Common use of Prohibition on Transfer Clause in Contracts

Prohibition on Transfer. Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting requirement and all other terms and conditions of this Award Agreement. In the case of Participant’s death or Disability, Participant’s vested rights under this Award Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 14 contracts

Samples: Restricted Stock Agreement (Flotek Industries Inc/Cn/), Retirement Agreement (Flotek Industries Inc/Cn/), Restricted Stock Agreement (Flotek Industries Inc/Cn/)

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Prohibition on Transfer. Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting requirement and all other terms and conditions of this Award Restricted Stock Agreement. In the case of Participant’s death or Disabilitydisability, Participant’s vested rights under this Award Restricted Stock Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 8 contracts

Samples: Consulting Agreement (ZaZa Energy Corp), Consulting Agreement (ZaZa Energy Corp), Restricted Stock Agreement (ZaZa Energy Corp)

Prohibition on Transfer. Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting requirement and all other terms and conditions of this Award Restricted Stock Agreement. In the case of Participant’s death or Disability, Participant’s vested rights under this Award Restricted Stock Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 6 contracts

Samples: Restricted Stock Agreement (Independent Bank Group, Inc.), Restricted Stock Agreement (Independent Bank Group, Inc.), Restricted Stock Agreement (Independent Bank Group, Inc.)

Prohibition on Transfer. Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting Vesting requirement and all other terms and conditions of this Award Agreement. In the case of Participant’s death or Disability, Participant’s vested Vested rights under this Award Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 5 contracts

Samples: Restricted Stock Agreement (Flotek Industries Inc/Cn/), Restricted Stock Agreement (Flotek Industries Inc/Cn/), Restricted Stock Agreement (Flotek Industries Inc/Cn/)

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Prohibition on Transfer. Until restrictions lapseDuring the Restriction Period, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting requirement and all other terms and conditions of this Award Agreement. In the case of Participant’s death or Disability, Participant’s vested rights under this Award Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 3 contracts

Samples: Restricted Stock Agreement (Newpark Resources Inc), Newpark Resources Inc, Restricted Stock Agreement (Newpark Resources Inc)

Prohibition on Transfer. Until restrictions lapse, the Restricted Stock shall not be transferable. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, regardless of by whom initiated or attempted, prior to the lapse of restrictions shall be void and unenforceable against the Company. If, notwithstanding the foregoing, an assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock is effected affected by operation of law, court order or otherwise, the affected Restricted Stock shall remain subject to the risk of forfeiture, vesting requirement and all other terms and conditions of this Award Restricted Stock Agreement. In the case of Participant’s death or Disability, Participant’s vested rights under this Award Restricted Stock Agreement (if any) may be exercised and enforced by Participant’s guardian or legal representative.

Appears in 1 contract

Samples: Restricted Stock Agreement (Independent Bank Group, Inc.)

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