Common use of Permitted Transferees Clause in Contracts

Permitted Transferees. Notwithstanding the provisions of Section 15.1, a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI stock to any one or more of the following, provided that the transferee agrees to be bound (in a form satisfactory to URSI and its counsel) by the terms and conditions of this Agreement with respect to any further transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.

Permitted Transferees. Notwithstanding the provisions of Section --------------------- 15.1, a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI HDS stock to any one or more of the following, provided that the transferee agrees to be bound (in a form satisfactory to URSI HDS and its counsel) by the terms and conditions of this Agreement with respect to any further transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.

Permitted Transferees. Notwithstanding the provisions of Section 15.1, --------------------- a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI HDS stock to any one or more of the following, provided that the transferee agrees to be bound (in a form satisfactory to URSI HDS and its counsel) by the terms and conditions of this Agreement with respect to any further transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.

Permitted Transferees. Notwithstanding the provisions of Section 15.1, --------------------- a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI HDS stock to any one or more of the following, provided that the transferee agrees to be bound (in a form reasonably satisfactory to URSI HDS and its counsel) by the terms and conditions of this Agreement with respect to Section 15 in any further subsequent transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, including any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.

Permitted Transferees. Notwithstanding the provisions of --------------------- Section 15.1, a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI HDS stock to any one or more of the following, provided that the transferee agrees to be bound (in a form satisfactory to URSI HDS and its counsel) by the terms and conditions of this Agreement with respect to any further transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.

Permitted Transferees. Notwithstanding the provisions of Section 15.1, 15.1 --------------------- a STOCKHOLDER shall have the right to transfer some or all of the shares of URSI HDS stock to any one or more of the following, provided that the transferee agrees to be bound (in a form satisfactory to URSI HDS and its counsel) by the terms and conditions of this Agreement with respect to any further transfer of such shares: (a) any family member of a STOCKHOLDER (including, without limitation, any transfer to a custodian under any gift to minors statute), with family members being defined as any spouse, sibling, lineal descendant or ancestor of a STOCKHOLDER), (b) any trust which is for the benefit of one or more family members of a STOCKHOLDER and (c) any corporation, partnership, limited liability company or other entity (x) of which a majority of the interests therein by value is owned by the STOCKHOLDER and members of the STOCKHOLDER's family, and (y) which is and continues to be controlled by the STOCKHOLDER and members of the STOCKHOLDER'S family for the period set forth in Section 15.1.