Succession of Dealership Absent a Succession Plan Sample Clauses

Succession of Dealership Absent a Succession Plan. In the event of the death, disability, or mental incapacity of DEALER, or any partner, member, or shareholder of DEALER, at any time during the term of the Agreement and without a Succession Plan, the legal representative of DEALER, together with all surviving partners, members, or shareholders of DEALER, if any, shall, within sixty (60) days of such death, disability, or mental incapacity, notify MANUFACTURER in writing of the Designated Successor’s intention to succeed to the ownership of the dealership. In the event of the retirement of the DEALER, the DEALER shall notify MANUFACTURER no later than sixty (60) days prior to the impending date of retirement.
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