Common use of Transfers Upon Death Clause in Contracts

Transfers Upon Death. Upon the death of the Grantee, the Vested Shares held by the Grantee may be transferred and distributed by will or other instrument taking effect at his death or by the laws of descent and distribution to the Grantee's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributees whether or not such heirs, legatees or distributees are Permitted Transferees. No transfer permitted hereby shall be effective unless the transferee to whom the Shares are proposed to be transferred pursuant to this provision has delivered to the Company a written acknowledgment that the Shares to be received by it are subject to the provisions of this Agreement (including without limitation, the provisions of this SECTION 4) and that such transferee is bound hereby and thereby.

Transfers Upon Death. Upon the death of the GranteeExecutive, the Vested Shares held by the Grantee Executive may be transferred and distributed by will or other instrument taking effect at his death or by the laws of descent and distribution to the GranteeExecutive's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributees whether or not such heirs, legatees or distributees are Permitted Transferees. No transfer permitted hereby shall be effective unless the transferee to whom the Shares are proposed to be transferred pursuant to this provision has delivered to the Company a written acknowledgment acknowledgement that the Shares to be received by it are subject to the provisions of this Agreement (including without limitation, the provisions of this SECTION Section 4) and that such transferee is bound hereby and thereby.

Transfers Upon Death. Upon the death of the GranteeExecutive, the Vested Shares held by the Grantee Executive may be transferred and distributed by will or other instrument taking effect at his death or by the laws of descent and distribution to the GranteeExecutive's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributees whether or not such heirs, legatees or distributees are Permitted Transferees. No transfer permitted hereby shall be effective unless the transferee to whom the Shares are proposed to be transferred pursuant to this provision has delivered to the Company a written acknowledgment that the Shares to be received by it are subject to the provisions of this Agreement (including without limitation, the provisions of this SECTION Section 4) and that such transferee is bound hereby and thereby.