Common use of Securities Laws Restrictions on Resale Clause in Contracts

Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute (the “Securities Act”), the Shares will be illiquid and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Shares have been registered under the Securities Act, each certificate evidencing any of the Shares shall bear a restrictive legend specified by the Company.

Appears in 39 contracts

Samples: Stock Option Agreement (GlenRose Instruments Inc.), Incentive Stock Option Agreement (World Surveillance Group Inc.), Non Qualified Stock Option Agreement (World Surveillance Group Inc.)

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Securities Laws Restrictions on Resale. Until Unless and until registered under the Securities Act of 1933, as amended, or any successor statute (the “Securities Act”), the Shares will be illiquid and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Shares have been registered under the Securities Act, each certificate evidencing any of the Shares shall bear a restrictive legend specified by the Company.

Appears in 10 contracts

Samples: Non Qualified Stock Option Agreement (World Surveillance Group Inc.), Sanswire Corp (World Surveillance Group Inc.), Sanswire Corp (World Surveillance Group Inc.)

Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute (the "Securities Act"), the Shares will be illiquid and will be deemed to be "restricted securities" for purposes of the Securities Act. Accordingly, such shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Shares have been registered under the Securities Act, each certificate evidencing any of the Shares shall bear a restrictive legend specified by the Company.

Appears in 6 contracts

Samples: Incentive Stock Option Agreement (Phase Forward Inc), Non Qualified Stock Option Agreement (New York Global Innovations Inc.), Enernoc Inc

Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute (the “Securities Act”), the Shares will be illiquid and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares Shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Shares have been registered under the Securities Act, each certificate evidencing any of the Shares shall bear a restrictive legend specified by the Company.

Appears in 5 contracts

Samples: Non Qualified Stock Option Agreement (Marinus Pharmaceuticals Inc), Non Qualified Stock Option Agreement (Marinus Pharmaceuticals Inc), Incentive Stock Option Agreement (Matritech Inc/De/)

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Securities Laws Restrictions on Resale. Until registered under the Securities Act of 1933, as amended, or any successor statute (the “Securities Act”), any Shares into which the Shares restricted stock units are converted upon vesting will be illiquid and will be deemed to be “restricted securities” for purposes of the Securities Act. Accordingly, such shares Shares must be sold in compliance with the registration requirements of the Securities Act or an exemption therefrom and may need to be held indefinitely. Unless the Shares have been registered under the Securities Act, each certificate evidencing any of the Shares shall bear a restrictive legend specified by the Company.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Matritech Inc/De/), Restricted Stock Unit Award Agreement (Matritech Inc/De/)

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