Non-Assignability Clause Example from Business Contracts

This example Non-Assignability clause appears in 10 contracts from 1 company

Non-Assignability. The Option shall not be transferable by the Grantee otherwise than by will or by the laws of descent and distribution and shall be exercisable, during the Grantee's lifetime, only by the Grantee. The Option shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted here...under contrary to the provisions of this Section 5, or the levy of any attachment or similar process upon the Option or such right, shall be null and void. View More