Common use of Transfer of Voting Trust Certificates Clause in Contracts

Transfer of Voting Trust Certificates. The Voting Trust Certificates are transferable by the Shareholder; but only upon receipt by the Trustee of the following: (a) the written direction of the transferring Shareholder to the Trustee and the Company specifying the transferee and the number of Shares to be evidenced by the Voting Trust Certificate or portion thereof that is transferred, (b) the written confirmation of the Company (which the Company will not unreasonably withhold or delay) that such transfer is permitted by the Transaction Agreement), and (c) a written undertaking signed by the transferee in form and substance reasonably satisfactory to the Company pursuant to which the transferee agrees to comply with and be subject to the terms of this Agreement.

Appears in 2 contracts

Sources: Equity Purchase Agreement (Staktek Holdings Inc), Equity Purchase Agreement (Staktek Holdings Inc)