Common use of Restrictions on Transfer of Restricted Shares Clause in Contracts

Restrictions on Transfer of Restricted Shares. The Restricted Shares may not be sold, exchanged, assigned, transferred, pledged, encumbered or otherwise disposed of by the Grantee, except to the Company, until the Restricted Shares have become nonforfeitable as provided in Section 3 hereof; provided, however, that the Grantee’s rights with respect to such Common Shares may be transferred by will or pursuant to the laws of descent and distribution. Any purported transfer or encumbrance in violation of the provisions of this Section 2 shall be void, and the other party to any such purported transaction shall not obtain any rights to or interest in such Common Shares.

Restrictions on Transfer of Restricted Shares. The Restricted Shares may not be sold, exchanged, assigned, transferred, pledged, encumbered or otherwise disposed of by the Grantee, except to the Company, until the Restricted Shares have become nonforfeitable as provided in Section 3 hereof; provided, however, that the Grantee’s rights with respect to such Common Restricted Shares may be transferred by will or pursuant to the laws of descent and distribution. Any purported transfer or encumbrance in violation of the provisions of this Section 2 shall be voidvoid ab initio, and the other party to any such purported transaction shall not obtain any rights to or interest in such Common Restricted Shares.

Restrictions on Transfer of Restricted Shares. The Restricted Shares may not be transferred, sold, pledged, exchanged, assigned, transferred, pledged, assigned or otherwise encumbered or otherwise disposed of by the Grantee, except to the Company, Grantee unless and until the Restricted Shares they have become nonrestricted and nonforfeitable as provided in accordance with Section 3 hereof; provided, however, that the Grantee’s rights with respect to such Common 's interest in the Restricted Shares may be transferred at any time by will or pursuant to the laws of descent and distribution. Any purported transfer transfer, encumbrance or encumbrance other disposition of the Restricted Shares that is in violation of the provisions of this Section 2 shall be null and void, and the other party to any such purported transaction shall not obtain any rights to or interest in such Common the Restricted Shares.