Transferability of Rights. The Company shall have the right to transfer all of its obligations under the Plan and an Employment Agreement with respect to one or more Participants to any purchaser of all or any part of the Company’s business in a Transfer of Business or otherwise without the consent of any Participant. No Participant or spouse of a Participant shall have any right to commute, encumber, transfer or otherwise dispose of or alienate any present or future right or expectancy which the Participant or such spouse may have at any time to receive payments of benefits hereunder, which benefits and the right thereto are expressly declared to be non-assignable and nontransferable, except to the extent required by law. Any attempt to transfer or assign a benefit, or any rights granted hereunder, by a Participant or the spouse of a Participant shall, in the sole discretion of the Committee (after consideration of such facts as it deems pertinent), be grounds for terminating any rights of the Participant or his or her spouse to any portion of the Plan benefits not previously paid.
Transferability of Rights. The Rights are transferrable in multiples of three Rights under the procedures set forth in Section 3(a) above. It is anticipated that the Rights will be quoted for trading on the NASDAQ National Market System until the close of business on the last National Market System trading day preceding the Expiration Date. Rights may be purchased or sold through usual investment channels, including banks and brokers.
Transferability of Rights. Until the Distribution Date, the Rights will be evidenced by the stock certificates representing outstanding Common Stock, no separate certificates evidencing the Rights will be distributed, and the transfer of certificates representing outstanding Common Stock will constitute a transfer of the Rights. After the Distribution Date, separate certificates evidencing the Rights will be mailed to holders of record of the Company’s Common Stock as of the close of business on the Distribution Date, and such separate Rights certificates alone will evidence the Rights.
Transferability of Rights. Notwithstanding anything to the contrary herein, the rights of the Original JWC Holders, the Original Borealis Holders, the Original OMERS Holders and their respective Permitted Transferees under Sections 4.3(d), (e), (h) and (i) may only be exercised by the Original JWC Holders, the Original Borealis Holders, the Original OMERS Holders and their respective Permitted Transferees, as applicable, and may not be transferred or assigned in connection with any other Transfer of Subject Securities or otherwise, it being acknowledged that all other rights may be transferred and assigned.
Transferability of Rights. An Option granted under the Plan shall not be transferable, other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. No option or interest or right to the Option shall be available to pay off any debts, contracts or engagements of the Participant or the Participant’s successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempt at disposition of the Option shall have no effect.
Transferability of Rights. The preemptive rights set forth in this Section 3 may not be assigned or transferred, except that (i) such rights are assignable by each Preemptive Rights Holder to any wholly owned subsidiary or parent of, or to any corporation or entity that is, within the meaning of the Securities Act, controlling, controlled by or under common control with, any such Preemptive Rights Holder, (ii) such rights are assignable by each Preemptive Rights Holder to any partner, former partner, member, retired member, stockholder or Affiliate of such Preemptive Rights Holder, and (iii) such rights are assignable between and among any of the Preemptive Rights Holders.
Transferability of Rights. Notwithstanding anything herein to the contrary, each of the MSCP Funds and the Management Investors shall have the right to Transfer any of its rights under this Section 3.02 in respect of any Registrable Common Shares held by it to any Permitted Transferee of any of the Registrable Common Shares of such Holder. Following any such Transfer, such Permitted Transferee shall possess the same rights under this Section 3.02 in respect of the Registrable Common Shares then owned by it as the transferring Holder had possessed in respect of such securities prior to the Transfer.
Transferability of Rights. Notwithstanding anything herein to the contrary, each Holder shall have the right to Transfer any of its rights under this Section 3.03 to any Permitted Transferee of any of the Registrable Common Shares of such Holder. Following any such Transfer, such Permitted Transferee shall possess the same rights under this Section 3.03 in respect of the Registrable Common Shares then owned by it as the transferring Holder had possessed in respect of such securities prior to the Transfer.
Transferability of Rights. The Parties are not allowed to assign or otherwise transfer any Party's rights under this Agreement without prior approval of the other Party.
Transferability of Rights. Prior to the Exercisability Date, the Rights will not be transferable apart from the shares of the Common Stock to which they are attached. Thus, the surrender or transfer of any Common Stock certificate prior to that date will also constitute the transfer of the Rights associated with the shares represented by such certificate. As soon as practicable after the Exercisability Date, separate certificates evidencing the Rights ("Rights Certificates") will be mailed to each record holder of shares of the Common Stock as of the close of business on the Exercisability Date and, in certain circumstances, holders of certain shares issued after the Exercisability Date. Flip-In Rights. Upon the occurrence of an Exercisability Date (a "Flip-In Event"), each holder of a Right will thereafter have the right (the "Flip-In Right") to receive, upon exercise, the number of shares of the Common Stock (or, in certain circumstances, at the discretion of the Company's Board of Directors, cash, property, other securities of the Company or other consideration) having a market value immediately prior to the Flip-In Event equal to two times the then current Exercise Price of the Right; PROVIDED, HOWEVER, that any Right that is (or, in certain circumstances specified in the Rights Agreement, was) beneficially owned by an Acquiring Person (or any of its affiliates or associates) will become null and void upon the occurrence of the Flip-In Event. Cash will be paid in lieu of issuing fractional shares of Series One Preferred Stock pursuant to an exercise of the Rights.
