Forced Transfer definition

Forced Transfer means a forced transfer of the interest of the Project Company in, under and pursuant to the Lease, and any rights granted thereunder, pursuant to the Joint Operating Agreement because of a waiver by the Project Company of the Petroleum Assets or its abandonment thereof or because of a forfeiture of the Petroleum Assets as a result of a delay in payment by the Project Company or a transfer to the partners who continue operations in accordance with the provisions of the Joint Operating Agreement.
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Examples of Forced Transfer in a sentence

  • The Forced Transfer allowance shall only be payable once in respect of each removal, even where a removal is carried out in two or more parts.

  • A Forced Transfer occurs where a Staff Member’s position has transferred from one AIMS facility to another AIMS facility (i.e. Townsville to ▇▇▇▇▇▇, ▇▇▇▇▇▇ to Townsville, Darwin to Perth, Perth to Darwin, Townsville to Perth, Perth to Townsville and any new location), and/or the position has become redundant wherein the duties usually performed by the Staff Member are to be performed at a different district location/locality.

  • Where such transfer results in a vacancy in a department the Company shall fill the vacancy from among the employees on the Forced Transfer List having consideration for the wishes of the employees and their respective seniority ranking.

  • During the course of employment a Staff member’s locality of employment may change due to Forced Transfer, or an Approved or Requested Transfer.

  • Employees remaining on the Forced Transfer List shall, subject to Clause 15.12, be transferred to the department where a vacancy exists.

  • The employees to be transferred pursuant to this Clause 15.04 shall be included on a Forced Transfer List.

  • Under a Reversion or a Forced Transfer (defined below), the fair market value of the Home is applicable, which the parties shall determine under an appraisal from a licensed and qualified appraiser acceptable to both the Homeowner and the CLT (that appraisal, the “Appraisal”; the appraiser, the “Appraiser”; the value of the Home under the Appraisal, the “Appraised Value”).

  • Co-Investor Member shall, subject to compliance with Applicable Law, use commercially reasonable efforts to take such actions as may be necessary to consummate the Transfer of the Forced Transfer Units or the Called Units, as applicable, to Intel Member or its designee, including executing, acknowledging and delivering transfer agreements, sale agreements, escrow agreements, consents and any other documents or instruments.

  • In the event of a Forced Transfer, the transferring Member shall indemnify the Company and the remaining Members against any and all loss, damage, or expense (including, without limitation, tax liabilities or loss of tax benefits) arising directly or indirectly as a result of any Transfer or purported Transfer in violation of this Section 7.

  • In the event that the Intel Member determines to exercise the Intel Call Right, the Intel Member shall deliver to each of the Brookfield Member and the Company a revocable written notice of its intention to so exercise the Intel Call Right, which notice shall include the purchaser to which the Forced Transfer Units, Called Units or Brookfield Called Equity (as applicable) will be transferred, whether the Intel Member, one or more of its Affiliates or a Third Party (such notice, the “Intel Call Notice”).