Common use of DISPOSITION OF THE STOCK Clause in Contracts

DISPOSITION OF THE STOCK. Each Purchaser represents that he or she is familiar with the provisions of Rule 144, promulgated under the Act, which, in substance, permit limited public sale of "restricted securities" acquired, directly or indirectly from the issuer thereof, in a nonpublic offering, subject to the satisfaction of certain conditions. In the event the Corporation is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each Purchaser is subject to the satisfaction of certain of the conditions specified by Rule 144, including among other things: (1) the sale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as that term is defined under the Exchange Act); and (2), the availability of certain public information about the Corporation, and the amount of the Corporation's securities being sold during any three month period not exceeding the limitations specified in Rule 144(e). (1) the resale occurring not less than one year after the party has purchased, and made full payment for, within the meaning of Rule 144, the securities to be sold; and, in the case of an affiliate, or of a nonaffiliate who has held the securities less than two years, (2) the availability of certain public information about the Company, (3) the sale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as that term is defined under the Exchange Act), and (4) the amount of the Corporation's securities being sold during any three month period not exceeding the specified limitations stated therein, if applicable.

DISPOSITION OF THE STOCK. Each Purchaser represents that he or she is familiar with the provisions of Rule 144, promulgated under the Act, which, in substance, permit limited public sale of "restricted securities" acquired, directly or indirectly from the issuer thereof, in a nonpublic offering, subject to the satisfaction of certain conditions. In the event the Corporation is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), each Purchaser is subject to the satisfaction of certain of the conditions specified by Rule 144, including among other things: (1) the sale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as that term is defined under the Exchange Act); and (2), the availability of certain public information about the Corporation, and the amount of the Corporation's securities being sold during any three month period not exceeding the limitations specified in Rule 144(e). (1) the resale occurring not less than one year after the party has purchased, and made full payment for, within the meaning of Rule 144, the securities to be sold; and, in the case of an affiliate, or of a nonaffiliate who has held the securities less than two years, (2) the availability of certain public information about the Company, (3) the 3)the sale being made through a broker in an unsolicited "broker's transaction" or in transactions directly with a market maker (as that term is defined under the Exchange Act), and (4) the amount of the Corporation's securities being sold during any three month period not exceeding the specified limitations stated therein, if applicable.