Common use of Assignment and Assumption; Change in Control Clause in Contracts

Assignment and Assumption; Change in Control. Company shall not sell, convey, assign, transfer, hypothecate, encumber or permit or suffer any encumbrance of all or any portion of its interest in this Agreement unless approved in writing in advance by City. Any attempt to so transfer or encumber any such interest in contravention hereof shall be void. In the event of a change in “Control” of Company (as defined below), City shall have the option of terminating this Agreement by written notice to Company. Company shall notify City within 10 days of the occurrence of a change in Control. As used in this Agreement, the term “Control” shall mean the possession, direct or indirect, of either (i) the ownership of or ability to direct the voting of, as the case may be, fifty- one percent (51%) or more of the equity interests, value or voting power in a Company or

Assignment and Assumption; Change in Control. Company shall not sell, convey, assign, transfer, hypothecate, encumber or permit or suffer any encumbrance of all or any portion of its interest in this Agreement unless approved in writing in advance by City. Any attempt to so transfer or encumber any such interest in contravention hereof shall be void. In the event of a change in “"Control” " of Company (as defined below), City shall have the option of terminating this Agreement by written notice to Company. Company shall notify City within 10 days of the occurrence of a change in Control. As used in this Agreement, the term “"Control” " shall mean the possession, direct or indirect, of either (i) the ownership of or ability to direct the voting of, as the case may be, fifty- fifty-one percent (51%) or more of the equity interests, value or voting power in a Company oror (ii) the power to direct or cause the direction of the management and policies of a Company whether through the ownership of voting securities, by contract or otherwise.