Transfer is Assignment Clause Samples
The 'Transfer is Assignment' clause defines that any transfer of rights or obligations under the agreement is treated as an assignment. In practice, this means that if a party wishes to transfer its interests or duties to another entity, such a transfer will be governed by the rules and restrictions applicable to assignments in the contract. For example, if the contract requires prior written consent for assignments, the same requirement would apply to transfers. This clause ensures that parties cannot circumvent assignment restrictions by labeling a transaction as a transfer, thereby maintaining control over who may assume contractual rights or obligations.
Transfer is Assignment. If Tenant is a corporation or is an unincorporated association or partnership, the issuance of any additional stock and/or the sale, transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership in the aggregate in excess of twenty-five percent (25%) shall be deemed an Assignment hereunder. Tenant agrees to promptly pay as Additional Rent Landlord's reasonable costs and attorneys' fees, not to exceed One Thousand Dollars ($1,000.00) per occurrence, incurred in connection with the processing and documentation of any requested Assignment or Sublease.
Transfer is Assignment. If Tenant is a corporation which under the then current guidelines published by the Commissioner of Corporations of the State of California is not deemed a public corporation, or is an unincorporated association or partnership, the transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership in the aggregate in excess of fifty percent (50%) shall be deemed an Assignment hereunder.
Transfer is Assignment. If Subtenant is a corporation which under the then current guidelines published by the Commissioner of Corporations of the State of California is not deemed a public corporation, or is an unincorporated association or partnership, the transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership in the aggregate in excess of fifty percent (50%) shall be deemed an Assignment hereunder.
Transfer is Assignment. The transfer, assignment or hypothecation of any stock, partnership interest or other equity interest in Tenant, in excess of 25%, in the aggregate, shall be deemed an Assignment hereunder.
Transfer is Assignment. If Tenant is a corporation or is an unincorporated association or partnership, the issuance of any additional stock or the sale, transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership in the aggregate in excess of fifteen percent (15%) shall be deemed an Assignment hereunder. Tenant agrees to promptly pay as Additional Rent Landlord’s costs and attorneys’ fees incurred in connection with the processing and documentation of any requested Assignment or Sublease.
Transfer is Assignment. If Tenant is a corporation which under the then current guidelines published by the Commissioner of Corporations of the State of California is not deemed a public corporation, or is an unincorporated association or partnership, the transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership (made other than to an Affiliate or Successor of Tenant) in the aggregate in excess of fifty percent (50%) shall be deemed an Assignment hereunder, but no such Transfer shall be subject to Section 14.3 unless entered into to avoid the provisions of this Article 14. Notwithstanding the preceding sentence, changes in the number and/or identity of constituent partners, members or shareholders of Tenant due to admission of new partners, members or shareholders or withdrawal of existing partners, members or shareholders in the ordinary course of business or due to death or retirement shall not be considered for purposes determining an Assignment hereunder.