Common use of Transfer of Class B Common Stock Clause in Contracts

Transfer of Class B Common Stock. At or prior to the Effective Time, ▇▇▇▇▇▇ shall transfer or otherwise surrender to the Company all of his interest in the Class B Common Stock for no consideration and ▇▇▇▇▇▇ shall cease to be a shareholder of ▇▇▇▇▇▇ and Company. As a result of the consummation of transfer contemplated in this Section 5.05, ▇▇▇▇▇▇ and Company shall become a wholly-owned subsidiary of the Company.