Common use of AGREEMENT ENDS Clause in Contracts

AGREEMENT ENDS. (a) Unless otherwise extended as specified in Article 8.3(b), this agreement ends as of 12:01 am on the date that transfer of ownership occurs.‌ (b) Change of ownership is defined as follows:‌ (1) The change in an owner(s) that has/have 50% or more ownership constitutes change of ownership. (2) The merger of the OTP corporation (for-profit or not-for-profit) into another corporation, or the consolidation of two or more corporations, resulting in the creation of a new corporation, constitutes change of ownership. The transfer of corporate stock or the merger of another corporation into the OTP corporation, however, does not constitute change of ownership. The transfer of title to property of the OTP corporation to another corporation(s), and the use of that property for the rendering of partial hospital care by the corporation(s) receiving it is essential for a change of ownership. (3) The lease of all or part of an OTP or a change in the OTP’s lessee constitutes change of ownership.

AGREEMENT ENDS. (a) Unless otherwise extended as specified in Article 8.3(b), ) this agreement ends as of 12:01 am on the date that transfer of ownership occurs.‌ (b) Change of ownership is defined as follows:‌ (1) The change in an owner(s) that has/have 50% or more ownership constitutes change of ownership. (2) The merger of the OTP IOP corporation (for-profit or not-for-profit) into another corporation, or the consolidation of two or more corporations, resulting in the creation of a new corporation, constitutes change of ownership. The transfer of corporate stock or the merger of another corporation into the OTP IOP corporation, however, does not constitute change of ownership. The transfer of title to property of the OTP IOP corporation to another corporation(s), and the use of that property for the rendering of partial hospital care by the corporation(s) receiving it is essential for a change of ownership. (3) The lease of all or part of an OTP IOP or a change in the OTPIOP’s lessee constitutes change of ownership.