Common use of Restriction of Transfer Clause in Contracts

Restriction of Transfer. No transfer or other disposition of shares of capital stock of the Corporation owned by any Shareholder shall be made by any Shareholder in contravention of the terms of this Agreement. Dispositions of shares governed by this Agreement shall include any transfer, gift, sale, assignment, pledge, hypothecation or other disposition of shares of Stock, with the exceptions provided in Section 2.6 of this Agreement. Any disposition of shares of Stock made in contravention of this Agreement shall be null, void and of no effect. The Corporation shall not take any action to effectuate any disposition of Stock in contravention of this Agreement and shall not record any such transfer on the books of the Corporation.

Restriction of Transfer. No transfer or other disposition of shares of capital stock of the Corporation owned by any Shareholder shall be made by any Shareholder in contravention of the terms of this Agreement. Dispositions of shares governed by this Agreement shall include any transfer, gift, sale, assignment, pledge, hypothecation or other disposition of shares of Stock, with the exceptions provided in Section 2.6 of this Agreement. Any disposition of shares of Stock made in contravention of this Agreement shall be null, void and of no effect. The Corporation shall not take any action to effectuate any disposition of Stock in contravention of this Agreement and shall not record any such transfer on the books of the Corporation.2