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. 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 No Borrower shall permit any change in its beneficial ownership or control from that advised to the Lender 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. Borrower shall not permit any person or entity to become a member of Borrower or permit any member to assign, transfer, pledge, hypothecate or sell any interest in Borrower.
No Change in Ownership. At all times during the term of this Agreement, there shall be no material change in ownership of Borrower, including without limitation, through conveyance, transfer, assignment or sale of any parties of the equity ownership of Borrower, without Bank’s prior written approval. Notwithstanding the foregoing, M-Tron Industries, Inc., may distribute all the issued and outstanding shares of Piezo Technology, Inc. to its sole shareholder, The LGL Group, Inc., so that Piezo would become the wholly-owned, direct subsidiary of The LGL Group, Inc. (the “Piezo Distribution”)
No Change in Ownership or control of a Borrower or Corporate Guarantor Save for the transfer contemplated by Clause 13.1.24, neither Borrower shall, and shall procure that the Corporate Guarantor shall not, permit any change in its beneficial ownership and control from that advised to the Agent at the date of this Agreement.
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.
No Change in Ownership. There shall be no change in the shareholding of the Borrower without the prior written consent of the Bank.
