Common use of Founder Transfers Clause in Contracts

Founder Transfers. Notwithstanding anything to the contrary in this Agreement, the Founders or the Founder Holding Companies may sell, assign, transfer, pledge, hypothecate, mortgage, encumber or otherwise dispose through one or a series of transactions, directly or indirectly no more than five percent (5%) of the outstanding Shares accumulatively to any party so long as the Founder collectively beneficially own more than fifty percent (50%) of the outstanding Shares following such transfer.