Common use of Restrictions on Transfers of Stock Clause in Contracts

Restrictions on Transfers of Stock. (a) No Shareholder shall Transfer any Stock, whether owned on the date hereof or acquired hereafter, without first complying with the provisions of Section 5 hereof and then, in each case as applicable, complying with the provisions of Section 6 hereof, provided that the foregoing shall not be deemed to prohibit pledges of Stock effected by Shareholders prior to the date in accordance with the terms of the Prior Shareholder Agreement as long as such terms continue to be applicable to such transfers. Notwithstanding any other provision hereof, no Senior Management Shareholder may Transfer any Stock if, after giving effect to such Transfer, such Senior Management Shareholder shall have Transferred in the aggregate an amount of Common Stock in excess of 5%

Restrictions on Transfers of Stock. (a) No Shareholder shall Transfer any Stock, whether owned on the date hereof or acquired hereafter, without first complying with the provisions of Section 5 hereof and then, in each case as applicable, complying with the provisions of Section 6 hereof, provided that the foregoing shall not be deemed to prohibit pledges of Stock effected by Shareholders prior to the date in accordance with the terms of the Prior Shareholder Agreement as long as such terms continue to be applicable to such transfers. Notwithstanding any other provision hereof, no Senior Management Shareholder may Transfer any Stock if, after giving effect to such Transfer, such Senior Management Shareholder shall have Transferred in the aggregate an amount of Common Stock in excess of 5%% of the outstanding Common Stock held by such Senior Management Shareholder as of the date hereof, except that from and after a Qualified IPO, any Senior Management Shareholder