Shareholder Event of Transfer

Shareholder Event of Transfer. Any one or more of the following events: (a) The transfer of any Shares by any Shareholder, including any sale, assignment, conveyance, gift or any other form of disposition or transfer, voluntary or involuntary, including transfers by bequest or inheritance, without the approval by Management Services; (b) Loss of a Shareholder's license to practice medicine in the State of New Jersey for any reason; (c) A Shareholder is adjudicated incompetent by any court of law; (d) A Shareholder becomes... insolvent by reason of an inability to pay debts as they mature; files a petition in bankruptcy, reorganization or similar proceeding under the bankruptcy laws of the United States or has such a petition filed against a Shareholder which is not discharged within thirty (30) days; has a receiver or other custodian, permanent or temporary, appointed for the business, assets or property of a Shareholder; has bank accounts, property or accounts of a Shareholder's attached; has execution levied against business or property of a Shareholder; makes an assignment for the benefit of creditors; or a Shareholder has any Shares attached or levied upon for the payment of debts; (e) Any representation or covenant contained in this Agreement is breached by a Shareholder; or (f) For any reason a Shareholder no longer meets the qualifications to be a shareholder of a professional corporation in the State. View More