Common use of Ceasing to be a Party Clause in Contracts

Ceasing to be a Party. Except as otherwise specifically provided herein, if a Person (other than either of the Companies) who was a Shareholder shall cease to hold any Equity Securities, then from that point forward that Person shall be deemed to no longer be a party to this Agreement; provided, however, that where such Person disposed of his Equity Securities in compliance with the provisions of this Agreement, he shall be entitled to the benefit of and be bound by the rights and obligations set forth in this Agreement in respect of matters occurring prior to such disposition.

Ceasing to be a Party. Except as otherwise specifically provided herein, if a Person (other than either of the Companies) who was a Shareholder shall cease to hold no longer holds any Equity SecuritiesSecurities and is owed no monies by the Company, then from that point forward that Person Shareholder shall be deemed to no longer be a party to this Agreement; provided, however, provided however that where such Person Shareholder disposed of his Equity Securities in compliance with the provisions of this Agreement, he Agreement the Shareholder shall be entitled to the benefit of and be bound by the rights and obligations set forth in this Agreement in respect of matters occurring prior to such disposition.

Ceasing to be a Party. Except as otherwise specifically provided herein, if a Person (other than either of the Companies) who was a Shareholder shall cease to hold no longer holds any Equity SecuritiesSecurities and is owed no monies by the Corporation or any of its Subsidiaries, then from that point forward that Person shall be deemed to no longer be a party to this Agreement; provided, however, provided however that where such Person disposed of his Equity Securities in compliance with the provisions of this Agreement, Agreement he shall be entitled to the benefit of and be bound by the rights and obligations set forth in this Agreement in respect of matters occurring prior to such disposition.