Common use of CHANGE IN CORPORATE CONTROL Clause in Contracts

CHANGE IN CORPORATE CONTROL. If the sale, assignment, transfer or other disposition of any of the issued and outstanding capital stock, of the Tenant (or any successor or assignee of the Tenant which is a corporation), shall result in changing the control of the Tenant, such sale, assignment, transfer or other disposition shall be deemed a Transfer of this Lease and shall be subject to all of the provisions of this Lease with respect to assignments by the Tenant. Provided, however, that the Landlord's consent shall not be required to any assignment or transfer of the issued and outstanding capital stock of the Tenant: (1) to a corporation controlled by or subject to the same control as the assignor or transferor; (2) to a member or members of the family of the assignor or transferor; or (3) in the case of devolution through death. For the purposes of this section, "control" of any corporation shall be deemed to be vested in the person or persons owning more than fifty (50%) percent of the voting power for the election of the Board of Directors of such corporation and a "member or members" of the family of any assignor or transferor shall include his spouse, parents, brothers, sisters and issue.

CHANGE IN CORPORATE CONTROL. If the sale, assignment, transfer or other disposition of any of the issued and outstanding capital stock, stock of the Tenant (or of any successor or assignee of the Tenant which is a corporation), ) shall result in changing the control of the Tenant, Tenant such sale, assignment, transfer or other disposition shall be deemed a Transfer an assignment of this Lease and shall be subject to all of the provisions of this Lease with respect to assignments by the Tenant. Provided, provided, however, that the Landlord's consent shall not be required to any an assignment or transfer of the issued and outstanding capital stock of the Tenant: (1a) to a corporation controlled by or subject to the same control as the assignor or transferor; (2b) to a member or members of the family of the assignor or transferor; or (3c) in the case of devolution through death. For the purposes purpose of this sectionArticle, "control" of any corporation shall be deemed to be vested in the person or persons owning more than fifty (50%) percent % per cent of the voting power for the election of the Board board of Directors directors of such corporation and a "member or members" of the family of any assignor or transferor shall include his spouse, parents, brothers, brothers or sisters and issue.