Controlling Person or Entity definition

Controlling Person or Entity means a person or entity who, under Applicable Laws and Requirements, possesses all authority and power necessary to lawfully act on behalf of and bind such entity, over the objection of all other holders of any other interest in such entity, to fulfill the obligations of Developer under the Agreement, as described in Section 6.13(b).
Sample 1
Controlling Person or Entity means a person or entity who, under Applicable Laws and Requirements, possesses all authority and power necessary to lawfully act on behalf of and bind such entity, over the objection of all other holders of any other interest in such entity, to fulfill the obligations of Developer under the Agreement, as described in Section 7.13(b).
Sample 1
Controlling Person or Entity with respect to the Developer and the transferee entity referenced in the preceding sentence means an entity in which complete management authority with respect to all matters related to this Agreement or majority ownership is possessed by Xxxxx Xxxxxxx or his immediate family, whether individually or through a trust or other entity in which any of these individuals possesses majority ownership or complete management authority with respect to all matters related to this Agreement. Notwithstanding the foregoing, nothing in this Section 11 shall prevent Developer from making leases for portions of the office space within the Project in the ordinary course of Developer's business for the uses permitted under the terms of this Agreement, subject always to the terms and conditions of Section 6 above.
Sample 1

Examples of Controlling Person or Entity in a sentence

  • For purposes hereof, the term "Affiliate Transfer" means a transfer by which a transferee entity other than the Developer assumes or guarantees all of Developer's obligations under this Agreement with respect to all portions of the Project transferred, and remains jointly and severally liable with Developer, and the Controlling Person or Entity of such transferee entity is also the Controlling Person or Entity of the Developer.

Related to Controlling Person or Entity

  • Controlling Persons means the natural persons who exercise control over an Entity. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term “Controlling Persons” shall be interpreted in a manner consistent with the Financial Action Task Force Recommendations.

  • young person means a person who falls within the definition of qualifying young person in section 142 of the SSCBA.

  • Investor Party has the meaning set forth in Section 4.7.

  • Controlling ownership interested means ownership of or entitlement to more than twenty five percent of shares or capital or profits of the Company;

  • Surviving Person means, with respect to any Person involved in or that makes any Disposition, the Person formed by or surviving such Disposition or the Person to which such Disposition is made.

  • Controlling Interest means: (1) an ownership interest or participating interest in a business entity by virtue of units, percentage, shares, stock, or otherwise that exceeds 10 percent; (2) membership on the board of directors or other governing body of a business entity of which the board or other governing body is composed of not more than 10 members; or (3) service as an officer of a business entity that has four or fewer officers, or service as one of the four officers most highly compensated by a business entity that has more than four officers. Subsection (3) of this section does not apply to an officer of a publicly held business entity or its wholly owned subsidiaries.

  • Person means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

  • Controlling Shareholder means any shareholder owning more than fifty

  • Entity means a corporation, partnership, limited liability company or other entity.

  • taxable person means any person who, independently, carries out in any place any economic activity, whatever the purpose or results of that activity.