Common use of Limited Assignment Clause in Contracts

Limited Assignment. (a) Unit Appreciation Rights may not be assigned separately from the related right to acquire Units. (b) Exchange Options, including any accompanying Unit Appreciation Rights, may not be assigned, except to: (i) an Optionholder's Family Trust, Personal Holding Corporation or Retirement Trust (or between such entities or from either of such entities to the Optionholder); or (ii) a legal representative of the Optionholder's estate or a person who acquires the Optionholder's rights under the Exchange Option by bequest or inheritance on death of the Optionholder. (c) If a Personal Holding Corporation to which an Exchange Option, including any accompanying Unit Appreciation Right, has been granted or assigned is no longer controlled by the related Eligible Person, or the shares of the Personal Holding Corporation are no longer beneficially owned by the Eligible Person and persons who were the spouse, minor children or minor grandchildren of the Eligible Person at the time of grant or assignment, then the Exchange Option, including any accompanying Unit Appreciation Right, cannot be exercised until it is assigned by the Personal Holding Corporation to that Eligible Person or another assignee permitted by section 4.4(a).

Limited Assignment. (a) Unit Appreciation Rights may not be assigned separately from the related right to acquire Units. (b) Exchange Options, including any accompanying Unit Appreciation Rights, may not be assigned, except to: (i) an Optionholder's ’s Family Trust, Personal Holding Corporation or Retirement Trust (or between such entities or from either of such entities to the Optionholder); or (ii) a legal representative of the Optionholder's ’s estate or a person who acquires the Optionholder's ’s rights under the Exchange Option by bequest or inheritance on death of the Optionholder. (c) If a Personal Holding Corporation to which an Exchange Option, including any accompanying Unit Appreciation Right, has been granted or assigned is no longer controlled by the related Eligible Person, or the shares of the Personal Holding Corporation are no longer beneficially owned by the Eligible Person and persons who were the spouse, minor children or minor grandchildren of the Eligible Person at the time of grant or assignment, then the Exchange Option, including any accompanying Unit Appreciation Right, cannot be exercised until it is assigned by the Personal Holding Corporation to that Eligible Person or another assignee permitted by section 4.4(a).