Ownership Management there is any change in the ownership of the Borrower or the Vessel or change of Manager of the Vessel without the prior written consent of the Bank; or
Ownership Management. The Borrowers undertake to ensure that, throughout the Security Period and without the prior written consent of the Agent, there shall be no change in the beneficial ownership of any of the shares in either of the Borrowers or in the control or management of either of the Borrowers except for changes approved in writing by the Agent or which result in the shares being beneficially owned by a member of the Group.
Ownership Management there is any change in the direct or indirect ownership of either Borrower or either Vessel or change of Manager of either Vessel without the prior written consent of the Bank or the number of shares of and in the Corporate Guarantor controlled by NMH, Xxx. Xxxxxxxx Xxxxxxx and their respective affiliates in aggregate falls below 20% of the issued shares of the Corporate Guarantor; or
Ownership Management. There shall be no change in the President or Board of Directors of Borrower without Lender’s written consent. Unless otherwise specified, all accounting and financial terms and covenants set forth above are to be determined according to generally accepted accounting principles, consistently applied.
Ownership Management. (i) Xxxxx X. Xxxxxxx shall fail at any time to retain ownership and direct control of at least thirty percent (30%) of the common stock of the Borrower; or
(ii) Xxxxx X. Xxxxxxx shall fail at any time to retain his position as chairman of the board, chief executive officer and president of the Borrower, or to remain active and involved in the management of, and formation of policy for, the Borrower; PROVIDED, HOWEVER, that the death or disability of Xxxxx X. Xxxxxxx shall not constitute an Event of Default hereunder if the Board of Directors of the Borrower shall, within a reasonable time thereafter, appoint a successor chairman of the board, chief executive officer, and president of the Borrower, subject to the approval of the Majority Banks, which approval shall not be unreasonably withheld.
Ownership Management. Control ensure that the Vessel is registered on the first Drawdown Date under the laws of the Flag State and thereafter maintain her present ownership, management, control and beneficial ownership;
Ownership Management. Make any material change in the executive management of Obligors or materially change Obligors' corporate structure, or beneficial or legal ownership of the Obligors, including, but not limited to, any change in the shareholders, or their respective interests, except any transfers by any shareholder of any Obligor as of the date hereof to (a) any Person that has an equity or other ownership interest in any shareholder of any Obligor as of the date hereof; (b) any dependent of any shareholder of any Obligor as of the date hereof or a trust formed for the benefit of any such dependent of any shareholder of any Obligor as of the date hereof of, in any of the Obligors;
Ownership Management. The respective Borrowers and Guarantor have membership interests which have been duly and validly issued to their respective members. As of the Closing Date, (i) WB Propco is the sole member and managing member of WB Carolwood, (ii) Guarantor is the sole member and managing member of WB Propco, (iii) Liquidation Trust is the sole member of Guarantor, and (iv) Guarantor is managed by a board of managers as set forth in its Governing Documents.
Ownership Management. Materially change the current management, ownership or capital structure of Borrower.
Ownership Management there is any change in the direct or indirect ownership of any Borrower or any Vessel (from that disclosed pursuant to paragraph (h) of Schedule 2, Part A) or a change of Commercial Manager (other than as contemplated by the definition of Commercial Manager) or Technical Manager (other than as contemplated by the definition of Technical Manager) of any Vessel without the prior written consent of the Bank;
