Equity Interest Transfers Clause Samples

Equity Interest Transfers. For purposes of this Section 13.1: (i) the issuance, assignment, transfer or other disposition of any direct or indirect equity interest in Tenant (whether stock, partnership interests, interests in a limited liability company or otherwise) to any Person or group of related Persons, whether in a single transaction or a series of related or unrelated transactions, in such quantities that after such issuance, assignment, transfer or other disposition Control of Tenant, directly or indirectly, shall have changed, shall be deemed a Transfer; (ii) the entering into by Tenant of a take-over agreement shall be deemed a Transfer; and (iii) any Person or legal representative of Tenant to whom Tenant’s interest under this Lease or the applicable Sublease passes by operation of law, or otherwise, shall be bound by the provisions of this Article XIII. Notwithstanding the foregoing, a transfer of shares of any entity which holds an interest in Tenant by Persons other than those deemed “insiders” within the meaning of the Securities Exchange Act of 1934, as amended, which transfer of shares is effected through the “over-the-counter market” or through any recognized stock exchange, shall not be deemed a Transfer.