Common use of LEGEND CONDITION Clause in Contracts

LEGEND CONDITION. In the event any shares of this corporation are issued pursuant to a permit or exemption therefrom requiring the imposition of a legend condition, the person or persons issuing or transferring said shares shall make sure said legend appears on the certificate and shall not be required to transfer any shares free of such legend unless an amendment to such permit or a new permit be first issued so authorizing such a deletion.

Appears in 3 contracts

Sources: Shareholder Agreement, Merger Agreement (Ophthalmic Imaging Systems), Merger Agreement (Ophthalmic Imaging Systems)