Covenants of Principal Stockholders. (a) Each Principal Stockholder, acting solely in its capacity as a holder of Shares and not as a director or officer of the Company or in any other capacity, hereby, severally and not jointly with any other Principal Stockholder, covenants and agrees during the time this Agreement is in effect that, except as otherwise contemplated herein, such Principal Stockholder shall not, and shall not offer or agree to, sell, transfer, tender, assign, hypothecate or otherwise dispose of, or create any security interest, lien, claim or pledge with respect to, all or any portion of its Principal Stockholder Shares, unless in each case (i) the transferee agrees in writing to be bound by the terms and conditions of this Agreement to the same extent as the transferor and (ii) the transferee is an affiliate of such Principal Stockholder, is an “accredited investor” (as defined in the Securities Act and the rules and regulations promulgated thereunder) or acquires all of the Principal Stockholder Shares of such Principal Stockholder.
Covenants of Principal Stockholders
