Common use of Replacement of Transfer Agent Clause in Contracts

Replacement of Transfer Agent. In the event that the Parent proposes to replace its transfer agent, the Parent fails to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to this Note (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent to Parent and the Parent.