Common use of Transfer of Stock to Trustee Clause in Contracts

Transfer of Stock to Trustee. The Parent, upon execution of this Agreement, hereby assigns and transfers to the Trustees and deposits with the Trustees all the certificates for all Trust Shares currently held by the Parent for the purpose of vesting in the Trustees the right to vote and act and to exercise other rights pertaining to the Trust Shares, as and to the extent, and upon the terms and conditions and for the period set forth, in this Agreement. The Parent hereby represents that the Trust Shares deposited by it hereunder represent all of the shares of Common Stock of which the Parent is the record or beneficial owner and that the Parent is the sole record, legal and beneficial owner of all Trust Shares deposited by it hereunder. The Parent agrees to cause any Affiliate of the Parent other than the