Common use of SALE AND PURCHASE OF CLASS C STOCK Clause in Contracts

SALE AND PURCHASE OF CLASS C STOCK. Upon the terms and subject to the conditions contained herein, the Class C Holders will sell, convey, transfer, assign and deliver to NMC, and NMC will acquire (the "Purchase") on the Closing Date (as defined in Section 1.5 below), all of the outstanding shares of the Class C Stock other than those which may have been converted prior to the Closing Date not in violation of this Agreement. Neither NMC nor the Class C Holders shall have an obligation to effect the Purchase from and after the Merger Termination Date (as defined in Section 1.2(b) below).