Common use of Obligations of Transferees Clause in Contracts

Obligations of Transferees. Unless this Agreement expressly provides otherwise, each transferee and any subsequent transferee of the shares of this Corporation, or of any interest in those shares, shall hold the shares or interest subject to the provisions of this Agreement and shall make no transfers except as provided in this Agreement. The Secretary of the Corporation shall record these transfers on the books of the Corporation until an amended copy of this Agreement has been executed by the transferee. The transferee's failure or refusal to sign an amended copy of this Agreement does not relieve the transferee of any obligation or restriction under this Agreement.

Obligations of Transferees. 3.7. Unless this Agreement expressly provides otherwise, each transferee and any subsequent transferee of the shares of this Corporation, or of any interest in those shares, shall hold the shares or interest subject to the provisions of this Agreement and shall make no transfers except as provided in this Agreement. The Secretary of the Corporation shall record these transfers on the books of the Corporation until an amended copy of this Agreement has been executed by the transferee. The transferee's failure or refusal to sign an amended copy of this Agreement does not relieve the transferee of any obligation or restriction under this Agreement.