Common use of Transfer Agent Instruction Clause in Contracts

Transfer Agent Instruction. (a) Subject to section 11 hereof it shall be the Seller's responsibility to take all necessary actions and to bear all such costs to issue the Certificate of Common Stock as provided herein, including the responsibility and cost for delivery of any necessary opinion letter to the transfer agent, if so required, provided Buyer provides such certificates and information as may be reasonably required to support that opinion. The person in whose name the certificate of Common Stock is to be registered shall be treated as a shareholder of record on and after the conversion date. The shares of common stock subscribed to thereunder shall be in the name of the subscriber or their nominees. (b) The issuance of certificates representing the share of Common does not in any manner imply that such shares are free from the resale restrictions more fully described in Section 11 hereof.