Change of Management or Ownership. Any transfer of the direct or indirect power to affect the management or policies of Tenant or direct or indirect change in 25% or more of the ownership interest in Tenant shall constitute an assignment of this Lease.
Change of Management or Ownership. Any direct or indirect change in 50% or more of the ownership interest in Tenant shall constitute an assignment of this Lease.
Change of Management or Ownership. If a majority of the persons serving on the board of directors of Borrower as of the date of this Agreement shall cease to serve on such board of directors or if Xxxxx Xxxxxx shall cease to be active in the management of Borrower and Bank considers (in its reasonable discretion) such change to affect materially and adversely the prospects of Borrower.
Change of Management or Ownership. Not to make any substantial change in the executive roles of Xxxxx Xxxx and Xxxxxx Xxxxxx; not to pause or permit Xxxx Xxxx or Xxxxxx Xxxxxx to change their direct or indirect capital ownership of the Borrower to be lean than a majority ownership interest in Borrower.
Change of Management or Ownership. No transfer of the direct or indirect power to affect the management or policies of Tenant or the transfer of its assets, including any merger or consolidation, shall constitute an assignment of this Lease.
Change of Management or Ownership. If the Borrower or a controlling portion of its voting stock or a substantial portion of its assets comes under the practical, beneficial or effective control of one or more persons other than Xxxx Xxxx, whether by reason of death, merger, consolidation, sale or purchase of stock or assets or otherwise; and Xxx Xxxxxx, who is the President and COO of the Borrower, shall no longer remain in such offices, whether by reason of death, resignation or otherwise; and any such change of control or office holder may adversely affect, in the sole judgment of the Bank, the ability of the Borrower to carry on its business as conducted before such change.
Change of Management or Ownership. Any transfer of the direct or indirect power to affect the management or policies of Tenant or direct or indirect change in twenty-five percent (25%) or more of the ownership interest in Tenant shall constitute an assignment of this Lease. The provisions of this Section 17.D. shall not be applicable so long as Tenant's common stock is either listed on the New York Stock Exchange or approved for trading on the Nasdaq National Market System.
Change of Management or Ownership. Any direct or indirect transfer of 50% or more of the ownership interest in Tenant (a “Change of Control”) shall constitute an assignment of this Lease, provided that the foregoing shall not apply so long as Tenant’s stock is publicly held and traded through a national stock exchange or NASDAQ.
Change of Management or Ownership. (i) Two (2) or more members of the Management Group shall cease to be employed by Borrower in a management capacity or (ii) the Management Group shall cease to control more than thirty-three percent (33%) of the issued and outstanding capital stock of Cal Dive, or Cal Dive shall cease to own and control, beneficially and of record eighty percent (80%) of the issued and outstanding capital stock of ERT.
Change of Management or Ownership. If, without the prior written consent of the Majority Banks, (a) General Partner or a controlling portion of its voting stock or a substantial portion of its assets comes under the practical, beneficial or effective control of one or more Persons other than the existing shareholders of General Partner set forth on SCHEDULE 5.16, whether by reason of death, merger, consolidation, sale or purchase of stock or assets or otherwise, (b) General Partner and/or any Guarantor transfers, assigns or pledges any interest, legal or beneficial, in the interest of such partner in Borrower to any Person other than the Agent for the benefit of itself and the Banks, (c) a change in Borrower's senior management occurs which in the Agent's sole judgment could be expected to adversely affect Borrower's ability to carry on its business as conducted before such change, (d) General Partner at any time ceases to be or no longer is the sole general partner of Borrower for any reason whatsoever, (e) General Partner at any time ceases to be or no longer is the sole General Partner of MLP for any reason whatsoever, or (f) there exists any general partner in Borrower or MLP other than General Partner.
