Common use of Permitted Transfer Procedures Clause in Contracts

Permitted Transfer Procedures. If any Shareholder wishes to transfer Restricted Shares to a Permitted Transferee under Section 2.2 such Shareholder shall give notice to the other Shareholders of its intention to make such a transfer not less than two (2) Business Day prior to effecting such transfer, which notice shall state the name and address of each Permitted Transferee to whom such transfer is proposed, the relationship of such Permitted Transferee to such Shareholder, and the number of Restricted Shares proposed to be transferred to such Permitted Transferee.