[2] transferable - Facebook may transfer the content
I think this means that they can actually transfer the license you are granting them onto a 3rd party, together with your content.
So "You give us permission to transfer this license (and your content) to a 3rd party"
@rhowe started
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
I think this means that they can actually transfer the license you are granting them onto a 3rd party, together with your content.
So "You give us permission to transfer this license (and your content) to a 3rd party"