Common use of Wrongful Transfer Clause in Contracts

Wrongful Transfer. Subject to Sections 2.1 and 2.2 hereof, no sale, pledge, hypothecation, transfer, encumbrance, assignment, gift or other disposition by a Shareholder of any of his Shares shall be effective, unless and until: (i) he has first complied with all the provisions of this Agreement, and (ii) such transferee shall take such Shares subject to the terms of this Agreement, shall agree in writing to become a party to this Agreement and to be bound by all of the terms, conditions and provisions hereof. If a Shareholder fails to comply with this Agreement, the Corporation shall have the right to compel such Shareholder or any transferee to transfer and deliver its Shares in accordance with the provisions of this Agreement.

Wrongful Transfer. Subject to Sections 2.1 and 2.2 hereof2.1, no sale, pledge, hypothecation, transfer, encumbrance, assignment, gift or other disposition by a Non-Voting Shareholder of any of his Shares shall be effective, unless and until: (i) he has first complied with all the provisions of this Agreement, and (ii) such transferee shall take such Shares subject to the terms of this Agreement, shall agree in writing to become a party to this Agreement and to be bound by all of the terms, conditions and provisions hereof. If a Non-Voting Shareholder fails to comply with this Agreement, the Voting Shareholders and/or the Corporation shall have the right to compel such Non-Voting Shareholder or any transferee to transfer and deliver his or its Shares in accordance with the provisions of this Agreement.

Wrongful Transfer. Subject to Sections the terms of Section 2.1 and 2.2 hereof, no sale, pledge, hypothecation, transfer, encumbrance, assignment, gift or other disposition by a Shareholder of any of his Shares shall be effective, unless and until: (i) he has first complied with all the provisions of this Agreement, and (ii) such transferee shall take such Shares subject to the terms of this Agreement, shall agree in writing to become a party to this Agreement and to be bound by all of the terms, conditions and provisions hereof. If a Shareholder fails to comply with this Agreement, the Corporation Remaining Shareholders shall have the right to compel such Shareholder or any transferee to transfer and deliver its Shares in accordance with the provisions of this Agreement.. ARTICLE 3

Wrongful Transfer. Subject to Sections 2.1 and 2.2 hereof, no sale, ----------------- pledge, hypothecation, transfer, encumbrance, assignment, gift or other disposition by a Shareholder of any of his Shares shall be effective, unless and until: (i) he has first complied with all the provisions of this Agreement, and (ii) such his transferee shall take such Shares subject to the terms of this Agreement, and shall agree in writing to become a party to this Agreement as a Shareholder and to be bound by all of the terms, conditions and provisions hereof. If a Shareholder fails to comply with this Agreement, the Corporation shall have the right to compel such Shareholder or any transferee to transfer and deliver its his Shares in accordance with the provisions of this Agreement.