Common use of Transferability and Assignment Clause in Contracts

Transferability and Assignment. This Agreement and the Phantom Units granted hereunder will not be transferable by the Executive other than by will or the laws of descent and distribution. Any attempt by the Executive to transfer, assign, pledge, hypothecate, or otherwise dispose of such rights contrary to the provisions in this Agreement or the Plan, or upon the levy of any attachment or similar process upon such rights, such rights shall immediately become null and void.

Transferability and Assignment. This Agreement and the Phantom Units and tandem DERs granted hereunder will not be transferable by the Executive other than by will or the laws of descent and distribution. Any attempt by the Executive to transfer, assign, pledge, hypothecate, or otherwise dispose of such rights contrary to the provisions in this Agreement or the Plan, or upon the levy of any attachment or similar process upon such rights, such rights shall immediately become null and void.

Transferability and Assignment. This Agreement and the Phantom Units granted hereunder will not be transferable by the Executive Participant other than by will or the laws of descent and distribution. Any attempt by the Executive Participant to transfer, assign, pledge, hypothecate, or otherwise dispose of such rights contrary to the provisions in this Agreement or the Plan, or upon the levy of any attachment or similar process upon such rights, such rights shall immediately become null and voidvoid and unenforceable against the Company.