Common use of Transfer of Voting Trust Certificates Clause in Contracts

Transfer of Voting Trust Certificates. A voting trust certificate shall be transferable only on the books of the Voting Trustee, by the registered holder thereof, either in person or by duly authorized attorney-in-fact, upon surrender of such voting trust certificate, properly endorsed, or accompanied by such instrument of transfer as shall be approved by the Voting Trustee. Notwithstanding the foregoing, no transfer of the voting trust certificate shall be permissible without the prior written consent of the Voting Trustee, which consent may be granted or withheld in the sole discretion of the Voting Trustee. Any purported transfer of the voting trust certificate without the requisite consent shall be null and void and of no force or effect, and shall not vest any rights in the purported transferee. The Voting Trustee shall not be required to recognize any transfer of a voting trust certificate not made in accordance with the provisions of this Section 2.2.