Common use of Permitted Family Transfer Clause in Contracts

Permitted Family Transfer. Nothing contained herein will be deemed to prevent Shareholder from effecting a transfer to,. or for the benefit of, a Shareholder’s spouse, lineal descendant, or ancestor, or a trust established solely for the benefit of one or more of the foregoing. Shareholder will give the Company notice in writing at least 30 days before effecting such transfer, setting forth the name of the proposed transferee, the relationship of such transferee to the Shareholder, and the number of Shares to be given to such transferee. Any transfer of Shares under this provision will be subject to the transferee agreeing in writing to be bound by the terms and conditions of this Agreement.

Permitted Family Transfer. Nothing contained herein will be deemed to prevent Shareholder from effecting a transfer to,. , or for the benefit of, a Shareholder’s spouse, lineal descendant, or ancestor, or a trust established solely for the benefit of one or more of the foregoing. Shareholder will give the Company notice in writing at least 30 days before effecting such transfer, setting forth the name of the proposed transferee, the relationship of such transferee to the Shareholder, and the number of Shares to be given transferred to such transferee. Any transfer of Shares under this provision will be subject to the transferee agreeing in writing to be bound by all of the terms and conditions of this Agreement, including the provisions of Sections 2, 3 and 4.