Common use of Agreement Not to Sell Clause in Contracts

Agreement Not to Sell. The Investor hereby covenants and agrees that it will not, nor will it permit any of its affiliates (including parents, subsidiaries or other related entities) to, directly or indirectly sell, contract to sell (including, without limitation, any short sale), grant any option to purchase or otherwise transfer or dispose or any of the Series E Shares, the Common Stock issuable upon conversion thereof or the IPO Shares without the prior written consent of the Company during the period from the Closing Date or the IPO Closing Date, as applicable, through the later of (a) completion of the work conducted under all Project Plans under the Collaboration Agreement; or (b) the earlier of (i) the fifth anniversary of the date of this Agreement or (ii) the second anniversary of the IPO Closing Date. In order to enforce the provisions of this Section 6.2, the Company may impose stop-transfer instructions with respect to the securities held by the Investor and its affiliates that are subject to the foregoing restriction until the end of such period.

Appears in 4 contracts

Samples: Collaboration Agreement (Diversa Corp), Collaboration Agreement (Diversa Corp), Stock Purchase Agreement (Diversa Corp)

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