TOURNAMENTS  SECTION XII - WTA TOURNAMENT MEMBERSHIPS b.  Violations of Transfer Rule i.  WTA Management shall determine whether an attempted Transfer  violates sub-Section 2.a in its sole discretion. ii.  If WTA Management determines that there has been a violation of  sub-Section 2.a, WTA Management shall decide whether to impose a  fine in the range of $100,000 to $500,000, taking into consideration  factors such as the severity of the violation, the size of the transaction,  and such other factors as it deems appropriate. iii.  In such circumstance, WTA Management shall notify the member of  the violation and fine and provide the member the opportunity to  submit additional information and to request a waiver or reduction  in the fine by the Board of Directors. iv. In connection with submitting the Transfer request to the Board  of Directors for consideration (or as soon thereafter as reasonably  possible), the CEO shall notify the Board of Directors of the violation  and fine. v.  The Board of Directors may decide whether to waive or reduce the  fine. Any such fine shall be assessed in addition to any Transfer  Fee (if the Transfer is approved) or on its own (if the Transfer is  disapproved). vi.  Approval of any Transfer shall be conditioned on payment of both  any Transfer Fee and any fine (subject to a decision by the Board of  Directors to waive or reduce the fine). vii. Any purported Transfer made without full compliance with this  Section 2 and/or the WTA’s approval shall be voidable by WTA in its  sole discretion and, in such case, any such purported Transfer shall  be null and void without any force or effect. viii. Should WTA learn of facts or circumstances constituting a violation  of this Section 2 following a purported Transfer and/or approval of  a Transfer, WTA has continuing jurisdiction to assess and collect any  fine and Transfer Fee in accordance with the foregoing. 3.  Membership Lease All Leases shall be subject to the written approval of the WTA and no Lease  shall be deemed effective until such approval is provided. No member  shall be permitted, directly or indirectly, to enter into or become subject to  218