Common use of Open Trading & Issuance of New Share Tokens Clause in Contracts

Open Trading & Issuance of New Share Tokens. All Shareholders agree that the Issuer may decide to offer Share Tokens for public sale and repurchase by the Issuer to create a public market for the Share Tokens ("Open Trading"). The Issuer is under no obligation to offer or repurchase the Share Tokens and may stop the Open Trading at any time or limit the Open Trading to selling or buying only. To enable the Open Trading for existing Share Tokens, all Shareholders hereby waive their right to equal treatment for the repurchase of Share Tokens and their subscription right for the sale of Share Tokens. In case of a capital increase for the creation of new Share Tokens that are intended for sale through Open Trading, the Token Holders agree that their subscription rights are granted by having equal access to the Open Trading. (i) the Share Tokens are subject to any transfer restrictions under the articles of association (Vinkulierung), and (ii) the Issuer does not implement any allow-listing, the Shareholders acknowledge and agree that board of directors of the Issuer may approve all transfers of the Share Tokens in advance and withdraw such general approval for specific transfers or acquirers at its own discretion.

Open Trading & Issuance of New Share Tokens. All Shareholders agree that the Issuer may decide to offer Share Tokens for public sale and repurchase by the Issuer to create a public market for the Share Tokens ("Open Trading"). The Issuer is under no obligation to offer or repurchase the Share Tokens and may stop the Open Trading at any time or limit the Open Trading to selling or buying only. To enable the Open Trading for existing Share TokensTrading, all Shareholders hereby waive their right to equal treatment for the repurchase of Share Tokens and their subscription right for the sale of existing Share Tokens. In case of a capital increase for the creation of new Share Tokens that are intended for sale through Open Trading, the Token Holders agree that their subscription rights are granted by having equal access to the Open Trading. . In case (i) the Share Tokens are subject to any transfer restrictions under the articles of association (Vinkulierung), and (ii) the Issuer does not implement any an allow-listing, the Shareholders acknowledge and agree that the board of directors of the Issuer may approve all transfers of the Share Tokens in advance and withdraw such general approval for specific transfers or acquirers at its own discretionadvance.