Common use of Additional Transfers Clause in Contracts

Additional Transfers. Subject to Section 14.7 below, the term “Transfer” shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For the avoidance of doubt, the raising of additional capital, or an initial public offering event, shall not be deemed a Transfer within the meaning and provisions of this Article.

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty twenty-five percent (5025%) or more of the partners, or transfer of fifty twenty-five percent (5025%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty twenty-five percent (5025%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty twenty-five percent (5025%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For , it being expressly agreed that any of the avoidance of doubt, the raising of additional capital, or an initial public offering event, foregoing matters set forth in class (ii) shall not be deemed to be a Transfer within the meaning and provisions of this Articleif Tenant is a publicly held corporation.

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization dissolution of Tenant in a manner that does not result in a continuing entity that would be liable under the terms of this Lease, or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For the avoidance of doubt, the raising of additional capital, or an initial public offering event, shall not be deemed a Transfer within the meaning and provisions of this Article.

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “"Transfer” " shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For Notwithstanding the avoidance of doubtforegoing, under no circumstances shall the raising of additional capital, or an initial public offering eventof Tenant's stock on a nationally-recognized stock exchange, shall not be deemed considered a Transfer within “Transfer” under this Lease, so long as Tenant is substantially the meaning and provisions of this Articlesame legal entity.

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of more than fifty percent (50%) or more of the partners, or transfer of more than fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period. The terms of this Section 14.6 shall not apply to the Original Tenant and/or any Non-Transferee Assignee (including, or (C) the any sale, mortgage, hypothecation transfer or pledge issuance of stock in connection with an aggregate of fifty percent (50%) equity financing or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For the avoidance of doubt, the raising of additional capital, or an initial public offering event, shall not be deemed a Transfer within by the meaning and provisions of this ArticleOriginal Tenant and/or any Non-Transferee Assignee).

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For ; provided, however, in no event shall Tenant’s purchase or sale of inventory in accordance with its customary business practices constitute a sale, mortgage, hypothecation or pledge pursuant to the avoidance of doubt, the raising of additional capital, or an initial public offering event, shall not be deemed a Transfer within the meaning and provisions TCCs of this ArticleSection 14.6(C).

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” "TRANSFER" -------------------- shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For Notwithstanding anything to the avoidance contrary set forth in this Article 14 to the contrary, in no event shall an offering of doubt, the raising stock to third parties by means of additional capital, or a public offering (either an initial public offering event, shall not be deemed or a Transfer within the meaning and provisions of this Articlesubsequent public offering) through a recognized stock market constitute a "Transfer."

Additional Transfers. Subject to Section 14.7 belowFor purposes of this Lease, the term “Transfer” -------------------- "TRANSFER" shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month period. For Notwithstanding anything to the avoidance contrary set forth in this Article 14 to the contrary, in no event shall an offering of doubt, the raising stock to third parties by means of additional capital, or a public offering (either an initial public offering event, shall not be deemed or a Transfer within the meaning and provisions of this Articlesubsequent public offering) through a recognized stock market constitute a "Transfer."

Additional Transfers. Subject to the terms in Section 14.7 below1.3, for purposes of this Lease, the term “"Transfer” " shall also include (i) if Tenant is a partnership, the withdrawal or change, voluntary, involuntary or by operation of law, of fifty percent (50%) or more of the partners, or transfer of fifty percent (50%) or more of partnership interests, within a twelve (12)-month 12-month period, or the dissolution of the partnership without immediate reconstitution thereof, and (ii) if Tenant is a closely held corporation (i.e., whose stock is not publicly held and not traded through an exchange or over the counter), (A) the dissolution, merger, consolidation or other reorganization of Tenant or (B) the sale or other transfer of an aggregate of fifty percent (50%) or more of the voting shares of Tenant (other than to immediate family members by reason of gift or death), within a twelve (12)-month 12-month period, or (C) the sale, mortgage, hypothecation or pledge of an aggregate of fifty percent (50%) or more of the value of the unencumbered assets of Tenant within a twelve (12)-month 12-month period. For the avoidance of doubt, the raising of additional capital, or an initial public offering event, shall not be deemed a Transfer within the meaning and provisions of this Article.