Common use of Notice of Restricted Transfer Clause in Contracts

Notice of Restricted Transfer. Any Person who acquires or attempts or intends to acquire Beneficial Ownership, Constructive Ownership or beneficial ownership (determined under the principles of Section 856(a)(5) of the Code) of Shares that will or may violate Section 6.1.1(a), or any Person who held or would have owned Shares that resulted in a Transfer to the Charitable Trust pursuant to the provisions of Section 6.1.1(b), shall immediately give written notice to the Corporation of such event, or in the case of such a proposed or attempted transaction, give at least 15 days prior written notice, and shall provide to the Corporation such other information as the Corporation may request in order to determine the effect, if any, of such Transfer on the Corporation’s qualification as a REIT.

Appears in 5 contracts

Samples: Subscription Agreement (HG Holdings, Inc.), Subscription Agreement (HG Holdings, Inc.), Subscription Agreement (HG Holdings, Inc.)

AutoNDA by SimpleDocs

Notice of Restricted Transfer. Any Person who acquires or attempts or intends to acquire Beneficial Ownership, Ownership or Constructive Ownership or beneficial ownership (determined under the principles of Section 856(a)(5) shares of the Code) of Shares Capital Stock that will or may violate Section 6.1.1(a), clause (b)(i)(A)(1) of this ARTICLE SIXTH or any Person who held or would have owned Shares shares of Capital Stock that resulted in a Transfer transfer to the Charitable Trust pursuant to the provisions of Section 6.1.1(b), clause (b)(i)(B) of this ARTICLE SIXTH shall immediately give written notice to the Corporation of such eventevent or, or in the case of such a proposed or attempted transaction, give at least 15 days prior written notice, and shall provide to the Corporation such other information as the Corporation may request in order to determine the effect, if any, of such Transfer on the Corporation’s qualification as a REIT.

Appears in 1 contract

Samples: Framework Agreement (NRDC Acquisition Corp.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!