Common use of Exempt Transactions Clause in Contracts

Exempt Transactions. The following transactions shall be exempt from the provisions of this Section 2: (i) the Shareholder’s transfer of any or all of the Shareholder’s Shares, either during the Shareholder’s lifetime or on death by will or the laws of descent and distribution, to one or more members of the Shareholder’s immediate family, to a trust for the exclusive benefit of the Shareholder or such immediate family members, to any other entity owned exclusively by the Shareholder or such immediate family members, or to any combination thereof (each, a “Permitted Transferee”); provided, however, that no transfers made pursuant to any divorce or separation proceedings or settlements shall be exempt from this Section 2. “Immediate family” shall mean spouse, children, grandchildren, parents or siblings of the Shareholder, including in each case adoptive relations; or

Exempt Transactions. The following transactions shall be exempt from the provisions of this Section 2: (i) the ShareholderStockholder’s transfer of any or all of the ShareholderStockholder’s Shares, either during the ShareholderStockholder’s lifetime or on death by will or the laws of descent and distribution, to one or more members of the ShareholderStockholder’s immediate family, to a trust for the exclusive benefit of the Shareholder Stockholder or such immediate family members, to any other entity owned exclusively by the Shareholder Stockholder or such immediate family members, or to any combination thereof (each, a “Permitted Transferee”); provided, however, that no transfers made pursuant to any divorce or separation proceedings or settlements shall be exempt from this Section 2. “Immediate family” shall mean spousespouse (including, without limitation, any domestic partner or partner by virtue of same-sex marriage and/or civil union), children, grandchildren, parents or siblings of the ShareholderStockholder, including in each case adoptive relations; or