Legends Clause Example from Business Contracts

Legends. Subscriber consents to the notation of the Securities with a legend substantially similar to the following reciting restrictions on the transferability of the Securities: The Securities represented hereby have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and have not been registered under any state securities laws. These Securities may not be sold, offered for sale or transferred, without first obtaining (i) an opinion of counsel satisfactory to the Co...mpany that such sale or transfer lawfully is exempt from registration under the Securities Act and under the applicable state securities laws or (ii) without an effective registration statement related thereto. Moreover, these Securities may be transferred only in accordance with the terms of the Company's Certificate of Designation of Series B Preferred Stock, a copy of which is on file with the Secretary of the Company. View More