Common use of Sales to Competitors Clause in Contracts

Sales to Competitors. Each Stockholder and Investor hereby agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors as of the date of the proposed Transfer (provided that the foregoing shall not restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investor). The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenants.

Appears in 2 contracts

Samples: Series F Preferred Stock Purchase Agreement (GlassHouse Technologies Inc), Series F Preferred Stock Purchase Agreement (GlassHouse Technologies Inc)

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Sales to Competitors. Each Except as contemplated by Section 2.6, each Restricted Stockholder and Investor hereby agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors as of the date of the proposed Transfer (provided that the foregoing shall not restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investorcompetitors). The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenants.

Appears in 1 contract

Samples: Stockholders Agreement (First Mercury Financial Corp)

Sales to Competitors. Each Stockholder and Investor hereby agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors as of the date of the proposed Transfer (provided that the foregoing shall not restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investor). The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenants.” Section 3.1 of the Stockholders Agreement is hereby deleted and replaced in its entirety as follows:

Appears in 1 contract

Samples: Omnibus Amendment, Admission, Consent and Waiver Agreement

Sales to Competitors. Each Stockholder and Investor hereby agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors as of the date of the proposed Transfer (provided that the foregoing shall not restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investorcompetitors). The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenants.

Appears in 1 contract

Samples: Stockholders Agreement (GlassHouse Technologies Inc)

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Sales to Competitors. Each Stockholder and Investor hereby agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors as of the date of the proposed Transfer (provided that the foregoing shall not restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investor). The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenants.” 12. Section 3.1 of the Stockholders Agreement is hereby deleted and replaced in its entirety as follows:

Appears in 1 contract

Samples: Omnibus Amendment, Admission, Consent and Waiver Agreement (GlassHouse Technologies Inc)

Sales to Competitors. Each Stockholder and Investor hereby ----------- -------------------- agrees not to directly or indirectly Transfer any shares of Common Stock or other securities of the Company or options in respect to any thereof to any Person whose activities, products or services are competitive with activities, products or services of the Company as reasonably determined by the Board of Directors Directors, as of the date of the proposed Transfer (provided Transfer; provided, that the foregoing shall not -------- restrict (i) public sales registered under the Securities Act or pursuant to Rule 144 thereunder unless the relevant Transferor transferor has knowledge that the buyer or buyers are such competitors or (ii) Transfers of an Investor to an Affiliate of such Investor)competitors. The Company may impose stop transfer instructions with its transfer agent in order to enforce the foregoing covenantscovenant.

Appears in 1 contract

Samples: Stockholders and Rights Agreement (Click Commerce Inc)

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