Covenant Regarding Control Clause Samples
A Covenant Regarding Control is a contractual provision that restricts or governs changes in the control or ownership of a party to the agreement. Typically, this clause requires a party to maintain its current ownership structure or to obtain consent before any transfer of controlling interest, such as a sale of a majority of shares or a merger. By doing so, it ensures that the other party can rely on the stability and identity of its contractual counterparty, thereby preventing unexpected changes that could affect the performance or risk profile of the agreement.
Covenant Regarding Control. No Grantor shall cause nor permit any Person other than the Collateral Agent to have “control” (as defined in Section 8-106 of the UCC) of the Collateral Account pursuant to the terms of the Credit Agreement and the Account Control Agreement.
Covenant Regarding Control. No Grantor shall cause or permit any Person other than the Security Trustee to have “control” (as defined in Section 9‑104, 9‑105, 9 106, or 9‑107 of the UCC) of any Collateral consisting of a “deposit account,” “electronic chattel paper,” “investment property,” “supporting obligations” or “letter of credit right” (as such terms are defined in Article 9 of the UCC); provided that the Servicer on behalf of, and under the directions and control of, the Security Trustee shall be permitted to hold any letter of credit provided by a Lessee or otherwise pursuant to a Lease
Covenant Regarding Control. No Grantor shall cause nor permit any Person other than the Senior Security Trustee to have “control” (as defined in Section 9-104 of the UCC) of any Blocked Account pursuant to the terms of the Credit Agreement. No Grantor (other than ILFC) shall cause or permit any Person other than the Senior Security Trustee to have “control” (as defined in Section 8-106, 9-104, 9-105, 9-106, or 9-107 of the UCC) of any “deposit account,” “electronic chattel paper,” “investment property,” “securities account”, “supporting obligations” or “letter of credit right” (as such terms are defined in Article 8 or 9 of the UCC) in which it has an interest.
Covenant Regarding Control. The Grantor shall not cause or permit any Person other than the Security Trustee to have “control” (as defined in Section 9-104, 9-105, 9-106, or 9-107 of the UCC) of any Collateral consisting of a “deposit account,” “electronic chattel paper,” “investment property,” or “supporting obligations” (as such terms are defined in Article 9 of the UCC).
Covenant Regarding Control. Genus Controls and shall Control throughout the Term (a) all Patents owned or licensed by Genus as of the Effective Date and (b) any Patents that become owned or licensed by Genus after the Effective Date during the Term; in each case of (a) and (b), that are necessary for the development, manufacture, use, offer for sale, sale or import of