Common use of Restriction During Life Clause in Contracts

Restriction During Life. No stockholder shall transfer or encumber any of his shares of capital stock of the Corporation during his lifetime to any person, firm or corporation, without the consent of the Corporation and the other Stockholder, unless the Stockholder desiring to make the transfer or encumber (hereinafter referred to also as the "Transferor") shall have first made the offer hereinafter described and such offer shall not have been accepted.

Restriction During Life. No stockholder shall transfer or encumber any of his his/her shares of capital stock of the Corporation Company during his his/her lifetime to any person, firm or corporationCompany, without the consent of the Corporation Company and the other Stockholder, unless the Stockholder desiring to make the transfer or encumber (hereinafter referred to also as the "Transferor") shall have first made the offer hereinafter described and such offer shall not have been accepted.