Common use of Transfer Upon Death or Disability Clause in Contracts

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. Upon your death or disability or, if you are a Business Entitycorporation, limited liability company or partnership, the death or disability of the Managing Owner or the owner of a controlling interest in you, we may require you (your or such that owner’s 's executor, administrator, conservator, guardian or other personal representative) to representative must transfer your interest in this Agreement (or such that owner’s 's interest in you) you to a third party. Such The disposition of this Agreement or the interest in you (including, without limitation, transfer by bequest or inheritance) must be completed within the time we designatea reasonable time, not less than 1 month but not more than 6 to exceed twelve (12) months from the date of death or disability. Such disposition , and will be subject to all of the terms and conditions applicable to transfers contained in this sectionSection. A failure to transfer your interest in this Agreement or the ownership interest in you within this period of time constitutes is a breach of this Agreement. For purposes of this Agreement, the The term “"disability” " means a mental or physical disability, impairment or condition that is reasonably expected to prevent or actually does prevent you you, the Managing Owner or an owner of a controlling interest in you from managing and operating the RestaurantFACILITY.

Transfer Upon Death or Disability. Upon your death or disability or, if you are a Business Entitycorporation, limited liability company or partnership, the death or disability of the Managing Owner or the owner of a controlling interest in you, we may require you (your or such the owner’s 's executor, administrator, conservator, guardian or other personal representative) to representative must transfer your interest in this Agreement (or such the owner’s 's interest in you) you to a third party. Such The disposition of this Agreement or the interest in you (including, without limitation, transfer by bequest or inheritance) must be completed within the time we designatea reasonable time, not less than 1 month but not more than 6 to exceed six (6) months from the date of death or disability. Such disposition , and will be subject to all of the terms and conditions applicable to transfers contained in this sectionSection. 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 In 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 you, the Managing Owner or an owner of a controlling interest in you from managing and operating the RestaurantRESTAURANT.