Common use of Restrictions on Dispositions Clause in Contracts

Restrictions on Dispositions. The Warrants and the Warrant Shares have been registered under the Act pursuant to the Registration Statement; however, Prime Charter acknowledges that the Warrants and the Warrant Shares may not be transferred except pursuant to (i) a post-effective amendment to the Registration Statement, (ii) an effective registration statement under the Act or (iii) any available exemption from registration under the Act permitting such disposition of securities and upon delivery to the Company of an opinion of counsel, reasonably satisfactory to counsel for the Company, that such exemption from registration is available. Prime Charter agrees that the certificates representing the Warrants and Warrant Shares shall bear an appropriate restrictive legend to such effect.

Restrictions on Dispositions. The Warrants and Warrants, the Warrant Shares have been registered under the Act pursuant to the Registration Statement; however, Prime Charter acknowledges that the Warrants Warrants, the Warrant Shares and the Warrant Conversion Shares may not be transferred except pursuant to (i) a post-effective amendment to the Registration Statement, (ii) an effective registration statement under the Act or (iii) any available exemption from registration under the Act permitting such disposition of securities and upon delivery to the Company of an opinion of counsel, reasonably satisfactory to counsel for the Company, that such exemption from registration is available. Prime Charter agrees that the certificates representing the Warrants Warrants, Warrant Shares and Warrant Conversion Shares shall bear an appropriate restrictive legend to such effect.

Restrictions on Dispositions. The Warrants and the Warrant Shares have been registered under the Act pursuant to the Registration Statement; however, Prime Charter acknowledges that the Warrants and the Warrant Shares may not be transferred transferred, assigned or hypothecated for a period of one year, except pursuant to (i) a post-effective amendment to the Registration Statement, (ii) an effective registration statement under the Act or (iii) any available exemption from registration under the Act permitting such disposition of securities and upon delivery to the Company of an opinion of counsel, reasonably satisfactory to counsel for the Company, that such exemption from registration is available. Prime Charter agrees that the certificates representing the Warrants and Warrant Shares shall bear an appropriate restrictive legend to such effect.