Limitation on Transferability. Except as provided in Section 8 above, the interest of the Chief Executive Officer in the benefits described in this Agreement may not be sold, assigned, transferred or otherwise disposed of in any way, and any attempted sale, assignment, transfer or other disposition shall be null and void. If Chief Executive Officer attempts to sell, assign, transfer or otherwise encumber his or her rights or interest in the Agreement, other than as permitted by Section 8, such act will be treated as an election by the Chief Executive Officer to discontinue participation in the Agreement.
Limitation on Transferability. Except as provided in Section 8 above, the interest of the Chief Financial Officer in the benefits described in this Agreement may not be sold, assigned, transferred or otherwise disposed of in any way, and any attempted sale, assignment, transfer or other disposition shall be null and void. If Chief Financial Officer attempts to sell, assign, transfer or otherwise encumber his or her rights or interest in the Agreement, other than as permitted by Section 8, such act will be treated as an election by the Chief Financial Officer to discontinue participation in the Agreement.
Limitation on Transferability. Except as provided in Sections 4.5 and 4.6 above, the interest of the Executive in the benefits described in this Agreement may not be sold, assigned, transferred or otherwise disposed of in any way, and any attempted sale, assignment, transfer or other disposition shall be null and void. If the Executive attempts to sell, assign, transfer or otherwise encumber his or her rights or interest in the Agreement, other than as permitted by Sections 4.5 and 4.6, such act will be treated as an election by the Executive to cease to be covered by this Agreement.
Limitation on Transferability. No Member has, nor shall any Member ever have, the right to sell, assign, pledge, transfer or (other than by dissolution of the Company) otherwise dispose of all or any part of its interest in the Company, or to withdraw from the Company, without (a) the unanimous approval of all Members, which approval must be in writing and may be withheld by any Member in its sole and absolute discretion, and (b) in the case of any purported sale, assignment, pledge, transfer or other disposition of any interest in the Company, such sale, assignment, pledge, transfer or other distribution being made in accordance with and not in violation of the Securities Act of 1933, as amended, and all applicable securities and “blue sky” laws of all applicable jurisdictions. Any purported sale, assignment, pledge, transfer or other disposition of all or any part of an interest in the Company, or purported withdrawal from the Company, without the unanimous approval of all Members (other than a disposition by dissolution of the Company), or without compliance with the Securities Act of 1933, as amended, and all applicable securities and “blue sky” laws of all applicable jurisdictions, shall be null and void and of no force or effect.
Limitation on Transferability. It is understood and agreed that the beneficial interests herein shall be non-assignable during the term of this Agreement except by operation of law. An assignment by operation of law shall not be effective until appropriate notification and proof thereof is submitted to the Trustee, and the Trustee may continue to pay all amounts to or for the benefit of the assigning Beneficiaries until receipt of proper notification and proof of assignment by operation of law. The Trustee may rely upon such proof without the requirement of any further investigation.
Limitation on Transferability. Notwithstanding anything in this Trust Agreement to the contrary:
Limitation on Transferability. A beneficial interest in the Trust shall be non- assignable and non-transferable except upon death of the interest holder or by operation of law. An assignment or transfer shall not be effective until appropriate notification and proof thereof is submitted to the Trustee, and the Trustee may continue to pay all amounts to or for the benefit of the assigning or transferring Beneficiary until receipt of proper notification and proof of assignment or transfer. The Trustee may rely upon such proof without the requirement of any further investigation.
Limitation on Transferability. The Holder shall not assign or transfer any or all of his interest in this Note to a third party except to a member of the Holder's immediate family, a trust for which the Holder or a member of his immediate family is a principal beneficiary or a corporation or other entity in which the Holder and/or a member of his immediate family own more than a majority of the outstanding voting securities or interests.
Limitation on Transferability. It is understood and agreed that the beneficial interests in the Liquidation Trust shall be non-assignable except by death or by operation of law. An assignment by death or operation of law shall not be effective until appropriate notification and proof thereof is submitted to the Liquidation Trust Administrator by the executor or administrator of the estate of the Trust Beneficiary, in the case of the death of any individual Trust Beneficiary, or the successor to the Trust Beneficiary, in the case of any assignment by operation of law, and the Liquidation Trust Administrator may continue to pay all amounts to or for the benefit of the assigning Liquidation Trust Beneficiaries until receipt of proper notification and proof of such assignment. The Liquidation Trust Administrator may rely upon such proof without the requirement of any further investigation.
Limitation on Transferability. No Member has, nor shall any Member ever have, the right to sell, assign, pledge, transfer or (other than by dissolution of the Company) otherwise dispose of all or any part of its interest in the Company, or to withdraw from the Company, without (a) the approval of a Majority in Interest of the Members, which approval must be in writing and may be withheld by any Member in its sole and absolute discretion (except in the case of a proposed transfer to an affiliate of a Member, in which case the approval of a Majority in Interest of the Members shall not be unreasonably withheld), and (b) in the case of any purported sale, assignment, pledge, transfer or other disposition of any interest in the Company, such sale, assignment, pledge, transfer or other distribution being made in accordance with and not in violation of the Securities Act of 1933, as amended, and all applicable securities and “blue sky” laws of all applicable jurisdictions. Any purported sale, assignment, pledge, transfer or other disposition of all or any part of an interest in the Company, or purported withdrawal from the Company, without the approval of a Majority in Interest of the Members (other than a disposition by dissolution of the Company), or without compliance with the Securities Act of 1933, as amended, and all applicable securities and “blue sky” laws of all applicable jurisdictions, shall be null and void and of no force or effect.
