Common use of Instructions to Transfer Agent Clause in Contracts

Instructions to Transfer Agent. The Company agrees that it shall, ------------------------------ immediately prior to the Effective Date, deliver to its transfer agent an opinion letter of its counsel, opining that at any time the Registration Statement is effective, the transfer agent shall issue, in connection with the issuance of the Shares and the Warrant Shares, certificates representing such Shares and Warrant Shares without the restrictive legend above, provided such Shares and Warrant Shares are to be sold pursuant to the prospectus contained in the Registration Statement. Upon receipt of such opinion, the Company shall use best efforts to cause the transfer agent to confirm, for the benefit of the Investors, that no further opinion of counsel will be required at the time of transfer in order to issue such shares without such restrictive legend.