Common use of REPRESENTATIONS OF CORPORATION Clause in Contracts

REPRESENTATIONS OF CORPORATION. During such time as the Option remains outstanding and unexpired, Corporation will reserve for issuance, upon the exercise of the Option, the number of shares of Corporation's $.01 par value common stock that are subject to the Option. The shares of Corporation's $.01 par value common stock subject to the Option, when issued, shall be fully paid and nonasessable. Corporation will pay, when due and payable, any and all taxes or fees that may be payable by Corporation with respect to the grant of the Option or the issuance of any shares of Corporation's $.01 par value of common stock or certificates therefore subject to the Option. This does not include, however, any federal, state or other personal income tax payable by Holder because of (i) the grant of the Option; (ii) the issuance of any share of the Corporation's $.01 par common stock upon exercise thereof; or (iii) any subsequent disposition of such shares, which shall remain the obligation of Holder.

REPRESENTATIONS OF CORPORATION. During such time as the Option remains outstanding and unexpired, Corporation will reserve for issuance, upon the exercise of the Option, the number of shares of Corporation's $.01 .001 par value common stock that are subject to the Option. The shares of Corporation's $.01 .001 par value common stock subject to the Option, when issued, shall be fully paid and nonasessable. Corporation will pay, when due and payable, any and all taxes or fees that may be payable by Corporation with respect to the grant of the Option or the issuance of any shares of Corporation's $.01 .001 par value of common stock or certificates therefore subject to the Option. This does not include, however, any federal, state or other personal income tax payable by Holder because of (i) the grant of the Option; (ii) the issuance of any share of the Corporation's $.01 .001 par common stock upon exercise thereof; or (iii) any subsequent disposition of such shares, which shall remain the obligation of Holder.