Common use of General Transfer Restriction Clause in Contracts

General Transfer Restriction. Each Investor covenants and agrees that it will not, and it will not permit its Affiliates to, Dispose or cause the Disposition of such Investor's shares of Covered Stock or any interest therein for a period of three years after the Effective Date of this Agreement, except in accordance with the terms and conditions of this Article V; PROVIDED THAT, except for the 500,000 shares of IFX Common Stock acquired by ITI pursuant to Section 2.1 (which shares remain subject to the foregoing restrictions notwithstanding Section 7.3), ITI also may Dispose of any other shares of its Covered Stock pursuant to Section 7.3. Any attempted Disposition not in accordance with the terms and conditions of this Agreement shall be null and void and of no force or effect.

Appears in 1 contract

Sources: Subscription and Joint Venture Agreement (International Technology Investments L C)

General Transfer Restriction. Each Investor covenants and agrees that ---------------------------- it will not, and it will not permit its Affiliates to, Dispose or cause the Disposition of such Investor's shares of Covered Stock or any interest therein for a period of three years after the Effective Date of this Agreement, except in accordance with the terms and conditions of this Article V; PROVIDED THATprovided that, -------- ---- except for the 500,000 shares of IFX Common Stock acquired by ITI pursuant to Section 2.1 (which shares remain subject to the foregoing restrictions notwithstanding Section 7.3), ITI also may Dispose of any other shares of its Covered Stock pursuant to Section 7.3. Any attempted Disposition not in accordance with the terms and conditions of this Agreement shall be null and void and of no force or effect.

Appears in 1 contract

Sources: Subscription and Joint Venture Agreement (Ifx Corp)