Common use of Transfers for no consideration Clause in Contracts

Transfers for no consideration. (a) Notwithstanding anything in this Agreement to the contrary but with prior written notice to each Member of the XxXxxx Family Committee, any Stockholder may make a gratuitous transfer (hereinafter, a “Gift”) of (i) Class B shares to any Affiliate or (ii) any shares of common stock to a Permitted Transferee, provided, in each case, that the transferee shall have agreed to become a party to this Agreement. (b) Any Gift of (i) Class B shares to a Person or Persons other than an Affiliate or (ii) any shares of Common Stock to any Person or Persons who are not Permitted Transferees shall require prior approval of the XxXxxx Family Committee (excluding the vote of any Member who wishes to make such Gift).