Common use of Notice to Grantor Clause in Contracts

Notice to Grantor. If Grantee desires to make any Transfer (other than a Permitted Transfer, for which Grantee must notify Grantor within twenty (20) days after the occurrence of same), then at least twenty (20) days (but no more than one hundred eighty (180) days) prior to the proposed effective date of the proposed Transfer, Grantee shall submit to Grantor a written request (a “Transfer Notice”) for Grantor’s consent, which notice shall include: (i) a statement containing: (a) the name and address of the proposed Transferee; (b) current, certified financial statements of the proposed Transferee, and any other information and materials (including, without limitation, credit reports, business plans, operating history, bank and character references) required by Grantor to assist Grantor in reviewing the financial responsibility, character, and reputation of the proposed Transferee; (c) all of the principal terms of the proposed Transfer; and (d) such other information and materials as Grantor may reasonably request (and if Grantor requests such additional information or materials, the Transfer Notice shall not be deemed to have been received until Grantor receives such additional information or materials) and (ii) one (1) original of the proposed assignment or other Transfer setting forth the major economic terms thereof on a form reasonably approved by Grantor and four (4) originals of the Grantor’s standard form of “Assignment and Assumption of Agreement and Consent” or other Transfer documentation executed by Grantee and the proposed Transferee. If Grantee modifies any of the terms and conditions relevant to a proposed Transfer specified in the Transfer Notice, Grantee shall re-submit such Transfer Notice to Grantor for its consent pursuant to all of the terms and conditions of this Article 10.