General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted hereby, no Stockholder shall directly or indirectly sell, assign, pledge or encumber or otherwise transfer to any person (a “Transferee”) any shares of Stock unless the Stockholder has complied with all of the terms of this Agreement. Any purported sale, assignment, pledge, encumbrance or other transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to transfer any interest or title to the purported Transferee.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted hereby, each Key Stockholder shall not directly or indirectly sell, assign, pledge, dispose, convey, gift, hypothecate, encumber or otherwise transfer (each, a “Transfer”) to any person (a “Transferee”) any share of Stock unless such Key Stockholder has complied with all of the terms of this Agreement. Any purported Transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to transfer any interest or title to the purported Transferee. Notwithstanding any other provision herein, any proposed Transfer to any person or entity whose primary business is, in the good faith judgment of the Board of Directors of the Company, directly competitive with the business of the Company, shall require the consent of the Board of Directors.
General Prohibition on Transfers; Permitted Transfers. Investor shall not directly or indirectly sell, assign, transfer, donate, pledge, mortgage, hypothecate, grant a security interest in or otherwise dispose or attempt to dispose of (a “Transfer”), to any Person (as hereinafter defined) (such Person, a “Transferee”) all or a portion of the Securities unless Investor has complied with the terms of this Section 5.7. Notwithstanding the foregoing, the restrictions contained in this Section 5.7 shall not apply to (i) any Transfer of Securities by Investor to any individual, corporation, partnership, limited liability company, association, trust, unincorporated organization or other entity (a “Person”) that is controlling, controlled by or under common control with Investor or (ii) any Transfer of Securities by Investor in connection with the “piggyback” rights contained in Section 2 of the Registration Rights Agreement (as hereinafter defined). For this purpose “control” (and correlative terms) means the power, whether by contract, equity ownership or otherwise, to direct the policies or management of a Person.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted by this Agreement, neither a Common Holder, nor any permitted transferee of such Common Holder pursuant to Section 1.1(b), shall directly or indirectly sell, assign, transfer, pledge, encumber, hypothecate, convey in trust, transfer by gift, bequest or descent, or otherwise dispose of, whether voluntarily or by operation of law (a “Transfer”), to any person or entity (a “Transferee”) any shares of Common Stock unless such Common Holder has complied with all of the terms of this Agreement. Any purported Transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to Transfer any interest or title to the purported Transferee. The Company shall not (i) transfer on its books any Common Stock that has been Transferred in violation of this Agreement or (ii) treat as the owner of such Common Stock, or accord the right to vote or pay dividends to, any such Transferee.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted hereby, Stanford and W&R shall not directly or indirectly sell, assign, pledge, dispose, convey, gift, hypothecate, encumber or otherwise transfer (each, a “Transfer”) to any person (a “Transferee”) any shares of common stock of eLandia (“Shares”) unless Stanford or W&R have complied with all of the terms of this Agreement. Any purported Transfer in violation of any provision of this Agreement shall be void and ineffective and shall not operate to transfer any interest or title to the purported Transferee.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted hereby, each Purchaser shall not directly or indirectly sell, assign, pledge or encumber or otherwise transfer to any person (a "TRANSFEREE") any shares of Series B Preferred Stock (or any shares of Common Stock received on conversion of the shares of Series B Preferred Stock) (the "STOCK") unless such Purchaser has complied with all of the terms of this Agreement. Any purported sale, assignment, pledge, encumbrance or other transfer in violation of any provision of this Agreement shall be null and void and shall not operate to transfer any interest or title to the purported Transferee.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted hereby, no Stockholder shall directly or indirectly sell, assign, pledge or encumber or otherwise transfer to any person or entity (a "Transferee") any shares of capital stock of the Company the Stockholder now owns or may hereafter acquire (the "Stock") unless such Stockholder has complied with all of the terms of this Agreement. Any purported sale, assignment, pledge, encumbrance or other transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to transfer any interest or title to the purported Transferee. No transfer that is permitted under this Section 1 may be made by any Stockholder without (i) an opinion of counsel satisfactory to the Company that such transfer may be lawfully made without registration under the Act and all applicable state securities laws, or (ii) registration under such securities laws.
General Prohibition on Transfers; Permitted Transfers. (a) No Stockholder shall, directly or indirectly, Transfer any legal or beneficial interest in any Shares owned by such Stockholder, other than as permitted under this Agreement.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted by this Agreement, no Stockholder, nor any permitted transferee of a Stockholder pursuant to Section 1.1(b), shall directly or indirectly sell, assign, transfer, pledge, encumber, hypothecate, convey in trust, transfer by gift, bequest or descent, or otherwise dispose of, whether voluntarily or by operation of law (a “Transfer”), to any person or entity (a “Transferee”) any shares of the Stock (defined below) which the Stockholder holds unless the Stockholder has complied with all of the terms of this Agreement. No Stateless Holder may Transfer any shares of Stock which such Stateless Holder holds prior to November 24, 2011. Any purported Transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to Transfer any interest or title to the purported Transferee. The Company shall not be required to (i) transfer on its books any Securities that have been Transferred in violation of this Agreement or (ii) treat as the owner of such Common Stock, or accord the right to vote or pay dividends to, any such Transferee.
General Prohibition on Transfers; Permitted Transfers. (a) Except as otherwise permitted by this Agreement, no Investor shall directly or indirectly sell, assign, transfer, pledge, encumber, hypothecate, convey in trust, transfer by gift, bequest or descent, or otherwise dispose of, whether voluntarily or by operation of law (a “Transfer”) to any person or entity (a “Transferee”) any shares of Preferred Stock, Common Stock, other capital stock of the Company or any securities convertible into, exchangeable for or exercisable for capital stock of the Company (collectively, “Stock”) unless the Investor has complied with all of the terms of this Section 4. Any purported Transfer in violation of any provision of this Agreement shall be void and ineffectual and shall not operate to Transfer any interest or title to the purported Transferee. The Company shall not be required to (i) transfer on its books any Stock that has been Transferred in violation of this Agreement or (ii) treat as the owner of such Stock, or accord the right to vote or pay dividends to, any such Transferee.
