Common use of Restricted Note Clause in Contracts

Restricted Note. Holder understands that the Note will be a "restricted security" under applicable securities laws inasmuch as it is being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations the Note may be resold without registration under the Acts only in certain limited circumstances. Holder acknowledges that the Note must be held indefinitely unless subsequently registered under the Acts or an exemption from such registration is available.

Restricted Note. Holder understands that the Note will be a "“restricted security" ” under applicable securities laws inasmuch as it is being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations the Note may be resold without registration under the Acts only in certain limited circumstances. Holder acknowledges that the Note must be held indefinitely unless subsequently registered under the Acts or an exemption from such registration is available.