Notice of Involuntary Transfer Sample Clauses
A Notice of Involuntary Transfer clause requires a party to promptly inform the other party if an ownership interest or contractual rights are transferred without the original owner's consent, such as through bankruptcy, foreclosure, or court order. This clause typically outlines the procedures for providing notice, including the timeframe and required documentation, and may specify the consequences of such a transfer. Its core function is to ensure transparency and allow the non-transferring party to respond appropriately, thereby protecting their interests and maintaining the integrity of the contractual relationship.
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Notice of Involuntary Transfer. The Interested Party will deliver a written notice (the "Notice of Involuntary Transfer") to the Company (and, in the case of a Marital Relationship Transfer, to the Former Shareholder) no later than 30 days after such Involuntary Transfer. The Notice of Involuntary Transfer will include (i) a description of the circumstances resulting in the Involuntary Transfer; (ii) the name and address of each Interested Party; and (iii) the type and number of shares of Capital Stock subject to such Involuntary Transfer (the "Subject Shares").
Notice of Involuntary Transfer. The employee and CSEA shall be given notice of a pending involuntary transfer at least five (5) work days in advance of the actual transfer. In an emergency situation where the District did not know of the need for the transfer five (5) days in advance, this limitation shall not apply. If the District does not provide notice at least five (5) days in advance of the actual transfer, the employee shall be entitled to one (1) day of paid leave immediately prior to the actual transfer. If so requested by the employee, the District shall provide the employee with written notification of the pending transfer.
Notice of Involuntary Transfer. Any notice of involuntary Transfer shall identify: the order, decree or directive requiring the involuntary Transfer of an Affected Interest, a description of the Affected Interest, the reason for the involuntary Transfer, and the pertinent terms of the involuntary Transfer. A copy of the relevant order, decree or directive shall be attached to the notice.
Notice of Involuntary Transfer. A teacher subject to an involuntary transfer shall be notified of such transfer as early as possible, and shall be furnished a system-wide list of all vacancies in ISD 196 for which such teacher is qualified and licensed. In order to interview at schools where vacancies may exist, the teacher may request one-half day of leave, without deduction from leave allowance. Such a request must be submitted in advance and is subject to approval by the Director of Human Resources. Involuntarily transferred teachers not selected during this process will be placed in a position(s) for which they are qualified and licensed.
Notice of Involuntary Transfer. 13.3.1.1 Administrative transfers, while at the discretion of the Superintendent or designee, shall require that the unit member to be transferred shall be provided with not less than twenty (20) unit member workdays’ notice prior to the transfer.
13.3.1.2 Notwithstanding the before mentioned notice requirement, if the Superintendent or designee is faced with an unforeseeable or urgent condition that requires an administrative transfer, the notice requirement shall be waived. Said transfers shall be made in the best interests of the District and shall not be made for an arbitrary, capricious, or vindictive reason.
Notice of Involuntary Transfer. If the Option Rights of any Shareholder become subject to any "Involuntary Transfer," as hereinafter defined, then such Shareholder whose Option Rights are affected by such Involuntary Transfer (the "Affected Shareholder") shall promptly, and in any event no later than thirty (30) days after the date of the Involuntary Transfer, give written notice of such Involuntary Transfer ("Notice of Involuntary Transfer") to Company and all Shareholders other than the Affected Shareholder (such other Shareholders also collectively referred to, for purposes of this Agreement, as the "Option Shareholders"), all such Notices of Involuntary Transfer to be mailed on the same date, in accordance with the provisions of Subsection 6.14 of this Agreement. An Involuntary Transfer shall be deemed to have occurred upon any one of the following events:
(a) A transfer of Option Rights to a debtor-in-possession in bankruptcy, whether or not the Shareholder shall serve as debtor-in-possession;
(b) A transfer of Option Rights to a Shareholder's trustee in bankruptcy or to a receiver appointed by any court;
(c) A transfer of Option Rights to a Shareholder's spouse pursuant to a divorce decree;
(d) A transfer of Option Rights to a purchaser at any creditor's or court sale;
(e) A transfer of Option Rights to a guardian or conservator of an incompetent Shareholder;
(f) Issuance of an attachment or turnover order with respect to Option Rights;
(g) Attachment of a federal or state tax lien to the Option Rights; or
(h) Any other transfer of Option Rights by operation of law or by order of any court other than as a result of the death of a Shareholder. The Notice of Involuntary Transfer shall set forth the nature of the Involuntary Transfer, the number of Option Rights affected by the Involuntary Transfer (the "Affected Option Rights") and the address of the Affected Shareholder at which Company and/or the Option Shareholders may give to him the notice of exercise provided for in Subsection 1.09(b). If the Company shall receive actual notice that an Involuntary Transfer has affected any of the Option Rights held by any Shareholder, such actual notice may, at the election of the Company, be treated as a Notice of Involuntary Transfer for purposes of this SECTION I by the Company's giving notice of such election to the Affected Shareholder and the Option Shareholders in accordance with the provisions of Subsection 6.14 of this Agreement.
Notice of Involuntary Transfer. Notice of an involuntary transfer(s) known by the Administration as of June 20 will be given or sent to the affected bargaining unit member prior to July 15. A necessary involuntary transfer(s) after June 20 will be handled on an individual basis.
Notice of Involuntary Transfer. At least thirty (30) days prior ------------------------------ to an Involuntary Transfer by a Shareholder (the "Transferring Shareholder") of any of his Shares, or any right or interest therein (the "Article 6 Shares"), the Transferring Shareholder shall give written notice of such proposed Involuntary Transfer ("Notice of Involuntary Transfer") to the President and the Secretary of the Company and to all other Shareholders. The Notice of Involuntary Transfer must set forth the name and address of the proposed transferee, the number of Article 6 Shares to be transferred, and all other material circumstances surrounding the proposed Involuntary Transfer. Immediately thereafter, the President or the Secretary shall cause a special meeting of the Directors to be called to afford the Company the opportunity to exercise its option to purchase the Article 6
Notice of Involuntary Transfer. The Shareholder, or his or her personal representative, shall notify the Company immediately upon the occurrence of an involuntary Transfer of his or her Shares. The Company shall notify the other Shareholders of any such involuntary Transfer.
Notice of Involuntary Transfer. Notice of involuntary transfer shall be given no later than June 1, except as provided below. The notice shall be in writing and shall include the reason for the transfer.