Transfer of Majority Interest definition

Transfer of Majority Interest means, with respect to Tenant or its parent company, any direct or indirect transfer, sale or other transaction (or related transactions) that results in any Person (other than a current Control Person of Tenant or its parent company, as applicable) becoming the beneficial owner, directly or indirectly, of fifty percent (50%) or more of the securities or interests having ordinary voting power for the election of managers, directors or other comparable Controlling body of Tenant or its parent company, as applicable.
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Transfer of Majority Interest means, with respect to Tenant or Company, any direct or indirect transfer, sale or other transaction (or related transactions) that results in any Person (other than a current Control Person of Tenant or Company, as applicable) becoming the beneficial owner, directly or indirectly, of fifty percent (50%) or more of the securities or interests having ordinary voting power for the election of managers, directors or other comparable Controlling body of Tenant or Company, as applicable.
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Examples of Transfer of Majority Interest in a sentence

  • The implications for the state of Patrislavia vary according to whether the right to determine is seen as a right to internal autonomy (1514) or a right to secede.

  • To the extent that Tenant or its Ownership Group, as applicable, have not otherwise provided notice to City of any Transfer of Majority Interest because of contractual confidentiality provisions or otherwise, Tenant or its Ownership Group, as applicable, shall provide City with notice of any Transfer of Majority Interest in Tenant prior to the first to occur of: any public statement by Tenant or its Ownership Group with respect to such transfer or the closing of such transfer.

  • As long as there is no existing Tenant Default, transfers of ownership interests in Tenant or its Ownership Group which do not constitute a Transfer of Majority Interest will not require either Authority Approval or notice; provided that the aggregate of all such transfers over the Term does not cause a Transfer of Majority Interest with respect to such entities.

  • Absent this new “10 percent option,” counties above the state cap like Marin would have to absorb the entire non-federal cost of any increases.

Related to Transfer of Majority Interest

  • Age of majority means the age when the procedural safeguards and other rights afforded to the parent or parents of a student with a disability transfer to the student. In Virginia, the age of majority is 18.

  • Majority in Interest As to any Class of Regular Certificates, the Holders of Certificates of such Class evidencing, in the aggregate, at least 51% of the Percentage Interests evidenced by all Certificates of such Class.

  • Super Majority Vote means, the affirmative vote of the holders of Outstanding Interests of all Series representing at least two thirds of the total votes that may be cast by all such Outstanding Interests, voting together as a single class.

  • Required Majority means a required majority, as defined in Section 57(o) of the Act.8

  • Permitted Security Interest means any Security Interest:

  • Majority in Interest of the Members means Members whose Percentage Interests aggregate to greater than fifty percent of the Percentage Interests of all Members.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.