TRANSFER WITHIN ESCROW Sample Clauses
The "Transfer Within Escrow" clause defines the process by which ownership or rights to an asset are transferred while the asset is held by a neutral third party, known as an escrow agent. In practice, this means that the asset—such as funds, property, or intellectual property—remains under the control of the escrow agent until all specified conditions are met, at which point the transfer to the designated party occurs. This clause ensures that both parties fulfill their contractual obligations before the asset changes hands, thereby reducing the risk of non-performance or fraud.
TRANSFER WITHIN ESCROW. (1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received
(a) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and
(b) a letter from the Superintendent or the Exchange consenting to the transfer.
(3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
(4) [Set out in this subsection the rights and obligations of a Shareholder who ceases to be a principal, as that term is defined in Local Policy Statement 3-07, dies, or becomes bankrupt, to retain, transfer or surrender to the Issuer for cancellation any Shares held by the Shareholder.]
TRANSFER WITHIN ESCROW. 1) The Shareholder must not assign, deal in, pledge, sell, trade or transfer in any manner whatsoever, or agree to do so in the future, any of the Shares or any beneficial interest in them, except:
a) a transfer of Shares from the Shareholder to a registered retirement savings plan the sole beneficiary of which is the Shareholder; or
b) with the written consent of the Exchange.
2) Subject to the exceptions set out in section 6(1)(a) and (b) above, the Escrow Agent must not effect or acknowledge any transfer, trade, pledge, hypothecation, assignment, declaration of trust or any other documents evidencing a change in the legal or beneficial ownership of or interest in the Shares.
3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent must hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
TRANSFER WITHIN ESCROW. (1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received
(a) a copy of an Acknowledgment executed by the person to whom the Shares are to be transferred, and
(b) a letter from the Superintendent or the Exchange consenting to the transfer.
(3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
(4) Upon the death or bankruptcy of a Shareholder or upon the Shareholder ceasing to be a principal of the Issuer, any Shares held by the Shareholder shall be entitled to be retained by the Shareholder or his estate.
TRANSFER WITHIN ESCROW. (a) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(b) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received
(i) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and
(ii) a letter from the Superintendent or the Exchange consenting to the transfer.
(c) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
(d) In the event the Shareholder ceases to be a principal or a promoter of the Issuer, he shall be entitled to retain all of the Shares and shall not be obligated to sell, transfer or otherwise assign the Shares to anyone.
TRANSFER WITHIN ESCROW. (a) The Principals shall not transfer any of the Escrow Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Executive Director or the Exchange; (b) The Escrow Agent shall not effect a transfer of the Escrow Shares within escrow unless the Escrow Agent has received: (i) a copy of an Acknowledgment executed by the person to whom the Escrow Shares are to be transferred; and (ii) a letter from the Executive Director or the Exchange consenting to the transfer; (c) Upon the death or bankruptcy of a Principal, the Escrow Agent shall hold the Escrow Shares subject to this Agreement for the person that is legally entitled to become the registered owner of the Escrow Shares;
TRANSFER WITHIN ESCROW. (1) the Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Executive Director or the Exchange;
(2) the Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received:
(i) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred; and
(ii) a letter from the Executive Director or the Exchange consenting to the transfer.
(3) upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this Agreement for the person that is legally entitled to become the registered owner of the Shares;
(4) the Shareholder acknowledges to, and agrees with, the Issuer that the Shareholder will continue to be involved in the business affairs of the Issuer, or an operating subsidiary thereof, as a director or senior officer of one or both such companies, or by providing key services, whether management services or otherwise, to one or both such companies. If the Shareholder for any reason ceases to be a director or senior officer of such companies, or ceases to provide such services, then the Shareholder shall be entitled to retain his Shares and remain bound by the terms of this Agreement. For further clarity the Shareholder shall be entitled to a release or releases of the Shares pursuant to the provisions of section 7(2) hereof.
TRANSFER WITHIN ESCROW. (1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received:
(a) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and
(b) a letter from the Superintendent or the Exchange consenting to the transfer.
(3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this Agreement for the person that is legally entitled to become the registered owner of the Shares, subject to such person effecting any transfer within escrow of the Shares to a principal of the Company in accordance with this Agreement and the rules and policies of the Exchange.
(4) Subject to section 8 hereof a Shareholder who ceases to be a principal of the Company, as that term is defined in Local Policy Statement 3-07, dies, or becomes bankrupt, may retain the Shares held hereunder by the Shareholder.
TRANSFER WITHIN ESCROW. (1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received
(a) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and
(b) a letter from the Superintendent or the Exchange consenting to the transfer.
(3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
(4) [SET OUT IN THIS SUBSECTION THE RIGHTS AND OBLIGATIONS OF A SHAREHOLDER WHO CEASES TO BE A PRINCIPAL, AS THAT TERM IS DEFINED IN LOCAL POLICY STATEMENT 3-07, DIES, OR BECOMES BANKRUPT, TO RETAIN, TRANSFER OR SURRENDER TO THE ISSUER FOR CANCELLATION ANY SHARES HELD BY THE SHAREHOLDER.]
TRANSFER WITHIN ESCROW. (1) The Shareholder shall not transfer any of the Shares except in accordance with Local Policy Statement 3-07 and with the consent of the Superintendent or the Exchange.
(2) The Escrow Agent shall not effect a transfer of the Shares within escrow unless the Escrow Agent has received (a) a copy of an Acknowledgement executed by the person to whom the Shares are to be transferred, and (b) a letter from the Superintendent or the Exchange consenting to the transfer.
(3) Upon the death or bankruptcy of a Shareholder, the Escrow Agent shall hold the Shares subject to this agreement for the person that is legally entitled to become the registered owner of the Shares.
(4) Should the Shareholder(s) Ki▇ ▇▇▇▇▇▇ ▇r La▇▇ ▇▇ ▇ease to be a "principal" (as that term is defined in Local Policy Statement 3-07) of the Issuer, die or become bankrupt, the Shareholder or whatever other person is legally entitled to 316
(5) Should the Shareholder 437581 B.C. Ltd.
(a) cease to be a "principal" (as that term is defined in Local Policy Statement 3-07) of the Issuer or become bankrupt, the Shareholder or whatever other person that is legally entitled to become the registered owner of the Shares shall, within 60 days of the Shareholder ceasing to be a principal or becoming bankrupt, either complete the transfer of Shares pursuant to section 6 or surrender the Shares for cancellation pursuant to section 8, or (b) No longer be controlled by Pe▇▇▇ ▇▇▇▇▇▇▇ ▇y virtue of the death of Pe▇▇▇ ▇▇▇▇▇▇▇ ▇hen the benefits and obligations of this Agreement shall pass to the estate of Pe▇▇▇ ▇▇▇▇▇▇▇.
TRANSFER WITHIN ESCROW. The Vendors will not sell, deal in, assign, transfer in any manner whatsoever or agree to sell, deal in, assign or transfer in any manner whatsoever, any of the Escrowed Shares which are subject to escrow hereunder or beneficial ownership of or any interest in them. The Escrow Agent shall not accept or acknowledge any transfer, assignment, declaration of trust or any other documents evidencing a change in legal or beneficial ownership of any of the Escrowed Shares subject to escrow hereunder, or of any interest in such Escrowed Shares, subject to the terms of this Agreement.