Common use of FUTURE STOCK ISSUANCE Clause in Contracts

FUTURE STOCK ISSUANCE. The Corporation agrees that, as a part of the consideration to be received for the issuance of any additional Stock by the Corporation, the Corporation shall require the purchaser of such Stock, and the spouse of such purchaser (if any), to assume all of the rights, restrictions and obligations that are conferred and imposed upon the Shareholders and their spouses pursuant to the terms of this Agreement, such purchaser and his or her spouse to evidence their agreement to be so bound by becoming signatory parties to this Agreement in their respective capacities as Shareholder and spouse of a Shareholder. The Shareholders agree to enter into an amendment to this Agreement providing that any such purchaser shall be deemed to be a Shareholder of the Corporation, and that such purchaser's spouse shall be deemed to be a spouse consenting to the terms of this Agreement. Prior to the issuance of any additional Stock of the Corporation, the Shareholders who are parties to this Agreement shall be allowed to purchase any additional Stock to be offered by the Corporation upon such terms as the Corporation may so offer in order to maintain their pro rata ownership in the Corporation.