Not Transferable; Occupancy Clause Samples

Not Transferable; Occupancy. The option herein granted herein shall be deemed personal to the Named Tenant. The exercise of the aforesaid option at a time when (i) the Occupancy Requirement (as hereinafter defined) is not satisfied, or (ii) the Tenant under this Lease is not the Named Tenant, shall be void and of no force and effect unless Landlord shall elect otherwise. The “Occupancy Requirement” means that Tenant shall not be subleasing more than twenty-five percent (25%) of the rentable area of the Premises to a party (other than in connection with a Permitted Transfer or other than a party as to which Tenant has a ten percent (10%) or more ownership interest; provided, Tenant shall provide reasonable evidence of such ownership interest to Landlord as part of any Transfer Request Notice with respect to such subleasing and otherwise upon Landlord’s request).
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Not Transferable; Occupancy. The option herein granted herein shall be deemed personal to the Named Tenant. The exercise of the aforesaid option at a time when (i) the Occupancy Requirement is not satisfied, or (ii) the Tenant under this Lease is not the Named Tenant, shall be void and of no force and effect unless Landlord shall elect otherwise.
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Related to Not Transferable; Occupancy

  • Not Transferable 14.1 This Agreement is not transferable to any other party.

  • Options Not Transferable The Options may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other than by will, by applicable laws of descent and distribution or, in the case of a Non-Qualified Stock Option, pursuant to a qualified domestic relations order, and shall not be subject to execution, attachment or similar process; provided, however, that if the Options represent a Non-Qualified Stock Option, such Option is transferable without payment of consideration to immediate family members of the Optionee or to trusts or partnerships established exclusively for the benefit of the Optionee and Optionee’s immediate family members. Upon any attempt to transfer, pledge, hypothecate or otherwise dispose of any Option or of any right or privilege conferred by the Plan contrary to the provisions thereof, or upon the sale, levy or attachment or similar process upon the rights and privileges conferred by the Plan, such Option shall thereupon terminate and become null and void.

  • Option Not Transferable Neither the Option nor any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Optionee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect; provided, however, that this Section 5.2 shall not prevent transfers by will or by the applicable laws of descent and distribution.

  • Beneficial Occupancy A. The County may, at any time, and from time to time, during the performance of the Work, enter the structure for the purpose of installing any necessary Work by County labor of other contracts, and for any other purpose in connection with the installation of facilities. In doing so, the County shall endeavor not to interfere with the Contractor and the Contractor shall not interfere with other Work being done by or on behalf of the County. B. If, prior to completion and Final Acceptance of all the Work under a specific Job Order, the County takes possession of any structure (whether completed or otherwise) comprising a portion of that Project with the intent of retaining possession thereof (as distinguished from temporary possession contemplating the return to the Contractor), then, while the County is in possession of the same, the Contractor, notwithstanding its normal responsibilities, shall be relieved of liability for loss or damage to structure other than that resulting from the Contractor's fault or negligence. Such taking of possession by the County shall not relieve the Contractor from any provisions of this Contract respecting such structure, other than to the extent specified in the preceding sentence, nor constitute a final acceptance of such structure.

  • Rights Not Transferable The rights of the Company Securityholders under this Agreement as of immediately prior to the Effective Time are personal to each such Company Securityholder and shall not be transferable for any reason, other than by operation of law, will or the laws of descent and distribution without action taken by or on behalf of such Company Securityholder. Any attempted transfer of such right by any holder thereof (other than as permitted by the immediately preceding sentence) shall be null and void.