Control Transfer Sample Clauses
The Control Transfer clause defines the conditions and process by which authority or management over certain assets, operations, or responsibilities is shifted from one party to another. Typically, this clause outlines the specific triggers for transfer—such as completion of a project phase, sale of a business unit, or fulfillment of contractual obligations—and details the steps required to effectuate the change, including notification procedures and documentation requirements. Its core practical function is to ensure a clear, orderly, and legally recognized transition of control, thereby minimizing disputes and operational disruptions during the handover process.
Control Transfer. Any sale, exchange, transfer or other disposition by Liberty or any of its Controlled Affiliates in one or more transactions of a number of shares of Common Stock representing Control of United, and any indirect transfer of such number of shares through any transfer of Control or relinquishment of Control of any Controlled Affiliate, to a Person that, after giving effect to such transaction (or the last such transaction), is not a Controlled Affiliate of Liberty, or to two or more Persons that, after giving effect to such transaction (or the last such transaction), are not Controlled Affiliates of Liberty and who together constitute a Group for purposes of such transferred Common Stock, but excluding a transfer by operation of law in connection with any merger, consolidation, statutory share exchange or similar transaction involving United.
Control Transfer. Transfer of control between any two remote propulsion control stations shall be executed using the VSP or approved equal operating panels. The EOS station shall be the default station in control. A control transfer between stations shall transfer the control functions for both fore and aft drivetrains concurrently. • The transfer of control between any two (2) remote stations shall require the joysticks to be in the zero pitch position. • The transfer of control between the EOS station and any of the other remote stations, or between any station in one Pilot House and a station in the opposite Pilot House, shall be a two-step process: 1) Control transfer shall be initiated by pressing a control release push button at the active station, and 2) control transfer completed by pressing the control transfer button at the inactive station. • At any time, the EOS station may take back control from any of the other two (2) remote propulsion control stations and block unauthorized control from any secondary station.
Control Transfer. (a) If the P/M Stockholders propose to make a Control Transfer (as hereinafter defined) of any of their Shares, then they shall have the right, but not the obligation, to require the Mc/X Stockholders to participate ("Bring Along Right") in any such sale on the same terms as the P/M Stockholders by requiring the purchaser to purchase from the Mc/X Stockholder the "Mc/X Stockholders Proportionate Share" (as hereinafter defined) of the Shares to be sold, on the same terms and conditions as pertain to the Shares to be sold by the P/M Stockholders in the Control Transfer.
Control Transfer. (a) If ▇▇▇▇▇▇ and/or any of its Affiliates which owns Shares proposes to make a Control Transfer (as hereinafter defined) of any of their Shares, then INDI shall have the right to participate ("INDI Participation Right") and ▇▇▇▇▇▇ shall have the right to require INDI to participate ("▇▇▇▇▇▇ Bring Along Right") in any such sale on the same terms as ▇▇▇▇▇▇ and/or its Affiliates by requiring the purchaser to purchase the "INDI Proportionate Share" (as hereinafter defined) of the Shares to be sold, on the same terms and conditions as pertain to the Shares to be sold by ▇▇▇▇▇▇ and/or its Affiliates in the Control Transfer. Notwithstanding the foregoing, if the pre-money valuation of the Company (i.e., the price per share being offered by the purchaser multiplied by the number of shares of Common Stock outstanding on a fully diluted basis) is less than $32 million, INDI shall have the right to require the purchaser to purchase (and ▇▇▇▇▇▇ shall have the right to require INDI to sell to the purchaser) all of the INDI Shares on the same terms and conditions as pertain to the Shares to be sold by ▇▇▇▇▇▇ and/or its Affiliates in the Control Transfer.