Common use of Trustee's Limited Authority to Transfer Clause in Contracts

Trustee's Limited Authority to Transfer. (a) Except for the voting rights specifically provided for in Section 2.02, the Trustee shall have no rights as a shareholder of the Company. The Trustee will have no authority to sell or otherwise dispose of any of the Trust Shares, except that the Trustee may effect a transfer of such Trust Shares pursuant to the procedures set forth below. In order to transfer Trust Shares, a Beneficiary must deliver to the Trustee a written notice ("Notice of Sale") stating that Beneficiary intends to sell, transfer, or otherwise dispose of, part or all of such Beneficiary's Trust Shares, the number of shares to be transferred, and identifying a recognized, reputable broker, acceptable to the Trustee to effect the transfer. In the event of an open market sale, the Notice of Sale also must include evidence reasonably satisfactory to the Trustee that the intended sale will be an open market sale, and in the event of a private sale, the Notice of Sale must include the consideration to be paid, the intended transferee and the proposed date of transfer. The Beneficiary shall include with the Notice of Sale the Trust Certificate(s) for the Trust Shares intended to be transferred. In order to effect a permitted transfer of Trust Shares, the Trustee shall:

Trustee's Limited Authority to Transfer. (a) Except for the voting rights specifically provided for in Section 2.02, the Trustee shall have no rights as a shareholder of the Company. The Trustee will have no authority to sell or otherwise dispose of any of the Trust Shares, except that the Trustee may effect a transfer of such Trust Shares pursuant to the procedures set forth below. In order to transfer Trust Shares, a Beneficiary must deliver to the Trustee a written notice ("Notice of Sale") stating that Beneficiary intends to sell, transfer, or otherwise dispose of, part or all of such Beneficiary's Beneficiary`s Trust Shares, the number of shares to be transferred, and identifying a recognized, reputable broker, acceptable to the Trustee to effect the transfer. In the event of an open market sale, the Notice of Sale also must include evidence reasonably satisfactory to the Trustee that the intended sale will be an open market sale, and in the event of a private sale, the Notice of Sale must include the consideration to be paid, the intended transferee and the proposed date of transfer. The Beneficiary shall include with the Notice of Sale the Trust Certificate(s) for the Trust Shares intended to be transferred. In order to effect a permitted transfer of Trust Shares, the Trustee shall:

Trustee's Limited Authority to Transfer. (a) Except for the voting rights specifically provided for in Section 2.02, the Trustee shall have no rights as a shareholder of the Company. The Trustee will have no authority to sell or otherwise dispose of any of the Trust Shares, except that the Trustee may effect a transfer of such Trust Shares pursuant to the procedures set forth below. In order to transfer Trust Shares, a Beneficiary must deliver to the Trustee a written notice ("Notice of Sale") stating that Beneficiary intends to sell, transfer, or otherwise dispose of, part or all of such Beneficiary's Trust Shares, the number of shares to be transferred, and identifying a recognized, reputable broker, acceptable to the Trustee to effect the transfer. In the event of an open market sale, the Notice of Sale also must include evidence reasonably satisfactory to the Trustee that the intended sale will be an open market sale, and in the event of a private sale, the Notice of Sale must include the consideration to be paid, the intended transferee and the proposed date of transfer. The Beneficiary shall include with the Notice of Sale the Trust Certificate(s) for the Trust Shares intended to be transferred. In order to effect a permitted transfer of Trust Shares, the Trustee shall:

Trustee's Limited Authority to Transfer. (a) Except for the voting rights specifically provided for in Section 2.02, the Trustee shall have no rights as a shareholder of the Company. The Trustee will have no authority to sell or otherwise dispose of any of the Trust Shares, except that the Trustee may effect a transfer of such Trust Shares pursuant to the procedures set forth below. In order to transfer Trust Shares, a Beneficiary must deliver to the Trustee a written notice ("Notice of Sale") stating that Beneficiary intends to sell, transfer, or otherwise dispose of, part or all of such Beneficiary's Trust Shares, the number of shares to be transferred, and identifying a recognized, reputable broker, acceptable to the Trustee to effect the transfer. In the event of an open market sale, the Notice of Sale also must include evidence reasonably satisfactory to the Trustee that the intended sale will be an open market sale, and in the event of a private sale, the Notice of Sale must include the consideration to be paid, the intended transferee and the proposed date of transfer. The Beneficiary shall include with the Notice of Sale the Trust Certificate(s) for the Trust Shares intended to be transferred. In order to effect a permitted transfer of Trust Shares, the Trustee shall: