Common use of Transfer Upon Death Clause in Contracts

Transfer Upon Death. Subject to the provisions of Section 9.1, upon the death of any holder of Management Equityholder Shares, the Management Equityholder Shares held by such holder may be distributed by will or other instrument taking effect at death or by applicable laws of descent and distribution to such holder's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributees, whether or not such recipients are Members of the Immediate Family of such holder.

Transfer Upon Death. Subject to the provisions of Section 9.1, upon ------------------- the death of any holder of Management Equityholder Shares or Employee Shares, the Management Equityholder Shares or Employee Shares, as the case may be, held by such holder may be distributed by will or other instrument taking effect at death or by applicable laws of descent and distribution to such holder's estate, executors, administrators and personal representatives, and then to such holder's heirs, legatees or distributeesdistributes, whether or not such recipients are Members of the Immediate Family of such holder.