Common use of Held Indefinitely Clause in Contracts

Held Indefinitely. The Purchaser understands that the Option Shares must be held indefinitely unless subsequently registered under the Securities Act or unless an exemption from registration is otherwise available. Moreover, the Purchaser understands that the Company is under no obligation to register the Option Shares. The Purchaser understands that the stock certificate(s) evidencing the Option Shares will be imprinted with a legend which prohibits the transfer of the Option

Held Indefinitely. The Purchaser understands that the Option Shares must be held indefinitely unless subsequently registered under the Securities Act or unless an exemption from registration is otherwise available. Moreover, the Purchaser understands that the Company is under no obligation to register the Option Shares. The Purchaser understands that the stock certificate(s) evidencing the Option Shares will be imprinted with a legend which prohibits the transfer of the OptionOption Shares unless they are registered or such registration is not required in the opinion of counsel for the Company.