Common use of Legending of the Shares Clause in Contracts

Legending of the Shares. The Purchaser also acknowledges and understands that the certificates representing the Shares will be stamped with the following legend (or substantially equivalent language) restricting transfer in the following manner: “The shares represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Act”) and are Restricted Securities as that term is defined in Rule 144 under the Act, and requires written release from either the issuing company or their attorney prior to legend removal.”