Common use of Transfer of Additional Optioned Shares Clause in Contracts

Transfer of Additional Optioned Shares. The Optionor covenants and agrees with the Optionee that it shall take all action necessary to authorize and effect the transfer of the Additional Optioned Shares from the Securityholders to the Optionee upon exercise of the Additional Option, and that it shall not at any time take any action which has the effect of frustrating the grant and the timely exercise of the Additional Option and the transfer of the Additional Optioned shares hereunder. To the knowledge of the Optionor, the transfer of the Additional Optioned Shares hereunder will not violate any Applicable Law, the constating documents of the Optionor or any contractual obligations of the Optionor.

Transfer of Additional Optioned Shares. The Optionor Securityholder covenants and agrees with the Optionee and the Optionor that it shall take all reasonable action necessary to authorize and effect the transfer of the Additional Optioned Shares from the Securityholders Securityholder to the Optionee upon exercise of the Additional Option, and that it shall not at any time take any action with the intent which has the effect of frustrating the grant and the timely exercise of the Additional Option and the transfer of the Additional Optioned shares hereunder. To the knowledge of the OptionorSecurityholder, the transfer of the Additional Optioned Shares hereunder will not violate any Applicable Law, the constating documents documents, if any, of the Optionor Securityholder or any contractual obligations of the OptionorSecurityholder.