Common use of Restrictions on Transfers by Institutional Shareholders Clause in Contracts

Restrictions on Transfers by Institutional Shareholders. (a) Except as provided in Section 3.03, each Institutional Shareholder and each Permitted Transferee of such Institutional Shareholder may transfer its Common Stock only as follows: (i) in a transfer made in compliance with Section 4.01 or 4.02; (ii) in a Public Offering in connection with the exercise of its rights under Article 5 hereof; or (iii) following the earlier to occur of (i) the date on which the Percentage Ownership of such Institutional Shareholder is less than 25% of its Initial Ownership of Common Stock and (ii) the seventh anniversary of the Closing Date, to any Person other than any Adverse Person. (b) The restrictions set forth in Section 3.04(a)(i) and (a)(ii) shall terminate at such time as aggregate Percentage Ownership of the DLJ Entities and their Permitted Transferees is equal to or less than 50% of the aggregate Initial Ownership of Common Stock of DLJ Entities.

Restrictions on Transfers by Institutional Shareholders. (a) Except as provided in Section 3.033.3, each Institutional Shareholder and each Permitted Transferee of such Institutional Shareholder may transfer its Common Stock only as follows: (i) in a transfer made in compliance with Section 4.01 4.1 or 4.024.2; (ii) in a Public Offering in connection with the exercise of its rights under Article 5 hereof; or (iii) following the earlier to occur of (i) the date on which the Percentage Ownership of such Institutional Shareholder is less than 25% of its Initial Ownership of Common Stock and (ii) the seventh anniversary of the Closing Date, to any Person other than any Adverse Person. (b) The restrictions set forth in Section 3.04(a)(i3.4(a)(i) and (a)(ii) shall terminate at such time as aggregate Percentage Ownership of the DLJ Entities and their Permitted Transferees is equal to or less than 50% of the aggregate Initial Ownership of Common Stock of DLJ Entities.