Restrictions on Transfer and Assignment. An Option shall not be transferable or assignable otherwise than by will or the laws of descent and distribution and shall be exercisable during the lifetime of the Optionee only by such Optionee or the Optionee’s guardian or legal representative.
Restrictions on Transfer and Assignment. Shares of Series A Preferred Stock may be transferred on the Corporation’s books and records only (i) pursuant to a written assignment (or stock power, or other suitable instrument of conveyance) in form and substance satisfactory to the Corporation in its reasonable discretion, and (ii) after the Corporation’s receipt of a legal opinion, in form and substance satisfactory to the Corporation in its reasonable discretion, that such transfer will be conducted either pursuant to an effective registration thereof under the Securities Act or pursuant to an applicable exemption from the such registration requirements (including the registration or qualification requirements of any applicable state securities laws). Absent compliance with the provisions of this Section 16, the Corporation shall not be obligated to recognize any transfer of Series A Preferred Stock.
Restrictions on Transfer and Assignment. (a) Except as expressly provided in Section 6.1(b), no Member shall sell, assign, transfer, convey, pledge or otherwise encumber all or any portion of its Percentage Interest, without obtaining the consent of the Manager and unanimous consent of the other Members. Any attempted disposition of a Percentage Interest in violation of this Section 6.1(a) shall be void and of no effect.
Restrictions on Transfer and Assignment. Except as otherwise provided in Section 11 of the Plan, the DERs issued pursuant to this Agreement, and rights and privileges conferred hereby, may not be sold, transferred, assigned, pledged, hypothecated or encumbered in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Upon any attempt to sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of the DERs, or any right or privilege conferred hereby, contrary to the provisions hereof, such DERs shall automatically be forfeited by the Grantee and returned to the Company. The DERs are non-negotiable.
Restrictions on Transfer and Assignment. (a) Except as expressly provided in this Article VI of this Agreement, no Member shall sell, directly or indirectly, assign, transfer, convey, pledge or otherwise encumber all or any portion of its Membership Interest, (including, without limitation, by transferring ownership interests in direct or indirect Members of the Company) without obtaining the Consent of the Members as provided herein. Any attempted disposition of a Membership Interest in violation of this Section 6.1 shall be void and of no effect.
