Common use of Required Notice and Effective Date Clause in Contracts

Required Notice and Effective Date. Any Participant desiring to ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Agent or any Participant in connection with any such disposition by a Participant under this Section 12.1 ------------ shall be borne by such transferring Participant. In the event of a transfer under this Section 12.1, any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 shall have been ------------ satisfied.

Appears in 2 contracts

Samples: Participation Agreement (Quantum Corp /De/), Participation Agreement (Vitesse Semiconductor Corp)

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Required Notice and Effective Date. Any Participant desiring to ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Agent or any Participant in connection with any such disposition by a Participant under this Section 12.1 ------------ shall be borne by such transferring Participant. In the event of a transfer under this Section 12.1, any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 shall have been ------------ satisfied.

Appears in 2 contracts

Samples: Participation Agreement (Quantum Corp /De/), Participation Agreement (Chase Industries Inc)

Required Notice and Effective Date. Any Participant desiring to ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Agent or any Participant in connection with any such disposition by a Participant under this Section 12.1 ------------ shall be borne by such transferring Participant. In the event of a transfer under this Section 12.1, any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer shall become effective upon the later of (iof(i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 shall have been ------------ satisfied.. (b)

Appears in 1 contract

Samples: Participation Agreement (Vitesse Semiconductor Corp)

Required Notice and Effective Date. Any Participant desiring to ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, Lessee and the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Lessee, the Agent or any Participant in connection with any such disposition by a Participant under this Section SECTION 12.1 ------------ shall be borne by such transferring Participant. In the event of a transfer under this Section SECTION 12.1, any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section SECTION 9. --------- Any such proposed transfer shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section SECTION 12.1 shall have been ------------ satisfied.

Appears in 1 contract

Samples: Participation Agreement (Triquint Semiconductor Inc)

Required Notice and Effective Date. Any Participant desiring If a Certificate Holder desires to ---------------------------------- effect a transfer of its interest Certificates (or any portion thereof), it shall give written notice of each such proposed transfer to the Lessee, the Agent Indenture Trustee and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Agent Indenture Trustee or any Participant in connection with any such disposition by a such Participant under this Section 12.1 ------------ 12.1(c) shall be borne by such transferring Participant. In the event of a transfer under this Section 12.112.1(c), any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 12.1(c) shall have been ------------ satisfied.

Appears in 1 contract

Samples: Participation Agreement (Peoplesoft Inc)

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Required Notice and Effective Date. Any Participant desiring to effect ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, Lessee and the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-of- pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Lessee, the Agent or any Participant in connection with any such disposition by a Participant under this Section 12.1 ------------ shall be borne by such ------------ transferring Participant. In the event of a transfer under this Section 12.1, ------------ any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer --------- shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 shall have been ------------ satisfied.. ------------

Appears in 1 contract

Samples: Participation Agreement (Asyst Technologies Inc /Ca/)

Required Notice and Effective Date. Any Participant desiring to ---------------------------------- effect a transfer of its interest shall give written notice of each such proposed transfer to the Lessee, the Agent and each other Participant at least five (5) Business Days prior to such proposed transfer, setting forth the name of such proposed transferee, the percentage or interest to be retained by such Participant, if any, and the date on which such transfer is proposed to become effective. All reasonable out-of-pocket costs (including, without limitation, legal expenses) incurred by the Lessor, the Agent or any Participant in connection with any such disposition by a Participant under this Section 12.1 ------------ shall be borne by such transferring Participant. In the event of a transfer under this Section 12.1, any expenses incurred by the transferee in connection ------------ with its review of the Operative Documents and its investigation of the transactions contemplated thereby shall be borne by such transferee or the relevant Participant, as they may determine, but shall not be considered costs and expenses which the Lessee is obligated to pay or reimburse under Section 9. --------- Any such proposed transfer shall become effective upon the later of (i) the date proposed in the transfer notice referred to above and (ii) the date on which all conditions to such transfer set forth in this Section 12.1 shall have been ------------ satisfied.

Appears in 1 contract

Samples: Participation Agreement (Quantum Corp /De/)

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