Common use of Change of name or business Clause in Contracts

Change of name or business. Except with the prior consent of the Majority Lenders and the German State of Lower Saxony, the Borrower shall not (and will procure that no other Obligor shall): 10.10.1 change its name or make or threaten to make any substantial change in its business as presently conducted or cease to perform its current business activities; or 10.10.2 carry on any other business which is substantial in relation to its business as presently conducted if to do the same would imperil the security created by any of the Security Documents or affect the ability of any Obligor duly to perform its obligations under any Security Document to which it is or may be a party from time to time, in each case in the opinion of the Agent and the German State of Lower Saxony, PROVIDED THAT any new leisure or hospitality venture embarked upon by any member of the NCLC Group (other than the Borrower) shall not constitute a substantial change in its business and PROVIDED FURTHER THAT any change of or discontinuation in the business activities of any Obligor in accordance with the Apollo-Related Transactions shall be permitted.