Transfers In Bankruptcy. It is the intent of the parties hereto that in the event of a Transfer pursuant to the provisions of the Bankruptcy Code, all consideration payable or otherwise to be delivered in connection with such Transfer shall be paid or delivered to Lessor, shall be and remain the exclusive property of Lessor and shall not constitute property of Lessee or of the estate of Lessee within the meaning of the Bankruptcy Code. Any consideration constituting Lessor’s property pursuant to the immediately preceding sentence and not paid or delivered to Lessor shall be held in trust for the benefit of Lessor and be promptly paid or delivered to Lessor. For purposes of this Section 24.1.9, the term “consideration” shall mean and include money, services, property and any other thing of value such as payment of costs, cancellation or forgiveness of indebtedness, discounts, rebates, barter and the like. If any such consideration is in a form other than cash (such as in kind, equity interests, indebtedness earn-outs, or other deferred payments, consulting or management fees, etc.) Lessor shall be entitled to receive in cash the then present fair market value of such consideration. Notwithstanding any provision of this Lease to the contrary, including this Section 24.1.9, it is expressly understood and agreed that it is the intention of the parties hereto that, notwithstanding any provision of the Bankruptcy Code, including Section 365(f) thereof, Lessee is precluded from effecting any Transfer of a Facility except as may otherwise be expressly provided in this Lease.
Transfers In Bankruptcy. In the event of a Transfer pursuant to the provisions of the Bankruptcy Code, all consideration payable or otherwise to be delivered in connection with such Transfer shall be paid or delivered to Lessor, shall be and remain the exclusive property of Lessor and shall not constitute property of Lessee or of the estate of Lessee within the meaning of the Bankruptcy Code. Any consideration constituting Lessor’s property pursuant to the immediately preceding sentence and not paid or delivered to Lessor shall be held in trust for the benefit of Lessor and be promptly paid or delivered to Lessor. For purposes of this Section 24.1.8, the term “consideration” shall mean and include money, services, property and any other thing of value such as payment of costs, cancellation or forgiveness of indebtedness, discounts, rebates, barter and the like. If any such consideration is in a form other than cash (such as in kind, equity interests, indebtedness earn-outs, or other deferred payments, consulting or management fees, etc.), Lessor shall be entitled to receive in cash the then present fair market value of such consideration.
Transfers In Bankruptcy. In the event of a Transfer or assignment of this Lease pursuant to the provisions of the Bankruptcy Code, all consideration payable or otherwise to be delivered in connection with such Transfer or assignment shall be paid or delivered to Landlord, shall be and remain the exclusive property of Landlord and shall not constitute property of Tenant or of the estate of Tenant within the meaning of the Bankruptcy Code. Any consideration constituting Landlord’s property pursuant to the immediately preceding sentence and not paid or delivered to Landlord shall be held in trust for the benefit of Landlord and be promptly paid or delivered to Landlord. For purposes of this subsection, the term “consideration” shall mean and include money, services, property and any other thing of value such as payment of costs, cancellation or forgiveness of indebtedness, discounts, rebates, barter and the like. If any such consideration is in a form other than cash (such as in kind, equity interests, indebtedness earn-outs, or other deferred payments, consulting or management fees, etc.), Landlord shall be entitled to receive in cash the then present fair market value of such consideration.
Transfers In Bankruptcy. In the event of a Transfer pursuant to the provisions of the Bankruptcy Code, all consideration payable or otherwise to be delivered in connection with such Transfer shall be paid or delivered to the other Party, shall be and remain the exclusive property of such other Party and shall not constitute property of the Transferor or of the estate of the Transferor within the meaning of the Bankruptcy Code. Any consideration constituting the other Party’s property pursuant to the immediately preceding sentence and not paid or delivered to such other Party shall be held in trust for the benefit of such Party and be promptly paid or delivered to such Party. For purposes of this Section, the term “consideration” shall mean and include money, services, property and any other thing of value such as payment of costs, cancellation or forgiveness of indebtedness, discounts, rebates, barter and the like. If any such consideration is in a form other than cash (such as in kind, equity interests, indebtedness earn-outs, or other deferred payments, consulting or management fees, etc.), the non-Transferring Party shall be entitled to receive in cash the then present fair market value of such consideration.
Transfers In Bankruptcy. If a Partner or Spouse is the named debtor in bankruptcy or receivership proceedings and a Transfer of Interests is proposed or directed, commencing with the determination of the purchase price under Section 8.16, the Partnership and the other Partners shall have an exclusive option to purchase the named debtor’s Interests at the purchase price determined in accordance with Section 8.16 and on the terms described in Section 8.17, to the same extent as if such Transfer constituted an offer to sell Interests under Section 8.3, and the provisions of Sections 8.3 through 8.8 shall accordingly control the exercise of this Option.
Transfers In Bankruptcy a. If a Class A Member, a Class C Member, or his or her Spouse or Domestic Partner is the named debtor in bankruptcy or receivership proceedings, then the Company shall at all times thereafter have the immediate and continuing option by notice to the bankruptcy or receivership trustee or other applicable party to Elect to purchase the Membership Interest which is the subject of such bankruptcy or receivership proceedings for a purchase price equal to the purchase price determined pursuant to Articles 11 to be payable in accordance with the provisions therewith.
b. If the Company’s purchase option described in Section 10.13(a) should not be exercised by the Company for any reason or is not enforceable by the Company for any reason and all or any portion of the Membership Interest subject to such bankruptcy or receivership proceedings is proposed to be made the subject of any kind of Transfer, then such Transfer shall be deemed to be a Voluntary Transfer by a Member and such Transfer shall therefore be subject to the provisions of Section 10.4.
Transfers In Bankruptcy. If a Stockholder or Stockholder's Spouse is the named debtor in bankruptcy or receivership proceedings and a Transfer of Shares is proposed or directed, the Company shall have an exclusive right of first refusal to purchase the named debtor Stockholder's Shares to the same extent as if such Transfer constituted an offer to sell Shares under Section 5.1, and the provisions of Section 5.1, except the purchase price shall be determined pursuant to Section 8.1 and the terms shall be as described in Section 8.2, shall accordingly control the exercise of this right of first refusal.
Transfers In Bankruptcy. In the event of a Transfer pursuant to the provisions of the Bankruptcy Code, all consideration payable or otherwise to be delivered in connection with such Transfer shall be paid or delivered to Lessor, shall be and remain the exclusive property of Lessor and shall not constitute property of Lessee or of the estate of Lessee within the meaning of the Bankruptcy Code. Any consideration constituting Lessor's property pursuant to the immediately preceding sentence and not paid or delivered to Lessor shall be held in trust for the benefit of Lessor and be promptly paid or delivered to Lessor. For purposes of this Section 24.8, the term "consideration" shall have the same meaning given to such term in the definition of Fair Market Rental as provided in Article I above. In the event any such consideration is other than cash, the fair market value of such consideration shall be paid or delivered to Lessor in cash.
Transfers In Bankruptcy. 11 ARTICLE VII PURCHASE UPON DEATH, DIVORCE OR TERMINATION OF EMPLOYMENT ......................................... 11
Transfers In Bankruptcy. 19 Section 10.03 No Release Of Tenant......................................19
