Common use of Transfer Orders Clause in Contracts

Transfer Orders. The certificates for Shares will bear legends in substantially the following form: THE SHARES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE AND, ACCORDINGLY, MAY BE OFFERED, SOLD, TRANSFERRED OR PLEDGED ONLY IN A TRANSACTION WHICH IS REGISTERED UNDER SUCH ACT AND UNDER SUCH LAWS OR IS EXEMPTED FROM SUCH REGISTRATION REQUIREMENTS. The foregoing legend shall be removed from any such certificate at the request of the holder thereof at such time as the shares represented thereby are registered under the Securities Act or become eligible for resale under Rule 144 promulgated under the Securities Act.