Common use of Covered Transaction Clause in Contracts

Covered Transaction. If holders of more than fifty percent (50%) of the outstanding Stock elect to consummate, or cause the Company to consummate, a Covered Transaction, then, upon fifteen (15) days written notice to the Grantee, the Grantee agrees to transfer in such Covered Transaction the percentage of the aggregate number of Shares held by the Grantee as of the consummation of such Covered Transaction that is equal to the aggregate percentage of shares of Stock owned by the holders of more than fifty percent (50%) of the outstanding Stock of the Company that are being transferred in such Covered Transaction, on the same terms and conditions as such holders with respect to the shares of Stock so transferred.

Covered Transaction. If holders of more than fifty percent (50%) of the outstanding Stock elect to consummate, or cause the Company to consummate, a Covered Transaction, then, upon fifteen (15) days written notice to the Grantee, the Grantee agrees to transfer in such Covered Transaction the percentage of the aggregate number of vested Shares held by (including any Shares that become vested in connection with the Grantee as of the consummation of such Covered Transaction Transaction) that is equal to the aggregate percentage of shares of Stock owned by the holders of more than fifty percent (50%) of the outstanding Stock of the Company that are being transferred in such Covered Transaction, on the same terms and conditions as such holders with respect to the shares of Stock so transferred.