Common use of Status of Shareholder Clause in Contracts

Status of Shareholder. Neither the Optionee nor any party to which the Optionee's rights and privileges under this Option may pass shall be, or have any of the rights or privileges of, a shareholder of the Company with respect to any of the shares issuable upon the exercise of this Option granted unless and until payment for such shares shall have been made in full and until the date of issuance of a stock certificate for such shares.

Status of Shareholder. Neither the Optionee you nor any party person or persons to which the Optionee's whom your rights and privileges under this Option option may pass shall be, or have any of the rights or privileges of, a shareholder of the Company with respect to any of the shares issuable upon the exercise of this Option granted option unless and until payment for such shares shall have this option has been made in full and until the date of issuance of a stock certificate for such sharesexercised.