Common use of Transfer Upon Death Clause in Contracts

Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) may pass in accordance with such person's will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate, without our consent; provided that (i) the Transfer is to a Family Member or to a legal entity formed by such Family Member(s), and (ii) within one year after the death, such Family Member(s) or entity meets all our then current requirements for an approved applicant.

Appears in 4 contracts

Samples: Franchise License Agreement (Apple Suites Inc), Franchise License Agreement (Apple Suites Inc), Franchise License Agreement (Apple Suites Inc)

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Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) or this Agreement may pass transfer in accordance with such person's ’s will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate’s estate (“Transfer Upon Death”), without our consent; , provided that that: (i) the Transfer Upon Death is to a Family Member or to a legal entity formed by such Family Member(s), ; and (ii) within one (1) year after the death, such Family Member(s) or entity meets all of our then current requirements for an approved applicant.

Appears in 2 contracts

Samples: Franchise License Agreement (Apple REIT Nine, Inc.), Franchise License Agreement (Apple REIT Nine, Inc.)

Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) may pass in accordance with such person's ’s will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's ’s estate, without our consent; , provided that (ix) the Transfer is to a Family Member or to a legal entity formed by such Family Member(s), and (iiy) within one (1) year after the death, such Family Member(s) or entity meets all our then current requirements for an approved applicant.

Appears in 2 contracts

Samples: Franchise License Agreement, Franchise License Agreement (American Assets Trust, Inc.)

Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) may pass in accordance with such person's will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate, without our consent; , provided that (ix) the Transfer is to a Family Member or to a legal entity formed by such Family Member(s), and (iiy) within one (1) year after the death, such Family Member(s) or entity meets all our then current requirements for an approved applicant.

Appears in 1 contract

Samples: Franchise License Agreement (Apple Hospitality Five Inc)

Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) or this Agreement may pass transfer in accordance with such person's ’s will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate’s estate (“Transfer Upon Death”), without our consent; , provided that (i) the Transfer Upon Death is to a Family Member or to a legal entity formed by such Family Member(s), and (ii) within one (1) year after the death, such Family Member(s) or entity meets all of our then current requirements for an approved applicant.

Appears in 1 contract

Samples: Franchise License Agreement (Apple REIT Eight, Inc.)

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Transfer Upon Death. Upon the death of a Licensee or Equity Owner, the Equity interest or this Agreement or the Equity Interest (if applicable) may pass transfer in accordance with such person's ’s will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate’s estate (“Transfer Upon Death”), without our consent; , provided that (i) the Transfer Upon Death is to a Family Member or to a legal entity formed by such Family Member(s), ; and (ii) within one (1) year after the death, such Family Member(s) or entity meets all of our then current requirements for an approved applicant.

Appears in 1 contract

Samples: Franchise License Agreement (Apple REIT Nine, Inc.)

Transfer Upon Death. Upon the death of a Licensee or Equity Owner, this Agreement or the Equity Interest (if applicable) or this Agreement may pass transfer in accordance with such person's ’s will or, if such person dies intestate, in accordance with laws of intestacy governing the distribution of such person's estate’s estate (“Transfer Upon Death”), without our consent; , provided that (i) the Transfer Upon Death is to a Family Member or to a legal entity formed by such Family Member(s), ; and (ii) within one (1) year after the death, such Family Member(s) or entity meets all of our then current requirements for an approved applicant.

Appears in 1 contract

Samples: Franchise License Agreement (Apple REIT Nine, Inc.)

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