Common use of Rights to Lien Clause in Contracts

Rights to Lien. 12 (1) The Company shall have a first and paramount lien for calls and instalments which are due and unpaid and interest thereon and expenses incurred in relation thereto upon the specific shares registered in the name of each member (whether solely or jointly with others) and such lien shall extend to all dividends from time to time declared in respect of such shares. 12 (2) The Directors may at any time declare any share to be wholly or in part exempt from the provisions of Article 12 (1). 12 (3) Unless otherwise agreed or the Company first gives notice of the claim to the transferee, the registration of a transfer of shares shall operate as a waiver of the Company’s lien (if any) on such shares.

Rights to Lien. 12 (112(1) The Company shall have a first and paramount lien for calls and instalments which are due and unpaid and interest thereon and expenses incurred in relation thereto upon the specific shares registered in the name of each member (whether solely or jointly with others) and such lien shall extend to all dividends from time to time declared in respect of such shares. 12 (212(2) The Directors may at any time declare any share to be wholly or in part exempt from the provisions of Article 12 (1). 12 (312(3) Unless otherwise agreed or the Company first gives notice of the claim to the transferee, the registration of a transfer of shares shall operate as a waiver of the Company’s lien (if any) on such shares.

Rights to Lien. 12 (112(1) The Yhe Company shall have a first and paramount lien for calls and instalments which are due and unpaid and interest thereon and expenses incurred in relation thereto upon the specific shares registered in the name of each member (whether solely or jointly with others) and such lien shall extend to all dividends from time to time declared in respect of such shares. 12 (212(2) The Yhe Directors may at any time declare any share to be wholly or in part exempt from the provisions of Article 12 (1). 12 (312(3) Unless otherwise agreed or the Company first gives notice of the claim to the transferee, the registration of a transfer of shares shall operate as a waiver of the Company’s lien (if any) on such shares.