No Change in Ownership. Nothing in this Agreement changes the ownership of any Patents.
No Change in Ownership. The Borrower shall not permit the ownership interest of the Guarantors (and/or any Person who becomes an owner of an interest in the Borrower upon the death of one of the Guarantors through bequest or devise) to be reduced to less than one hundred percent (100%) of the outstanding membership interests of the Borrower.
No Change in Ownership. No change shall occur in the ownership of any equity interest in Borrower except for transfers pursuant to and in accordance with the Transaction Documents or in accordance with Section 8.17 hereof.
No Change in Ownership or control No Borrower shall permit any change in its beneficial ownership or control from that advised to the Agent at the date of this Agreement and shall procure that all the capital stock of the Borrowers is owned directly or indirectly by the Guarantor and that the present shareholders of the Guarantor shall maintain at all times beneficial ownership or control, directly or indirectly, of at least sixty per centum (60%) of each Borrower’s capital stock.
No Change in Ownership. Nothing in this Restructuring Agreement will be construed to effect a change of ownership interests in real property, as provided in Section 6.1 of the SJPPA, except as may be provided in Sections 7.3.5, 7.4.4, 12.2 and 12.3 of this Restructuring Agreement.
No Change in Ownership or control Neither the Borrower nor the Guarantor shall without the prior written consent of the Agent permit any change in its beneficial ownership and control or its direct or indirect ownership from that advised to the Lender at the date of this Agreement, other than in the case of an IPO, provided that the existing members of the Guarantor maintain at all times during the Facility Period as least 50% of the shares or membership interest of the Guarantor.
No Change in Ownership. There shall be no change in the shareholding of the Borrower without the prior written consent of the Bank.
No Change in Ownership. The Stockholders will continue to be the only stockholders of Lion Golf through the Closing Date.
No Change in Ownership. Between the date hereof and the Transfer Date, Seller and Shareholders shall use their best efforts to ensure that there shall be no change in ownership of Seller and no change in the interests of Seller held by each Shareholder.
No Change in Ownership. Borrower shall not cause, allow or suffer to occur any change in the ownership, nature, control or structure of Borrower without the prior written consent of Bank. This Section 4(aa) and any other applicable section of the Loan Documents, shall not apply to: (i) any issuance or grant by Borrower of stock or other equity of Borrower (and any option, warrant or other instrument convertible into or exercisable for stock or other equity of Borrower — and the issuance any stock or equity upon conversion or exercise of any such options, warrants or other instruments); (ii) any issuance of unsecured debt of Borrower (whether or not convertible); (iii) any transfers of Borrower’s stock for estate planning or similar purposes (e.g., to a trust); and (iv) any transfers by any stockholders. At all times, Next Estate shall be wholly owned by Borrower, and Borrower hereby represents and warrants that Next Estate currently has no outstanding debt of any nature and covenants and agrees that Next Estate will not incur any debt of any nature other debt owing to Bank without the prior written consent of Bank, which consent may be withheld in Bank’s sole discretion.