prohibited period

[Brahma11]

Пожалуйста, помогите перевести.
company was not in a prohibited period.

Выражение встречается в следующем контексте:
Where the exercise or conversion is permitted pursuant to paragraph 14, clearance may not be given for the sale of the securities of the company acquired pursuant to such exercise or conversion including the sale of sufficient securities of the company to fund the costs of the exercise or conversion and/or any tax liability arising from the exercise or conversion unless a binding undertaking to do so was entered into when the
Заранее спасибо