Common use of Marital Dissolution or Legal Separation Clause in Contracts

Marital Dissolution or Legal Separation. (a) Notwithstanding anything in this Agreement to the contrary, in connection with the dissolution of the Purchaser’s marriage or the legal separation of the Purchaser and the Purchaser’s spouse, the Company shall have the right (the “Special Purchase Right”), if applicable, to purchase from the Purchaser’s spouse, in accordance with the provisions of this Section 5, all or any portion of the Shares which would otherwise be awarded to such spouse in settlement of any community property or other marital property rights such spouse may have in such shares.

Appears in 3 contracts

Samples: Restricted Stock Purchase Agreement (GTX Inc /De/), Restricted Stock Purchase Agreement (GTX Inc /De/), Restricted Stock Purchase Agreement (GTX Inc /De/)

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Marital Dissolution or Legal Separation. (a) Notwithstanding anything in this Agreement to the contrary, in connection with the dissolution of the Purchaser’s marriage or the legal separation of the Purchaser and the Purchaser’s spouse, the Company shall have the right (the “Special Purchase Right”), if applicable, to purchase from the Purchaser’s spouse, in accordance with the provisions of this Section 56, all or any portion of the Shares which would otherwise be awarded to such spouse in settlement of any community property or other marital property rights such spouse may have in such shares.

Appears in 1 contract

Samples: Restricted Stock Purchase Agreement (GTX Inc /De/)

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