Common use of Consideration for Transfer Clause in Contracts

Consideration for Transfer. Notwithstanding anything to the contrary herein contained, except as may be required by Section 5 hereof, where a Transfer is made for consideration, in no event shall any such Transfer by Executive of Executive Securities be made under Section 6(c) or offered to be made under Section 6(b) for any consideration other than United States dollars payable in full upon consummation of such Transfer.

Appears in 3 contracts

Sources: Executive Securities Agreement (Houston Wire & Cable CO), Executive Securities Agreement (Houston Wire & Cable CO), Executive Securities Agreement (Houston Wire & Cable CO)

Consideration for Transfer. Notwithstanding anything to the contrary herein contained, except as may be required by Section 5 hereof, where a Transfer is made for consideration, in no event shall any such Transfer by Executive of Executive Securities be made under Section 6(c) or offered to be made under Section 6(b) for any consideration other than (i) United States dollars payable in full upon consummation of such TransferTransfer and/or (ii) a promissory note with all amounts owed thereunder payable in United States dollars.

Appears in 2 contracts

Sources: Executive Securities Agreement (Beacon Roofing Supply Inc), Chief Executive Securities Agreement (Beacon Roofing Supply Inc)