Restrictions on Transfer and Pledge. Except as provided in Section 5 hereof, the Option and all rights and privileges granted hereunder shall not be transferred, assigned pledged or hypothecated in any way, whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Option or any right or privilege granted hereunder, except as provided herein, or upon the levy or any attachment or similar process upon the rights and privileges herein conferred, the Option and the rights and privileges hereunder shall become immediately null and void.
Appears in 5 contracts
Samples: Stock Option Agreement (National Commerce Corp), First Sterling (First Sterling Banks Inc), Option Agreement (Westside Financial Corp /Ga/)
Restrictions on Transfer and Pledge. Except as provided in Section 5 4 hereof, the Option and all rights and privileges granted hereunder shall not be transferred, assigned assigned, pledged or hypothecated in any way, whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Option or any right or privilege granted hereunder, except as provided herein, or upon the levy or any attachment or similar process upon the rights and privileges herein conferred, the Option and the rights and privileges hereunder shall become immediately null and void.
Appears in 3 contracts
Samples: Incentive Plan Option Agreement (First Sterling Banks Inc), Stock Option Agreement (First Sterling Banks Inc), Stock Option Agreement (First Sterling Banks Inc)
Restrictions on Transfer and Pledge. Except as provided in Section 5 4 hereof, the Option and all rights and privileges granted hereunder shall not be transferred, assigned pledged or hypothecated in any way, whether by operation of law or otherwise, and shall not be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Option or any right or privilege granted hereunder, except as provided herein, or upon the levy or any attachment or similar process upon the rights and privileges herein conferred, the Option and the rights and privileges hereunder shall become immediately null and void.
Appears in 3 contracts
Samples: Stock Option Agreement (First Sterling Banks Inc), Option Agreement (Westside Financial Corp /Ga/), Stock Option Agreement (First Sterling Banks Inc)
