Termination of Certain Restrictions. The legend required by Section 2(b) shall terminate as to any securities (A) upon the termination of this Agreement or (B) upon the valid transfer of such shares to a transferee who is not required to agree to take and hold such shares subject to the provisions of Section 2(a) of this Agreement. Whenever the legend requirements of Section 2(b) shall terminate as to any securities, the holder thereof shall be entitled to receive from the Company, at the Company's expense, a new certificate evidencing such securities not bearing the restrictive legend set forth in Section 2(b) hereof.
Appears in 2 contracts
Sources: Stockholders Agreement (Phoenix Network Inc), Stockholders Agreement (Thornhill Max E)