Common use of Exempt Transfer Clause in Contracts

Exempt Transfer. The following transactions shall constitute "Exempt Transfers" for the purpose of Section 2(b): (i) a Transfer of Company Securities by a Holder to the Company, (ii) a Transfer by a Holder of Company Securities by will or intestate succession to such Holder's executor's, administrators, testamentary trustees, legatees or beneficiaries, (iii) a Transfer of Company Securities by a Holder to any Related Party (as defined below) of such Holder, (iv) a Transfer of Company Securities by a Holder to the public pursuant to an effective registration statement under the Securities Act or pursuant to Rule 144 promulgated thereunder, (v) a Transfer of Company Securities that has been approved in writing as an Exempt Transfer by the holders of a majority of the outstanding Common Stock and the holders of a majority of the outstanding shares of Series A Preferred Stock, par value $.0l per share, of the Company; or (vi) a Transfer of Company Securities from one of the Holders to another of the Holders.