Ownership Transfer definition

Ownership Transfer means the transfer, sale, assignment, pledge or other encumbrance of all or a part of the assets of the Business or Ownership Interest in Franchisee. During the term of this Agreement, no Ownership interest may be transferred, sold, assigned or otherwise divested to any person or entity outside the Clearpoint Program. Franchisee must obtain Franchisors prior written consent to any Ownership Transfer.

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Ownership Transfer means a transfer of an interest in the membership or ownership interests of Tenant.

Ownership Transfer means a transfer or series of

Examples of Ownership Transfer in a sentence

• Developer shall submit, on or before the Ownership Transfer Date, to Connecting Transmission Owner the Turnover Package which consists of the following documents: picture of equipment nameplate, equipment documentation, Vendor O&M manual, vendor drawings, QA/QC documents, installation commissioning, Engineer of Record Professional, Engineer certification, certificate of occupancy, “as built” color markup of design drawings, and warranties.

• H.O.T. = Home Ownership Transfer; P.M.I. – Physical Move-In; Responsibility refers to financial responsibility.

• You must give us at least sixty (60) days advance written notice of any proposed Change of Ownership Transfer, including the identity and contact information for any proposed Transferee Licensee or transferee Equity Owner(s) and any other information we may in our business judgment require in order to review and consent to the Transfer.

• If we approve the Change of Ownership Transfer, we may require you (if there is no Transferee Licensee), or the Transferee Licensee to pay any other applicable fees and charges we then impose for new Licensed Brand franchise licenses.

• We will have sixty (60) days from our receipt of the completed and signed application to consent or withhold our consent to the transferee Equity Owner(s), the Transferee Licensee and/or Change of Ownership Transfer.

More Definitions of Ownership Transfer

Ownership Transfer means any assignment, sale, exchange or other conveyance of any license issued pursuant to the provisions of this article. A transfer shall be deemed to have occurred upon the assignment, sale, exchange or other conveyance of the ownership interest in a licensee sole proprietorship, general partnership, corporation, limited liability company, limited liability partnership or other form of business entity that is or has been issued the license whether such assignment, sale, exchange or other conveyance of 50% or more of the ownership interest occurred in one single transaction or whether such assignment, sale, exchange or other conveyance occurred in multiple transactions within the prior thirty-six (36) months resulting in a change of more than 50% of the ownership interest of such licensee business entity. Recognizing that the licensee may be a business entity in which the "owners" are, themselves, business entities and recognizing that the city has an interest in knowing who are the natural persons who own 5% or more ownership in a licensee and in knowing when an ownership interest of such natural persons has occurred, in addition to the foregoing said ownership transfer shall be deemed to occur whenever said change in ownership interest occurs by a direct change in ownership of the licensee business entity or by indirect change of ownership whenever there is a 50%, or more, change in ownership held by any single natural person.

Ownership Transfer means a transfer or series of transfers in any consecutive twelve-month period, for a valuable consideration, of ownership of stock possessing more than fifty percent of the total combined voting power of the issued and outstanding shares of each class of stock entitled to vote.

Ownership Transfer means a transfer or series of transfers in

Ownership Transfer. Title to, possession and risk of loss of the natural gasoline feedstock to be delivered to Customer via the GSPL Pipeline shall pass from Company to Customer, when the product passes through the transfer meter located at TEPPCO BMT (the "Meter") into the GSPL Pipeline unless otherwise agreed by both parties. The readings from the Meter shall be used in determining compliance with the minimum volumes required under Paragraph 2 and for calculation of the fee owed to Company by Customer pursuant to Paragraph 3. Such meter will be calibrated periodically according to TEPPCO standard practice, and the Customer shall have the right to be notified of the calibration date and be allowed to observe, if desired.

Ownership Transfer. , in relation to an exchange, means a transfer of ownership which gives rise to a change in the persons who are in a position to exercise significant influence over the management of the exchange, whether directly or indirectly.

Ownership Transfer. Any transfer, sale, assignment, pledge or other encumbrance of all or a part of the assets of the PS by FRANCHISEE or any transfer, sale, assignment, pledge or other encumbrance of an OWNERSHIP INTEREST by an OWNER that effects a change in CONTROL or results in a change in a PRINCIPAL OWNER.

Ownership Transfer means any sale, assignment, conveyance or transfer of all or any part of the Hotel or any interest therein or of Owner's rights hereunder (including any lease with a term of five (5) years or more), or the voluntary or involuntary sale, assignment, transfer or other disposition, or transfer by operation of law (other than by will or the laws of intestate succession or to an inter vivos or living trust so long as the settlor is the trustee of such trust during his/her lifetime) of a controlling interest in Owner (i.e. the possession directly or indirectly of the power to direct or cause the direction of management and policies of Owner, whether through the Ownership of voting securities, partnership interest or by contract or otherwise), except in connection with the incurring of a debt secured by a Mortgage, or to an Affiliate provided such Affiliate meets the requirements set forth in Section 13.1.