Owner Transfer Sample Clauses

Owner Transfer. Owner shall have the right, without Manager’s consent, to effect any (i) Transfer, in whole or in part, to any Person, provided that any Assignment with respect to this Agreement is effected to a transferee of the Hotel (subject to Owner’s right to terminate this Agreement as set forth in Section 13.3.2), or any (ii) Transfer (a) to any Affiliate of Owner or Person who has a direct or indirect Ownership Interest in Owner; (b) if the proposed transferor is a natural Person, by succession or testamentary disposition upon his or her death; (c) if Owner or any Person having a direct or indirect Ownership in Owner is a public company, then (1) by a direct or indirect transfer of the stock of such public company, (2) by the direct or indirect creation of new stock in such public company, (3) by direct or indirect stock splits or reverse stock splits in such public company, (4) by redemption of stock by such public company, (5) the conversion of such public company from a public to private company, or (6) by any reorganization, merger, consolidation, recapitalization, or similar transaction with respect to such public company, (d) in connection with the estate planning of such transferor to (1) an Immediate Family Member of such interest holder (or to partnerships or limited liability companies controlled solely by one or more of such Immediate Family Members), or (2) a trust established for the benefit of an Immediate Family Member, (e) by devise or descent or by operation of law upon the death or incapacity of a member, partner or shareholder of any direct or indirect owner of an Ownership Interest in Owner. Upon any Assignment by Owner, the transferor shall be relieved of all liabilities and obligations under this Agreement accruing from and after the effective date of such Assignment. Notwithstanding the foregoing, no Transfer by Owner will be to a Prohibited Person or otherwise violate Sanction Laws.

Owner Transfer. If the Owner voluntarily transfers the Premises, ▇▇▇▇▇▇ has the right to enforce this Agreement against the grantee of the Premises if ▇▇▇▇▇▇’s occupancy under this Agreement is to end one hundred eighty (180) days or less after the grantee's interest in the Premises is recorded. If Tenant’s occupancy is to end more than one hundred eighty (180) days after such recordation, ▇▇▇▇▇▇ has no right to enforce the terms of this Agreement unless the grantee agrees in writing to honor this Agreement. If the grantee does not honor this Agreement, Tenant is entitled to a refund of all advance rent paid by ▇▇▇▇▇▇ (and other fees owed to third parties not already lawfully disbursed.) Within twenty (20) days after transfer of the Premises, the grantee or the grantee's agent is required to (i) notify Tenant in writing of the transfer of the Premises, the grantee's name and address, and the date the grantee's interest was recorded; and (ii) advise Tenant whether ▇▇▇▇▇▇ has the right to occupy the Premises subject to the terms of this Agreement or receive a refund of any payments made by Tenant. However, the grantee shall have no obligation under (i) or (ii) above if this Agreement must be honored under the Act or if the grantee agrees in writing to honor this Agreement. Upon termination of the Owner's interest in the Premises, whether by sale, assignment, death, appointment of a receiver of otherwise, the Owner, Owner's agent, or real estate agent is required to transfer all advance rent paid by ▇▇▇▇▇▇ (and other fees owed to third parties not already lawfully disbursed) to the Owner's successor-in-interest within thirty (30) days, and notify Tenant by mail of such transfer and of the transferee's name and address. However, it Tenant's occupancy under this Agreement is to end more than one hundred eighty (180) days after recordation of the interest of the Owner's successor-in-interest in the Premises, and the success-in-interest has not agreed to honor this Agreement, all advance rent paid by ▇▇▇▇▇▇ (and other fees owed to third parties to already lawfully disbursed) must be transferred to Tenant within thirty (30) days.

Owner Transfer. The term ‘Landlord’ shall mean only the owner, for the time being of the Neighborhood Center, and in the event of the transfer by such owner of its interest in the Neighborhood Center and the assumption by the transferee of the covenants, duties and Obligations of Landlord hereunder, such transferor shall thereupon be released and discharged from all covenants and Obligations of Landlord thereafter accruing, but such covenants and Obligations shall be binding during the Lease Term upon each new owner for the duration of such owner’s ownership.