TENANT OWNERSHIP. If Tenant is a corporation (except a corporation whose stock is traded on a nationally recognized exchange), a limited liability company, a partnership, limited, limited liability or general, or a business trust and if at any time during the Lease Term, any part or all of the shares of the corporation, membership interests in the limited liability company, general partnership interest of the partnership, or beneficial interests of the trust shall be transferred by sale, issuance, assignment, bequest, operation or law or otherwise so as to result in a direct or indirect change in the present control of Tenant, such transfer shall constitute an assignment within the meaning of Section 12.2 hereof. The acceptance by Landlord of payment after notice of such a transfer shall not constitute a waiver of Landlord's right at any time to treat such transfer as an Event of Default.
TENANT OWNERSHIP. (i) None of Tenant's members, managers, partners, shareholders or officers, or members, managers, partners, or shareholders or officers thereof, are Prohibited Persons, provided, however, with respect to any public company, such representation and warranty shall be deemed to be made to the best of Tenant's knowledge.
TENANT OWNERSHIP. For the purposes of this Article XIII, an assignment shall be deemed to include any of the following transactions: (i) the issuance or sale by Tenant or the sale by any stockholder of Tenant of a controlling interest in Tenant to persons or entities other than Amerihost Properties, Inc. and any Related Party; (ii) the sale, conveyance or other transfer of all or substantially all of the assets of Tenant (whether by operation of law or otherwise); (iii) any transaction pursuant to which Tenant is merged with or consolidated into another entity where Tenant or a Related Party of Amerihost Properties, Inc. is not the surviving entity; and (iv) any other transaction or series of transactions, which results in Amerihost Properties Inc. or a Related Party of Amerihost Properties, Inc., no longer having control of Tenant.
TENANT OWNERSHIP. Tenant represents and warrants that Tenant has not made, created, or suffered any Transfers as of the date of this Lease and that the entities and individuals who or which have the controlling ownership interests in the limited liability company comprising the limited liability company comprising the Tenant on the date of this Lease are listed, together with a percentage of ownership on Exhibit D attached hereto and made a part hereof. Tenant shall not, directly or indirectly, sell, transfer, assign, encumber or otherwise convey a controlling interest in the limited liability company comprising the Tenant, without the prior written consent of Landlord and any other requirements of this Section 5.12. The term “controlling ownership interests” shall mean the possession, directly or indirectly, of at least fifty-one percent (51%) ownership of the membership interests, voting securities, by contract or otherwise, in the limited liability company comprising the Tenant, together with the right and authority to direct the management activities of the Tenant. Any such assignment, encumbrance, subletting or occupancy without such consent shall be void.
