CHANGE IN RELATIONSHIP BORROWERS Sample Clauses

CHANGE IN RELATIONSHIP BORROWERS. FEI ceases to own directly or indirectly 100 per cent of the issued equity share capital of PEOI, unless such reduction is approved beforehand in writing by the Lender. If at any time and for any reason (and whether within or beyond the control of any party to this Agreement) any Event of Default has occurred then at any time thereafter, the Lender shall by written notice to the Borrowers declare all Outstanding Amounts, all unpaid accrued interest or fees and any other sum then payable under this Agreement to be immediately due and payable, whereupon they shall become so due and payable, unless the event which constitutes the Event of Default is remedied before the Lender has sent the aforementioned notice and the Lender is informed of such remedy by the Borrowers in writing before the Lender sent such notice. EXHIBIT 10.12 However, if the Event of Default as referred to under Clause 14 (e) or 14 (g) is capable of being cured, the Outstanding Amounts, all unpaid accrued interest or fees and any other sum then payable under this Agreement, shall become due and payable 5 days after the notice to declare all such amounts due and payable has been sent by the Lender, unless the Lender explicitly mentions a different period in such notice, and unless FEI Group did not meet the ratios mentioned in Clause 13.4, based on latest monthly management report as FEI submits to the Lender each month, in which case all amounts outstanding as referred to win become due and payable immediately. If an Event of Default as referred to under Clause 14 (e) or 14 (g) has occurred, no Revolving Advances or draw downs form the Current Account will be possible till such Event of Default is cured, unless approved by the Lender beforehand. At any time after such occurrence the Lender may, by notice in writing to the Borrowers, declare that the Facility is cancelled and that all amounts outstanding thereunder, if any, are immediately due and payable, together with interest thereon and any other costs, charges and expenses. Such declaration shall be effective forthwith. The Borrowers jointly and severally under-take to indemnify the Lender against any reasonable direct loss or expenses which any of them may sustain or incur as a consequence of the occurrence of any Event of Default hereunder.
Sample 1
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Related to CHANGE IN RELATIONSHIP BORROWERS

  • Lending Relationship Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company (i) does not have any material lending or other relationship with any bank or lending affiliate of any Underwriter and (ii) does not intend to use any of the proceeds from the sale of the Securities to repay any outstanding debt owed to any affiliate of any Underwriter.

  • Change in Effective Control of the Company A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

  • Change in Management Permit a change in the senior management of Borrower.

  • Change of Control/Change in Management (i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the then outstanding voting stock of the Parent;

  • Banking Relationship Borrower shall at all times maintain its primary banking relationship with Silicon.

  • Change in Name Give Lender written notice immediately upon forming an intention to change its name, state of organization or form of business organization.

  • Certain Relationships and Related Transactions No relationship, direct or indirect, exists between or among any Partnership Entity, on the one hand, and the directors, officers, stockholders, affiliates, customers or suppliers of any Partnership Entity, on the other hand, that is required to be described in the Preliminary Prospectus or the Prospectus and is not so described.

  • Independent Relationship Nothing herein contained shall be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of their agents or employees, or any other legal arrangement that would impose liability upon one Party for the act or failure to act of the other Party. Neither Party shall have any power to enter into any contracts or commitments or to incur any liabilities in the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever.

  • Termination of Relationship If Optionee terminates Continuous Status --------------------------- as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Nature of Relationship The Company acknowledges and agrees that in connection with the offering and the sale of the Notes or any other services the Underwriters may be deemed to be providing hereunder, notwithstanding any preexisting relationship, advisory or otherwise, between the parties or any oral representations or assurances previously or subsequently made by the Underwriters: (i) no fiduciary or agency relationship between the Company and any other person, on the one hand, and the Underwriters, on the other hand, exists; (ii) the Underwriters are not acting as advisors, experts or otherwise, to the Company, including, without limitation, with respect to the determination of the public offering price of the Notes, and such relationship between the Company, on the one hand, and the Underwriters, on the other hand, is entirely and solely a commercial relationship, based on arms-length negotiations; (iii) any duties and obligations that the Underwriters may have to the Company shall be limited to those duties and obligations specifically stated herein; and (iv) the Underwriters and their respective affiliates may have interests that differ from those of the Company. The Company hereby waives any claims that the Company may have against the Underwriters with respect to any breach of fiduciary duty in connection with this offering.

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