Common use of Permitted Assignee Clause in Contracts

Permitted Assignee. The term ‘Permitted Assignee’ shall mean: (i) The Eligible Optionee; (ii) A spouse of the Eligible Optionee; (iii) Any person who is a lineal ascendant or descendant of the Eligible Optionee or the Eligible Optionee’s spouse; (iv) Any brother or sister of the Eligible Optionee; (v) Any spouse of any individual described in subparagraph (iii) or (iv); (vi) A trustee of any trust which, at the applicable time, is 100% Actuarially Held for a Permitted Assignee or Assignees (ad defined in Paragraph 6(c)); (vii) Any corporation in which, at the applicable time, each class of stock is 100% owned by a Permitted Assignee or Permitted Assignees; (viii) Any partnership in which, at the applicable time, each class of partnership interest is 100% owned by a Permitted Assignee or Permitted Assignees; or (ix) Any limited liability company or other form of incorporated or unincorporated business organization in which each class of stock, membership or other equity interest is 100% owned by a Permitted Assignee or Assignees.