Permitted Exemptions. The participation rights of the Holder shall not apply to any bona fide gift; provided that a Shareholder shall inform the Holder of such gift prior to effecting it and the donee shall furnish the Holder with a written agreement to be bound by, and comply with, all provisions of this Agreement applicable to such Shareholder.
Appears in 2 contracts
Sources: Co Sale Agreement (Nde Environmental Corp), Note, Preferred Stock and Warrant Purchase Agreement (Tanknology Nde International Inc)