Common use of Restricted Note Legend Clause in Contracts

Restricted Note Legend. Subject to Section 2.12, (i) each Certificate representing any Note that is a Transfer-Restricted Security will bear the Restricted Note Legend; and (ii) if a Note is issued in exchange for, or in substitution of, another Note or is issued in connection with the conversion of another Note represented by the same Certificate (such other Note being referred to as the “old Note” for purposes of this Section 2.09(D)(ii)), including pursuant to Section 2.10(B), 2.10(C), 2.11 or 2.13, then the Certificate representing such Note will bear the Restricted Note Legend if the Certificate representing such old Note bore the Restricted Note Legend at the time of such exchange or substitution, or on the related Conversion Date with respect to such conversion, as applicable; provided, however, that the Certificate representing such Note need not bear the Restricted Note Legend if such Note does not constitute a Transfer-Restricted Security immediately after such exchange or substitution, or as of such Conversion Date, as applicable.