Common use of Recognition of Transferees Clause in Contracts

Recognition of Transferees. The Company shall not (i) transfer on its books any shares of Stock, Preferred Stock or Conversion Stock that shall have been sold or transferred in violation of any of the provisions set forth in this Agreement or (ii) treat as owner of such shares or accord the right to vote as such owner or pay dividends to any transferee to whom such shares shall have been so transferred.

Recognition of Transferees. The Company shall will not (i) transfer on its books any shares of Stock, Preferred Stock or Conversion Stock Shares that shall will have been sold or transferred Transferred in violation of any of the provisions set forth in this Agreement or (ii) treat as owner of such shares or accord the right to vote as such owner or pay dividends to any transferee to whom such shares shall will have been so transferredTransferred.