Automatic Transfer. The terms of this note include the requirement that payments are made to the loan by automatic transfer from the Borrower's primary checking account.
Automatic Transfer. For consideration of $1.00, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows. All of the Membership Interests of the Member shall be deemed to have been transferred to the Designated Transferee(s) designated as provided in Section 3(h), without further action by the Member, automatically and immediately upon the occurrence of any of the following events (each a “Transfer Event”); provided, however, that until the Designated Transferee(s) shall have been designated by Service Company pursuant to Section 3(h) and have obtained the Transfer Approval pursuant to Section 3(a), the Member shall continue to hold the Membership Interests in trust for the benefit of the Designated Transferee(s):
Automatic Transfer. The Shares shall be deemed to have been transferred to Successor Shareholder, without further action by Shareholder, immediately upon the occurrence of any Transfer Event; provided, however, that until the designation of Successor Shareholder has been made effective pursuant to Section 11 below, Shareholder shall continue to hold the Shares in trust for the benefit of Successor Shareholder, subject to the limitations imposed by Section 10.3 below.
Automatic Transfer. 26 2.6 Conversion......................................................................27 2.7 Legend..........................................................................27 ARTICLE 3
Automatic Transfer. Although there is any provision hereunder, at the date of initial public offering, the outstanding principal of the Bonds shall be deemed as being automatically converted into ordinary shares at an applicable conversion price. When automatic conversion occurs, any conversion right conferred in Article 4 shall cease. For the purpose of automatic conversion, the Conversion Date shall be the date of automatic conversion.
Automatic Transfer. If an Offering Stockholder (a "Required Transferor") is required to Transfer shares of Stock to the other Purchaser (the "Transferee Stockholder") pursuant to this Agreement and the Required Transferor is unable or unwilling to Transfer such shares of Stock on or prior to the closing date for such Transfer, then, on such closing date, upon payment of the purchase price therefor by the Transferee Stockholder to the Company to hold in a segregated account for the benefit of the Required Transferor and compliance by the Transferee Stockholder with the remaining terms of such Transfer, the shares of Stock owned by the Required
Automatic Transfer. The Shareholder agrees that immediately upon the occurrence of a Share Transfer Event), all of the Secondary Shares held by the Shareholder (or any heir, executor, administrator, personal representative, estate, testamentary beneficiary, donee, trustee in bankruptcy, successor or assignee of the Shareholder) shall be immediately deemed Transferred to the Buyer, without action by the Shareholder. Notwithstanding the foregoing, Shareholder shall execute and deliver any and all appropriate instruments of transfer (as determined by the Buyer in its sole discretion) to convey the Secondary Shares to Buyer.
Automatic Transfer. The Seller declares and warrants that no less and no more than all contracts of employment between, on the one hand, each Dutch or French Business Seller and, on the other hand, each Business Employee employed by such Persons will be transferred to the Purchaser or the Purchaser’s Group, by mere effect of applicable Law, in compliance with Article 7:663 of the Netherlands Civil Code in the Netherlands, and Article L.1224-1 of the French Labor Code in France. The Seller will indemnify and hold harmless the Purchaser and, as an irrevocable third-party stipulation, each member of the Purchaser’s Group for all and any costs and Liabilities, resulting directly or indirectly from any breach of such warranty, subject to Paragraph 4.2.
Automatic Transfer. The transfer of one or more Class B Common Units in accordance with the Umbrella LLC Agreement shall result in the automatic transfer of an equal number of share(s) of Class B Common Stock to the same transferee. No holder of one or more shares of Class B Common Stock shall transfer such share(s) other than with an equal number of Class B Common Units (as adjusted to account for any subdivision (by split, subdivision, exchange, dividend, reclassification, recapitalization or otherwise), combination (by reverse split, exchange, reclassification or otherwise) or similar reclassification or recapitalization of the outstanding Class B Common Units into a greater or lesser number occurring after the first issuance of shares of Class B Common Stock without a proportionate and corresponding subdivision, combination or similar reclassification or recapitalization of the outstanding shares of Class B Common Stock). The transfer restrictions described in this Section A(4)(a) of this Article FOURTH are referred to as the “Restrictions”.
Automatic Transfer. Until (i) the initial drawdown of funds by, or the other issuance of credit to, ACE under binding agreements among ACE and third parties (which may include the U.S. government) that obligate such parties to lend to ACE funds for the construction of the ACP, and (ii) the execution and the delivery of the ESA, the Guaranty and the LTSA shall each have occurred, then either Party may by notice to the other Party effect an automatic transfer hereunder (and automatically if each of the foregoing shall not have occurred on or before the Third Closing Termination Date,1 unless otherwise agreed by the Members) then B&W TSG’s Membership Interests shall, without further action of, and at no cost to, the Members, automatically transfer to Holdings, free and clear of all liens and other encumbrances and B&W TSG shall deliver an officer’s certificate to Holdings to that effect and representing and warranting that B&W TSG is the holder of good and clear title to the Membership Interests being transferred. Each Member agrees to cooperate and to take all actions and execute all documents reasonably necessary or appropriate to reflect the transfer of B&W TSG’s Membership Interests to Holdings. In such event, and notwithstanding any other provision of this Article IV: (i) B&W TSG shall not be entitled to any consideration in connection with such transfer including, but not limited to, the break-up fee described in Section 4.12; (ii) Holdings shall cause the Company to timely pay to B&W TSG or its affiliates all amounts due as of the date of such automatic transfer under the Fee Agreement, any seconding agreement or any other contract with B&W TSG or its affiliates to which the Company is a party; and (iii) the Company shall indemnify and hold harmless B&W TSG from all costs, expenses or liabilities of the Company incurred from or after the date of such transfer.
