Common use of No Transfer before Vesting Clause in Contracts

No Transfer before Vesting. Until the Performance Goal has been satisfied and the Restricted Shares otherwise vest, the Restricted Shares may not be transferred, pledged, alienated, attached or otherwise encumbered; any purported pledge, alienation, attachment or encumbrance shall be void and unenforceable against the Company; and no attempt to transfer the unvested portion of the Award covering any of the Restricted Shares or the Restricted Shares, whether voluntary or involuntary, by operation of law or otherwise, shall vest the purported transferee with any interest or right in or with respect to such Award or Restricted Shares. Notwithstanding the foregoing, the Restricted Shares may be transferred by will or the laws of descent and distribution or pursuant to a trust created for the benefit of the Recipient or his family as provided in the Section 14 of the LTIP. The restrictions set forth in the LTIP and this Agreement shall apply to the Restricted Shares in the hands of any transferee.

No Transfer before Vesting. Until the Performance Goal has been satisfied and the Restricted Shares otherwise vest, the Restricted Shares may not be transferred, pledged, alienated, attached or otherwise encumbered; any purported pledge, alienation, attachment or encumbrance shall be void and unenforceable against the Company; and no attempt to transfer the unvested portion of the Award covering any of the Restricted Shares or the Restricted Shares, whether voluntary or involuntary, by operation of law or otherwise, shall vest the purported transferee with any interest or right in or with respect to such Award or Restricted Shares. Notwithstanding the foregoing, the Restricted Shares may be transferred by will or the laws of descent and distribution or pursuant to a trust created for the benefit of the Recipient or his family as provided in the Section 14 of the LTIP. The restrictions set forth in the LTIP and this Agreement shall apply to the Restricted Shares in the hands of any transferee.