Common use of Release of Transfer Restrictions Clause in Contracts

Release of Transfer Restrictions. Notwithstanding anything in this Agreement to the contrary, if Xos provides the written consent referred to under Section 4.1(a) to any other Xos Securityholder or EMV Securityholder, then the Shareholder shall thereupon be released from all of the Shareholder’s obligations pursuant to Section 4.1(a) as though such consent had been directly given in writing to the Shareholder and Xos shall immediately notify the Shareholder of the granting of such consent and all related particulars, including the scope of the granted consent.

Appears in 4 contracts

Samples: Agreement (Xos, Inc.), Up Agreement (Electrameccanica Vehicles Corp.), Agreement (Xos, Inc.)

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