Common use of Restricted Transfer Clause in Contracts

Restricted Transfer. If a buy-sell agreement, right of first refusal agreement or other agreement restricting transfer of Common Stock is in effect when this Option is exercised and such agreement covers all shares of Common Stock of the Company outstanding immediately prior to such exercise, then each Optionee shall become a party to such agreement as a condition to the exercise of this Option as to such Optionee.

Appears in 2 contracts

Sources: Stock Option Agreement (In Store Media Systems Inc), Stock Option Agreement (In Store Media Systems Inc)

Restricted Transfer. If a buy-sell agreement, right of first refusal agreement or other agreement restricting transfer of Common Stock is in effect when this Option is exercised and such agreement covers all shares of Common Stock of the Company outstanding immediately prior to such exercise, then each the Optionee shall become a party to such agreement as a condition to the exercise of this Option as to such the Optionee.

Appears in 1 contract

Sources: Stock Option Agreement (In Store Media Systems Inc)