Transfers Include Foreclosure. For purposes of this ARTICLE TWO, a transfer of Stock by a Shareholder shall be deemed to include, but shall not be limited to, any transfer of legal or beneficial ownership by reason of foreclosure under any pledge, hypothecation or similar credit transactions (in which case the 25 day closing period contemplated by Section 2.3(e) shall be reduced to ten (10) business days).
Appears in 4 contracts
Samples: Refusal Agreement (Grand Prix Association of Long Beach Inc), Right of First Refusal Agreement (Penske Motorsports Inc), Right of First Refusal Agreement (Penske Motorsports Inc)
