CVRs Not Transferable Sample Clauses
The 'CVRs Not Transferable' clause establishes that Contingent Value Rights (CVRs) issued under an agreement cannot be sold, assigned, or otherwise transferred to another party. In practice, this means that only the original recipients of the CVRs retain the right to any future payments or benefits tied to the CVRs, and they cannot pass these rights on to others, whether through sale, gift, or inheritance. This restriction ensures that the issuer maintains control over the distribution and administration of CVRs, preventing a secondary market and reducing administrative complexity or potential disputes over ownership.
CVRs Not Transferable. The CVRs shall not be transferable other than from the Investor to a wholly owned subsidiary of the Investor or from a wholly owned subsidiary of the Investor to the Investor or another wholly owned subsidiary of the Investor. Upon the sale, transfer or other disposition by the Investor or a wholly owned subsidiary of the Investor (other than to the Investor or a wholly owned subsidiary of the Investor) of any shares of Class A Common Stock that were issued upon the conversion of shares of Preferred Stock or upon consummation of the Merger, that number of CVRs as is equal to the number of shares of Class A Common Stock so sold, transferred or otherwise disposed of shall thereupon automatically terminate and become null and void, and the Investor (or such wholly owned subsidiary) shall have no further rights with respect thereto.