Encumbrance of Shares. Except as otherwise set forth in this Agreement, none of the Shareholders subject to this Agreement may sell or transfer, grant an option to sell, encumber, pledge, charge (whether fixed or floating), create a security interest in or grant, declare, create or dispose of any right or interest in or permit to exist any lien or otherwise deal with any of its Shares in the Company bound to this Agreement, without the prior written consent of the other Shareholders for the period in which this Agreement is in full force and effect.
Encumbrance of Shares. 7.1. The Parties may offer the Affected Shares as pledge or collateral, which shall only be valid and effective if the creditor expressly states in writing that it is aware of all the provisions of this Agreement and that it shall comply with all the rules set forth herein, mainly with regard to the Preemptive Right that shall always be observed. Any pledge or collateral including the Affected Shares shall be immediately communicated to the Company, which in turn shall notify all other Shareholders as to the lien.
Encumbrance of Shares. 2.14. Any Shares owned by the Shareholders may be freely encumbered, requiring no previous, express consent from the other Shareholders, provided that all (and no less than all) of the following requirements are met:
Encumbrance of Shares. The Restricted Shares owned by Employee may not be pledged, hypothecated or otherwise encumbered during the Escrow Period (as defined below) without the prior express written consent of the Company, which may be withheld for any reason or without reason. If Employee encumbers the Restricted Shares in violation of the foregoing, then the Company shall have an additional right to repurchase the encumbered shares at the price set forth in Paragraph 5. Such right may be exercised by giving written notice to Employee. The repurchase shall be effective upon such notice and all rights of Employee as a shareholder of the Company shall cease at such time. The closing shall be in accordance with the terms in Paragraph 6.
Encumbrance of Shares. The Shareholders agree not to constitute Encumbrance on the Attached Shares, except for usufruct and the incommunicability and impossibility to levy execution clauses, as applicable, disposed of by donation or will, and shall also abstain from executing agreements or other commitments providing for the Transfer of Attached Shares, unless, in each case, previously approved in writing by the Shareholders and, even if approved, the beneficiary or counterparty, before the effectiveness of this Encumbrance or execution of the commitment, undertakes, in writing, to comply with the terms and conditions provided for in this Agreement. The creation of any Encumbrance in breach of the provisions of this Agreement shall be null and void and shall not be recognized or caused to take effect by the Shareholders and the Company and shall be understood as in breach of this Agreement.
Encumbrance of Shares. The Parties may not in any way voluntarily encumber their Bound Shares and the subscription rights inherent to them.
Encumbrance of Shares. Each Parent Stockholder agrees that from the date of this Agreement until the termination of this Agreement pursuant to Section 5.01, it shall not (i) grant a proxy or power of attorney or otherwise limit any of such Parent Stockholder's voting rights with respect to the Parent Shares (or agree or consent to, or offer to do, any of the foregoing), (ii) take any action that would make any representation or warranty of any Parent Stockholder herein untrue or incorrect in any material respect or have the effect of preventing or disabling any Parent Stockholder from performing its obligations or (iii) directly or indirectly, initiate, solicit or encourage any person or entity to take actions that could reasonably be expected to lead to the occurrence of any of the foregoing.
Encumbrance of Shares. Each Shareholder must not create or permit the creation of any Encumbrance over all or any of its Interest unless:
Encumbrance of Shares a Shareholder encumbers, or purports to encumber, any Shares in breach of the Constitution or this Agreement;
Encumbrance of Shares. Each of the Stockholders covenants --------------------- and agrees that from the date of this Agreement to the Closing Date, the Shares owned by such Stockholder (including Shares acquired upon exercise of options prior to the Closing Date) shall continue to be owned beneficially and of record by such Stockholder (subject to purchase of Shares by the Buyer on the Closing Date), free and clear of all Encumbrances.
