Common use of Transferability of the Option Clause in Contracts

Transferability of the Option. The Option may not be assigned, transferred, or otherwise disposed of, or pledged or hypothecated or in any way be subject to execution, attachment or other process. Any assignment, transfer, pledge, hypothecation or other disposition of the Option attempted contrary to the provisions of this Agreement or any levy, execution, attachment or other process attempted upon the Option will be null and void and without effect.