Condition Precedent for Transfer Clause Samples
A Condition Precedent for Transfer clause establishes that certain specific requirements or events must be fulfilled before a transfer of rights, property, or obligations can take place under an agreement. For example, this might include obtaining regulatory approvals, securing third-party consents, or meeting financial milestones prior to the transfer. The core function of this clause is to ensure that all necessary prerequisites are satisfied before the transfer occurs, thereby reducing risk and ensuring that the transfer is valid and enforceable.
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Condition Precedent for Transfer. No Shareholder shall -------------------------------- effect, in any manner, any transfer of any shares of Stock permitted under this Agreement unless the transferee, as a condition precedent to such transfer, consents in writing to the continuance of the terms and conditions of this Agreement by dating and executing a counterpart copy hereof and delivering it to the Bank with copies to the Shareholders.
Condition Precedent for Transfer. Without limiting the foregoing, no Member shall effect, in any manner, any transfer of a Membership Interest unless the proposed transferee, as a condition precedent to such transfer, consents in writing to the continuance of the terms and conditions of this Agreement by dating and executing a counterpart copy thereof and delivering it to the Company with copies to the other Members.