Common use of Notice of Property Transfer Clause in Contracts

Notice of Property Transfer. If the Property Owner intends to transfer all or a portion of the Real Property to a purchaser who, by virtue of assignment or other instrument, becomes the "Company" under and within the meaning of the KICA Covenants, Property Owner shall notify the Town by thirty days prior written notice and provide it a copy of the assignment of such status as the "Company." If the owners of Property Owner intend to sell their ownership interests in Property Owner to an unrelated third party, Property Owner shall inform the Town no fewer than five business days before the earlier of any public announcement of the transfer of ownership or the consummation of the transaction, and Town agrees to hold such information in confidence. This paragraph is intended to include any type of transfer whether legal or equitable and whether it involves the conveyance of Real Property or stock transfer or any type of transfer whatsoever.

Notice of Property Transfer. If the Property Owner intends to transfer all or a portion of the Real Property to a purchaser who, by virtue of assignment or other instrument, becomes the "Company" under and within the meaning of the KICA Covenants, Property Owner shall notify the Town by thirty days prior written notice and provide it a copy of the assignment of such status as the "Company." If the owners of Property Owner intend to sell their ownership interests in Property Owner to an unrelated third party, Property Owner shall inform the Town no fewer than five business days before the earlier of any public announcement of the transfer of ownership or the consummation of the transaction, and Town agrees to hold such information in confidence. This paragraph is intended to include any type of transfer whether legal or equitable and whether it involves the conveyance of Real Property or stock transfer or any type of transfer whatsoever.