Corporation, Partnership or Limited Liability Company. 16.7.1 Except as otherwise approved in writing by us, if you are a corporation, you shall: (a) confine your activities, and your governing documents shall at all times provide that your activities are confined, exclusively to operating the Franchised Business; (b) maintain stop transfer instructions on your records against the transfer of any equity securities and shall only issue securities upon the face of which a legend, in a form satisfactory to us, appears which references the transfer restrictions imposed by this Agreement; (c) not issue any non-voting securities convertible into voting securities; (d) maintain a Schedule of Principals with a current list of all owners of record and all beneficial owners of any class of voting stock of you and furnish the list to us upon request. In addition, each present and future shareholder of yours shall jointly and severally guarantee your performance of each and every provision of this Agreement by executing a Guarantee in the form attached to this Agreement as Attachment B.
16.7.2 If you are a partnership you shall: (a) furnish us with your partnership agreement as well as such other documents as we may reasonably request, and any amendments thereto; and (b) prepare and furnish to us a Schedule of Principals with a current list of all general and limited partners in you. In addition, each present and future general partner of yours shall jointly and severally guarantee your performance of each and every provision of this Agreement by executing a Guarantee in the form attached to this Agreement as Attachment B.
16.7.3 If you are a limited liability company, you shall: (a) furnish us with a copy of your articles of organization and operating agreement, as well as such other documents as we may reasonably request, and any amendments thereto; (b) prepare and furnish to us a Schedule of Principals with a current list of all members and managers in you; and (c) maintain stop transfer instructions on your records against the transfer of equity securities and shall only issue securities upon the face of which bear a legend, in a form satisfactory to us. In addition, each present and future member of yours shall jointly and severally guarantee your performance of each and every provision of this Agreement by executing a Guarantee in the form attached to this Agreement as Attachment B.
Corporation, Partnership or Limited Liability Company. If Tenant or any guarantor of this Lease, if any, is a corporation, partnership or limited liability company, and if at anytime during the lease Term the person or persons who, on the date of this Lease, own or owns a majority of the voting stock of such corporation or a majority of the partnership or membership interest of such partnership or limited liability company, as the case may be, cease or ceases to own (whether on account of a single event or on account of the effect of several events), a majority of such voting stock or of such interest, as the case may be (except as the result of transfer by gift or inheritance) or if the guarantor, if any, of this Lease is dissolved, dies, becomes incompetent or insolvent, Tenant shall so notify Landlord and landlord shall have the right, at its option, to terminate this Lease by written notice to Tenant given thirty (30) days after Landlord shall have received such notice. Notwithstanding anything contained herein to the contrary, the provisions of this Article 11.2, shall not be applicable if Tenant is a corporation, all outstanding voting stock of which is listed on a national securities exchange (as defined in the Securities Exchange Act of 1934, as amended). For the purposes of this Article 11.2 stock ownership shall be determined in accordance with the principle set forth in Section 544 of the Internal Revenue Code of 1986, as the same existed on January 1 of the year in which this Lease was executed, and the term "voting stock" shall refer to shares of stock regularly entitled to vote for the election of directors of the corporation.
