Changes in Management definition
Changes in Management means (i) the removal of a majority of the members of the Board of Directors of Kramont or (ii) the termination of the employment of Loui▇ ▇. ▇▇▇▇▇▇, ▇▇., ▇▇ president and chief executive officer of Kramont, unless the Board of Directors of Kramont, within ninety (90) days of such termination, appoints an individual with qualifications sufficient to serve as the president and chief executive officer of Kramont, such appointment to be subject to the approval of Lender in its sole but reasonable judgment. "CHANGES IN Control" shall mean, (i) with respect to Kramont (A) the issuance in a public offering of shares of voting common stock, or (B) the issuance of units in its Operating Partnership which if fully redeemed into shares of voting common stock of Kramont would in either instance constitute a transfer of more than 50% of the issued and outstanding shares of voting common stock of Kramont and (ii) with respect to a Project, any transfer of ownership in the Project which would result in the Borrower owning less than the 51% of the ownership interest in the Project.
Changes in Management means removal of a majority of the members of the Board of Directors of CV Reit, Inc. or the termination of the employment of the president of CV Reit, Inc. "Changes in Control" shall mean, with respect to CV Reit, Inc.
Changes in Management. Notify Lender in writing of any proposed changes in Borrower's senior management including chief executive officer, chief financial officer and general manager, which shall be subject to the approval of the Lender and said approval shall not unreasonably be withheld.
Examples of Changes in Management in a sentence
Changes in Management or Program Personnel Any change in top management or program personnel must be put in memorandum form and submitted to the Contract Manager within 7 days.
Dependence on Key Personnel; Changes in Management The Company's business is partially dependent upon the performance of certain of its executive officers.