Common use of Prohibition on Encumbrance Clause in Contracts

Prohibition on Encumbrance. No Stockholder shall pledge, hypothecate, grant a security interest in or subject to a Lien any of the shares of Common Stock held by it; provided, however, that a Stockholder may pledge, hypothecate, grant a security interest in or subject to a Lien such shares to a lender if such lender agrees in writing to be bound by the terms of this Agreement (and acknowledges that it shall not receive any of the rights granted to Stockholders under this Agreement) and such lender is not granted any voting rights with respect to Common Stock prior to foreclosure.

Prohibition on Encumbrance. No Stockholder shall pledge, hypothecate, grant a security interest in or subject to a Lien any of the shares of Common Stock held by it; provided, however, that a Stockholder may pledge, hypothecate, grant a security interest in or subject to a Lien such shares to a lender if such lender agrees Person described in writing to be bound by the terms of this Agreement clause (and acknowledges that it shall not receive any iii) of the rights granted to Stockholders under this Agreement) and such lender is not granted any voting rights with respect to Common Stock prior to foreclosuredefinition of "Permitted Transferee".

Prohibition on Encumbrance. No Stockholder shall pledge, hypothecate, grant a security interest in or subject to a Lien any of the shares of Common Stock held by it; provided, however, that a Stockholder may pledge, -------- ------- hypothecate, grant a security interest in or subject to a Lien such shares to a lender if such lender agrees Person described in writing to be bound by the terms of this Agreement clause (and acknowledges that it shall not receive any iii) of the rights granted to Stockholders under this Agreement) and such lender is not granted any voting rights with respect to Common Stock prior to foreclosuredefinition of "Permitted Transferee".