Types of assignment. Three types of assignment of Storage Services are possible:
Types of assignment. The Master Licensee acknowledges that the Licensor’s right to approve or disapprove a proposed sale or transfer provided for herein shall apply (a) if the Master Licensee is a partnership or other business association, to the addition or deletion of a partner or a member of the association or the transfer of any partnership or membership interest among existing partners or members; (b) if the Master Licensee is a corporation or company, to any proposed transfer or assignment of 25% or more of the stock or other ownership interest in the Master Licensee, whether such transfer occurs in a single transaction or several transactions; and (c) if the Master Licensee is an individual, to the transfer from such individual or individuals to a company controlled by him, her or them, in which case the Licensor’s approval will be conditioned on the continuing personal guarantee of the individual (or individuals) for the performance of obligations under this Agreement, and other reasonable conditions. With respect to a proposed transfer as described in subsection (c) of this section, the Licensor’s right of first refusal to purchase, as set forth above, shall not apply and the Licensor will waive any transfer fee chargeable to the Master Licensee for a transfer under these circumstances. 12.5.
Types of assignment. The Master Franchisee acknowledges that the Franchisor's right to approve or disapprove of a proposed sale or transfer provided for herein shall only apply to any proposed transfer or assignment of % or more of the stock or other ownership interest in the Master Franchisee. With respect to a proposed transfer as described in this paragraph, the Franchisor's right of first refusal to purchase, as set forth above, shall not apply and the Franchisor will waive any transfer fee chargeable to the Master Franchisee for a transfer under these circumstances. As long as Xxxx Xxxxxx retains an ownership interest in the Master Franchisee, Franchisor approval shall not be required for transfers or proposed sales described in this section 12.4. Should Master Franchisee determine it to be beneficial to transfer a different type of corporate entity other than a Limited Liability Company, said new entity shall maintain a provision that the entity cannot be dissolved solely by the removal or buy-out of any one member.
Types of assignment. 19 12.5. Assignment by Franchisor................................... 20
Types of assignment. The Master Franchisee acknowledges that the Franchisor's right to approve or disapprove a proposed sale or transfer provided for herein shall apply (1) if the Master Franchisee is a partnership or other business association, to the addition or deletion of a partner or a member of the association or the transfer of any partnership or membership interest among existing partners or members; (2) if the Master Franchisee is a corporation or company, to any proposed transfer or assignment of 25% or more of the stock or other ownership interest in the Master Franchisee, whether such transfer occurs in a single transaction or several transactions; and (3) if the Master Franchisee is an individual, to the transfer from such individual or individuals to a company controlled by him, her or them, in which case the Franchisor's approval will be conditioned on the continuing personal guarantee of the individual (or individuals) for the performance of obligations under this Agreement, and other reasonable conditions. With respect to a proposed transfer as described in subsection (3) of this section, the Franchisor's right of first refusal to purchase, as set forth above, shall not apply and the Franchisor will waive any transfer fee chargeable to the Master Franchisee for a transfer under these circumstances.
