Termination of Ownership Interest Sample Clauses

Termination of Ownership Interest. Upon termination of a Member’s Ownership Interest except in connection with the death of a Member (see Section 4.6.2), the amount in such Member's Capital Account (including the Initial Capital Contribution) will automatically be redeemed in exchange for debt. The Company shall repay the debt within 3 years of the termination of the Ownership Interest, with interest accruing at the discount rate (as set by the Federal Reserve Bank of Boston) plus 2% on the amount outstanding at the end of each Fiscal Year. The Company, in settling a Member’s Capital Account, shall have the right to set off any and all indebtedness of the Member to the Company.
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Termination of Ownership Interest. In the event of the termination of this Residence Agreement under Section 2 of this Article, Homeowner shall forthwith surrender Homeowner's Ownership Certificate endorsed' in form satisfactory to Nashaquisset and deliver the Ownership Interest to Nashaquisset. Nashaquisset shall treat such Ownership Interest as treasury stock. Nashaquisset may, at any time after such termination, execute and deliver a new Residence Agreement for the Home and issue the requisite Ownership Interest of Nashaquisset. Upon such issuance, the Ownership Certificate owned by Homeowner shall be automatically canceled and rendered null and void. Any net proceeds received by Nashaquisset on account of the sale, issuance or transfer of the shares of capital stock allocable to the Home shall be applied in the manner set forth in the Articles of Organization and the By-Laws. Homeowner shall remain liable for any and all such obligations in excess of said proceeds.
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Termination of Ownership Interest. A Member’s Ownership Interest shall terminate upon the occurrence of any of the following: Voluntary Withdrawal. A Member may resign from the Company, terminating such Member’s Ownership Interest by filing with the [DESIGNATED OFFICER] of the Company a written notice of resignation. The resignation shall become effective, and the resigning Member’s Ownership Interest shall terminate, immediately upon the filing of such resignation without any action on the part of the Company.
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Termination of Ownership Interest. A Member’s Ownership Interest shall terminate upon the occurrence of any of the following:
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Related to Termination of Ownership Interest

  • No Ownership Interest Nothing contained in this Agreement shall be deemed to vest in Parent any direct or indirect ownership or incidence of ownership of or with respect to the Covered Shares. All rights, ownership and economic benefits of and relating to the Covered Shares shall remain vested in and belong to the Stockholder, and Parent shall have no authority to direct the Stockholder in the voting or disposition of any of the Covered Shares, except as otherwise provided herein.

  • Transfer of Ownership Trust..........................................................

  • Liability of Owner or Beneficial Owner for Taxes If any tax or other governmental charge shall become payable by the Custodian or the Depositary with respect to any Receipt or any Deposited Securities represented by any Receipt, such tax or other governmental charge shall be payable by the Owner or Beneficial Owner of such Receipt to the Depositary. The Depositary may refuse to effect any transfer of such Receipt or any withdrawal of Deposited Securities represented by American Depositary Shares evidenced by such Receipt until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Owner or Beneficial Owner thereof any part or all of the Deposited Securities represented by the American Depositary Shares evidenced by such Receipt, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge and the Owner or Beneficial Owner of such Receipt shall remain liable for any deficiency.

  • Assignment of Membership Interest A Member may not assign the Member’s interest in the Company except with the written consent of all the other Members of record. Any such consent to assignment automatically entitles the assignee to become a Member. A Member’s membership interest may be evidenced by a certificate of membership interest issued by the Company.

  • Membership Interest The Member shall own one hundred percent (100%) of the membership interests in the LLC, and all profits and losses shall be allocated to the Member.

  • Certificate and Transfer of Interest 8 SECTION 3.1 Ownership ................................................................ 8 SECTION 3.2 The Certificate .......................................................... 8 SECTION 3.3 Authentication of Certificate ............................................ 8 SECTION 3.4 Registration of Transfer and Exchange of Certificate ..................... 9 SECTION 3.5 Mutilated, Destroyed, Lost or Stolen Certificates ........................ 9

  • Ownership of Owner No By a Deed of Conveyance dated 10th May, 2013 and registered in the Office of the Additional District Sub-Registrar, Chandannagore, Hooghly in Book No. I, CD Volume No.5, Pages from 4056 to 4073, being Deed No.01491 for the year 2013, Jubilant First Trust Healthcare Limited sold to Kalashdhan Plot Managers Private Limited, the Owner No. 1.33 herein, undivided 1/47th (one-forty seventh) share in the Said Property.

  • Change of Ownership Contractor agrees that if there is a change or transfer in ownership of Contractor’s business prior to completion of this Contract, the new owners shall be required under terms of sale or other transfer to assume Contractor’s duties and obligations contained in this Contract and complete them to the satisfaction of County.

  • Partnership Interest Except as provided in this Agreement and the Transferor Partnership Agreement, no right (contingent or otherwise) to purchase or acquire the Transferor Partnership Interests held by such Transferor Partner is authorized or outstanding. Except as disclosed on Schedule 5.34, such Transferor Partner owns and holds the Transferor Partnership Interests set forth opposite its name on Schedule I beneficially and of record free and clear of any liens, pledges and encumbrances of any kind whatsoever and free of any rights of assignment of any third party. Prior to the Closing, all liens disclosed on Schedule 5.34 will be paid in full. Upon the Closing, good, valid, marketable, and indefeasible title to such Transferor Partnership Interests shall be vested in the BRI Partnership free and clear of any lien, claim, charge, pledge, encumbrance, limitation, agreement or instrument whatsoever. The provisions of this Section 5.34 shall survive the Closing indefinitely.

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