Payment Upon Transfer or Sale of Lessee Business or Stock Sample Clauses

Payment Upon Transfer or Sale of Lessee Business or Stock. Xxxxxx recognizes and agrees that: (i) the experience of Lessee was given special consideration by Xxxxxx in the selection process which resulted in the award of this Lease; (ii) the qualifications and identity of Lessee are of particular concern to the community and Lessor; and (iii) it is partially because of such qualifications and identity that Lessor is entering into this Lease. Accordingly, at all times prior to the date of transfer: (A) the Lessee’s Equity Contribution shall be maintained; (B) Lessee shall retain voting and operational control of Lessee; (C) Lessee shall retain voting and operational control of each subtenant then in existence; and (D) Lessee shall own more than Fifty Percent (50%) of the ownership interests in each subtenant then in existence. Furthermore, at all times prior to the Lessee’s date of transfer, there shall be no Leasehold Estate transfer, Lessee transfer of Control or Sub-leasehold Estate transfer. Any waiver of the foregoing requirement shall require the Executive Director’s prior written consent, which may be granted or withheld in his or her sole and absolute discretion. During the initial five (5) years of the Term, the Transfer Fee shall be 2.5% of the Gross Sales Amount; between Years 5 to 10 of the Term, the Transfer Fee shall be 1.5% of the Gross Sales Amount; between Years 10-15 of the Term, the Transfer Fee shall be 1% of the Gross Sales Amount; and after Year 15 of the Term, the Transfer Fee shall be 75% of the Gross Sale Amount. The Lessee shall pay to the Lessor the Transfer Fee at the time the transfer becomes effective, or in the case of the sale of the Lessee’s stock at the time the shares of stock are sold.
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Related to Payment Upon Transfer or Sale of Lessee Business or Stock

  • Pay Upon Transfer The employee’s salary in the new position will be their former salary or that of the next available step in the pay progression schedule for the new title which provides for an increase in salary if no equal pay progression step exists. If the employee’s salary in the former position is greater than the maximum salary applicable to the new title, the employee’s salary will be red circled until the maximum salary for the new title meets the employees’ red circled rate. Such employees shall, however, be eligible for fifty percent (50%) of the negotiated general increase occurring during the term of the Agreement. Lateral transfers shall not affect anniversary dates of employment for pay progression purposes.

  • Conditions to Payment, Transfer or Exchange Freddie Mac, its agent or any other person potentially required to withhold with respect to payments on a Note shall have the right to require a Holder of a Note, as a condition to payment of principal of or interest on such Note, or as a condition to transfer or exchange such Note, to present at such place as Freddie Mac, its agent or such other person shall designate a certificate in such form as Freddie Mac, its agent or such other person may from time to time prescribe, to enable Freddie Mac, its agent or such other person to determine its duties and liabilities with respect to (i) any taxes, assessments or governmental charges which Freddie Mac, the Global Agent, the Exchange Administrator or such other person, as the case may be, may be required to deduct or withhold from payments in respect of such Note under any present or future law of the United States or jurisdiction therein or any regulation or interpretation of any taxing authority thereof; and (ii) any reporting or other requirements under such laws, regulations or interpretations. Freddie Mac, its agent or such other person shall be entitled to determine its duties and liabilities with respect to such deduction, withholding, reporting or other requirements on the basis of information contained in such certificate or, if no certificate shall be presented, on the basis of any presumption created by any such law, regulation or interpretation, and shall be entitled to act in accordance with such determination.

  • Transfer Cancellation Requests and Refused Transfers You may cancel a transfer at any time until it begins processing (as shown in the Service). We will, to the extent permitted by law, make reasonable attempts to return any unclaimed, refused, refunded, prohibited, or denied transfer to your Account that we debited for the funds transfer. If this is unsuccessful (for example, the Eligible Transaction Account has been closed) we will make reasonable attempts to otherwise return the funds to you.

  • Retention of Non-Transferred Obligations Any and all other rights and responsibilities of the NTO related to the ownership or operation of its transmission assets or to its rights to withdraw its assets from ISO control, that have not been specifically transferred to the ISO under this Agreement or otherwise addressed under this Agreement, will remain with the NTO.

  • Permitted Transfers Within Escrow 5.1 Transfer to Directors and Senior Officers

  • Restriction on Transfer, etc Unless it is expressly permitted in this Agreement, you will not sell, transfer, assign, mortgage, enter into a derivative transaction concerning, or otherwise deal in any way with your escrow securities or any related share certificates or other evidence of the escrow securities. If a Securityholder is a private company controlled by one or more principals (as defined in section 3.5 of the Policy) of the Issuer, the Securityholder may not participate in a transaction that results in a change of its control or a change in the economic exposure of the principals to the risks of holding escrow securities.

  • Transfer or Deletion of Student Data The Provider shall review, on an annual basis, whether the Student Data it has received pursuant to the DPA continues to be needed for the purpose(s) of the Service Agreement and this DPA. If any of the Student Data is no longer needed for purposes of the Service Agreement and this DPA, the Provider will provide written notice to the LEA as to what Student Data is no longer needed. The Provider will delete or transfer Student Data in readable form to the LEA, as directed by the LEA (which may be effectuated through Exhibit D of the DPA), within 30 calendar days if the LEA requests deletion or transfer of the Student Data and shall provide written confirmation to the LEA of such deletion or transfer. Upon termination of the Service Agreement between the Provider and LEA, Provider shall conduct a final review of Student Data within 60 calendar days. If the LEA receives a request from a parent, as that term is defined in 105 ILCS 10/2(g), that Student Data being held by the Provider be deleted, the LEA shall determine whether the requested deletion would violate State and/or federal records laws. In the event such deletion would not violate State or federal records laws, the LEA shall forward the request for deletion to the Provider. The Provider shall comply with the request and delete the Student Data within a reasonable time period after receiving the request. Any provision of Student Data to the LEA from the Provider shall be transmitted in a format readable by the LEA.

  • CONDITIONS APPLICABLE PENDING TRANSFER As has already been referred to in this agreement, the common property will be owned and controlled by a body corporate for and on behalf of all owners including the purchaser. As the body corporate will only be established once the first transfer of a unit in the development has occurred, the Seller shall from the completion date and until the date of the establishment of the body corporate bear the rights and obligations of the body corporate. In this regard, during the period from the completion date until date of transfer, the following conditions shall apply:

  • 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.

  • Can I Roll Over or Transfer Amounts from Another Xxxxxxxxx Education Savings Account? Amounts may be “rolled over” from one Xxxxxxxxx Education Savings Account to another Xxxxxxxxx Education Savings Account benefiting the same beneficiary. In addition, amounts may be rolled over without any tax liability to benefit a member of the family, as defined in paragraph 2, of the beneficiary, provided that they have not attained age 30 at the time of the rollover. Rollovers between Xxxxxxxxx Education Savings Accounts may be made once per year and must be accomplished within 60 days after the distribution. 529 Plans cannot be transferred or rolled over into a Xxxxxxxxx Education Savings Account.

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