Common use of Restriction on Transfer of Option Clause in Contracts

Restriction on Transfer of Option. The Option evidenced hereby is nontransferable other than by last will and testament or the laws of descent and distribution, and, shall be exercisable during the lifetime of the Optionee only by the Optionee (or in the event of his disability, by his personal representative) and after his death, only by his personal representative.

Restriction on Transfer of Option. The Option evidenced hereby is nontransferable other than fully transferable and assignable including by last will and testament or the laws of descent and distribution, and, shall be exercisable during the lifetime of the Optionee only by the Optionee Optionee, or his transferee or assigns (or in the event of his disability, by his personal representative) and after his death, only by his personal representative.

Restriction on Transfer of Option. The Option evidenced hereby is nontransferable other than by last will and testament or the laws of descent and distribution, and, shall be exercisable during the lifetime of the Optionee only by the Optionee (or in the event of his disability, by his personal representative) and after his death, only by his personal representative.

Restriction on Transfer of Option. The Option evidenced hereby is nontransferable other than by last will and testament or the laws of descent and distribution, and, distribution and shall be exercisable during the lifetime of the Optionee only by the Optionee (or in the event of his disability, by his personal representative) and after his death, only by his personal representative.