Individual Permit Transfers Sample Clauses

Individual Permit Transfers. 10 Each Member agrees that so long as it is a party to this Agreement, such Member 11 shall not have the authority to sell, lease or transfer the ownership of its Permit or the 12 right to harvest any portion or all of the Permit’s individual harvest share (share) to a 13 party that is not bound by the Agreements binding members of Sustainable Harvest 14 Sectors I (SHS1), II (SHS2), and III (SHS3) for the remainder of the fishing year in 15 which such sale, lease or transfer is to occur,
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Individual Permit Transfers. Each Member agrees that so long as it is a party to this Agreement, such Member shall not have the authority to sell, lease or transfer the ownership of its Permit or the right to harvest any portion or all of the Permit’s individual harvest share (share) to a party that is not bound by the Agreements binding members of Sustainable Harvest Sectors I and III (SHS3) for the remainder of the fishing year in which such sale, lease or transfer is to occur, 1. shall not transfer, lease or assign any DAS allocated to its Permit by NMFS to any permit that is not enrolled in a Sector (meaning any sector, not specifically SHS1) and
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Individual Permit Transfers. 5 Each Member agrees that so long as it is a party to this Agreement, such Member 6 shall not have the authority to sell, lease or transfer the ownership of its Permit to a party that is 7 not bound by this Agreement for the remainder of the fishing year in which such sale, lease or 8 transfer is to occur;
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Related to Individual Permit Transfers

  • Permitted Transfers The provisions of Section 8.1 shall not apply to (a) a transfer or an assignment of this Lease in connection with the sale of substantially all the original Tenant’s assets if: (I) such sale of assets occurs on an arms’-length basis, to an unrelated third party, and is for a bona fide business purpose and not primarily to transfer Tenant’s interest in this Lease; and (II) upon the consummation of the transfer or assignment, the transferee or assignee is, in the sole, but reasonable determination of Landlord (and its lender, if applicable), capable of satisfying all of Tenant’s obligations hereunder; (b) an assignment of this Lease to a successor to Tenant by merger, consolidation, reorganization or similar corporate restructuring or to an entity that controls, is controlled by, or is under common control with, Tenant; or (c) a subletting of the Premises or any part thereof. In the case of an assignment or sublease that is expressly permitted pursuant to (a) or (c) of this Section 8.3, Tenant shall nevertheless be required to provide Landlord with notice of such assignment or sublease and a true and complete copy of the fully-executed documentation pursuant to which the assignment or sublease, as applicable, has been effectuated within ten (10) business days after the effective date of such assignment or sublease. Any permitted transferee under (a) of this Section 8.3 shall execute and deliver to Landlord any and all documentation reasonably required by Landlord in order to evidence assignee’s assumption of all obligations of Tenant hereunder and to evidence the assignee’s compliance (or ability to comply) with (a)(II) above. Notwithstanding anything to the contrary contained in this Section 8.3, in no event may Tenant assign, mortgage, transfer, pledge or sublease this Lease to any entity whatsoever if, at the time of such assignment, mortgage, transfer, pledge or sublease, a Default has occurred and remains continuing under this Lease.

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