (2) Trading Days following the delivery by the a Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth second (2nd) Trading Day, the "Legend Removal Date"), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days)legends. The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.14. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s 's prime broker with the Depository Trust Company System as directed by such Purchaser.

Appears in 1 contract

Samples: Securities Purchase Agreement (GT Biopharma, Inc.)

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