Common use of Transfers Void Clause in Contracts

Transfers Void. Any attempted Transfer in violation of the terms of this Section 3 shall be ineffective to vest in any transferee any interest held by the Transferring Stockholder in the Sale Shares. Without limiting the foregoing, any purported Shares Transfer in violation hereof shall be ineffective as against the Corporation and the Founders, and the Series D Investors, if appropriate, and the Corporation and the Founders, and the Series D Investors, if appropriate, shall have a continuing right and option (but not an obligation), until the restrictions contained in this Section 3 terminate, to purchase the Sale Shares purported to be transferred by the Transferring Stockholders for a price and on terms the same as those at which the purported Shares Transfer was effected.

Appears in 3 contracts

Samples: Joinder Agreement (Onconova Therapeutics, Inc.), Joinder Agreement (Onconova Therapeutics, Inc.), Joinder Agreement (Onconova Therapeutics, Inc.)

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Transfers Void. Any attempted Transfer transfer in violation of the terms of this Section 3 shall be ineffective to vest in any transferee any interest held by the Transferring Stockholder in the Sale Shares. Without limiting the foregoing, any purported Shares Transfer in violation hereof shall be ineffective as against the Corporation Company and the Founders, and the Series D Investors, if appropriate, Company and the Corporation and the Founders, and the Series D Investors, if appropriate, Founders shall have a continuing right and option (but not an obligation), until the restrictions contained in this Section 3 terminate, to purchase the Sale Shares shares purported to be transferred by the Transferring Stockholders for a price and on terms the same as those at which the purported Shares Transfer was effected.

Appears in 1 contract

Samples: Stockholders' Agreement (Micrus Corp)

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