Common use of Proposed Disposition of Shares Clause in Contracts

Proposed Disposition of Shares. (1) Except as set forth in subparagraph 4 below, neither Option Holder nor any vendee, transferee, successor, assignee, donee or pledgee of any of the shares acquired hereunder nor any person or firm that acquires any interest in any of the said shares by contract or otherwise shall sell, encumber, pledge, hypothecate, give or otherwise transfer any or all of said shares or any interest therein, voluntarily, by operation of law or otherwise, without obtaining a prior written consent of NovaMed unless Option Holder or such transferee shall give notice to NovaMed of an intention to do so. The said notice shall specify the name of the proposed transferee, the number of such shares to be transferred, the price offered per share, payment terms, and any other material terms or conditions of the proposed transfer.

Proposed Disposition of Shares. (1) Except as set forth in subparagraph 4 below, neither Option Holder nor any vendee, transferee, successor, assignee, donee or pledgee of any of the shares acquired hereunder nor any person or firm that acquires any interest in any of the said shares by contract or otherwise shall sell, encumber, pledge, hypothecate, give or otherwise transfer any or all of said shares or any interest therein, voluntarily, by operation of law or otherwise, without obtaining a prior written consent of NovaMed unless Option Holder or such transferee shall give notice to NovaMed of an intention to do so. The said notice shall specify the name of the proposed transferee, the number of such shares to be transferred, the price offered per share, payment terms, and any other material terms or conditions of the proposed transfer.100

Proposed Disposition of Shares. (1) Except as set forth in subparagraph 4 below, neither Option Holder nor any vendee, transferee, successor, assignee, donee or pledgee of any of the shares acquired hereunder nor any person or firm that acquires any interest in any of the said shares by contract or otherwise shall sell, encumber, pledge, hypothecate, give or otherwise transfer any or all of said shares or any interest therein, voluntarily, by operation of law or otherwise, without obtaining a prior written consent of NovaMed unless Option Holder or such transferee shall give notice to NovaMed of an intention to do so. The said notice shall specify the name of the proposed transferee, the number of such shares to be transferred, the price offered per share, payment terms, and any other material terms or conditions of the proposed transfer.the