SALE OF DISTRIBUTORSHIP Sample Clauses

SALE OF DISTRIBUTORSHIP. Except as otherwise set forth in this Agreement, Consignee shall have the right, in his/her/its sole discretion, to sell and determine the price of the sale of any portion or all of their territory to a third party. Consignee acknowledges that third party purchasers may finance their purchases through loans and that the inability of a purchaser to obtain a loan for the price set by Consignee does not represent an infringement of Consignee’s right hereunder to determine the price of the sale of a portion or all of Consignee’s territory to a third party.
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SALE OF DISTRIBUTORSHIP. Except as otherwise set forth in this Agreement, Consignee shall have the right, in his/her/its sole discretion, to sell and determine the price of the sale of any portion or all of their territory to a third party. Consignee acknowledges that third party purchasers may finance their purchases through loans and that the inability of a purchaser to obtain a loan for the price set by Consignee does not represent an infringement of Xxxxxxxxx’s right hereunder to determine the price of the sale of a portion or all of Consignee’s territory to a third party. The Distributorship may not be sold, conveyed or transferred by Consignee in whole or in part without the prior written approval of Bakery. Bakery will grant such approval with respect to a proposed sale if in Bakery’s commercially reasonable discretion it determines that (i) Consignee has given Bakery proper and timely notice of such proposed sale as required by Paragraph 17, (ii) Bakery has not exercised, or has in writing refused to exercise, its Right of First Refusal with respect to such proposed sale, (iii) the Distributorship or portion of Distributorship being sold, and the remainder retained by Consignee if applicable, can provide reasonable, sustainable income commensurate with the geographic territory, (iv) all Territories involved in the sale remain contiguous, (v) the proposed purchaser provides Bakery with a reasonable plan to provide adequate service to the Distributorship in Bakery’s reasonable discretion, and (vi) the proposed purchaser is able to secure necessary financing, including, if applicable, satisfying all requirements for any loan provided by a third party, including any third party loan facilitated through Bakery. For the avoidance of doubt, nothing in this Agreement shall permit Bakery to condition its approval of a proposed sale solely on whether the prospective buyer has experience as a distributor of baked products. In addition, where such proposed sale involves the division of the Territory or the sale of only a portion of the Distributorship, such proposed sale is subject to, and may not be effected without, Bakery’s prior written approval of the division of Territory sought to be effected thereby. In the event Consignee has placed his/her/its Distributorship up for sale and a prospective buyer makes an inquiry about the possible purchase of Consignee’s Distributorship, Bakery shall contact that prospective buyer within ten (10) business days of receipt of such inquiry.
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SALE OF DISTRIBUTORSHIP. The sale of distributorship will be subject to the following conditions :
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SALE OF DISTRIBUTORSHIP. The sale of distributorship will be subject to the following conditions : a) Only a distributorship in good standing with the Company and having the rank of DD and above and not in violation of the Rules & Regulations may be sold. The Distributor must write in to the Company for approval before any sale of distributorship can be made. Approval is based on the review of the proposed purchaser's qualification and intention to manage and will be subject to the consent and approval of the Company. b) The sale of the distributorship follows the below preferential order : i) First priority - The distributor's immediate sponsor ii) Second priority - Any upline Distributor iii) Third Priority - One of the Director downlines sponsored by the Distributor iv) Fourth Priority - One of the Distributors in the Company with the rank of Director and above c) Upon approval of the sale by the Company, a sale and purchase agreement must be signed between the buyer and seller. A copy of the duly stamped sale and purchase agreement must be submitted to the Company for safekeeping. d) Any Distributor who has sold his/her distributorship can only apply to join as the Company's Distributor after one year from the date of the sale. Accordingly, he/she will start from the very beginning with no link to previous downlines. e) All bonuses accrued to the previous distributorship will be paid to the new owners. The awards and recognitions previously awarded to the distributorship will be transferred to the new owner, if the new owner is presently a Distributor of the Company. However, the new owner has to attain the required qualification before he/she is entitled to acquire any due awards and recognition of the transferred distributorship. f) Selling and buying an existing distributorship as a means of changing distributorship is generally discouraged. The Company will closely scrutinize such transactions for violation of other important policies. g) The Company reserves the right to disapprove any sale of distributors without having to give any reason.
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Related to SALE OF DISTRIBUTORSHIP

  • Purchase and Sale of Assets On and subject to the terms and conditions of this Agreement, the Buyer agrees to purchase from the Seller, and the Seller agrees to sell, transfer, convey, and deliver to the Buyer, all of the Acquired Assets at the Closing for the consideration specified below in this Section 2.

  • Purchase and Sale of Shares 2.1.1. Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, Seller shall sell, transfer and deliver to Buyer, free and clear of all Liens (other than Liens under the Securities Act and any other applicable state or foreign securities Laws), and Buyer shall purchase from Seller, all right, title and interest in and to the Shares.

  • Purchase and Sale of Property Subject to and in accordance with the ----------------------------- terms and provisions of this Agreement, Seller hereby agrees to sell to Purchaser and Purchaser hereby agrees to purchase from Seller, the Property, which term "Property" shall mean and include the following:

  • Sale of Shares The Issuer grants to Distributors the right to sell shares on behalf of the Issuer during the term of this Agreement and subject to the registration requirements of the Securities Act of 1933, as amended ("1933 Act"), and of the laws governing the sale of securities in the various states ("Blue Sky Laws") under the following terms and conditions: Distributors (i) shall have the right to sell, as agent on behalf of the Issuer, shares authorized for issue and registered under the 1933 Act, and (ii) may sell shares under offers of exchange, if available, between and among the funds advised by Fidelity Management & Research Company ("FMR") or any of its affiliates.

  • Purchase and Sale of the Shares Upon the terms and subject to the conditions of this Agreement, at the Closing, the Seller shall sell to the Purchaser, and the Purchaser shall purchase from the Seller, the Shares.

  • If there is a permitted secondary offering (1) If the Issuer is an emerging issuer and you have sold in a permitted secondary offering 10% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/6 of your remaining escrow securities 12 months after the listing date 1/5 of your remaining escrow securities 18 months after the listing date 1/4 of your remaining escrow securities 24 months after the listing date 1/3 of your remaining escrow securities 30 months after the listing date 1/2 of your remaining escrow securities 36 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 16 2/3%.

  • Sale of Assets The Company or the Bank sells to a third party all or substantially all of its assets.

  • DEALERS, DISTRIBUTORS, AND/OR RESELLERS Upon Contract execution and throughout the Contract term, Supplier must provide to Sourcewell a current means to validate or authenticate Supplier’s authorized dealers, distributors, or resellers relative to the Equipment, Products, and Services offered under this Contract, which will be incorporated into this Contract by reference. It is the Supplier’s responsibility to ensure Sourcewell receives the most current information.

  • Sale of Business If the Employer sells the business, they shall inform the other person or employer buying the business that there is an existing Collective Agreement in effect, and that as a condition of any such sale, the other person or employer buying the business shall assume all responsibilities and obligations accruing by virtue of the Collective Agreement, and that the other person or employer buying the business shall agree to continue to operate the business in the City of Winnipeg.

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