Common use of Exempt Transfer Clause in Contracts

Exempt Transfer. As used herein, the term "Exempt Transfer" shall mean (i) Transfers by any SSC Party to another SSC Party or to a Related Party, (ii) a Transfer by a SSC Party who is an individual upon death of such SSC Party by inheritance or operation of law to the heirs or devisees of such SSC Party or (iii) Transfers by SSC to its partners prior to Closing. The Transfer, directly or indirectly, by an SSC Party of an interest in a Related Party which has acquired Shares in an Exempt Transfer, shall not be deemed an Exempt Transfer and shall be subject to the restrictions on Transfer set forth in Section 4.2(c).