Prohibited Assignment Sample Clauses
Prohibited Assignment. The Employee shall have no right to exchange, convert, encumber or dispose of the rights to receive the benefits or payments under this Agreement, which payments, benefits and rights thereto are expressly declared to be non-assignable and non-transferable.
Prohibited Assignment. Licensee makes an assignment for the benefit of its creditors, admits in writing its inability to pay its debts as they become due, commences or is the subject of any proceeding under law relating to any bankruptcy, arrangement, insolvency, or readjustments of its debt, which proceeding is not dismissed within sixty (60) days after commencement; and/or
Prohibited Assignment. If Borrower attempts to assign its respective rights under this Agreement or under any other Loan Document or any interest herein or therein in contravention of this Agreement or any of the Loan Documents.
Prohibited Assignment. Licensee enters into an Assignment in violation of Article 16 (Assignment).
Prohibited Assignment. Unless in each of the following instances the General Partners shall give their express written consent, no Units may be assigned or otherwise transferred:
(a) to a minor or incompetent (unless a guardian, custodian or conservator has been appointed to handle the affairs of such person);
(b) to any person or entity not permitted to be a transferee under law including, in particular but without limitation, applicable state securities laws which generally provide that, except in the case of a transfer by gift, inheritance, intra-family transfer, or family dissolution, each transferee of Units must acquire not less than five Units and must satisfy similar investor suitability standards to those which were applicable to the original offering of Units, and that following a transfer of less than all his Units, each transferor must retain a sufficient number of Units to satisfy the minimum investment standards applicable to his initial purchase of Units;
(c) in the case of a proposed assignment of Units, to any assignee if such assignee would hold after such Assignment a fraction of a Unit; or
(d) to any person if, in the opinion of Counsel to the Partnership, such transfer would result in the termination under the Code of the Partnership's taxable year or of its status as a partnership. Any such attempted Assignment without the express written consent of the General Partners shall be void and ineffectual and shall not bind the Partnership. In the case of a proposed Assignment which is prohibited solely under clause (d) above, however, the Partnership shall be obligated to permit such Assignment to become effective if and when, in the opinion of Counsel to the Partnership, such Assignment would no longer have either of the adverse consequences under the Code which are specified in that clause.
Prohibited Assignment. Instructor attempts to make, or makes, an assignment for the benefit of its creditors, admits in writing to its inability to pay its debts as they come due, commences or is the subject of any proceeding under law relating to bankruptcy, insolvency, or readjustments of its debt, which proceeding is not dismissed within sixty (60) days after commencement;
Prohibited Assignment. No Limited Partner Interests may be Assigned or otherwise transferred:
(a) to a non-resident alien;
(b) to a minor or incompetent (unless a guardian, custodian or conservator has been appointed to handle the affairs of such Person);
(c) to any Person not permitted to be a transferee under law including, in particular but without limitation, applicable state securities laws which generally provide that, except in the case of a transfer by gift, inheritance, intra-family transfer, or family dissolution, each transferee of Limited Partner Interests must acquire not less than 100 Limited Partner Interests, and that following a transfer of less than all his Limited Partner Interests, each transferor must retain a sufficient number of Limited Partner Interests to satisfy the minimum investment standards applicable to his initial purchase of Limited Partner Interests;
(d) to any Person if such Person would hold after such Assignment less than 100 Limited Partner Interests unless the General Partners shall give specific written consent to such Assignment;
(e) to any Person if, in the opinion of Counsel to the Partnership, such transfer would result in the assets of the Partnership being "plan assets" or the transactions hereunder being prohibited transactions under ERISA or the Code; or
(f) to any Person if, in the opinion of Counsel to the Partnership, such transfer would result in termination under the Code of the Partnership's taxable year or of its status as a partnership. Any such attempted Assignment without the express written consent of the General Partners shall be void and ineffectual and shall not bind the Partnership. In the case of a proposed Assignment which is prohibited solely under clause (d) above, however, the Partnership shall be obligated to permit such Assignment to become effective if and when, in the opinion of Counsel to the Partnership, such Assignment would no longer have either of the adverse consequences under the Code which are specified in that clause.
Prohibited Assignment. If any Borrower Party attempts to assign or delegate or encumber its rights under this Agreement or under any other Loan Document or any interest herein or therein except in accordance with the terms and conditions of this Agreement; or
Prohibited Assignment. Licensee enters into an Assignment in violation of Article 16 (Assignment) if the failure continues for 30 days after written notice from City to Licensee of such failure.
Prohibited Assignment. Company assigns this License in violation of Section 15.