Effective Transfer Date definition
Examples of Effective Transfer Date in a sentence
All distributions on or before the Effective Transfer Date shall be made to the transferor and all distributions thereafter shall be made to the transferee.
Any transfer of an Interest to a third party or to a Member permitted under this Section 10 shall be effective as of midnight of the last day of the calendar month in which it is made, or, at the election of a Majority-in-Interest of the remaining Members, as of 7:00 A.M. the day following the date of the transfer (the "Effective Transfer Date").
Notwithstanding anything to the contrary in this Agreement, this Agreement, and the transfer and assignment evidenced by this Agreement, will not be effective unless and until the Effective Transfer Date has occurred.
The transferring Member shall cease to be, and the transferee shall become, a substituted Member as to the Interest so Transferred at such time as the Effective Transfer Date has passed.
The effective date of a permitted Transfer of an Interest shall be no earlier than the last day of the calendar month that includes the date on which the Manager(s) had received such documentation as they shall determine in their discretion, is required pursuant to this Article IX (the "Effective Transfer Date").
All distributions on or before the Effective Transfer Date shall be made by the transferor and all distributions thereafter shall be made to the transferee.
With respect to any and all distributions made by the Liquidation Trust Administrator with respect to the Trust that have a “record date” on or after the Effective Transfer Date, the Liquidation Trust Administrator will pay such distributions with respect to the Transferred Interest to the Transferee.
Distributions to the Transferor will cease on and after the Effective Transfer Date and all allocations of income/losses will be allocated based on the close of the books as of the Effective Transfer Date.
The Transferor requests that the Liquidation Trust Administrator update its books and records as of the Effective Transfer Date to indicate that the Transferee is the record owner of the Transferred Interest.
The Assets are hereby sold effective on the Effective Transfer Date “AS IS, WHERE IS AND WITH ALL FAULTS”.