Restrictions on Encumbrances. During the lifetime of Optionee, the Optionee agrees and covenants that no Options will be pledged or otherwise encumbered in any manner, whether voluntarily or involuntarily, by operation of law or otherwise. The foregoing sentence shall not be deemed or construed, however, to prohibit any transfer otherwise allowed by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Sos Staffing Services Inc), Asset Purchase Agreement (Sos Staffing Services Inc)
Restrictions on Encumbrances. During the lifetime of Optionee, the Optionee agrees and covenants that no Options will be pledged or otherwise encumbered in any manner, whether voluntarily or involuntarily, by operation of law or otherwise. The foregoing sentence shall not be deemed or construed, however, to prohibit any transfer otherwise allowed by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Option Agreement (Franklin Covey Co), Option Agreement (Franklin Covey Co)
