Common use of Automatic Transfer Clause in Contracts

Automatic Transfer. The Shares shall be deemed to have been ------------------ transferred to the Successor Shareholder, designated as provided in Section 10, without further action by the Shareholder, immediately upon the occurrence of any of the following events (each a "Transfer Event"); provided, however, that -------- ------- until the Successor Shareholder shall have made the Shareholders designation effective pursuant to Section 10, the Shareholder shall continue to hold the Shares in trust for the benefit of the Successor Shareholder, subject to the limitations imposed by Section 9.3: (a) the death of the Shareholder; (b) the incompetence or permanent disability of the Shareholder such that the Shareholder is unable to render any professional services on behalf of Flagship; (c) the Shareholder becoming disqualified under Maryland law to be a shareholder of Flagship; (d) the resignation of the Shareholder pursuant to Section 3.2; (e) any attempt by the Shareholder or by any person to transfer the Shares, whether voluntarily or involuntarily, by operation of law or otherwise, to any person who is not the Successor Shareholder designated by PQC pursuant to Section 10; (f) the filing of any petition for or another documents causing or intended to cause a judicial, administrative, voluntary or involuntary dissolution of Flagship; or (g) the designation of a Successor Shareholder by PQC pursuant to Section 10, whether or not such designation has become effective under that provision.

Automatic Transfer. The Shares shall be deemed to have been ------------------ transferred to the Successor Shareholder, designated as provided in Section 10, without further action by the Shareholder, immediately upon the occurrence of any of the following events (each a "Transfer Event"); provided, however, that -------- ------- ----------------- until the Successor Shareholder shall have made the Shareholders Shareholder's designation effective pursuant to Section 10, the Shareholder shall continue to hold the Shares in trust for the benefit of the Successor Shareholder, subject to the limitations imposed by Section 9.3: (a) the death of the Shareholder; (b) the incompetence or permanent disability of the Shareholder such that the Shareholder is unable to render any professional services on behalf of FlagshipMCP; (c) the Shareholder Shareholder's becoming disqualified under Maryland Massachusetts law to be a shareholder of FlagshipMCP; (d) the resignation of the Shareholder pursuant to Section 3.2; (e) any attempt by the Shareholder or by any person to transfer the Shares, whether voluntarily or involuntarily, by operation of law or otherwise, to any person who is not the Successor Shareholder designated by PQC pursuant to Section 10; (f) the filing of any petition for or another documents causing or intended to cause a judicial, administrative, voluntary or involuntary dissolution of FlagshipMCP; or (g) the designation of a Successor Shareholder by PQC pursuant to Section 10, whether or not such designation has become effective under that provision.