Permissible Transfer Clause Samples
Permissible Transfer. Notwithstanding anything to the contrary contained in this Article, any Member may transfer all or any part of its Interest in the Company only to the Company unless the Manager provides that it is permissible to otherwise transfer. Such permission shall be granted only in writing to the Member at their address of record.
Permissible Transfer. In addition to those permitted transfers described in the Agreement, the County’s “OPTION” as defined in the Agreement shall not apply to the transfer or conveyance of the Property into a revocable living trust where Owner is a Trustor, provided:
a. Owner obtains the consent of the County’s designee;
b. The Trust document, and any Successor Trustee, specifically acknowledges and affirms the existence of restrictions on the use and disposition of the Unit including, but not limited to, the obligation to sell the Unit to an Eligible Purchaser at no more than the Maximum Resale Value, as those terms are described in the Agreement;
c. The Deed conveying the Unit into the Trust also specifically acknowledges and affirms the existence of restrictions on the resale of the Property and references the Agreement; and
d. Owner agrees to cooperate and respond promptly to any County requests to owner for owner certification and monitoring.
Permissible Transfer. If Employer does not elect to purchase all the Subject Shares within the period provided, and such transfer is otherwise permissible under Section 5(a), then all such Subject Shares may be disposed of by Executive to the prospective transferee named in the Company Notice, at the price and on the terms and conditions set forth in the Company Notice, at any time within one hundred and eighty (180) days after delivery of the Company Notice pursuant to Section 5(a), free and clear of all restrictions except as provided in Section 5(a). Employer, as a condition to the effectiveness of such transfer, may request that the prospective transferee agree that the Subject Shares so purchased will be held subject to the right of first refusal contained in this Section 5, and may require such prospective transferee to execute a document evidencing that such shares are subject to this right of first refusal.