Common use of Permissible Transfers Clause in Contracts

Permissible Transfers. The restrictions on Transfers set forth in Sections 2.1(a) and 2.1(b) will not apply to any Transfer of the GM Locked Securities or the GMHL Locked Securities by Golden Meditech or GMHL, respectively, (as applicable, the “Transferring Party”) to an Affiliate of the Transferring Party, provided that (a) if the Transferring Party is GMHL, it still continues to hold at least 51% (fifty-one percent) economic and beneficial interest in the Equity Securities of the Golden Meditech, (b) such Affiliate has agreed in writing to be bound by the terms and conditions of this Agreement pursuant to an Addendum Agreement substantially in the form attached hereto as Exhibit A,