Common use of Lockout Period Clause in Contracts

Lockout Period. Until the Ninth Month, the Shareholders undertake not to sell, assign, transfer, grant a share to, confer to the capital of another company, promise any of the acts cited above, or in any other manner or for any reason whatsoever, transfer or pledge to transfer, or otherwise, dispose of or pledge to dispose("Transfer", being the act or effect referred to as "Transfer"), either directly or indirectly, partially or totally, their shares issued by the Company, or the rights arising from such shares, except in cases provided for in Clauses 5.6 above, 7.4, 8 and 10 below ("Lockout Period"). For the purposes of clarity, in the event of disposition of shares or Indirect holdings resulting from a previous burden, security, pledge or levy of execution, usufruct, fideicommissum or any other encumbrance, Successive Preference right, Tag Along and the Right of First Offering will be applicable on the terms of this agreement.