Common use of Change in Control Covenants Clause in Contracts

Change in Control Covenants. (a) Pre-IPO. MSI covenants and agrees with DSC that if, prior to an IPO, there is a "Change in Control" of MSI or AGI (as defined below), it will promptly take all action available to it to cause Section 4.1(c) of the Amended LLC Agreement to be amended in a manner such that (i) MSI will no longer have the right and power to elect a majority of the members of the Board of Directors of the Company and (ii) MSI's voting power as a Member (as defined in Amended LLC Agreement) will be proportionate to its Membership Percentage (as defined in the Amended LLC Agreement).

Appears in 4 contracts

Samples: Agreement (Cherrywood Holdings Inc), Agreement (Associated Group Inc), Agreement (Teligent Inc)

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