Conditions and Obligations. The Company shall not be obligated to issue shares of Common Stock upon exercise of the Option if the Company is advised by its legal counsel that such issuance would violate applicable state or federal laws, including securities laws. The Company will use its best efforts to take steps required by state or federal law or applicable regulations in connection with issuance of shares upon exercise of the Option.
Appears in 2 contracts
Sources: Stock Option Agreement (Columbia Sportswear Co), Stock Option Agreement (Columbia Sportswear Co)