Common use of General Restriction on Transfer Clause in Contracts

General Restriction on Transfer. No Family Agreement Shareholder shall effect any sale, assignment, pledge, gift or other disposition, for consideration or otherwise, whether voluntary, involuntary, by will or intestacy, or by operation of law (a Transfer) of any Shares or any interest therein except in accordance with the provisions of this Agreement. A Transfer or attempt to effect a Transfer subject to the provisions of this Agreement shall be deemed to occur whenever any interest in any Shares is transferred or is attempted to be transferred, voluntarily, involuntarily or by operation of law, irrespective of whether any change in the record ownership of the Shares occurs. Any Transfer or attempted Transfer in violation of the Agreement (a Non-complying Transfer) shall not be recognized by the Company for any reason and shall be void.