Common use of Securities Representation Clause in Contracts

Securities Representation. Each Principal severally agrees that, prior to the delivery of any Warrants issued to each Principal pursuant to the provisions hereof, each Principal will execute and deliver to ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ Subsidiary an investment letter in the form of Exhibit F hereto. Each certificate representing the Warrants, issued to each Principal, shall bear the following legend: "This Warrant and the shares underlying this Warrant shall not be transferable at any time unless (i) a registration statement under the Securities Act of 1933 shall be in effect with respect to such transfer at such time or (ii) counsel for ▇▇▇▇▇▇▇▇▇ Industries Inc. shall give it an opinion to the effect that such registration under said Act of such transfer at such time is not required." Each Principal severally represents and warrants to ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ Subsidiary that no transaction in the Warrants will be effected other than transactions which will be exempt from registration under the Securities Act of 1933, as amended.