Common use of Securities Are Not Registered Clause in Contracts

Securities Are Not Registered. (a) The Holder understands that this Option and the Exercise Shares have not been registered under the Act on the basis of an applicable exemption from such registration. The Holder realizes that the basis for the exemption may not be present if, notwithstanding Holder’s representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intention.

Securities Are Not Registered. (a) The Holder understands that this Option the offer and sale of the Warrant or the Exercise Shares have not been registered under the Securities Act on the basis that no distribution or public offering of an applicable exemption from such registrationthe securities is to be effected. The Holder realizes that the basis for the exemption may not be present if, notwithstanding if the Holder’s representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period representations in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intentionthis Section 4 are untrue.

Securities Are Not Registered. (a) The Holder understands that this Option Warrant and the Exercise Shares have not been registered under the Securities Act on the basis that no distribution or public offering of an applicable exemption from such registrationthe stock of the Company is to be effected. The Holder realizes that the basis for the exemption may not be present if, notwithstanding Holder’s its representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intention.