Common use of Subsequent Transferees Clause in Contracts

Subsequent Transferees. The restrictions, including but not limited to the Rights of First Refusal, Co-Sale Rights, Drag-Along Rights and all other transfer, repurchase and/or other restrictions contained in the Stockholders Agreement and the Repurchase Right described in this Section 10 shall apply to any shares held by a transferee or transferees (collectively, the “Transferee”), which shares were issued to the Participant pursuant to the Plan and subsequently transferred to the Transferee. The Corporation shall be under no obligation to transfer or issue shares to such Transferee, and such Transferee shall have no rights with respect to any such shares, until the Transferee has agreed to be subject to the terms and conditions of the Plan (including but not limited to the provisions of Section 13 therein), this Agreement, the Stockholders Agreement and any other applicable agreements. Any transfer or purported transfer made by a purchaser of shares under the Plan, except at the times and in the manner herein specified, will be null and void and the Corporation shall not recognize or give effect to such transfer on its books and records or recognize the person or persons to whom such proposed transfer has been made as the legal or beneficial holder of those shares.