Change in Business or Ownership. Engage, or permit any Subsidiary to engage, in any business other than the businesses engaged in by Borrower or such Subsidiary as of the Effective Date, as applicable, or reasonably related thereto or have a material change in Borrower’s ownership equal to or greater than fifty percent (50%) other than (a) by the sale by Borrower of Borrower’s Equity Securities in a public offering or (b) to venture capital or strategic investors so long as Borrower identifies to Bank the venture capital or strategic investors prior to the execution of a definitive agreement relating to such change of ownership and any such venture capital investors that purchase or otherwise acquire twenty-five percent (25%) or more of the ownership of Borrower in one or a series of transactions have cleared Bank’s “know your customer” checks.
Change in Business or Ownership. Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower or reasonably related thereto or have a material change in its ownership equal to or greater than twenty-five percent (25%) (i) other than by the sale by Borrower of Borrower’s Equity Securities in a public offering or (ii) to venture capital investors so long as Borrower identifies to Collateral Agent the venture capital investors prior to the execution of a definitive agreement relating to such change of ownership and such venture capital investors have cleared each Lender’s “know your customer” checks.
Change in Business or Ownership. Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower or reasonably related thereto or have a material change in its ownership of greater than forty-nine percent (49%) (other than by the sale by Borrower of Borrower’s Equity Securities in a public offering or to venture capital or private equity investors so long as Borrower identifies to Lenders the venture capital investors prior to the closing of the investment).
Change in Business or Ownership. (a) Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by Borrower or such Subsidiary, as applicable, or reasonably related thereto or (b) have a material change in such Co-Borrower’s ownership equal to or greater than twenty-five percent (25%) other than (i) by the sale by such Co-Borrower of such Co-Borrower’s Equity Securities in a public offering or (ii) to venture capital investors so long as Borrower Representative identifies to Lender and Collateral Agent the venture capital investors prior to the execution of a definitive agreement relating to such change of ownership and any such venture capital investors that purchase or otherwise acquire twenty-five percent (25%) or more of the ownership of any Co-Borrower in one or a series of transactions have cleared Lender’s “know your customer” checks.
Change in Business or Ownership. (i) Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by Borrower or such Subsidiary, as applicable, or reasonably related thereto or (ii) enter into any transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty percent (40.0%) of the voting stock of Borrower immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s Equity Securities (y) in a public offering or (z) to venture capital or other institutional investors so long as Borrower identifies to Lender such investors prior to the closing of the transaction and provides to Lender a description of the material terms of the transaction).
Change in Business or Ownership. (i) Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by any Co-Borrower or such Subsidiary, as applicable, or reasonably related thereto or (ii) permit any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), to become, or obtain rights (whether by means of warrants, options, or otherwise) to become, the “beneficial owner” (as defined in Rules 13(d)-3 and 13(d)-5 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of forty nine percent (49%) or more of the ordinary voting power for the election of directors, partners, managers, and members, as applicable, of Borrower Representative (determined on a fully diluted basis) other than (a) resulting from or in connection with the Business Combination Transaction, (b) by the sale by a Co-Borrower of such Co-Borrower’s Equity Securities in a public offering or (c) to venture capital or private equity investors so long as such Co-Borrower identifies to each Lender and Collateral Agent the venture capital or private equity investors at least seven (7) Business Days prior to the execution of a definitive agreement relating to such change of ownership and any such venture capital investor that purchases or otherwise acquires twenty-five percent (25%) or more of the ownership of such Co-Borrower in one or a series of transactions have cleared each Lender’s “know your customer” checks.
Change in Business or Ownership. Change in Business or Ownership. Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by Borrower or such Subsidiary, as applicable, or reasonably related thereto or enter into any transaction or series of related transactions in which holders of Borrower’s voting stock who were not holders of Borrower’s voting stock immediately prior to the first such transaction own more than forty-nine percent (49%) of Borrower’s voting stock immediately after giving effect to such transaction or related series of such transactions other than (a) by the sale by Borrower of Borrower’s Equity Securities in a public offering or private placement of public equity or (b) by the sale by Borrower of Borrower’s Equity Securities to venture capital investors, private equity investors or corporate partners so long as Borrower identifies to Lender and Collateral Agent the venture capital investors, private equity investors or corporate partners prior to the execution of a definitive agreement relating to such change of ownership and any such venture capital investors, private equity investors or corporate partners that purchase or otherwise acquire twenty-five percent (25%) or more of the ownership of Borrower in one or a series of transactions have cleared Lender’s “know your customer” checks.
Change in Business or Ownership. Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by a Loan Party or such Subsidiary, as applicable, or reasonably related thereto.
Change in Business or Ownership. Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by any Co-Borrower or such Subsidiary, as applicable, or reasonably related thereto or enter into a transaction or series of transactions (including any merger or consolidation with Borrower Representative) the result of which any “person” or “group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such Person or its Subsidiaries, and any Person acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), other than the Permitted Holders, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of greater than twenty-five percent (25%) of the shares of the then outstanding capital stock of Borrower Representative ordinarily entitled to vote in the election of directors.
Change in Business or Ownership. Engage, or permit any Subsidiary to engage, in any business other than the businesses currently engaged in by any Co-Borrower or such Subsidiary, as applicable, or reasonably related thereto or have a change in Borrower Representative’s ownership that results in the Borrower Representative’s investors existing as of the date hereof and their Affiliates ceasing to own, directly or indirectly, at least fifty-one percent (51%) of the voting Equity Securities of Borrower Representative other than by the sale by a Co-Borrower of such Co-Borrower’s Equity Securities in a public offering.
