Common use of Change in Ownership or Structure Clause in Contracts

Change in Ownership or Structure. Originating Agent shall notify THDA of any name change, any change in ownership, any change in organizational structure, any change with respect to geographic location or office location, or any change with respect to personnel of Originating Agent involved in originating, processing or closing THDA Mortgage Loans at any of the Approved Locations at least thirty (30) days prior to the effective date of any such change. Originating Agent shall promptly provide all information and documentation THDA may reasonably require to demonstrate Originating Agent’s or any successor, successor in interest, transferee or assignee continued eligibility and suitability to act as an originating agent for THDA Mortgage Loans. THDA may, at its sole discretion, elect to (i) continue this Agreement with Originating Agent or approved successor, successor in interest, transferee or assignee; (ii) require Originating Agent or approved successor, successor in interest, transferee or assignee to execute a new Agreement or appropriate amendments hereto, if Originating Agent or approved successor, successor in interest, transferee or assignee wishes to continue to originate, process and close THDA Mortgage Loans; or (iii) terminate this Agreement with no additional compensation to Originating Agent or approved successor, successor in interest, transferee or assignee.