Common use of Restrictions of Transfer Clause in Contracts

Restrictions of Transfer. The Subscriber understands that the Securities are characterized as "restricted securities" under the 1933 Act and Rule 144 promulgated thereunder inasmuch as they are being acquired from the Company in a transaction not involving a public offering, and that under the 1933 Act and applicable regulations thereunder such securities may be resold without registration under the 1933 Act only in certain limited circumstances. In this connection, such Subscriber represents that such Subscriber is familiar with Rule 144 of the 1933 Act, as presently in effect, and understands the resale limitations imposed thereby and by the 1933 Act. Such Subscriber understands that the Company is under no obligation to register any of the securities sold hereunder except as may be described in this Agreement under Section 2.2.6.1 or 2.2.6.2.