Change in Control of Borrower Sample Clauses

The Change in Control of Borrower clause defines what happens if there is a significant shift in the ownership or management of the borrowing entity. Typically, this clause outlines specific triggers—such as the sale of a majority of shares, a merger, or a transfer of controlling interest—that would constitute a change in control. When such an event occurs, it may give the lender certain rights, such as demanding immediate repayment of the loan or renegotiating terms. The core function of this clause is to protect the lender from unforeseen risks associated with new owners or management, ensuring that the original creditworthiness and business intentions of the borrower remain intact throughout the loan term.
Change in Control of Borrower. (a) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) shall become the "beneficial owner(s)" (as defined in said Rule 13d-3) of more than forty percent (40%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors; or (b) any event or condition shall occur or exist which, pursuant to the terms of any change in control provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect;
Change in Control of Borrower. (i) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) other than employees of the Borrower (either directly or through a retirement or employee benefit plan), shall become the "beneficial owner(s)" (as defined in said Rule 13d-3) of more than twenty-five percent (25%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors, or (ii) any event or condition shall occur or exist which, pursuant to the terms of any Change in Control Provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.
Change in Control of Borrower. Any Change in Control shall occur or exist;
Change in Control of Borrower. (a) Any “person” or “group” (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act), other than the Persons set forth in Schedule 9.10 shall become the “beneficial owner(s)” (as defined in said Rule 13d-3 of the Exchange Act) of more than forty percent (40%) of the shares of the outstanding Capital Stock of Borrower entitled to vote for members of Borrower’s board of directors; (b) during any period of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (who qualify under any one of the following) (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body; or (c) Any event or condition shall occur or exist which, pursuant to the terms of any change in control provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.
Change in Control of Borrower. (a) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act), except any current stockholder of Borrower who owns, as of the date of this Agreement, at least twenty percent (20%) of the issued and outstanding capital stock of the Borrower, shall become the "beneficial owner(s)" (as defined in said Rule 13d-3) of more than thirty percent (30%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors; or (b) any event or condition shall occur or exist which, pursuant to the terms of any change in control provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect;
Change in Control of Borrower. With the exception of ----------------------------- ▇▇▇▇▇▇▇▇ prior to the Effective Date, any person or group (within the meaning of Rule 13d-5 of the Securities and Exchange Commission as in effect on the date hereof) shall become the owner, beneficially or of record, of shares representing more than thirty percent (30%) of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower; or
Change in Control of Borrower. Borrower permits a material change in its control in violation of this Agreement.
Change in Control of Borrower. 76 Section 9.12 DEFAULT UNDER OTHER CREDIT DOCUMENTS.....................................77 Section 9.13 ATTACHMENTS..............................................................77
Change in Control of Borrower. If any of the following shall occur: (a) any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended), other than the Fuqu▇ ▇▇▇ily, shall acquire the stock of the Borrower resulting in beneficial ownership (within the meaning of Rule 13d-3 promulgated under the such Act) of more than 30% of the combined voting power of the then outstanding Voting Stock of the Borrower entitled to vote for the election of a majority of the members of the board of directors of the Borrower; or (b) the Persons comprising the Fuqu▇ ▇▇▇ily shall cease to own, in the aggregate, at least 720,000 shares of the outstanding Voting Stock of the Borrower (without regard to any dilution thereof); or (c) a change in the board of directors of the Borrower shall occur such that, as of any date, a majority of the Board of Directors of the Borrower consists of individuals who were not either (i) directors of the Borrower as of the corresponding date of the previous year, (ii) selected or nominated to be selected to become directors by the Board of Directors of the Borrower of which a majority consisted of individuals described in clause (i), or (iii) selected or nominated to be selected to become directors by the Board of Directors of the Borrower of which a majority consisted of individuals described in clause (i) and individuals described in clause (ii);
Change in Control of Borrower. In the event of a Change in Control of Borrower at any point prior to the Termination Date: i. Lender’s obligation to make Advances to Borrower shall be discharged, effective immediately upon the effective date of the Change of Control; and ii. Unless otherwise agreed to by the Parties in writing, all outstanding Obligations of Borrower must be paid back in full within twelve (12) months of the effective date of the Change of Control.