Designated successor definition

Designated successor means 1 or more persons nominated by the new watercraft dealer, in a written document filed by the dealer with the manufacturer or distributor at the time the dealer agreement is executed, to succeed the dealer in the event of his or her death or incapacity.

Designated successor means the spouse, child, grandchild, parent, brother, or sister, of a dealer who, in the case of a deceased dealer, is entitled to inherit the dealer's ownership interest in the dealership under the terms of the dealer's will; the spouse, or other person who has otherwise been designated in writing by a deceased dealer to succeed him in the motor vehicle dealership, such designation having been furnished to the manufacturer; or the spouse, or other person who, under the laws of intestate succession of this state is entitled to inherit the interest; or who, in the case of an incapacitated dealer, has been appointed by a court in a proceeding interdicting the dealer as the legal representative of the dealer's property. The terms shall also include the appointed and qualified personal representative and testamentary trustee of a deceased dealer.

Designated successor means one or more persons nominated by the new vessel dealer, in a written document filed by the dealer with the manufacturer or distributor at the time the dealer agreement is executed, to succeed the dealer in the event of his death or incapacity. If a designated successor is not able to succeed the new vessel dealer because of the designated successor's death or legal incapacity, the dealer shall execute a new document nominating a designated successor within sixty (60) calendar days after the date of the death or incapacity;

Examples of Designated successor in a sentence

• If there is more than one Designated Successor, the Bondholder Representative shall give notice to the Commonwealth and the Paying Agent (if other than the Commonwealth) that the Designated Successors constitute the Bondholder Representative and such Designated Successors shall thereupon constitute the Bondholder Representative and shall succeed to and become vested with all of the rights, powers, privileges and responsibilities of the Bondholder Representative hereunder and under the Related Documents.

• Upon delivery of written notice to the Commonwealth and the Paying Agent (if other than the Commonwealth), the Designated Successor shall thereupon constitute the Bondholder Representative and shall succeed to and become vested with all of the rights, powers, privileges and responsibilities of the Bondholder Representative hereunder and under the Related Documents.

• Developer shall not assign the obligation to make the Escrow Deposits or to construct the Improvements to a Designated Successor and Assign without the prior written consent of the City, which consent may be withheld in the City’s sole and absolute discretion unless the assignee is a Qualified Assignee (defined herein).

• Taking into consideration the above-noted information, including but not limited to, other factors such as whether Designated Successor will cause a decline in Market Share and whether or not Designated Successor represents a competitive brand conflict, MANUFACTURER shall decide in its sole discretion whether to approve or disapprove of the succession or the Succession Plan.

• Prior to the withdrawal of all multiple General Partners or the withdrawal of a sole General Partner serving without a Designated Successor General Partner, additional General Partners or Designated Successor General Partners may be appointed by Unanimous ConsentMajority In Interest70 Percent in Interestconsent of all General Partners.

More Definitions of Designated successor

Designated successor means one or more persons

Designated successor means one or more persons nominated

Designated successor means one or more successors who are designated pursuant to subdivision A 7 of § 64.2-601.

Designated successor has the meaning set forth in Section 9.14(a) hereof.

Designated successor means one or more successors who are designated pursuant to subdivision A 7 of § 64.2-601 to receive payment or delivery of the small asset on behalf of all successors.

Designated successor means 1 or more persons nominated

Designated successor means a person designated in writing by the retiring dealer to succeed in