Common use of Transfer of Purchaser Stock Clause in Contracts

Transfer of Purchaser Stock. Prior to the consummation of a Qualified Public Offering, Purchaser shall not, directly or indirectly, sell, assign, pledge, offer or otherwise transfer or encumber or enter into any agreement to sell, assign, pledge, offer or transfer any interest in (a “Transfer”) any Purchaser Stock or any shares of the Company’s capital stock received by Purchaser either pursuant to any incentive plan adopted by the Company’s Board of Directors or as a result of stock splits, stock dividends, recapitalization or similar events, except pursuant to the provisions of Sections 5 or 6 hereof or pursuant to the provisions of subsections 3(b) (collectively, “Exempt Transfers”). No Transfer of any such Purchaser Stock in violation of this Section 2 shall be made or recorded on the books of the Company and any such Transfer shall be void and of no effect.