Common use of Uncertified Shares Clause in Contracts

Uncertified Shares. i. The undersigned acknowledges that the Company is authorized to issue uncertificated shares, and hereby waives the undersigned’s right to receive a stock certificate representing the securities and consents and agrees to the issuance of uncertificated shares. If the Company does issue a certificate representing the Shares, it will be imprinted with a legend in substantially the following form: “The securities represented by this certificate, and the securities receivable upon exercise hereof, have not been registered under either the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws and may not be offered, sold, assigned, pledged or otherwise transferred unless pursuant to an effective registration statement under the Securities Act and such state securities laws, or the Company receives an opinion of counsel acceptable to the Company stating that such