Common use of Shares to be Legended Clause in Contracts

Shares to be Legended. The shares subject to this Agreement shall be marked with a prominent legend stating that such shares are subject to the terms and conditions hereof, and may only be transferred subject to the prior presentation of a legal opinion of counsel to the transferor, satisfactory to Pipeline and its counsel, to the effect that any such transfer may be validly effected under the terms of this Agreement and other applicable law.

Shares to be Legended. The shares subject to this Agreement shall be marked with a prominent legend stating that such shares are subject to the terms and conditions hereof, and may only be transferred subject to the prior presentation of a legal opinion of counsel to the transferor, satisfactory to Pipeline and its counsel, to the effect that any such transfer may be validly effected under the terms of this Agreement and other applicable law.