Common use of Restricted Sales Clause in Contracts

Restricted Sales. The Shareholder will, as a condition of a sale of any shares of the Company held by it, require the purchaser to agree to be bound by the terms of this Agreement provided that this condition will not apply to sales in the open market made through the facilities of The Toronto Stock Exchange or any other stock exchange or electronic trading facility on which the Company's shares are listed or quoted for trading.

Appears in 2 contracts

Sources: Share Purchase Agreement (Seven Seas Petroleum Inc), Shareholder Agreement (Seven Seas Petroleum Inc)