Common use of Change in Ownership of Substantial Assets Clause in Contracts

Change in Ownership of Substantial Assets. A change in the ownership of a substantial portion of the Company’s assets occurs on the date that any one person, or more than one person acting as a group, 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 forty percent (40%) of the total gross fair market value of the assets of the Company immediately prior to such acquisition or acquisitions. For this purpose, “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.

Change in Ownership of Substantial Assets. A change in the ownership of a substantial portion of the CompanyCorporation’s assets occurs on the date that any one person, or more than one person acting as a group, 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 Corporation that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of the assets of the Company Corporation immediately prior to such acquisition or acquisitions. For this purpose, “gross fair market value” means the value of the assets of the CompanyCorporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.