Common use of Note Legend Clause in Contracts

Note Legend. Except as otherwise provided herein, the Notes issued and issuable pursuant to this Agreement will bear the following legend: "THE NOTE REPRESENTED BY THIS DOCUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO PREMIER INDFEMNITY HOLDING COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.”