Common use of Unpermitted Transfers Clause in Contracts

Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Stock held by the Stockholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedings, thereby causing the Stockholder to be unable to comply with its obligations under this Agreement with respect to such securities, the Stockholder shall not be deemed to be in breach of this Agreement with respect to the Stockholder’s obligations with respect to such Parent Stock.

Appears in 4 contracts

Samples: Voting Agreement (Parkway Properties Inc), Voting Agreement (Thomas Properties Group Inc), Voting Agreement (Parkway Properties Inc)

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Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Company Stock or the Company Units held by the a Stockholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedings, thereby causing the such Stockholder to be unable to comply with his, her or its obligations under this Agreement with respect to such securities, the such Stockholder shall not be deemed to be in breach of this Agreement with respect to the such Stockholder’s obligations with respect to such Parent StockCompany Stock or Company Units.

Appears in 3 contracts

Samples: Voting Agreement (Parkway Properties Inc), Voting Agreement (Thomas Properties Group Inc), Voting Agreement (Parkway Properties Inc)

Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Stock Subject Securities held by the a Stockholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedingsproceedings (other than in an attempt to evade the provisions of this Agreement), thereby causing the such Stockholder to be unable to comply with its obligations under this Agreement with respect to such securities, the such Stockholder shall not be deemed to be in breach of this Agreement with respect to the such Stockholder’s obligations with respect to such Parent Parkway Stock.

Appears in 3 contracts

Samples: Voting Agreement (TPG Group Holdings (SBS) Advisors, Inc.), Stockholders Agreement (Parkway Properties Inc), Stockholders Agreement (Cousins Properties Inc)

Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Stock Common Shares or the Parent Units held by the Stockholder Shareholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedings, thereby causing the Stockholder Shareholder to be unable to comply with its [his][her] obligations under this Agreement with respect to such securities, the Stockholder Shareholder shall not be deemed to be in breach of this Agreement with respect to the StockholderShareholder’s obligations with respect to such Parent StockCommon Shares or Parent Units.

Appears in 2 contracts

Samples: Form of Voting Agreement (RLJ Lodging Trust), Form of Voting Agreement (RLJ Lodging Trust)

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Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Stock Subject Securities held by the a Stockholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedingsproceedings (other than in an attempt to evade the provisions of this Agreement), thereby causing the such Stockholder to be unable to comply with its obligations under this Agreement with respect to -3- such securities, the such Stockholder shall not be deemed to be in breach of this Agreement with respect to the such Stockholder’s obligations with respect to such Parent Parkway Stock.

Appears in 1 contract

Samples: Voting Agreement

Unpermitted Transfers. Any Transfer or attempted Transfer of any Subject Securities in violation of this Section 2 shall, to the fullest extent permitted by Law, be null and void ab initio. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, to the extent any of the Parent Company Common Stock or the Company Units held by the Stockholder subject to any Lien (as set forth on Schedule A hereto) become subject to foreclosure, forfeiture or other similar proceedings, thereby causing the Stockholder to be unable to comply with its [his][her] obligations under this Agreement with respect to such securities, the Stockholder shall not be deemed to be in breach of this Agreement with respect to the Stockholder’s obligations with respect to such Parent StockCompany Common Stock or Company Units.

Appears in 1 contract

Samples: Form of Voting Agreement (FelCor Lodging Trust Inc)

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