Common use of Release Instructions Clause in Contracts

Release Instructions. (a) 100,000 shares owned by ▇▇. ▇▇▇▇ shall not be restricted by this Agreement and shall be released from the restrictions of this Agreement provided such shares are sold in accordance with a private transaction, and the Issuer shall so notify the Transfer Agent of such release of the 100,000 shares for sale by ▇▇. ▇▇▇▇ (provided the shares are sold in accordance with a private transaction). (b) At the end of 13 months from the date of this Agreement, Issuer shall release an additional 100,000 shares from the restrictions provided in this Agreement, provided that such shares are only sold in a private transaction (and not in a transaction in the public trading market). (c) All restrictions set forth in this Agreement shall lapse and be of no further effect 19 months following the execution of this Agreement. Upon lapse of said restrictions, the Issuer shall notify the Transfer Agent to remove the stop transfer instructions. Upon tender of the certificate(s) by ▇▇▇▇ to the Transfer Agent, the Transfer Agent will be instructed to issue a certificate without a legend describing or relating to this Agreement.