Common use of Change in Ownership of a Substantial Portion of the Company’s Assets Clause in Contracts

Change in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

Appears in 11 contracts

Samples: Executive Employment Agreement (TriSalus Life Sciences, Inc.), Executive Employment Agreement (MedTech Acquisition Corp), Executive Employment Agreement (MedTech Acquisition Corp)

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Change in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this subsection clause (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

Appears in 4 contracts

Samples: Executive Employment Agreement (Ascent Solar Technologies, Inc.), Executive Employment Agreement (Ascent Solar Technologies, Inc.), Executive Employment Agreement (Ascent Solar Technologies, Inc.)

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