Common use of Lapse of Transfer Restrictions Clause in Contracts

Lapse of Transfer Restrictions. Except as provided in Section 5 below, the Transfer Restriction shall lapse following a two (2) year hold after the Applicable Vesting Date and as set forth in Section 5.3 and Section 11 below; provided that Grantee has satisfied all applicable tax withholding obligations as provided in Section 6.1 below and the conditions of Sections 6.2 through 6.4 below have been satisfied.

Lapse of Transfer Restrictions. Except as provided in Section 5 below, the Transfer Restriction transfer restrictions set forth in Section 3 above shall lapse following a two (2) year hold after on the Applicable Vesting Date and as set forth in Section 5.3 and Section 11 below; provided that Grantee has satisfied all applicable tax withholding obligations as provided in Section 6.1 below and the conditions of Sections 6.2 through 6.4 below have been satisfied.