Common use of TRANSFER WITHIN ESCROW Clause in Contracts

TRANSFER WITHIN ESCROW. (a) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange. (b) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received (i) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and (ii) a letter from the Superintendent or the Exchange consenting to the transfer. (c) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares. (d) In the event the Shareholder ceases to be a principal or a promoter of the Issuer, he shall be entitled to retain all of the Shares and shall not be obligated to sell, transfer or otherwise assign the Shares to anyone.

TRANSFER WITHIN ESCROW. (a1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or of the Exchange. (b2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received (ia) a copy of an Acknowledgement Acknowledgment executed by the person to whom the Shares are to be transferred, and (iib) a letter from the Superintendent or the Exchange consenting to the transfer. (c3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares. (d4) In the event the that a Shareholder (a) ceases to be a principal or a promoter of the Issuer, he shall be entitled to retain all as that term is defined in Local Policy Statement 3-07, the directors of the Shares and shall not be obligated Issuer have the express right to sell, decide whether the Shareholder may retain or must transfer or otherwise assign surrender any Shares, subject to the Shares to anyone.terms and conditions of Local Policy Statement 3-07; or

TRANSFER WITHIN ESCROW. (a) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange. (b) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received (i) a copy of an Acknowledgement Acknowledgment executed by the person to whom the Shares are to be transferred, and (ii) a letter from the Superintendent or the Exchange consenting to the transfer. (c) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares. (d) In the event the Shareholder ceases to be a principal or a promoter of the Issuer, he shall be entitled to retain all of the Shares and shall not be obligated to sell, transfer or otherwise assign the Shares to anyone.