Transfer Upon Death or Disability. Upon your death or disability or, if you are a Business Entity, the death or disability of the owner of a controlling interest in you, we may require you (or such owner’s executor, administrator, conservator, guardian or other personal representative) to transfer your interest in this Agreement (or such owner’s interest in you) to a third party. Such disposition (including, without limitation, transfer by bequest or inheritance) must be completed within the time we designate, not less than 1 month but not more than 6 months from the date of death or disability. Such disposition will be subject to all of the terms and conditions applicable to transfers contained in this section. A failure to transfer your interest in this Agreement or the ownership interest in you within this period of time constitutes a breach of this Agreement. For purposes of this Agreement, the term “disability” means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you or an owner of a controlling interest in you from managing and operating the Restaurant.
Transfer Upon Death or Disability. 35 SECTION 11.5 OUR RIGHT OF FIRST PURCHASE.....................................................................36
Transfer Upon Death or Disability. (a) If any Franchise Owner becomes disabled from any cause and is unable to perform his or her obligations under this Agreement for a continuous period in excess of 3 consecutive months, or on the death of the Franchise Owner, you (or your legal representative) will within 30 days after the 3 months of disability or death, provide and maintain a replacement satisfactory to us to perform the obligations. If a replacement is not provided or maintained as required, we may hire and maintain your replacement. You will compensate the replacement for his or her services at the rate we establish in our reasonable discretion. For all purposes of this Agreement, any period of disability that is interrupted by a return to active work and proper performance of duties under this Agreement for 14 days or more is deemed continuous.
(b) If: (i) any individual who holds a 50% or greater voting or ownership interest in the Franchisee (or in any Franchise Owner); or (ii) you die during the Term, your interests in the Franchisee (or in any Franchise Owner) or in this Agreement are required to be transferred within 12 months of the death to an approved transferee in accordance with the terms of this ARTICLE.
Transfer Upon Death or Disability. Upon the death or permanent disability (mental or physical) of any person with an interest in this Agreement, in you, or in all or substantially all of the assets of the Franchised Business, the executor, administrator, or personal representative of such person shall transfer such interest to a third party approved by us within twelve (12) months after such death or disability. Such transfers, including, without limitation, transfers by devise or inheritance, shall be subject to the same conditions as any inter vivos transfer, except that the transfer fee shall be waived. In the case of transfer by devise or inheritance, however, if the heirs or beneficiaries of any such person are unable to meet the conditions of this Section 12, the executor, administrator, or personal representative of the decedent shall transfer the decedent’s interest to another party approved by us within twelve (12) months, which disposition shall be subject to all the terms and conditions for transfers contained in this Agreement. We may, at our option, assume management and control of the Franchised Business during such twelve (12) month period and shall be paid a reasonable monthly management fee for our services as determined by us. If the interest is not disposed of within such period, we may, at our option, terminate this Agreement pursuant to Section 10.2.4 of this Agreement.
Transfer Upon Death or Disability. Upon your death or disability or, if you are a corporation, limited liability company or partnership, the death or disability of the owner of a controlling interest in you, your or such owner's executor, administrator, conservator, guardian or other personal representative must transfer your interest in this Agreement or such owner's interest in you to a third party or owner. Such disposition of this Agreement or the interest in you (including, without limitation, transfer by bequest or inheritance) must be completed within a reasonable time, not to exceed nine (9) months from the date of death or disability, and will be subject to all of the terms and conditions applicable to transfers contained in this Section. A failure to transfer your interest in this Agreement or the ownership interest in you within this period of time constitutes a breach of this Agreement. For purposes hereof, the term "disability" means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you or an owner of a controlling interest in you from managing and operating the STORE.
Transfer Upon Death or Disability. Upon your death or disability or, if you are a Business Entity, the death or disability of the owner of a controlling interest in you, your or such owner's executor, administrator, conservator, guardian or other personal representative must transfer your interest in this Agreement or such owner's interest in you to a third party. Such disposition of this Agreement or the interest in you (including, without limitation, transfer by bequest or inheritance) must be completed within a reasonable time, not to exceed 6 months from the date of death or disability, and will be subject to all of the terms and conditions applicable to transfers contained in Section 18. A failure to transfer your or such owner's interest within this period of time constitutes a breach of this Agreement. For purposes of this Agreement, the term "disability" means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you or an owner of a controlling interest in you from managing and operating the WOB Tavern.
Transfer Upon Death or Disability. Upon your (or your controlling owner’s) death or disability (a “Disabling Event”), your (or your controlling owner’s) executor, administrator, conservator, guardian or other personal representative must transfer your interest in this Agreement (or your controlling owner’s interest in you) to a third party. Such transfer (including, without limitation, transfer by bequest or devise) must be completed within 6 months from the date of the Disabling Event, and will be subject to all of the terms and conditions applicable to transfers contained in this Agreement. For purposes of this Agreement, the term “disability” means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you (or your controlling owner) you from adequately managing your Area Representative Business. A failure to transfer your interest in this Agreement (or your controlling owner’s interest in you) within 6 months from the Disabling Event constitutes a breach of this Agreement and grounds for termination for cause under Section 23.
Transfer Upon Death or Disability. Upon the Employee's death or a disability which reasonably prevents Employee from performing his duties and responsibilities under Section 2.1 hereof, all Options which have not vested prior to such death or disability will be deemed to have accelerated and vested immediately prior to such death or disability, and, in the event of Employee's death, all rights with respect to Options provided for under this Agreement will transfer to the Employee's representative or beneficiary. All Options will be canceled one year after both of the following have occurred: (a) the Employee dies or becomes disabled as provided above, and (b) the Shares have been registered so that they can be sold by the Employee or his representative.
Transfer Upon Death or Disability. Upon your Trained Owner’s or Operator’s (if your Operator also is one of your owners) death or disability, the Trained Owner’s or Operator’s executor, administrator, conservator, guardian, or other personal representative must transfer the Trained Owner’s or Operator’s ownership interest in you to a third party (which may be the Trained Owner’s or Operator’s heirs, beneficiaries, or devisees). That transfer must be completed within a reasonable time, not to exceed nine (9) months from the date of death or disability, and is subject to all of the terms and conditions in this Section 12. Failure to transfer the Trained Owner’s or Operator’s ownership interest in you within this time period is a breach of this Agreement. The term “disability” means a mental or physical disability, impairment, or condition that is reasonably expected to prevent or actually does prevent the Trained Owner or Operator from supervising and overseeing the FACILITY’s development and operation.
Transfer Upon Death or Disability. If you or your Owners die, leaving, in our discretion, no fully experienced survivor capable of carrying on the business of the Office in a satisfactory manner, or shall become disabled from performing their functions for a period of time that the viability of the Office is endangered in our reasonable opinion, or if you cease to operate under the provisions of this Agreement for any other reason, we shall be entitled, at our option, to hire a manager to operate the day-to-day business at your cost, or to cause the immediate assignment of your rights and interest in this Agreement to us. If an assignment occurs as the result of the death or disability of you or your Owners and if the Office has been in operation for twelve
