Transfer of Percentage Interests Clause Samples

The "Transfer of Percentage Interests" clause governs how a party may assign or transfer their ownership share or stake in a particular agreement or entity to another party. Typically, this clause outlines the conditions under which such transfers are permitted, such as requiring prior written consent from other stakeholders or compliance with specific procedures. For example, it may restrict transfers to third parties or set out notification requirements. The core function of this clause is to control changes in ownership, ensuring that all parties are aware of and can consent to new participants, thereby maintaining stability and predictability in the agreement's structure.
Transfer of Percentage Interests. 17.1 PETCO shall be entitled to transfer all or part of its Percentage Interest in the Exploration Permit(s), in accordance with the provisions of the Hydrocarbon Code, and subject to the provisions of the Association Contract. Any transfer of PETCO’s Percentage Interest in the Exploration Permit(s) during the validity of an Exploration Period, may not be made without the prior written authorization of the Minister in charge of Energy. If such a transfer takes place, the Parties shall enter into an amendment to this Agreement to define the new Percentage Interests and the corresponding commitments. 17.2 Any Party shall be entitled at any time to transfer all or part of its Percentage Interest in any Exploitation Concession, independently from the other Exploitation Concession(s) in accordance with the provisions of the Hydrocarbon Code and subject to the provisions of the Association Contract. If such a transfer takes place, the Parties shall enter into an amendment to this Agreement to recognize the new Percentage Interests and the corresponding commitments. 17.3 The transferee of any such Percentage Interest shall become a Private Party upon the completion of the transfer of the Percentage Interest to it in accordance with the provisions of the Hydrocarbon Code and the provisions of the Association Contract. The Private Party(ies) shall be jointly and severally responsible for the obligations of PETCO set out in this Agreement.
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Transfer of Percentage Interests. If a Non-Defaulting Member shall elect to make a Capital Contribution on behalf of a Defaulting Member (such Non-Defaulting Member being hereinafter referred to as the “Contributing Member”) pursuant to Sections 11.3(a)(i) or (ii) above and the Percentage Interest of the Defaulting Member shall be transferred to the Contributing Member, then the Percentage Interest acquired by each Contributing Member shall be an amount equal to a fraction the numerator of which is equal to 150% of the amount of the Capital Contribution the Contributing Member has made pursuant to Sections 11.3(a)(i) or (ii) and the denominator of which is equal to the total Capital Contributions made by all Members through and including the date such Contributing Member made the Capital Contribution pursuant to Sections 11.3(a)(i) or (ii). The Percentage Interest of the Defaulting Member shall be reduced by the sum of all Percentage Interests transferred to the Contributing Members pursuant to the preceding sentence. After the date that the Non-Defaulting Member elects to acquire the Percentage Interests pursuant to Sections 11.3(a)(i) or (ii) above, there shall be no right on the part of the Defaulting Member to cure such Default, such Default being deemed to have been cured by the Non-Defaulting Member; provided, however, that the Non-Defaulting Member shall continue to have the right to purchase the remaining Membership Interest of the Defaulting Member as provided in Section 10.2 during the period specified therein.
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Transfer of Percentage Interests. 17.1 Any member of CONTRACTOR GROUP shall be entitled to transfer all or part of its Percentage Interest in the Exploration Permits, in accordance with the provisions of the Hydrocarbon Code, and subject to the provisions of the Association Contract. Any transfer of such CONTRACTOR GROUP member’s Percentage Interest in the Exploration Permits during the validity of an Exploration Period, may not be made without the prior written authorization of the Minister in charge of Energy. Notwithstanding the foregoing and for the avoidance of doubt, the Parties agree and acknowledge that any pledge, mortgage charge, lien, hypothecation, encumbrance, by way of security of its interest under the Exploration Permits will require only notification to the Minister in charge of Energy. If such a transfer takes place, the Parties shall enter into an amendment to this Agreement to define the new Percentage Interests and the corresponding commitments. 17.2 Any Party shall be entitled at any time to transfer all or part of its Percentage Interest in any Exploitation Concession, independently from the other Exploitation Concession(s) in accordance with the provisions of the Hydrocarbon Code and subject to the provisions of the Association Contract. If such a transfer takes place, the Parties shall enter into an amendment to this Agreement to recognize the new Percentage Interests and the corresponding commitments. 17.3 The transferee of any such Percentage Interest shall become a Private Party to this Agreement upon the completion of the transfer of the Percentage Interest to it in accordance with the provisions of the Hydrocarbon Code and the provisions of the Association Contract. The Private Party(ies) shall be jointly and severally responsible for the obligations of CONTRACTOR GROUP set out in this Agreement.
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Transfer of Percentage Interests. If a Member transfers all or any portion of the Member's Percentage Interest pursuant to this Agreement during any Fiscal Period, the Profits (or Losses) allocated to the Members for each such Fiscal Period shall be allocated among the Members in proportion to their respective Percentage Interests from time to time during the Fiscal Period, in accordance with section 706 of the Code, using any convention permitted by law and selected by the Managing Member.
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Transfer of Percentage Interests. Effective upon execution and delivery of this Agreement, each of Visa and Sterling Payot hereby irrevocably conveys and assigns to Yahoo all of their right, title and interest in the Company, including, without limitation, all Percentage Interests held by Visa and Sterling Payot pursuant to the LLC Agreement. Visa and Sterling Payot acknowledge and agree that after the Effective Date they shall have no equity or other interest of any kind in the Company.
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Transfer of Percentage Interests. A Percentage Interest which is transferred in accordance with the terms of this Agreement shall be transferable on the books of the Company by the record holder thereof in person or by such record holder’s duly authorized attorney, but, except as provided in Section 4.3 with respect to lost, stolen or destroyed certificates, in the event a Company Certificate has been issued, no transfer of a Percentage Interest shall be entered until the previously issued Company Certificate representing such Percentage Interest shall have been surrendered to the Company and canceled and a replacement Company Certificate issued to the assignee of such Percentage Interest in accordance with such procedures as the Board of Directors may establish. In the event of a Transfer of less than all of a Member’s Percentage Interests and if Company Certificates have been issued, the Board of Directors shall issue to the transferring Member a new Company Certificate representing the Percentage Interests not being transferred. Except as otherwise required by law, the Company shall be entitled to treat the record holder of a Company Certificate on its books as the owner thereof for all purposes regardless of any notice or knowledge to the contrary.
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Transfer of Percentage Interests 
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Related to Transfer of Percentage Interests

  • Percentage Interests If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease. If the Partners’ Percentage Interests are adjusted pursuant to this Section 4.6, the Profits and Losses for the taxable year in which the adjustment occurs shall be allocated between the part of the year ending on the day when the adjustment occurs and the part of the year beginning on the following day either (i) as if the taxable year had ended on the date of the adjustment or (ii) based on the number of days in each part. The General Partner, in its sole and absolute discretion, shall determine which method shall be used to allocate Profits and Losses for the taxable year in which the adjustment occurs. The allocation of Profits and Losses for the earlier part of the year shall be based on the Percentage Interests before adjustment, and the allocation of Profits and Losses for the later part shall be based on the adjusted Percentage Interests.

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Transfer of Partnership Interests The foregoing power of attorney shall survive the delivery of an instrument of transfer by any Partner of the whole or any portion of or interest in its Partnership Interest, except that (i) where a Partner becomes a Former Partner, or (ii) where a Transferee of such Partnership Interest has been approved as a successor Partner and the Transferor shall thereupon cease being a Partner (all in accordance with this Agreement), then the power of attorney of the Former Partner or the Transferor Partner, as the case may be, shall survive the cessation of Partner status or the delivery of such instrument of transfer, as the case may be, for the sole purpose of enabling the attorneys-in-fact for such Former Partner or the Transferor Partner (or any of them) to execute, swear to, acknowledge and file any and all instruments necessary to effectuate or reflect such cessation, transfer and succession.

  • Certificates and Transfer of Interests Section 4.01. Initial Ownership 12 Section 4.02. The Certificates 12 Section 4.03. Execution, Authentication and Delivery of Certificates 12 Section 4.04. Registration of Transfer and Exchange of Certificates 12 Section 4.05. Mutilated, Destroyed, Lost or Stolen Certificates 13 Section 4.06. Persons Deemed Owners 14 Section 4.07. Access to List of Certificateholders’ Names and Addresses 14 Section 4.08. Maintenance of Office or Agency 14 Section 4.09. Restrictions on Transfers of Certificates 14

  • Transfer of Membership Interests (a) The Member may transfer its Membership Interest, in whole but not in part, but the transferee shall not be admitted as a Member except in accordance with Section 6.07. Until the transferee is admitted as a Member, the Member shall continue to be the sole member of the Company (subject to Section 1.02) and to be entitled to exercise any rights or powers of a Member of the Company with respect to the Membership Interest transferred. (b) To the fullest extent permitted by law, any purported transfer of any Membership Interest in violation of the provisions of this LLC Agreement shall be wholly void and shall not effectuate the transfer contemplated thereby. Notwithstanding anything contained herein to the contrary and to the fullest extent permitted by law, the Member may not transfer any Membership Interest in violation of any provision of this LLC Agreement or in violation of any applicable federal or state securities laws.