Examples of Permitted Transferee in a sentence
Provided further if such Investor Permitted Transferee ceases to be the Affiliate of the Investor or ceases to be part of the same Beneficiary Class as the Investor, then it shall Transfer the Equity Securities back to the relevant Investor.
Notwithstanding anything contained in Clause 4.4 (Founders’ ROFO) above and Clause 5.5 (Tag Along Rights) below, the Investors may, at any time, Transfer all or any of the Equity Securities held by them to any of their respective Affiliates or to any trust or estate as long as it is the same Beneficiary Class (“Investor Permitted Transferee”), provided such Investor Permitted Transferee is an Eligible Third Party.
If Seller provides NYSERDA with written notice of its intent to effectuate a Change of Control setting forth a description of the transferee describing how it fits within the definition of Permitted Transferee and NYSERDA does not respond within fifteen (15) Business Days, NYSERDA shall be deemed to have confirmed that the proposed Change of Control does not require NYSERDA’s consent.
In the case of an assignment to a Permitted Transferee, Tenant shall be released or discharged from all of its covenants and obligations under this Agreement, except such obligations as shall have accrued prior to the effective date of any such assignment or transfer, and Landlord agrees to look solely to the Permitted Transferee for performance of such obligations.
Notwithstanding Section 8.01, NYSERDA’s consent shall not be required for any Change of Control that constitutes a disposition to a Permitted Transferee.