Transfer of Class B Common Stock. (i) A holder of Class B Common Stock may only transfer shares of Class B Common Stock to another person if such holder transfers a corresponding number of Series B Membership Interests to such person in accordance with the provisions of the Limited Liability Company Agreement of First Wind Holdings, LLC, a Delaware limited liability company (the “Company”), as such agreement may be amended from time to time in accordance with the terms thereof.
Transfer of Class B Common Stock. (a) A holder of Class B Common Stock may surrender shares of Class B Common Stock to the Corporation for no consideration at any time. Following the surrender of any shares of Class B Common Stock to the Corporation, the Corporation will take all actions necessary to retire such shares and such shares shall not be re-issued by the Corporation.
Transfer of Class B Common Stock. Except as provided below, if a Class B Stockholder desires to Transfer its shares of Class B Common Stock other than to an Affiliate, then it must, first, convert its shares of Class B Common Stock into shares of Class A Common Stock, and second, Transfer the shares of Class A Common Stock pursuant to a Permitted Transfer. Notwithstanding the foregoing restriction, a holder of Class B Common Stock may sell its shares of Class B Common Stock in a transaction in which it completely divests itself of all interests in the Management Company and the Operating Company, subject at all times to the Transfer restrictions set forth in this Stockholders’ Agreement and the Operating Agreement.
Transfer of Class B Common Stock. At or prior to the Effective Time, Xxxxxx shall transfer or otherwise surrender to the Company all of his interest in the Class B Common Stock for no consideration and Xxxxxx shall cease to be a shareholder of Xxxxxx and Company. As a result of the consummation of transfer contemplated in this Section 5.05, Xxxxxx and Company shall become a wholly-owned subsidiary of the Company.
Transfer of Class B Common Stock. (1) A holder of Class B Common Stock may only transfer such Class B Common Stock (or a fraction thereof) to a transferee if the holder also transfers a corresponding number of Units to the transferee (as such number may be adjusted to reflect equitably any stock split, subdivision, combination or similar change with respect to the Units or Class B Common Stock).
Transfer of Class B Common Stock. A. A holder of Class B Common Stock may surrender shares of Class B Common Stock to the Corporation for no consideration at any time. A holder of Class B Common Stock may transfer shares of Class B Common Stock to any transferee (other than the Corporation) only if, and only to the extent permitted by the LLC Agreement, such holder also simultaneously transfers a corresponding number of such holder’s Units to such transferee. Upon a transfer of Units in accordance with the LLC Agreement, a corresponding number of shares of Class B Common Stock held by the holder of such Units will automatically and simultaneously be transferred to the same transferee of such Units. The transfer restrictions described in this Section 4.3(b)(iii). are referred to as the “Restrictions”. For the avoidance of doubt, when Class B Units are transferred to a Xxxxxxxx Affiliate as expressly permitted by the LLC Agreement, a corresponding number of shares of Class B Common Stock shall be simultaneously transferred to a Xxxxxxxx Affiliate, and such transfer shall not be subject to the Restrictions.
Transfer of Class B Common Stock. Upon the sale, assignment, transfer, conveyance, or other disposition, whether voluntary, by operation of law or otherwise (a "Transfer," which, for the purpose hereof, shall not include a pledge) of shares of CLASS B Common Stock, the shares so transferred shall, by virtue of such Transfer, automatically be converted into an equal number of fully paid and non assessable shares of CLASS A Common Stock. Thereafter, the shares of CLASS B Common Stock so converted shall be authorized and unissued shares of CLASS B Common Stock of the Corporation.
Transfer of Class B Common Stock. In the event that any outstanding share of Class B Common Stock shall cease to be held directly or indirectly by a holder of a Unit as set forth in the books and records of FAEC LLC, such share, if not transferred to another holder of Units, shall automatically and without further action on the part of the Corporation or any holder of Class B Common Stock be transferred to the Corporation for no consideration and thereupon shall be cancelled.
Transfer of Class B Common Stock. The Founder, Xxxxx Xxxxxxxx and members of the Founder Group may at any time transfer any number of shares of Class B Common Stock held by such holder of Class B Common Stock to a Permitted Transferee. Immediately prior to any transfer of shares of Class B Common Stock to a Person other than a Permitted Transferee, each share of Class B Common Stock being transferred shall automatically, without any further action by the Corporation, the transferor or the transferee, convert into one (1) fully paid and nonassessable share of Class A Common Stock.
Transfer of Class B Common Stock
