A Permissible definition

A Permissible. Transferee is defined as any member of the immediate family of the OPTIONEE, any trust, whether revocable or irrevocable, solely for the benefit of members of the OPTIONEE's immediate family, or any partnership whose only partners are members of the OPTIONEE's immediate family. Any such Permissible Transferee shall remain subject to all of the terms and conditions applicable to this OPTION and subject to the rules and regulations prescribed by the Committee. This OPTION may not be retransferred by a Permissible Transferee except by will or the laws of descent and distribution, and then only to another Permissible Transferee. Other than described above, this OPTION may not be transferred except by will or the laws of descent and distribution and, during the lifetime of an OPTIONEE to whom granted, may be exercised only by him, his guardian or legal representative.
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A Permissible. Transferee is defined as any member of the immediate family of the OPTIONEE, any trust, whether revocable or irrevocable, solely for the benefit of members of the OPTIONEE's immediate family, or any partnership whose only partners are members of the OPTIONEE's immediate family. Any such Permissible Transferee shall remain subject to all of the terms and conditions applicable to this OPTION and subject to the rules and regulations prescribed by the Committee. This OPTION may not be retransferred by a Permissible Transferee except by will or the laws of descent and distribution, and then only to another Permissible Transferee. Other than described above, this OPTION may not be transferred except by will or the laws of descent and distribution and, during the lifetime of an OPTIONEE to whom granted, may be exercised only by him, his guardian or legal representative. SECTION 5 Exercise After OPTIONEE Ceases to be a Director. ------------------------------------------------
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Examples of A Permissible in a sentence

  • A Permissible Transferee may not retransfer an Option except by will or the laws of descent and distribution and then only to another Permissible Transferee.

  • A Permissible Transferee is a person or entity, other than a participant, to whom stock options may be transferred.

  • A Permissible Withdrawal may be made without regard to any notice or consent requirements otherwise required under Code Sections 401(a)(11) or 417.

  • A Permissible Delay shall extend the Delivery Date for a period equal to duration of the Permissible Delay.

  • A Permissible Transferee shall mean any parent, spouse or lineal ancestor or descendant (including those legally adopted) of the Optionee or any trust or other similar entity established solely for the benefit of the Optionee or one or more of the aforementioned individuals.

  • A Permissible Assignment is an assignment to an entity that (a) is not a competitor of the other Party; and (b) either (i) directly or indirectly Controls, is Controlled by or is under common Control with that Party; or (ii) is a purchaser of all or substantially all of the assets or shares of the assigning Party.

  • Any change other than to a "Permissible Transferee" shall constitute a breach of this Agreement by Agent and Owner may terminate this Agreement in accordance with Section 5.5 A "Permissible Transferee" shall mean any corporation, partnership, trust or other entity, more than 50% of the outstanding stock of which, or more than 50% interest in which, is owned or controlled by Agent, subject to Lender's approval, which approval shall not be unreasonably withheld.

  • A Permissible Delay arising from an event of Force Majeure shall be of no greater duration than is required by the event of Force Majeure.

  • A Permissible Transferee may not retransfer the Options except by will or the laws of descent and distribution and then only to another Permissible Transferee.

  • A "Permissible Transferee" shall mean any corporation, partnership, trust or other entity, more than 50% of the outstanding stock of which, or more than 50% interest in which, is owned or controlled by Agent.