Common use of Maintenance and change of business Clause in Contracts

Maintenance and change of business. (i) The Borrower shall remain a private limited company under Norwegian law, with no other activity than the ownership of the vessels. (ii) The Borrower shall not enter into any form of amalgamation, merger or demerger, divest or consolidate with any other entity or any form of reconstruction or reorganisation without the prior written consent of the Majority Lenders. (iii) The Borrower will not change end of its fiscal year. (iv) The Borrower will not change its legal name.