Common use of Necessity to Become Holder of Record Clause in Contracts

Necessity to Become Holder of Record. The Holder shall not have any rights as a member of the Company with respect to any shares of Common Stock underlying the Options until Holder shall have become the holder of record of such shares of Common Stock. No dividends or cash distributions, ordinary or extraordinary, as to any shares of Common Stock shall be paid to or provided to the Holder if the record date is prior to the date on which Hxxxxx became the holder of record of the applicable shares of Common Stock.

Necessity to Become Holder of Record. The Holder shall not have any rights as a member stockholder of the Company with respect to any shares of Common Stock underlying the Options until Holder shall have become the holder of record of such shares of Common Stock. No dividends or cash distributions, ordinary or extraordinary, as to any shares of Common Stock shall be paid to or provided to the Holder if the record date is prior to the date on which Hxxxxx Xxxxxx became the holder of record of the applicable shares of Common Stock.