Common use of TRANSFER OF CORPORATE SHARES Clause in Contracts

TRANSFER OF CORPORATE SHARES. If Tenant is a corporation (other than a corporation the outstanding voting stock of which is listed on a "national securities exchange", as defined in the Securities Exchange Act of 1934) and if, at any time after execution of this Lease, any part or all of the corporate shares shall be transferred by sale, assignment, bequest, inheritance, operation of law or other disposition (including, but not limited to, such a transfer to or by a receiver or trustee in federal or state bankruptcy, insolvency, or other proceedings) so as to result in a change in the present control of said corporation by the person(s) now owning a majority of said corporate shares, Tenant shall give Landlord notice of such event within fifteen (15) days of the date of such transfer. If any such transfer is made (and regardless of whether Tenant has given notice of same), Landlord may elect to terminate this Lease at any time thereafter by giving Tenant notice of such election, in which event this Lease and the rights and obligations of the parties hereunder shall cease as of a date set forth in such notice which date shall not be less than sixty (60) days after the date of such notice. In the event of any such termination, all Rental (other than any Additional Rental due Landlord by reason of Tenant's failure to perform any of its obligations hereunder) shall be adjusted as of the date of such termination.

TRANSFER OF CORPORATE SHARES. If Tenant is a corporation or is a partnership with a corporate general partner that controls a majority interest or voting control of the partnership (other than a corporation the outstanding voting stock of which is listed on a "national securities exchange", as defined in the Securities Exchange Act of 1934) and if, if at any time after execution of this Lease, Lease any part or all of the corporate shares shall be transferred by sale, assignment, bequest, inheritance, operation of law or other TENANT /s/ MP LANDLORD /s/ DPW disposition (including, but not limited to, such a transfer to or by a receiver or trustee in federal Federal or state State bankruptcy, insolvency, or other proceedings) so as to result in a change in the present control of said corporation by the person(s) person or persons now owning a majority of said corporate shares, Tenant shall give Landlord notice of such event within fifteen (15) days of from the date of such transfer. If any In such transfer is made (event and regardless of whether or not Tenant has given notice of same)such notice, Landlord may elect to terminate this Lease at any time thereafter by giving Tenant notice of such election, in which event this Lease and the rights and obligations of the parties hereunder shall cease as of a date set forth in such notice which date shall not be less than sixty (60) days after the date of such notice. In the event of any such termination, all Rental (other than any Additional Rental due Landlord by reason of resulting from Tenant's failure to perform any of its obligations hereunder) shall be adjusted as of the date of such termination.

TRANSFER OF CORPORATE SHARES. If Tenant is a corporation (other than a corporation the outstanding voting stock of which is listed on a "national securities exchange", ," as defined in the Securities Exchange Act of 1934) and if, if at any time after execution of this Lease, Lease any part or all of the corporate shares shall be transferred by sale, assignment, bequest, inheritance, operation of law or other disposition (including, but BLUE LAKE STANDARD LEASE not limited to, such a transfer to or by a receiver or trustee in federal or state bankruptcy, insolvency, or other proceedings) so as to result in a change in the present control of said corporation by the person(s) now owning a majority of said corporate shares, a transfer shall be deemed to have occurred. Tenant shall give Landlord notice of that such event within transfer is imminent at least fifteen (15) days of prior to the date of such transfer. If any such transfer is made (and regardless of whether Tenant has given notice of same), Landlord may elect to terminate this Lease at any time thereafter by giving Tenant notice of such election, in which event this Lease and the rights and obligations of the parties hereunder shall cease as of a date set forth in such notice which date shall not be less than sixty (60) days after the date of such notice. In the event of any such termination, all Rental Rent (other than any Additional Rental Rent due Landlord by reason of Tenant's failure to perform any of its obligations hereunder) shall be adjusted as of the date of such termination.

TRANSFER OF CORPORATE SHARES. If Tenant is a corporation (other than a corporation the outstanding voting stock of which is listed on a "national securities exchange", as defined in the Securities Exchange Act of 1934) and if, at any time after execution of this Lease, any part or all of the corporate shares shall be transferred by sale, assignment, bequest, inheritance, operation of law or other disposition (including, but not limited to, such a transfer to or by a receiver or trustee in federal or state bankruptcy, insolvency, or other proceedings) so as to result in a change in the present control of said corporation by the person(s) now owning a majority of said corporate shares, Tenant shall give Landlord notice of such event within fifteen (15) days of the date of such transfer. If any such transfer is made (and regardless of whether Tenant has given notice of same), Landlord may elect to terminate this Lease at any time thereafter by giving Tenant notice of such election, in which event this Lease and the rights and obligations of the parties hereunder shall cease as of a date set forth in such notice which date shall not be less than sixty (60) days after the date of such notice. In the event of any such such-termination, all Rental (other than any Additional Rental due Landlord by reason of Tenant's failure to perform any of its obligations hereunder) shall be adjusted as of the date of such termination.