CORPORATE TRANSFER EVENT Clause Samples
A Corporate Transfer Event clause defines the terms and conditions under which a party’s rights or obligations under an agreement may be transferred due to significant corporate changes, such as mergers, acquisitions, or reorganizations. Typically, this clause outlines what constitutes a transfer event, the process for notifying the other party, and any required consents or approvals. Its core function is to provide clarity and predictability in the event of major corporate changes, ensuring that all parties understand how their contractual relationship may be affected and reducing the risk of disputes.
CORPORATE TRANSFER EVENT. As used herein, a “Corporate Transfer Event” shall mean the occurrence, prior to the Early Termination Notice Deadline, of a merger or consolidation of Tenant into an unrelated or unaffiliated corporation, limited liability company or limited liability partnership and the permanent discontinuance of business operations in Portland Oregon by the resulting entity. Tenant shall provide Landlord with written notice of a Corporate Transfer Event within 30 days after the occurrence thereof.