Common use of Legend on Shares Clause in Contracts

Legend on Shares. Each certificate for securities initially issued upon exercise of this Warrant, unless at the time of exercise such shares are registered under the Acts, shall bear substantially the following legend (and any additional legend required under said Acts or otherwise): “The securities represented by this Certificate have not been registered under the Securities Act of 1933 or any state securities acts (the “Acts”) and cannot be transferred except (i) pursuant to a registration statement effective under the Acts, or (ii) pursuant to an exemption from the registration requirements of the Acts.” Any certificate issued at any time in exchange or substitution for any certificate bearing such legend (except a new certificate issued upon completion of a public distribution pursuant to a registration statement under the Acts of the securities represented thereby) shall also bear such legend unless, in the reasonable opinion of counsel for the Company, the securities represented thereby need no longer be subject to the transfer restrictions contained in this Warrant. The conversion and transfer restriction provisions of this Warrant shall be binding upon all successive Holders of this Warrant.

Legend on Shares. Each certificate for securities shares of Common Stock initially issued upon exercise of this Warrant, unless at the time of exercise such shares Shares are registered under the Acts, shall bear substantially the following legend (and any additional legend required under said Acts acts or otherwise): “"The securities represented by this Certificate certificate have not been registered under the Securities Act of 1933 or any state securities acts (the “"Acts”") and cannot be transferred except (i) pursuant to a registration statement effective under the Acts, or (ii) pursuant to an exemption from the registration requirements of the Acts.” " Any certificate issued at any time in exchange or substitution for any certificate bearing such legend (except a new certificate issued upon completion of a public distribution pursuant to a registration statement under the Acts of the securities represented thereby) shall also bear such legend unless, in the reasonable opinion of such counsel for as shall be approved by the Company, the securities represented thereby need no longer be subject to the transfer restrictions contained in this Warrant. The conversion transfer and transfer restriction provisions of this Warrant shall be binding upon all successive subsequent Holders of this the Warrant.