Common use of Compliance with NASD Rules Clause in Contracts

Compliance with NASD Rules. New Gold ▇▇▇▇ hereby agrees that it will ensure that the Reserved Securities will be restricted as required by the NASD or the NASD rules from sale, transfer, assignment, pledge or hypothecation for a period of three months following the date of this Agreement. The Underwriters will notify New Gold ▇▇▇▇ as to which persons will need to be so restricted. At the request of the Underwriters, New Gold ▇▇▇▇ will direct the transfer agent to place a stop transfer restriction upon such securities for such period of time. Should New Gold ▇▇▇▇ release, or seek to release, from such restrictions any of the Reserved Securities, New Gold ▇▇▇▇ agrees to reimburse the Underwriters for any reasonable expenses (including, without limitation, legal expenses) they incur in connection with such release.