Change in Management/Control. A change in the management of or controlling interest in the Borrower or the Guarantor without the prior written consent of the Lender.
Change in Management/Control. If the Borrower is a company make any change in the constitution, management or existing ownership or control or share capital of the Borrower;
Change in Management/Control. If (a) any Change of Control shall occur, (b) Edwaxx X. Xxxxxxxx xx his immediate family shall cease to own or control, directly or indirectly, at least twenty percent (20%) of the voting stock of Borrower, or (c) either (i) Edwaxx X. Xxxxxxxx xxxll cease to perform his role as chief executive officer of Borrower, or (ii) Edwaxx X. Xxxxxxxx xxxll die or become incompetent and, within one hundred eighty (180) days thereafter, Borrower shall not have selected a replacement Chief Executive Officer with the expertise and management skills, in the sole opinion of the Majority Banks, necessary for the successful management of the Companies.
Change in Management/Control. You must let us know about any changes in management control as soon as reasonably possible. A change in management control is defined as any change in control of your business where more than 45% of equity in your business is transferred to another party. Failure to notify us in writing about a change in management control may result in the suspension or termination of Services and/or access to the ClubReady System.
Change in Management/Control. For the purposes of this clause 8, if the Licensee or one of the persons comprising the Licensee is a body corporate, any change in effective management or control of the body corporate (for example, a change in the directorship or shareholding of the company) shall be deemed to be an assignment of this Licence.
Change in Management/Control. You must let us know in advance of any changes in control for Subscriber. You must let us know as soon as possible, but in no event less than 30 days prior to a change in control. A “change in control” means any change in Subscriber control where 50% or more of the equity interest in the business is transferred to another party. We may consider your failure to promptly disclose changes in management control to be a material breach of the Agreement.
Change in Management/Control. Any change in Management Control of the Borrower.
Change in Management/Control. A breach of the provisions of Section 5.15 hereof; provided, however, any such breach which constitutes a breach of Section 28 of the Guaranty shall also be subject to any applicable cure available under Section 28 of the Guaranty;
Change in Management/Control. Raul X. Xxxxxxxxx xxxll not for any reason cease to be the President and Chief Executive Officer of the Borrower. The Borrower shall give the Bank 15 Business Days' prior written notice of the termination or resignation of Raul X. Xxxxxxxxx xx President and Chief Executive Officer of the Borrower. The Borrower shall not make, engage in, or suffer to exist any change, or any transaction which results or could result in a change, in the Control of the Borrower or any Guarantor. As used herein, the term "Control" of a Person means (i) ownership, control, or power to vote 30% or more of any class of voting securities of such Person, directly or indirectly or acting through one or more other Persons; (ii) control in any manner over the election or appointment of a majority of the directors, trustees, managers or general partners (or individuals exercising similar functions) of such Person; (iii) the direct or indirect power to exercise a controlling influence over the management or policies of such Person, whether through the ownership of voting securities, by contract, or otherwise; or (iv) conditioning in any manner the transfer of 30% or more of any class of voting securities of such Person upon the transfer of 30% or more of any class of voting securities of another Person.
Change in Management/Control. The occurrence of a material change in management control, directly or indirectly of the Company, except as specifically contemplated by the Private Placement Memorandum upon consummation of the Private Placement, unless Lender has given its prior, written consent to such change.
