Examples of Other Permitted Transferee in a sentence
For avoidance of doubt, the first transfer to an Other Permitted Transferee, whether from the Certificate Member or the Spouse or Significant Other, shall not require a transfer fee, and no transfer to a Spouse or Significant Other shall count as a transfer for purposes of assessing any * The Trustee has been designated as such pursuant to the Coral Creek Certificate Members Trust dated September 9, 2003.
The Other Permitted Transferee will then acquire the membership from the Club upon payment of the transfer fee and the amount referred to in the previous sentence.
A Certificate Membership is transferable during a Certificate Member’s lifetime to the Certificate Member’s Spouse or Significant Other, or to an Other Permitted Transferee of the Certificate Member, provided that in each instance: (i) the proposed transferee applies for and is approved for Membership (which approval shall not be unreasonably withheld); and (ii) the Membership is in Good Standing.
In the case of the second or any further transfer of a Certificate Membership to an Other Permitted Transferee, a transfer fee in an amount determined by the Club must be paid in connection therewith.
No additional Membership Deposit or a transfer fee need be paid for the transfer of the Certificate Membership to the Spouse or Significant Other, or with respect to the first transfer to an Other Permitted Transferee.