Permitted Transfers

Permitted Transfers. (i) sales of Inventory in the ordinary course of business, (ii) licenses in the ordinary course of business that either terminate on or prior to the Maturity Date or with the express written consent of MDB Capital Group LLC terminate subsequent to the Maturity Date for the use of Intellectual Property (A) to manufacturers, distributors, OEMs, strategic partners and value added re-sellers in connection with the manufacture and distribution of Grantor's products, (B) in connection with the... embedding of Intellectual Property in the products of others, and (C) to end users; provided no such license could result in a legal transfer of title of the licensed Intellectual Property, or (iii) dispositions of worn-out, obsolete or surplus Equipment at fair market value in the ordinary course of business View More

Permitted Transfers. Shall mean any Transfer of Shares by a Shareholder (a) to any other Shareholder; (b) to a grandparent, parent, sibling, child of a sibling, grandchild of a sibling, spouse and/or descendant of such Shareholder; (c) to a trust, including, without limitation, an Irrevocable Intangible Tax Trust, established solely for the benefit of such Shareholder and/or persons set forth in (a) or (b); (d) to a company whose shareholders consist solely of such Shareholder and/or persons set forth in (a) or... (b); (e) to a partnership or limited liability company whose partners or members consist solely of such Shareholder and/or persons set forth in (a) or (b); (f) to the guardian or conservator of such Shareholder and/or persons set forth in (a) or (b); (g) if the Shareholder is a company, to the shareholders of such company; (h) if the Shareholder is a partnership or limited liability company, to the partners or members of such partnership or limited liability company; (i) by will or the laws of descent and distribution; or (j) to any other Person approved by the Board, PROVIDED, HOWEVER, THAT, any transferee first agrees in writing prior to such transfer to become a party to and abide by the terms and conditions of this Agreement and to hold the Shares so transferred subject to the terms and conditions of this Agreement (and any amendments hereto). View More

Permitted Transfers. Means (a) Transfers of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business; (b) Transfers of inventory and collections of accounts in the ordinary course of business; and (c) Transfers of equipment or fixtures to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Transfer are reasonably promptly applied to the purchase price of such replacement... property. View More

Permitted Transfers. Shall mean in any transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12.

Permitted Transfers. Means (i) sales of Inventory in the ordinary course of business, (ii) licenses for the use of Intellectual Property in the ordinary course of business that could not result in a legal transfer of title of the licensed property, or (iii) dispositions of worn-out, obsolete or surplus Equipment at fair market value in the ordinary course of business