This office lease provision states that it is an unpermitted assignment for partners to have a change in their share of partnership ownership and thus a default under the lease. Generally, this type of change in ownership is couched in those provisions dealing with changes in share ownerships of corporations.
Collin Texas Provision: The Collin Texas Provision deals with changes in share ownership of corporations and changes in share ownership of partnerships. This provision outlines the rules and regulations that govern the transfer, sale, and acquisition of shares in both corporation and partnership structures. In Collin, Texas, there are various types of provisions that address these specific scenarios, each with its own set of rules and requirements. They are as follows: 1. Collin Texas Provision on Transfer of Shares in Corporations: This provision focuses on the transfer of shares within a corporation. It lays out the legal process and requirements when a shareholder wishes to sell or transfer their ownership interests in a corporation. It may involve obtaining consent from existing shareholders, complying with regulatory filings, and adhering to certain restrictions or limitations imposed by the corporation's bylaws or shareholders' agreement. 2. Collin Texas Provision on Acquisition of Shares in Corporations: This provision outlines the procedures and guidelines for acquiring shares in a corporation. It dictates the process of acquiring ownership interests in a corporation through purchasing shares from existing shareholders or issuing new shares. It may include provisions for due diligence, valuation methods, shareholder approvals, and compliance with applicable securities laws. 3. Collin Texas Provision on Changes in Share Ownership of Partnerships: Unlike corporations, partnerships have different rules regarding changes in share ownership. This provision focuses specifically on partnerships and the transfer or acquisition of partnership interests. It may address requirements for admission of new partners, withdrawal of existing partners, and the buyout or sale of partnership interests. Overall, these provisions aim to protect the rights and interests of shareholders and partners involved in these transactions, ensuring transparency, fairness, and compliance with applicable laws and regulations. It is essential for individuals and entities engaged in share ownership changes in Collin, Texas, to consult legal professionals familiar with these provisions to ensure compliance and avoid any potential legal disputes.Collin Texas Provision: The Collin Texas Provision deals with changes in share ownership of corporations and changes in share ownership of partnerships. This provision outlines the rules and regulations that govern the transfer, sale, and acquisition of shares in both corporation and partnership structures. In Collin, Texas, there are various types of provisions that address these specific scenarios, each with its own set of rules and requirements. They are as follows: 1. Collin Texas Provision on Transfer of Shares in Corporations: This provision focuses on the transfer of shares within a corporation. It lays out the legal process and requirements when a shareholder wishes to sell or transfer their ownership interests in a corporation. It may involve obtaining consent from existing shareholders, complying with regulatory filings, and adhering to certain restrictions or limitations imposed by the corporation's bylaws or shareholders' agreement. 2. Collin Texas Provision on Acquisition of Shares in Corporations: This provision outlines the procedures and guidelines for acquiring shares in a corporation. It dictates the process of acquiring ownership interests in a corporation through purchasing shares from existing shareholders or issuing new shares. It may include provisions for due diligence, valuation methods, shareholder approvals, and compliance with applicable securities laws. 3. Collin Texas Provision on Changes in Share Ownership of Partnerships: Unlike corporations, partnerships have different rules regarding changes in share ownership. This provision focuses specifically on partnerships and the transfer or acquisition of partnership interests. It may address requirements for admission of new partners, withdrawal of existing partners, and the buyout or sale of partnership interests. Overall, these provisions aim to protect the rights and interests of shareholders and partners involved in these transactions, ensuring transparency, fairness, and compliance with applicable laws and regulations. It is essential for individuals and entities engaged in share ownership changes in Collin, Texas, to consult legal professionals familiar with these provisions to ensure compliance and avoid any potential legal disputes.
