Notice of Changes in Ownership. Vendor agrees that any transfer of a substantial interest in Vendor by any of its owners shall require prompt written notice to Citizens. A substantial interest shall mean at least twenty-five percent (25%) of the voting shares or control over Vendor. This Section shall not apply to: (a) transfers occurring upon the incapacitation or death of an owner; (b) transfers associated with an initial public offering on a major stock exchange; or, (c) transfers to a company whose stock is publicly traded on a major stock exchange.
Appears in 5 contracts
Samples: Business Process Outsourcing Agreement, Business Process Outsourcing Agreement, Business Process Outsourcing Agreement
