Common use of Preferred Stock Legend Clause in Contracts

Preferred Stock Legend. The Preferred Stock shall bear the following legend: "THIS CERTIFICATE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS CERTIFICATE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS CERTIFICATE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS CERTIFICATE UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO UNIVERSAL COMMUNICATION SYSTEMS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED."

Preferred Stock Legend. The Preferred Stock shall bear the following legend: "THIS CERTIFICATE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS CERTIFICATE AND THE COMMON SHARES ISSUABLE UPON CONVERSION OF THIS CERTIFICATE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS CERTIFICATE UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO UNIVERSAL COMMUNICATION SYSTEMSGENESIS TECHNOLOGY GROUP, INC. THAT SUCH REGISTRATION IS NOT REQUIRED."