Common use of Sale of Option Shares Clause in Contracts

Sale of Option Shares. If, subsequent to the second anniversary of the date of this Agreement, the Second Beneficiary sells or otherwise transfers any of the Option Shares (the "Transferred Shares"), the Trustee's voting power and authority shall cease with respect to such Transferred Shares, the Transferred Shares shall no longer be subject to the terms of this Agreement. The Trustee's Certificate representing the Option Shares shall be surrendered to the Trustee and a new Trustee's Certificate issued to the First Beneficiary pursuant to Section 2 above representing the Option Shares less any Transferred Shares, and the certificate representing the Trust Shares shall be cancelled and a new certificate issued in the name of the Trustee representing the Trust Shares less any Transferred Shares.

Sale of Option Shares. IfPursuant to the terms of the Purchase Agreement, if, subsequent to the second anniversary of the date of this Agreement, the Second Beneficiary sells Beneficiaries sell or otherwise transfers transfer any of the Option Shares (the "Transferred Shares"), the Trustee's voting power and authority shall cease with respect to such Transferred Shares, the Transferred Shares shall no longer be subject to the terms of this Agreement. The Trustee's Certificate representing the Option Shares shall be surrendered to the Trustee and a new Trustee's Certificate issued to the First Beneficiary pursuant to Section 2 above representing the Option Shares less any Transferred Shares, and the certificate representing the Trust Shares shall be cancelled and a new certificate issued in the name of the Trustee representing the Trust Shares less any Transferred Shares.