Common use of Additional Transfer Provisions Clause in Contracts

Additional Transfer Provisions. The stock certificate or certificates that the Participant delivers to the Company pursuant to Section 6.3 shall be transferred to the prospective purchaser in consummation of the sale of the Series Preferred or Common Stock pursuant to the terms and conditions specified in the Notice, and the Section 6 Selling Purchaser(s) shall concurrently therewith remit to such Participant that portion of the sale proceeds to which such Participant is entitled by reason of its participation in such sale. To the extent that any prospective purchaser or purchasers prohibits such assignment or otherwise refuses to purchase shares or other securities from a Participant exercising its rights of co-sale hereunder, such Section 6 Selling Purchaser(s) shall not sell to such prospective purchaser or purchasers any Co-Sale Stock unless and until, simultaneously with such sale, such Section 6 Selling Purchaser(s) shall purchase such shares or other securities from such Participant on the same terms and conditions specified in the Notice.

Appears in 3 contracts

Samples: Purchasers Rights Agreement (Birch Telecom Inc /Mo), Purchasers Rights Agreement (Birch Telecom Inc /Mo), Purchasers Rights Agreement (Birch Telecom Inc /Mo)

AutoNDA by SimpleDocs

Additional Transfer Provisions. The stock certificate or certificates that the Participant delivers to the Company pursuant to Section 6.3 shall be transferred Transferred to the prospective purchaser in consummation of the sale of the Series Preferred or Common Stock pursuant to the terms and conditions specified in the Notice, and the Section 6 Selling Purchaser(s) shall concurrently therewith remit to such Participant that portion of the sale proceeds to which such Participant is entitled by reason of its participation in such sale. To the extent that any prospective purchaser or purchasers prohibits such assignment Transfer or otherwise refuses to purchase shares or other securities from a Participant exercising its rights of co-sale hereunder, such Section 6 Selling Purchaser(s) shall not sell to such prospective purchaser or purchasers any Co-Sale Stock unless and until, simultaneously with such sale, such Section 6 Selling Purchaser(s) shall purchase such shares or other securities from such Participant on the same terms and conditions specified in the Notice.

Appears in 1 contract

Samples: Purchasers Rights Agreement (Birch Telecom Inc /Mo)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.