Common use of Termination of Company Take-Along Right Clause in Contracts

Termination of Company Take-Along Right. The Take-Along Right shall terminate as to the Shares upon the Public Trading Date of the Shares. For the purposes of this Agreement, the “Public Trading Date” of the Shares is the date on which the Shares first become freely tradable, without volume or manner-of-sale restrictions or current public information requirements, under the Securities Act, either pursuant to Rule 144 or another provision of the Securities Act, and are no longer subject to lock-up under Section 2.3 of this Agreement. The holder of the Shares may apply to have all restrictive transfer legends removed from the certificates evidencing the Shares, provided that the request for legend removal is made at such times and in such manner that removal is accomplished in compliance with the Securities Act and the rules and regulations promulgated under the Securities Act, and Section 2.3 of this Agreement; and provided further, that any proposed sale of Shares must comply with all Company policies and procedures, and with applicable federal, state and local laws.