Change of Ownership or Control. The beneficial ownership (within the meaning of Rule 13d-3 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended) of 20% or more in voting power of the outstanding voting stock of the Borrower or either Guarantor is acquired by any Person; provided that the acquisition of beneficial ownership of capital stock of the Borrower or either Guarantor by Xxxxxxx X. Xxxxxxxx or any member of his immediate family shall not constitute an Event of Default.
Change of Ownership or Control. (a) No Person or group (as defined in Section 13(d)(3) of the Securities Exchange Act of 1934), other than existing management of Borrower as of the Closing Date, shall become the beneficial owner of more than 50% of the total voting power of the capital stock of the Borrower then outstanding.
(b) A majority of the members of the Board of Directors of the Borrower shall not cease to be Continuing Directors. For purposes of this Section, the term “Continuing Directors” of a Person means any member of such Person’s Board of Directors who: (x) was a member of such Person’s Board of Directors on the Closing Date; or (y) was nominated for election or elected with the approval of a majority of the Continuing Directors who were then members of such Person’s Board of Directors (but excluding any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Continuing Directors).
Change of Ownership or Control. This policy will terminate automatically at the time of any change of class, ownership, management or control of a mortgaged vessel of which the Assured has knowledge or privity, unless the Assured gives prompt notice of such change in writing to the Underwriters hereon and agrees to pay an additional premium, if required.
Change of Ownership or Control. Dealer agrees to notify XXXXXX of any change in the status, ownership or control of Dealer.
Change of Ownership or Control. A change of ownership or control which results in any of the following not being true:
(i) OSG owns at least 50.1% of membership interests (directly or indirectly) in the Parent;
(ii) OSG owns more than 50.1% of membership interests in OSG America LLC, which is the general partner of the Parent;
(iii) OSG America LLC is the general partner of and has a 2% general partnership interest in the Parent;
(iv) The Parent wholly-owns the Borrower;
(v) Borrower wholly-owns (directly or indirectly) the Vessel-Owning Guarantors; or
Change of Ownership or Control. If at any time while the Note shall be outstanding or the Bank has a commitment hereunder, Pacific Realty Group shall own, directly or indirectly, less than all of the limited partnership interests of the Company, the Original Borrower shall own less than all of the general partnership interests of the Company, or Pacific Realty Group shall own less than all of the issued and outstanding capital stock of the Original Borrower, then, in any such event, a "Change of Ownership or Control" shall be deemed to have occurred.
Change of Ownership or Control. (a) Mechel Mining ceases to indirectly own and control, legally and beneficially, at least 75 per cent. of the share capital of each of the Borrower, SKC and KGOK; or
(b) the ownership or control (whether legal or beneficial, and whether direct or indirect) of any Mining Obligor (other than Mechel Mining) otherwise changes, provided that this paragraph (b) shall not apply to changes in the share capital of any Mining Obligor where the indirect ownership and control of such Mining Obligor by Mechel Mining does not change, in each case without the prior consent of the Facility Agent (acting on the instructions of the Majority Lenders).
Change of Ownership or Control. This insurance will terminate automatically at the time the Assured becomes or is aware of or privy to any change of:
5.1 Classification Society or of change, suspension, discontinuance, withdrawal or expiry of the Mortgaged Vessel's class within that Society,
5.2 Ownership, flag, management or control of the Mortgaged Vessel, Unless the Assured gives prompt notice of such change i n writing , and agrees to pay an additional premium, if required, and Owners' Policies and Club Entries are maintained.
Change of Ownership or Control. Permit any change in the ownership or control of Borrower, or permit the sale, transfer or conveyance of any shares or other interest in Borrower.
Change of Ownership or Control. If:
(i) any of the shares of the Borrower are owned by any other Person than a Parent; or
(ii) a Change of Control shall occur.
7.5 New Clause 13.16 (Financial covenants — the Guarantor)
