Change in Entity Clause Samples
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Change in Entity. If Tenant is a corporation, any dissolution, merger, consolidation, or other reorganization of tenant, or the sale or the transfer of the controlling percentage of the capital stock of Tenant, or the sale of 51% or more of the value of the assets of Tenant, shall be deemed a voluntary assignment. The phrase "controlling percentage" means the ownership of, and right to vote, stock possessing at least 51% of the total combined voting power of all classes of- Tenant's capital stock issued, outstanding, and entitled to vote for the election of directors. This paragraph shall not apply to corporations the stock of which is traded through an exchange or over the counter.
Change in Entity. Purchaser acknowledges and agrees that (i) a conversion by Seller of its form of business organization, (ii) a merger by Seller with any entity(ies), or (iii) a change of Seller’s name or any or all of the above in combination, shall not be deemed to be a change to this Agreement.
Change in Entity. Prudential may terminate or modify this Agreement if First Express undergoes a change which is in essence one of ownership or control, including but not limited to, merger, asset sale, transfer of a substantial portion of business, or sale of a substantial share of First Express' general voting securities.