Transfers to Family Members. Notwithstanding the provisions of Section 2.1, each Shareholder shall be permitted to transfer (whether by purchase, assignment, gift, bequest, devise, levy, execution or other means of transfer) all or any portion of his or her Stock to (i) his or her spouse or any family members, (ii) any custodian, guardian or other representative for a spouse or family members, and/or (iii) the trustee of any trust created for the benefit of the Shareholder, his or her spouse and/or family members (collectively the "Permitted Family Transferees") provided that each and every such Permitted Family Transferee executes a written acknowledgment that (i) all Stock held by the Permitted Family Transferee will, notwithstanding the transfer to such Permitted Family Transferee, be deemed for all purposes of this Agreement to be owned by the transferring Shareholder, and (ii) the Permitted Family Trustee is to be bound by all of the terms of this Agreement as if a signatory "Shareholder" hereto.
Transfers to Family Members. Franchisee or an Equity Holder, if a natural person, may with Franchisor’s consent, which will not be unreasonably withheld, Transfer the Franchised Business or an equity interest in Franchisee to such person’s spouse, parent, sibling, niece, nephew, descendant or spouse1 s descendant provided that adequate provision is made for the management of the Franchised Business and the transferor guarantees, in form and substance satisfactory to Franchisor, the performance of the transferee’s obligations under this Agreement.
Transfers to Family Members. Notwithstanding Section 4(a) herein, if the Option is a Nonqualified Stock Option, subject to the Grantee’s advance written notice of the intent to transfer the Option and the Committee’s consent to such transfer, the Grantee may transfer the Option for no consideration to or for the benefit of a Family Member, subject to such limits or conditions as the Committee may establish. The transferee shall be subject to all the terms and conditions applicable to the Option in the event of such transfer. The Option may not be transferred by any such transferee other than by will or the laws of descent and distribution.
Transfers to Family Members. Subject to the provisions of Section 7, any Class B Common Stockholder who is an individual may Transfer, by lifetime sale, gift, bequest at death under the Class B Common Stockholder's last will and testament or any other means, and upon any terms dictated by such Class B Common Stockholder, all or any portion of his Shares to (i) a member of' such Class B Common Stockholder's Immediate Family (as defined below), (ii) any trust the sole beneficiaries of which are members of such Stockholder's Immediate Family or (iii) any entity the sole owners of which are the Stockholder and/or members of such Class B Common Stockholder's Immediate Family; provided, however, that no such Transfers shall be made pursuant to any divorce or separation proceeding or settlement. A Transfer proposed to be made pursuant to a divorce or separation proceeding or settlement shall be subject to Sections 3(a) through (e). "Immediate Family" as used herein shall mean spouse, lineal descendant, father, mother, brother or sister of the Transferring Stockholder, including "in-laws" and adopted children. In the case of the death of a Class B Common Stockholder exercising his rights under this Section 4, the personal representative of such Class B Common Stockholder shall be authorized to exercise, on behalf of such Class B Common Stockholder, such Class B Common Stockholder's right to make a Transfer described in the first sentence of this Section 4(b), provided that such personal representative delivers to the Company written notice, within thirty (30) days after the date of such Class B Common Stockholder's death or the qualification of such personal representative if later, of its intent to Transfer such Class B Common Stockholder's Shares pursuant to this Section 4(b), which notice shall identify the Transferee or Transferees of such Shares and whether or not the Transfer is effected pursuant to the terms of such Class B Common Stockholder's will or a trust or by virtue of intestate succession. Any Class B Common Stockholder or his personal representative effecting a Transfer of Shares hereunder shall provide the Company with written notice of such Transfer.
Transfers to Family Members. The Committee shall have the authority to adopt a policy that is applicable to existing Awards, new Awards, or both, which permits a Participant to transfer Awards during his or her lifetime to any Family Member. In the event an Award is transferred as permitted by such policy, such transferred Award may not be subsequently transferred by the transferee (other than another transfer meeting the conditions set forth in the policy) except by will or the laws of descent and distribution. A transferred Award shall continue to be governed by and subject to the terms and limitations of the Plan and relevant Award Agreement, and the transferee shall be entitled to the same rights as the Participant, as if the transfer had not taken place.
Transfers to Family Members a. During the Term, any Shareholder may transfer any or all of his Shares to a "family member." For purposes of this Agreement, "family member" means such Shareholder's spouse, ancestor, descendant (whether by blood or adoption), spouse of any such descendant, or any trust for the sole benefit of any one or more of such individuals.
Transfers to Family Members. The above restrictions shall not apply to a transfer by bequest, inheritance, or gift by a Stockholder to a member of his or her immediate family or to a trust for the benefit of the Stockholder and/or one or more members of his or her immediate family. For the purpose of the preceding sentence,
Transfers to Family Members. A Non-ISO may be transferred by a Participant to a “family member” (as defined in Rule 701(c)(3) of the 0000 Xxx) of such Participant or to a trust exclusively for the benefit of one or more of such family members of such Participant; provided, however, that such transfer is made as a gift without consideration, and such transfer complies with applicable securities laws.
Transfers to Family Members. Any Limited Partner Unit may be Transferred at any time to any Family Member who is not already a Partner. The transferee Family Member shall in conjunction with such Transfer be admitted to the Partnership as a Limited Partner on signing a Joinder Agreement.
Transfers to Family Members. Each Shareholder who is a natural person may, at any time or times, Transfer any or all of his or her shares of Common Stock to the following Persons:
(a) his or her spouse, siblings, or descendants;
(b) to the trustee(s) of one or more trusts (the terms of which are not inconsistent with this Agreement) at any time established by such Shareholder for the sole benefit of one or more Persons listed in clause (a) above; or
(c) to the trustee(s) of one or more voting trusts of which all voting trust certificates are owned by one or more Persons listed in clause (a) above; (the Persons described in clauses (a) through (c) above are collectively referred to herein as "Family Members").
