Change in Senior Management. Any change in the identity of Senior Management.
Change in Senior Management. (a) The Borrower Parties shall give the Lender notice of any change in the identity of Senior Management.
(b) Within 30 Business Days after receipt of the Borrower Parties’ notice, the Lender shall have the right to terminate this Agreement and the Credit Facility by giving a notice of such termination to the Borrower Parties. In such event, this Agreement and the Credit Facility shall terminate with the same effect as if the Lender had approved a Credit Facility Termination Request (including the Borrower Parties’ obligation, pursuant to Section 10.03(a), to pay in full all of the Notes Outstanding on the Closing Date, including any other charges under the Notes), except that, for these purposes, the Closing Date shall be the 180th day after the date on which the Borrower Parties first receive the Lender’s termination notice.
(c) If the Lender exercises its termination right pursuant to subsection (b), the Borrower Parties shall have a period of 120 days, commencing with the date on which the Borrower Parties receives the Lender’s termination notice, to request that the Lender rescind its termination notice. The Borrower Parties may include in their request any undertakings which they are willing to make in order to obtain such a rescission. The Lender shall give the Borrower Parties notice of its acceptance or rejection of the Borrower Parties’ request within 30 Business Days after the Borrower Parties make the request. If the Lender accepts the request, the Lender shall give the Borrower Parties a notice that the termination notice shall be deemed rescinded and of no further force or effect, and this Agreement and the Credit Facility shall continue in accordance with, and subject to the terms, conditions and limitations contained in, this Agreement.
Change in Senior Management. Borrower shall give Lender notice of any change in the identity of any member of Senior Management.
Change in Senior Management. The Borrower shall give the Lender --------------------------- notice of any change in the identity of the Chief Executive Officer or the Chief Financial Officer of UDRT.
Change in Senior Management. Borrower shall give Lender notice of any change in the identity of Senior Management within ten (10) Business Days of the occurrence thereof.
Change in Senior Management. Any change in the identity of any member of Senior Management or any Key Principal.
Change in Senior Management. Promptly upon knowledge by any Credit Party of any change or intended change in the person holding any Senior Manager position.
Change in Senior Management. Borrower shall give Lender notice of any change in the identity of the Chief Executive Officer, Chief Financial Officer or Executive Vice President within ten (10) Business Days of the occurrence thereof.
Change in Senior Management. The Borrower represents and warrants to Lender that the current chief executive officer, chief financial officer and chief operating officer for the Borrower are Xxxxxxxx Xxxxxxxx, Xxxxx X. Xxxxxxx and Xxxxx X. Xxxxx, respectively, and the Borrower agrees that it will not make any change in such senior management positions or terminate any such senior manager without the prior written consent of the Lender.
Change in Senior Management. (a) The Borrower shall give Xxxxxx Mae notice of any change in the identity of Senior Management.
(b) Within 30 Business Days after receipt of such Borrower’s notice, Xxxxxx Xxx shall have, pursuant to Section 8.1(p) of this Agreement, the right to declare a Default by giving notice of such declaration to the Borrower. In such event, subject to Section 2.2(19)(c), an Event of Default shall occur under this Agreement 180 days after the date on which the Borrower first receive Xxxxxx Mae’s notice.
(c) If Xxxxxx Xxx exercises its right to declare a Default pursuant to subsection (b), the Borrower shall have a period of 120 days, commencing with the date on which the Borrower receives Xxxxxx Mae’s notice, to request that Xxxxxx Xxx rescind its notice. The Borrower may include in their request any undertakings which they are willing to make in order to obtain such a rescission. Xxxxxx Mae shall give the Borrower notice of its acceptance or rejection of the Borrower’s request within 30 Business Days after the Borrower makes the request. If Xxxxxx Xxx accepts the request, Xxxxxx Mae shall give the Borrower a notice that rescinds the notice of a Default pursuant to Section 8.1(p) of this Agreement.
(d) Notwithstanding the foregoing, Xxxxxx Xxx acknowledges that Xxxxxx Xxxxx, the current CEO of the REIT is planning to resign as CEO effective in September of 2001 and as Chairman of the Board of REIT in September of 2002, and that the provisions of this Section 2.2(19) shall not apply to the foregoing changes in Senior Management of the REIT except that the Borrower shall give Xxxxxx Xxx prompt notice of the identity of the new CEO and new Chairman of the Board.
