Majority Owner Transfer Right Sample Clauses

Majority Owner Transfer Right. Other than any project for which Oncor or SDTS, as applicable, has exercised its Waiver of Right to Own, the Majority Owner, shall have the right to assign up to the Majority Owner Percentage Interest of the SU funding and ownership share hereunder of any Accepted Project, SU Submitted Project, Accepted Integration Project, Unopposed SU Submitted Integration Project, or SU Generation Interconnection to either Oncor, SDTS, or another affiliate of Oncor (in each case as Oncor may decide) and thereby modify the funding and ownership shares described in Section 2.01(c) for such project (such right, the “Majority Owner Transfer Right”). In order to exercise the Majority Owner Transfer Right, the Majority Owner must deliver written notice (an “Exercise Notice”) to the Parties no later than 30 days prior to (i) the date that the request for PUCT certification is submitted to the PUCT for any Accepted Project or SU Submitted Project, Accepted Integration Project, Unopposed SU Submitted Integration Project, or (ii) the date of execution by SDTS of the Interconnection Agreement in respect of an SU Generation Interconnection. Any such Exercise Notice shall specify (A) the applicable Accepted Project, SU Submitted Project, Accepted Integration Project, Unopposed SU Submitted Integration Project, or SU Generation Interconnection, (B) the entity to whom the Majority Owner is assigning its funding share (with such election to be made by Oncor), and (C) the funding and ownership share of SU that the Majority Owner is assigning, which percentage shall in no event exceed the product of the funding and ownership share of SU described in Section 2.01(c) multiplied by the Majority Owner Percentage Interest. Upon delivery of an Exercise Notice, the funding and ownership shares described in Section 2.01(c) shall be modified for all purposes for the applicable Accepted Project, SU Submitted Project, Accepted Integration Project, Unopposed SU Submitted Integration Project, or SU Generation Interconnection. For example, assuming the Majority Owner elects to assign 100% of its funding share of a particular Accepted Project under Section 2.01(c)(iii) to Oncor and its Majority Owner Percentage Interest is 50%, then the funding and ownership interest in that Accepted Project will be modified so that, notwithstanding Section 2.01(c)(iii), the greenfield transmission line portion of such Accepted Project will be funded and owned as a joint undivided interest to be held 37.5% by Oncor (75...
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Majority Owner Transfer Right

  • Exchange, Transfer or Assignment of Warrant This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other Warrants of different denominations, entitling the Holder or Holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, with the Assignment Form annexed hereto duly executed and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled. This Warrant may be divided or combined with other Warrants that carry the same rights upon presentation hereof at the office of the Company or at the office of its stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof.

  • Certificate Transfer Restrictions The Certificates may not be acquired by or for the account of (i) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (ii) a plan described in Section 4975(e)(1) of the Code or (iii) any entity whose underlying assets include plan assets by reason of a plan's investment in the entity (each, a "Benefit Plan"). By accepting and holding a Certificate, the Holder thereof shall be deemed to have represented and warranted that it is not a Benefit Plan.

  • Minimum Transfer Restriction Any Transferring Partner must Transfer not less than the lesser of (i) five hundred (500) Partnership Units or (ii) all of the remaining Partnership Units owned by such Transferring Partner, without, in each case, the Consent of the General Partner; provided, however, that, for purposes of determining compliance with the foregoing restriction, all Partnership Units owned by Affiliates of a Limited Partner shall be considered to be owned by such Limited Partner.

  • Transfer Rights Subject to the provisions of Section 8 of this Warrant, this Warrant may be transferred on the books of the Company, in whole or in part, in person or by attorney, upon surrender of this Warrant properly completed and endorsed. This Warrant shall be canceled upon such surrender and, as soon as practicable thereafter, the person to whom such transfer is made shall be entitled to receive a new Warrant or Warrants as to the portion of this Warrant transferred, and Holder shall be entitled to receive a new Warrant as to the portion hereof retained.

  • Trust Certificate Transfer Restrictions No Trust Certificate or any interest therein may be acquired or held by or for the account of, or with the assets of, a Benefit Plan. By accepting and holding a Trust Certificate, the Holder thereof shall be required to have represented and warranted that it is not a Benefit Plan and that it is not acquiring and will not hold such Trust Certificate or any interest therein for the account of, or with the assets of, a Benefit Plan.

  • Transfer Restricted Definitive Notes to Beneficial Interests in Transfer Restricted Global Notes If any holder of a Transfer Restricted Definitive Note proposes to exchange such Transfer Restricted Definitive Note for a beneficial interest in a Transfer Restricted Global Note or to transfer such Transfer Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation:

  • Stop Transfer Instruction The Company will instruct any transfer agent not to register the Transfer of any Shares until the conditions specified in the foregoing legends are satisfied.

  • CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE SECTION 8.1. Company May Consolidate, Etc.,

  • Stop Transfer Order In furtherance of this Agreement, concurrently herewith, the Stockholder shall, and hereby does authorize the Company or its counsel to, notify the Company's transfer agent that there is a stop transfer order with respect to all of the Subject Securities (and that this Agreement places limits on the voting and transfer of such shares); provided that, the stop transfer order shall not restrict or prohibit any Transfer of the Subject Securities if such transfer is made pursuant to the Offer or such Transfer is made at any time following the Expiration Date.

  • Exchange, Transfer, Assignment of Loss of Warrant This Warrant is not registered under the 1933 Act nor under any applicable state securities law or regulation. This Warrant cannot be sold, exchanged, transferred, assigned or otherwise disposed of unless registered pursuant to the provisions of the 1933 Act or an opinion of counsel in form and content satisfactory to the Company is obtained stating that such disposition is in compliance with an available exemption from registration. Any such disposition must also comply with applicable state securities laws and regulations.

Time is Money Join Law Insider Premium to draft better contracts faster.