Common use of Restrictions Under Securities Laws Clause in Contracts

Restrictions Under Securities Laws. Such Initial Registered ---------------------------------- Holder is an "accredited investor" within the meaning of Regulation D promulgated under the Securities Act. The Warrants and, if exercised, the Shares are being acquired by such Initial Registered Holder for its own account for investment and not with a view to the public distribution or resale thereof. Such Initial Registered Holder understands that the Warrants and Shares have not been registered under the Securities Act or any state securities or blue sky laws, by reason of their issuance in a transaction exempt from the registration requirements thereunder and may not be resold unless the subsequent disposition thereof is registered thereunder or is exempt from registration thereunder.

Restrictions Under Securities Laws. Such The Initial Registered ---------------------------------- Holder is an "“accredited investor" ” within the meaning of Regulation D promulgated under the Securities Act. The Warrants Warrant and, if exercised, the Shares are being acquired by such the Initial Registered Holder for its own account for investment and not with a view to the public distribution or resale thereof. Such The Initial Registered Holder understands that the Warrants Warrant and Shares have not been registered under the Securities Act or any state securities or blue sky laws, by reason of their issuance in a transaction exempt from the registration requirements thereunder and may not be resold unless the subsequent disposition thereof is registered thereunder or is exempt from registration thereunder.