ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. Concessionaire shall not assign this Agreement or sell controlling interest in the Concession without prior written approval from Department. Any attempt to assign or sell controlling interest without prior written approval from Department shall be a material breach of this Agreement, subject to Suspension of Operations and/or Termination in accordance with the terms and conditions set forth in Paragraphs 9 and 10.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. The License is personal to Licensee. Licensee shall not assign the Agreement or sell controlling interest in the License. Any attempt to assign or sell controlling interest shall be a material breach of the Agreement, subject to Suspension of Operations and/or Revocation in accordance with the terms and conditions set forth in Paragraphs 8 and 9.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. Concessionaire shall not assign this Agreement or sell controlling interest in the Concession. Any attempt to assign or sell controlling interest shall be subject to Suspension of Operations and/or Termination in accordance with the terms and conditions set forth in Paragraphs 9 and 10.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. Operator shall not assign this Agreement or sell controlling interest in the Vessel Operation without prior written approval from Department. Any attempt to assign or sell controlling interest without prior written approval from Department shall be a material breach of this Agreement, subject to Suspension of Operations and/or Termination in accordance with the terms and conditions set forth in Paragraphs 8 and 9.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. This Concession Agreement is personal to Concessionaire. Concessionaire shall not assign this Agreement or sell controlling interest in the Concession.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. This License Agreement is personal to Licensee. Licensee shall not assign this Agreement or sell controlling interest in the License.
ASSIGNMENT OF AGREEMENT OR SALE OF INTERESTS. A. Operator and/or any person or entity which owns a controlling interest, as herein defined, in Operator's ownership (collectively referred to as the Operator for the purposes of this section) shall not assign or otherwise sell or transfer responsibilities under this Agreement or the operations authorized hereunder, nor sell or otherwise assign or transfer, including, without limitation, mergers, consolidations, reorganizations, or other business combinations, a controlling interest in such operations, this Agreement, or a controlling interest in Operator's ownership, as defined in this Agreement, without the prior written approval of Department.
B. Operator shall advise the person(s) or entity proposing to enter into a transaction described above that Department shall be notified and that the proposed transaction is subject to review and approval by Department. Operator shall request in writing Department's approval of the proposed transaction and shall promptly provide Department with all relevant documents related to the transaction, and the names and qualifications of the person(s) or entity involved in the proposed transaction.
C. Department, in exercising the discretionary authority set forth herein, shall, among other matters, take into consideration the management qualifications of individuals or entities which would thereby obtain an interest in the facilities or services authorized hereunder, the experience of such individuals or entities with similar operations, and the ability of such individuals or entities to operate the concession authorized under this Agreement in the public interest.
D. For the purpose of this Agreement, the term "controlling interest" in an Operator's ownership shall mean, in the instance of a corporate Operator, an interest beneficial or otherwise of sufficient outstanding voting securities or capital of Operator so as to permit exercise of substantial managerial influence over the operations of the Operator, and, in the instance of a partnership, limited partnership, joint venture, or individual entrepreneurship, any beneficial ownership of the capital assets of the Operator sufficient to permit substantial managerial influence over the operations of the Operator. Department will determine whether or not an interest in an Operator constitutes a controlling interest within the meaning hereof.
E. Operator shall not enter into any agreement with any entity or person except employees of the Operator to exercise substantial...
