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. 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 will 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 undertake 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) During any period of twelve (12) consecutive months ending on each anniversary of the Agreement Date, individuals who at the beginning of any such 12-month period constituted the Board of Trustees of the Parent Guarantor (together with any new trustees whose election by such Board or whose nomination for election by the shareholders of the Parent Guarantor was approved by a vote of a majority of the trustees then still in office who were either trustees at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Trustees of the Parent Guarantor then in office; (ii) 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 Guarantor; (iii) The Parent Guarantor shall cease to own and control, directly or indirectly, at least a majority of the outstanding Equity Interests of the Borrower; or (iv) The Parent Guarantor or a Wholly-Owned Subsidiary of the Parent Guarantor shall cease to be the sole general partner of the Borrower or shall cease to have the sole and exclusive power to exercise all management and control over the Borrower.

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

  • Change in Name The Purchaser shall intimate the Seller of any change in its name (on account reasons other than a change in its Control), immediately upon occurrence of name change. The Parties shall thereafter take necessary steps to record such change in the name of the Purchaser in the books and records of the Seller and shall also execute an amendment agreement to the Agreement to record such name change.

  • 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 This Agreement is not intended to constitute, create, give effect to or otherwise recognize a joint venture, partnership, or formal business organization, or agency agreement of any kind, and the rights and obligations of the Parties shall be only those expressly set forth herein.

  • Change in Agreement Any change deemed necessary in this Agreement may be made by mutual agreement at any time during the life of this Agreement.

  • 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.

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