Encumbrances on Shares. Purchaser may xxxxx x xxxx or security interest in, or pledge, hypothecate or encumber Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (a) such lien, security interest, pledge, hypothecation or encumbrance will not apply to such Shares after they are acquired by the Company and/or its assignees under this Section; and (b) the provisions of this Section will continue to apply to such Shares in the hands of such party and any transferee of such party.
Encumbrances on Shares. Purchaser may not xxxxx x xxxx or security interest in, or pledge, hypothecate or encumber, any Unvested Shares.
Encumbrances on Shares. Purchaser may gxxxx x xxxx or security interest in, or pledge, hypothecate or encumber Vested Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (a) such lien, security interest, pledge, hypothecation or encumbrance will not apply to such Vested Shares after they are acquired by the Company and/or its assignees under this Section 9; and (b) the provisions of this Section 9 will continue to apply to such Vested Shares in the hands of such party and any transferee of such party. Purchaser may not gxxxx x xxxx or security interest in, or pledge, hypothecate or encumber, any Unvested Shares.
Encumbrances on Shares. Optionee may gxxxx x xxxx or security interest in, or pledge, hypothecate or encumber Shares only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge, hypothecation or encumbrance will not adversely affect or impair the Right of First Refusal or the rights of the Company and/or its assignee(s) with respect thereto and will not apply to such Shares after they are acquired by the Company and/or its assignees under this Section; and (ii) the provisions of this Agreement will continue to apply to such Shares in the hands of such party and any transferee of such party.
Encumbrances on Shares. Without the Company’s prior written consent given with the approval of the Company’s Board of Directors, Purchaser may not gxxxx x xxxx or security interest in, or pledge, hypothecate or encumber, any Unvested Shares.
Encumbrances on Shares. Purchaser may xxxxx x xxxx or security ----------------------- interest in, or pledge, hypothecate or encumber Vested Shares only if the Company or its successors and assigns do not hold a lien or security interest in such shares and only if each party to whom such lien or security interest is granted, or to whom such pledge, hypothecation or other encumbrance is made, agrees in a writing satisfactory to the Company that: (i) such lien, security interest, pledge, hypothecation or encumbrance will not apply to such Vested Shares after they are acquired by the Company and/or its assignees under this Section; and (ii) the provisions of this Section will continue to apply to such Vested Shares in the hands of such party and any transferee of such party. Purchaser may not xxxxx x xxxx or security interest in, or pledge, hypothecate or encumber any Unvested Shares.
Encumbrances on Shares. Purchaser shall be prohibited from granting any Lien upon the Shares until the Note is paid in full.
Encumbrances on Shares. Without the Company’s prior written consent given with the approval of the Company’s Board of Directors, Awardee may not xxxxx x xxxx or security interest in, or pledge, hypothecate or encumber, any Shares.
Encumbrances on Shares. The Seller shall have delivered to the Buyer evidence of the release of all Encumbrances affecting the Shares, in a form satisfactory to the Buyer.
Encumbrances on Shares. It is acknowledged and agreed that the Optioned Stock is subject to a voting trust under that certain Voting Trust Agreement dated October 15, 1986 by and between Love, the Optionee and Xxxxxx X. Xxxxxxxxxx, as amended on November 7, 1994 (as so amended and as amended from time to time, the "Trust Agreement"), and that the Shares as to which the Option shall be exercised shall remain subject to such voting trust in accordance with the terms of the Trust Agreement. To the extent that the Optioned Stock is subject to any lien, encumbrance or security interest as of the Grant Date (each, a "Prior Security Interest"), the Optionee shall have the right, but not the obligation, in the event of any payment default by Love or other event giving rise to the right of any holder of the relevant Prior Security Interest to foreclose on the Optioned Stock (each such payment default or other event, a
