Common use of Transfer to Permitted Transferees Clause in Contracts

Transfer to Permitted Transferees. (a) Following the Initial Share Holding Period, any Stockholder may Transfer any or all of the Subject Shares held by it to any Permitted Transferee of such Stockholder. Each Permitted Transferee will be required, at the time of and as a condition to such Transfer, to become a party to this Agreement by executing and delivering an Assumption Agreement and, upon executing and delivering an Assumption Agreement, will be treated as a Stockholder for all purposes hereof, including, but not limited to, the transfer restrictions set forth in Article III hereof. (b) Each Permitted Transferee of any Stockholder to which Subject Shares are Transferred shall, and such Stockholder shall cause such Permitted Transferee to, Transfer back to such Stockholder (or to another Permitted Transferee of such Stockholder) any Subject Shares it owns prior to such Permitted Transferee ceasing to be a Permitted Transferee to such Stockholder. (c) This Section 3.4 shall not apply to the grant by J.X. Xxxxxx of a participation interest to one or more other investment funds managed by a Controlled Affiliate of J.X. Xxxxxx without change in record ownership.

Transfer to Permitted Transferees. (a) Following the Initial Share Holding Period, any Stockholder may Transfer any or all of the Subject Shares held by it to any Permitted Transferee of such Stockholder. Each Permitted Transferee will be required, at the time of and as a condition to such Transfer, to become a party to this Agreement by executing and delivering an Assumption Agreement and, upon executing and delivering an Assumption Agreement, will be treated as a Stockholder for all purposes hereof, including, but not limited to, the transfer restrictions set forth in Article III hereof. (b) Each Permitted Transferee of any Stockholder to which Subject Shares are Transferred shall, and such Stockholder shall cause such Permitted Transferee to, Transfer back to such Stockholder (or to another Permitted Transferee of such Stockholder) any Subject Shares it owns prior to such Permitted Transferee ceasing to be a Permitted Transferee to such Stockholder. (c) This Section 3.4 shall not apply to the grant by J.X. Xxxxxx J.P. Morgan of a participation interest to one or more other investment funds managed investmenx xxxxx xxxaged by a Controlled Affiliate of J.X. Xxxxxx J.P. Morgan without change in record ownership.