Common use of Conditions to Obligation Clause in Contracts

Conditions to Obligation. The Stockholder's obligation to sell, exchange, convey or otherwise transfer the Stock under the provisions of this Section 10 is subject to the requirements that (i) the Selling Stockholder(s) shall give notice to the Stockholder of such sale, exchange, conveyance, or transfer at least 30 days prior to the proposed date of such event, specifying the price and terms upon which shares of Common Stock are to be sold, exchanged, conveyed, or transferred, and the proposed date of such event, and (ii) upon the consummation of said sale, exchange, conveyance, or transfer, the Stockholder will receive the same form and amount of consideration per share of Common Stock as received by the Selling Stockholder(s) for the same class of shares, or, if the Selling Stockholder(s) are given an option as to the form and amount of consideration to be received, the Stockholder will be given the same option.

Appears in 2 contracts

Samples: Stockholders Agreement (Sersys Acquisition Corp), Stockholders Agreement (Sersys Acquisition Corp)

AutoNDA by SimpleDocs

Conditions to Obligation. The Stockholder's Shareholder’s obligation to sell, exchange, convey or otherwise transfer the Stock Shares under the provisions of this Section 10 is subject to the requirements that (i) the Selling Stockholder(sHolder(s) shall give notice to the Stockholder Shareholder of such sale, exchange, conveyance, or transfer at least 30 15 days prior to the proposed date of such event, specifying the price and terms upon which shares of Common Stock the Shares are to be sold, exchanged, conveyed, or transferred, and the proposed date of such event, and (ii) upon the consummation of said sale, exchange, conveyance, or transfer, the Stockholder Shareholder will receive the same form and amount of consideration per share of Common Stock as received by the Selling Stockholder(sHolder(s) for the same class of shares, or, if the Selling Stockholder(sHolder(s) are given an option as to the form and amount of consideration to be received, the Stockholder Shareholder will be given the same option.

Appears in 1 contract

Samples: Restricted Stock Unit Grant Agreement (Metastorm Inc)

AutoNDA by SimpleDocs

Conditions to Obligation. The Stockholder's ’s obligation to sell, exchange, convey or otherwise transfer the Stock under the provisions of this Section 10 5 is subject to the requirements that (i) the Selling Stockholder(sHolder(s) shall give notice to the Stockholder of such sale, exchange, conveyance, or transfer at least 30 thirty (30) days prior to the proposed date of such event, specifying the price and terms upon which shares of Common Stock are to be sold, exchanged, conveyed, or transferred, and the proposed date of such event, and (ii) upon the consummation of said sale, exchange, conveyance, or transfer, the Stockholder will receive the same form and amount of consideration per share of Common Stock as received by the Selling Stockholder(sHolder(s) for the same class of shares, or, if the Selling Stockholder(sHolder(s) are given an option as to the form and amount of consideration to be received, the Stockholder will be given the same option.

Appears in 1 contract

Samples: Stock Purchase Agreement (Gene Logic Inc)

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