Common use of Change in Business; Change in Control or Executive Office Clause in Contracts

Change in Business; Change in Control or Executive Office. Borrower shall not engage in any business, or permit any of its Subsidiaries to engage in any business, other than as reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall not have a Change in Control and will not, without thirty (30) days’ prior written notification to Bank, relocate its chief executive office, change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfected.

Appears in 3 contracts

Samples: Loan and Security Agreement (Adam Inc), Loan and Security Agreement (Unilens Vision Inc), Loan and Security Agreement (Cea Acquisition Corp)

AutoNDA by SimpleDocs

Change in Business; Change in Control or Executive Office. Borrower shall not engage Engage in any business, or permit any of its Subsidiaries to engage in any business, other than as or reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall will not have a Change in Control and will not, without thirty (30) days’ 30 days prior written notification to Bank, relocate its chief executive office, change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfected.

Appears in 3 contracts

Samples: Loan and Security Agreement (Evolve Software Inc), Loan and Security Agreement (Us Search Corp Com), Loan and Security Agreement (Evolve Software Inc)

Change in Business; Change in Control or Executive Office. Borrower shall not engage in any material line of business, or permit any of its Subsidiaries to engage in any material line of business, other than as reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall not have a Change in Control and will not, without thirty (30) days’ prior written notification to Bank, relocate its chief executive office, change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfected.

Appears in 1 contract

Samples: Loan and Security Agreement (Verilink Corp)

Change in Business; Change in Control or Executive Office. Borrower shall not engage Engage in any business, or permit any of its Subsidiaries to engage in any business, other than as reasonably related or incidental to the businesses currently engaged in by BorrowerBorrower and any business substantially similar or related thereto (or incidental thereto). Borrower shall will not have a Change in Control and will not, without thirty (30) days’ days prior written notification to Bank, relocate its chief executive office, change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfected.

Appears in 1 contract

Samples: Loan and Security Agreement (Viewlocity Inc)

Change in Business; Change in Control or Executive Office. Borrower shall not engage in any business, or permit any of its Subsidiaries to engage in any business, other than as reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall not have a Change in Control and will not, without thirty fifteen (3015) days’ prior written notification to Bank, relocate its chief executive office, change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfected.

Appears in 1 contract

Samples: Loan and Security Agreement (API Technologies Corp.)

AutoNDA by SimpleDocs

Change in Business; Change in Control or Executive Office. Borrower shall not engage Engage in any business, or permit any of its Subsidiaries to engage in any business, other than as or reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall will not have a Change in Control and will not, without thirty (30) days’ 30 days prior written notification to Bank, change the state of its incorporation, relocate its chief executive office, office or change its state of organization or change any other matter that will or could result in Bank’s security interests in the Collateral becoming unperfectedcorporate name.

Appears in 1 contract

Samples: Loan and Security Agreement (Provide Commerce Inc)

Change in Business; Change in Control or Executive Office. Borrower shall not engage in any business, or permit any of its Subsidiaries to engage in any business, other than as reasonably related or incidental to the businesses currently engaged in by Borrower. Borrower shall not have a Change in Control and will not, without thirty (30) days’ prior written notification to Bank, relocate its chief executive office, change its state of organization incorporation or change any other matter that will or could result in Bank’s security interests in the Collateral becoming to become unperfected.

Appears in 1 contract

Samples: Loan and Security Agreement (Salix Pharmaceuticals LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!