Non Transferability of the Shares. Executive shall not assign or transfer any Shares while such Shares remain forfeitable, other than by will or the laws of descent and distribution. Notwithstanding the foregoing, however, Executive, with the approval of the Compensation Committee, may transfer such Shares for no consideration to or for the benefit of Executive’s Immediate Family (including, without limitation, to a trust for the benefit of Executive’s Immediate Family or to a partnership or limited liability company for one or more members of Executive’s Immediate Family), subject to such limits as the Compensation Committee may establish, and the transferee(s) shall remain subject to all the terms and conditions applicable to the Shares prior to transfer (including, without limitation, the provisions regarding vesting and forfeiture.). The term “Immediate Family” means Executive’s spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers and grandchildren (and, for this purpose, shall also include Executive). No right or interest of Executive or any transferee in the Shares shall be subject to any lien or any obligation or liability of the Executive or any transferee.
Non Transferability of the Shares. 6.1 En tanto subsista la Prenda, el Pignorante se obliga a no vender las Acciones de la Sociedad, ni transmitirlas, ni cederlas, ni canjearlas, ni gravarlas, ni disponer de ellas de cualquier otra manera, ni constituir ningún derecho de opción o restricción a su libre transmisibilidad en caso de ejecución de la Prenda, salvo que se encuentre permitido de acuerdo con los Documentos de la Financiación y con sujeción a los términos y condiciones establecidos en los mismos, o salvo que sea expresa y previamente autorizado por escrito por las Partes Garantizadas. 6.1 During the term of this Pledge, the Pledgor undertakes not to sell, nor transfer, nor assign, nor substitute, nor encumber, nor charge or in any manner dispose of the Company Shares nor to create any option right or restriction on their free transferability in the event of enforcement of the Pledge, unless it allowed under the Loan Documents and subject to the terms and conditions contained therein, or it is previously authorised in writing by the Secured Parties.
Non Transferability of the Shares
