Document ID: 12194

Text:
f. Transfer or Re-sale. The Buyer understands that (i) the sale or re-sale of the Securities has not been and is not being registered under the 1933 Act or any applicable state securities laws, and the Securities may not be transferred unless (a) the Securities are sold pursuant to an effective registration statement under the 1933 Act, ( b) the Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in comparable transactions to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration, which opinion shall be accepted by the Company, (c) the Securities are sold or transferred to an affiliate (as defined in Rule 144 promulgated under the 1933 Act ( or a successor rule) (Rule 144) of the Buyer who agrees to sell or otherwise transfer the Securities only in accordance with this Section 2(f) and who is an Accredited Investor, (d) the Securities are sold pursuant to Rule 144, or (e) the Securities are sold pursuant to Regulation S under the 1933 Act ( or a successor rule) (Regulation S), and the Buyer shall have delivered to the Company, at the cost of the Buyer, an opinion of counsel that shall be in form, substance and scope customary for opinions of counsel in corporate transactions, which opinion shall be accepted by the Company; (ii) any sale of such Securities made in reliance on Rule 144 may be made only in accordance with the terms of said Rule and further, if said Rule is not applicable, any re-sale of such Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other person is under any obligation to register such Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder (in each case). Notwithstanding the foregoing or anything else contained herein to the contrary, the Securities may be pledged as collateral in connection with a bona fide margin account or other lending arrangement.

Named Entities:
30
31
Act
154
155
Regulation
222
223
Regulation

Tokenized Text:
f
.
Transfer
or
Re-sale
.
The
Buyer
understands
that
(
i
)
the
sale
or
re-sale
of
the
Securities
has
not
been
and
is
not
being
registered
under
the
1933
Act
or
any
applicable
state
securities
laws
,
and
the
Securities
may
not
be
transferred
unless
(
a
)
the
Securities
are
sold
pursuant
to
an
effective
registration
statement
under
the
1933
Act
,
(
b
)
the
Buyer
shall
have
delivered
to
the
Company
,
at
the
cost
of
the
Buyer
,
an
opinion
of
counsel
that
shall
be
in
form
,
substance
and
scope
customary
for
opinions
of
counsel
in
comparable
transactions
to
the
effect
that
the
Securities
to
be
sold
or
transferred
may
be
sold
or
transferred
pursuant
to
an
exemption
from
such
registration
,
which
opinion
shall
be
accepted
by
the
Company
,
(
c
)
the
Securities
are
sold
or
transferred
to
an
affiliate
(
as
defined
in
Rule
144
promulgated
under
the
1933
Act
(
or
a
successor
rule
)
(
Rule
144
)
of
the
Buyer
who
agrees
to
sell
or
otherwise
transfer
the
Securities
only
in
accordance
with
this
Section
2
(
f
)
and
who
is
an
Accredited
Investor
,
(
d
)
the
Securities
are
sold
pursuant
to
Rule
144
,
or
(
e
)
the
Securities
are
sold
pursuant
to
Regulation
S
under
the
1933
Act
(
or
a
successor
rule
)
(
Regulation
S
)
,
and
the
Buyer
shall
have
delivered
to
the
Company
,
at
the
cost
of
the
Buyer
,
an
opinion
of
counsel
that
shall
be
in
form
,
substance
and
scope
customary
for
opinions
of
counsel
in
corporate
transactions
,
which
opinion
shall
be
accepted
by
the
Company
;
(
ii
)
any
sale
of
such
Securities
made
in
reliance
on
Rule
144
may
be
made
only
in
accordance
with
the
terms
of
said
Rule
and
further
,
if
said
Rule
is
not
applicable
,
any
re-sale
of
such
Securities
under
circumstances
in
which
the
seller
(
or
the
person
through
whom
the
sale
is
made
)
may
be
deemed
to
be
an
underwriter
(
as
that
term
is
defined
in
the
1933
Act
)
may
require
compliance
with
some
other
exemption
under
the
1933
Act
or
the
rules
and
regulations
of
the
SEC
thereunder
;
and
(
iii
)
neither
the
Company
nor
any
other
person
is
under
any
obligation
to
register
such
Securities
under
the
1933
Act
or
any
state
securities
laws
or
to
comply
with
the
terms
and
conditions
of
any
exemption
thereunder
(
in
each
case
)
.
Notwithstanding
the
foregoing
or
anything
else
contained
herein
to
the
contrary
,
the
Securities
may
be
pledged
as
collateral
in
connection
with
a
bona
fide
margin
account
or
other
lending
arrangement
.