Common use of Permitted Transactions Clause in Contracts

Permitted Transactions. The participation rights in this Section 4 shall not pertain or apply to: (i) Any transfer to a revocable grantor trust with respect to which the Founder and members of his family are the sole beneficiaries; (ii) Any repurchase of Founders Shares by the Company; (iii) Any exercise by the Company of a right or remedy under the terms of any loan, security or stock pledge agreement where the Founders Shares serve as security for a loan made by the Company; (iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for their benefit or to a custodian for the benefit of a Founders’ issue; or (v) Any bona fide gift; provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift (other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a written agreement to be bound by and comply with all applicable provisions of this Agreement.

Permitted Transactions. The participation rights in this Section 4 5 shall not pertain or apply to: (i) Any transfer to a revocable grantor trust with respect to which the Founder Seller and members of his family are the sole beneficiaries; (ii) Any repurchase of Founders Shares by the Company; (iii) Any exercise by the Company of a right or remedy under the terms of any loan, security or stock pledge agreement where the Founders Shares serve as security for a loan made by the Company; (iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for their benefit or to a custodian for the benefit of a Founders’ issue; or (v) Any bona fide gift; provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift (other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a written agreement to be bound by and comply with all applicable provisions of this Agreement.

Permitted Transactions. The participation rights in this Section 4 5 shall not pertain or apply to: (i) Any transfer to a revocable grantor trust with respect to which the Founder Seller and members of his family are the sole beneficiaries; (ii) Any repurchase of Founders Shares by the Company; (iii) Any exercise by the Company of a right or remedy under the terms of any loan, security or stock pledge agreement where the Founders Shares serve as security for a loan made by the Company; (iv) Any transfer to any ancestors or descendants or spouse of a Founder or to a trustee for their benefit or to a custodian for the benefit of a Founders’ issue; or (v) Any bona fide gift; [***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. provided, however, that such Founder shall inform the Eligible Investors of such transfer or gift (other than a transfer pursuant to clause (ii) or (iii)) prior to effecting it and the transferee or donee (if other than the Company) shall furnish the Company and the Eligible Investors with a written agreement to be bound by and comply with all applicable provisions of this Agreement.