Common use of Legending of Shares Clause in Contracts

Legending of Shares. All certificates representing the Shares shall have endorsed thereon a legend substantially as follows: “The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”), or any state securities law and may not be sold, pledged, hypothecated, transferred or otherwise disposed of in the absence of an effective registration statement covering these securities under the Act and all applicable state securities laws or an opinion from counsel reasonably satisfactory to the Company in form and substance satisfactory to the Company that registration is not required under the Act or under applicable state securities laws.”

Legending of Shares. All certificates representing the Shares to be issued to you pursuant to this Agreement shall have endorsed thereon a legend legends substantially as follows: “"The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “"Act”), ") or any state securities law and may not be sold, pledged, hypothecated, hypothecated or transferred or otherwise disposed of in the absence of an effective registration statement covering these securities under the Act and all any applicable state securities laws or an opinion from of counsel reasonably satisfactory to the Company in form and substance satisfactory to the Company that registration is not required under the Act or under applicable state securities laws.”"