CHANGE IN BUSINESS definition
CHANGE IN BUSINESS. Shall not enter into any business which is substantially different from the business or businesses in which it is presently engaged.
CHANGE IN BUSINESS. STRATEGY The initial assets of MRYP Newco consist of several types of properties including property held for future development, commercial properties, apartment communities and clay deposit property. As part of its business plan, MRYP Newco may dispose of its commercial properties, develop apartment communities on undeveloped land and rehabilitate existing apartment buildings. In addition, MRYP Newco intends to manage development and other communities for EQR. See "Merry Land Properties, Inc. -- Business Objectives and Operating Strategies." This business strategy, if implemented, entails numerous risks, including the risk that MRYP Newco will be unable to obtain financing necessary to implement the strategy, that development or rehabilitation costs will exceed estimates and that lease up rates, rental rates and occupancy will not meet expectations. The occurrence of any of the foregoing could have a material adverse effect on MRYP Newco's results of operations and financial condition. In addition, there can be no assurance that MRYP Newco will be able to acquire additional properties on terms and conditions that would be favorable to MRYP Newco or suitable to implement its business strategy or that MRYP Newco will be able to obtain additional management agreements or renewals of existing agreements on favorable terms. LACK OF GEOGRAPHIC DIVERSITY MRYP Newco's revenues and the value of its properties may be affected by a number of factors, including the local economic climate (which may be adversely impacted by business layoffs, industry slowdowns, changing demographics and other factors) and local real estate conditions (such as oversupply of or reduced demand for commercial and residential properties). The MRYP Newco Properties are all located in Georgia and South Carolina (except one unimproved parcel in Nashville, Tennessee and two unimproved parcels in Florida), and as a result, the operating results of MRYP Newco will be significantly dependent on the economic conditions in Georgia, particularly in Augusta and Savannah, and Charleston, South Carolina. Regional seasonal trends may also have a more significant impact on MRYP Newco than they had on Merry Land, since Merry Land's portfolio was much more geographically diverse. EQUITY FINANCINGS MAY NOT BE SUCCESSFUL In order to obtain financing necessary to execute its business plan, MRYP Newco plans to raise additional equity capital through the public or private equity markets. Such financing may be o...
CHANGE IN BUSINESS with respect to the Company shall mean any change in or addition to the primary business of the Company that has not been approved by the Required Holder(s) such that more than 20% of the Consolidated Net Earnings of the Company are derived from a business other than the Current Business.
Examples of CHANGE IN BUSINESS in a sentence
The Company will not cause or effect any change in or addition to the primary business of the Company that has not been approved by Purchaser, such that more than 10% of the consolidated net earnings of the Company are derived from a business other than the business in which the Company was engaged on the date hereof as reflected in the applicable last SEC Document filed prior to the First Closing ("CHANGE IN BUSINESS"), except any such changes approved in advance in writing by the Representative.
More Definitions of CHANGE IN BUSINESS
CHANGE IN BUSINESS with respect to the Company shall mean any change in or addition to the primary business of the Company that has not been approved by the Purchasers such that more than 10% of the Consolidated Net Earnings of the Company are derived from a business other than the retail and direct mail distribution and sale of bibles, books, gifts, music, video, church materials and novelty items of a Christian nature.
CHANGE IN BUSINESS. Make or permit any substantial change in, or cease in whole or in part, the present business of Borrower, or engage in any other activities apart from its present business.
CHANGE IN BUSINESS means the occurrence of any of the following events with respect to the business of the Issuer as such business is conducted on the Series 2026-1 Closing Date: (i) the Issuer alters its business model by entering into a wholesale arrangement whereby it sells its servicing rights with respect to its residential customers to a third party; provided, that the exception set forth in this clause (i) will not apply with respect to prepayments of principal of the Series 2026-1 Term Notes made with funds that are the proceeds of the incurrence of additional Indebtedness by any Non-Securitization Entity (including any ultimate parent of a Non-Securitization Entity) or any Securitization Entity or with amounts drawn pursuant to any Series 2026-1 Class A-1 Notes; (ii) 100% of the equity interests of the Obligors and the Holdco Guarantor are acquired (directly or indirectly) by any Major Broadband Provider; or (iii) the occurrence any initial public offering of the equity interests of any intermediate or ultimate parent of the Obligors and the Holdco Guarantor.
CHANGE IN BUSINESS. TACT and IOT advise that the implementation of the Share Exchange Agreement, the Company Stock Purchase Agreement and the Shareholder Stock Purchase Agreement would constitute a material change in the nature of business as conducted by TACT and/or IOT.