Common use of Transfer of Capital Stock Clause in Contracts

Transfer of Capital Stock. If the FRANCHISEE is a corporation, then the shares of capital stock of the FRANCHISEE owned by the FRANCHISEE'S shareholders ("capital stock") may not be sold, pledged, assigned, traded, transferred or otherwise disposed of by the FRANCHISEE'S shareholders until the capital stock has been first offered to WCH in writing under the same terms and conditions offered to any third party. In the event the FRANCHISEE'S shareholders desire to sell, assign, trade, transfer or dispose of their shares of capital stock, the FRANCHISEE'S shareholders will first offer them to WCH in writing under the same terms and conditions as being offered to any third party. WCH will have fifteen (15) business days within which to accept any shareholder's offer to sell, assign, trade, transfer or dispose of the capital stock. Notwithstanding the terms of this Article, the FRANCHISEE'S shareholders may bequeath, sell, assign, trade or transfer their capital stock to the other shareholders of the FRANCHISEE without first offering it to WCH, provided that each proposed transferee shareholder who will be involved in the operations or management of the We Care Hair Business has successfully completed WCH'S training program and has been certified by WCH and is, in WCH'S reasonable judgment, qualified from a managerial and financial standpoint to operate the We Care Hair Business in an economic and businesslike manner. The FRANCHISEE and the FRANCHISEE'S shareholders must provide WCH with written notice of all such transactions, and the proposed transferee shareholders must agree to be personally liable under this Agreement and enter into a written agreement where they agree to perform all the terms and conditions contained in this Agreement. All shares of capital stock issued by the FRANCHISEE to its shareholders must bear the following legend: The shares of capital stock represented by this stock certificate are subject to a written Franchise Agreement which grants WCH, Inc., the right of first refusal to purchase these shares of capital stock from the shareholder. Any person acquiring the shares of capital stock represented by this stock certificate will be subject to the terms and conditions of the Franchise Agreement between the company specified on the face of this stock certificate and WCH, Inc., which includes provisions containing covenants not to compete that apply to all shareholders.

Transfer of Capital Stock. If the FRANCHISEE is a corporation, then the shares of capital stock of the FRANCHISEE owned by the FRANCHISEE'S shareholders ("capital stock") may not be sold, pledged, assigned, traded, transferred or otherwise disposed of by the FRANCHISEE'S shareholders until the capital stock has been first offered to WCH CITY LOOKS in writing under the same terms and conditions offered to any third party. In the event the FRANCHISEE'S shareholders desire to sell, assign, trade, transfer or dispose of their shares of capital stock, the FRANCHISEE'S shareholders will first offer them to WCH CITY LOOKS in writing under the same terms and conditions as being offered to any third party. WCH CITY LOOKS will have fifteen (15) business days within which to accept any shareholder's offer to sell, assign, trade, transfer or dispose of the capital stock. Notwithstanding the terms of this Article, the FRANCHISEE'S shareholders may bequeath, sell, assign, trade or transfer their capital stock to the other shareholders of the FRANCHISEE without first offering it to WCHCITY LOOKS, provided that each proposed transferee shareholder who will be involved in the operations or management of the We Care Hair Business City Looks business has successfully completed WCH'S CITY LOOKS' training program and has been certified by WCH CITY LOOKS and is, in WCH'S CITY LOOKS' reasonable judgment, qualified from a managerial and financial standpoint to operate the We Care Hair Business City Looks business in an economic and businesslike manner. The FRANCHISEE and the FRANCHISEE'S shareholders must provide WCH CITY LOOKS with written notice of all such transactions, and the proposed transferee shareholders must agree to be personally liable under this Agreement and enter into a written agreement where they agree to perform all the terms and conditions contained in this Agreement. All shares of capital stock issued by the FRANCHISEE to its shareholders must bear the following legend: The shares of capital stock represented by this stock certificate are subject to a written Franchise Agreement which grants WCHThe Barbers, Hairstyling for Men & Women, Inc., the right of first refusal to purchase these shares of capital stock from the shareholder. Any person acquiring the shares of capital stock represented by this stock certificate will be subject to the terms and conditions of the Franchise Agreement between the company specified on the face of this stock certificate and WCHThe Barbers, Hairstyling for Men & Women, Inc., which includes provisions containing covenants not to compete that apply to all shareholders.

Transfer of Capital Stock. If the FRANCHISEE is a corporation, then the shares of capital stock of the FRANCHISEE owned by the FRANCHISEE'S shareholders ("capital stock") may not be sold, pledged, assigned, traded, transferred or otherwise disposed of by the FRANCHISEE'S shareholders until the capital stock has been first offered to WCH COST CUTTERS in writing under the same terms and conditions offered to any third party. In the event the FRANCHISEE'S shareholders desire to sell, assign, trade, transfer or dispose of their shares of capital stock, the FRANCHISEE'S shareholders will first offer them to WCH COST CUTTERS in writing under the same terms and conditions as being offered to any third party. WCH COST CUTTERS will have fifteen (15) business days within which to accept any shareholder's offer to sell, assign, trade, transfer or dispose of the capital stock. Notwithstanding the terms of this Article, the FRANCHISEE'S shareholders may bequeath, sell, assign, trade or transfer their capital stock to the other shareholders of the FRANCHISEE without first offering it to WCHCOST CUTTERS, provided that each proposed transferee shareholder who will be involved in the operations or management of the We Care Hair Cost Cutters Business has successfully completed WCH'S COST CUTTERS' training program and has been certified by WCH COST CUTTERS and is, in WCH'S COST CUTTERS' reasonable judgment, qualified from a managerial and financial standpoint to operate the We Care Hair Cost Cutters Business in an economic and businesslike manner. The FRANCHISEE and the FRANCHISEE'S shareholders must provide WCH COST CUTTERS with written notice of all such transactions, and the proposed transferee shareholders must agree to be personally liable under this Agreement and enter into a written agreement where they agree to perform all the terms and conditions contained in this Agreement. All shares of capital stock issued by the FRANCHISEE to its shareholders must bear the following legend: The shares of capital stock represented by this stock certificate are subject to a written Franchise Agreement which grants WCH, Inc., the right of first refusal to purchase these shares of capital stock from the shareholder. Any person acquiring the shares of capital stock represented by this stock certificate will be subject to the terms and conditions of the Franchise Agreement between the company specified on the face of this stock certificate and WCH, Inc., which includes provisions containing covenants not to compete that apply to all shareholders.:

Transfer of Capital Stock. If the FRANCHISEE is a corporation, then the shares of capital stock of the FRANCHISEE owned by the FRANCHISEE'S shareholders ("capital stock") may not be sold, pledged, assigned, traded, transferred or otherwise disposed of by the FRANCHISEE'S shareholders until the capital stock has been first offered to WCH COST CUTTERS in writing under the same terms and conditions offered to any third party. In the event the FRANCHISEE'S shareholders desire to sell, assign, trade, transfer or dispose of their shares of capital stock, the FRANCHISEE'S shareholders will first offer them to WCH COST CUTTERS in writing under the same terms and conditions as being offered to any third party. WCH COST CUTTERS will have fifteen (15) business days within which to accept any shareholder's offer to sell, assign, trade, transfer or dispose of the capital stock. Notwithstanding the terms of this Article, the FRANCHISEE'S shareholders may bequeath, sell, assign, trade or transfer their capital stock to the other shareholders of the FRANCHISEE without first offering it to WCHCOST CUTTERS, provided that each proposed transferee shareholder who will be involved in the operations or management of the We Care Hair Cost Cutters Business has successfully completed WCH'S COST CUTTERS' training program and has been certified by WCH COST CUTTERS and is, in WCH'S COST CUTTERS' reasonable judgment, qualified from a managerial and financial standpoint to operate the We Care Hair Cost Cutters Business in an economic and businesslike manner. The FRANCHISEE and the FRANCHISEE'S shareholders must provide WCH COST CUTTERS with written notice of all such transactions, and the proposed transferee shareholders must agree to be personally liable under this Agreement and enter into a written agreement where they agree to perform all the terms and conditions contained in this Agreement. All shares of capital stock issued by the FRANCHISEE to its shareholders must bear the following legend: The shares of capital stock represented by this stock certificate are subject to a written Franchise Agreement which grants WCHCost Cutters, a division of The Barbers, Hairstyling for Men & Women, Inc., the right of first refusal to purchase these shares of capital stock from the shareholder. Any person acquiring the shares of capital stock represented by this stock certificate will be subject to the terms and conditions of the Franchise Agreement between the company specified on the face of this stock certificate and WCHCost Cutters, a division of The Barbers, Hairstyling for Men & Women, Inc., which includes provisions containing covenants not to compete that apply to all shareholders.