Restricted Holders. No Conversion Right represented by a Bond may be exercised by any person who is a Restricted Holder, and the exercise of any Conversion Right by a Bondholder shall constitute a confirmation, representation and warranty by the exercising Bondholder to the Company that such Bondholder is not a Restricted Holder and that all necessary governmental, regulatory or other consents or approvals and all formalities have been obtained and observed by such Bondholder to enable him to exercise legally and validly the relevant Conversion Right, to hold the Conversion Shares allotted and issued upon exercise of the Conversion Right and the Company to legally and validly allot the Conversion Shares.
Appears in 2 contracts
Sources: Subscription Agreement, Subscription Agreement