Common use of Substitution of Transferee Clause in Contracts

Substitution of Transferee. Following a transfer under this Section 2.1, the transferee shall be substituted for, and shall enjoy the same rights, and be subject to the same obligations, as the transferring Shareholder with respect to the transferred Shares, except that in the case of any transfer other than a transfer from an SPE Shareholder or a Permitted Transferee, such transferee shall not have any rights pursuant to Section 5.4.

Substitution of Transferee. Following a transfer under this Section 2.1, the transferee shall be substituted for, and shall enjoy the same rights, (which rights shall be exercised jointly with the transferring Shareholder and/or its Affiliates that hold Shares), and be subject to the same obligations, as the transferring Shareholder with respect to the transferred Shares, except that in the case of any transfer other than a transfer from an SPE Shareholder or a Permitted TransfereeTransferee of an SPE Shareholder, such transferee shall not have any rights pursuant to Section 5.4.

Substitution of Transferee. Following a transfer under this Section 2.1, the transferee shall be substituted for, and shall enjoy the same rights, and be subject to the same obligations, as the transferring Shareholder with respect to the transferred Shares, except that in the case of any transfer other than a transfer from an SPE Shareholder or a Permitted Transferee, such transferee shall not have any rights pursuant to Section 5.4.

Substitution of Transferee. Following a transfer under this Section 2.1, the transferee shall be substituted for, and shall enjoy the same rightsrights (which rights shall be exercised jointly with the transferring Shareholder and/or its Affiliates that hold Shares), and be subject to the same obligations, as the transferring Shareholder with respect to the transferred Shares, except that in the case of any transfer other than a transfer from an SPE Shareholder or a Permitted TransfereeTransferee of an SPE Shareholder, such transferee shall not have any rights pursuant to Section 5.4.