CHANGE IN MEMBERSHIP. If Borrower or Guarantor is a limited liability company, any change in ownership of twenty-five percent (25%) or more of the membership interest of Borrower or Guarantor is an Event of Default.
Appears in 6 contracts
Sources: Change in Terms Agreement (Landmark Bancorp Inc), Change in Terms Agreement (Landmark Bancorp Inc), Change in Terms Agreement (Landmark Bancorp Inc)
CHANGE IN MEMBERSHIP. If Borrower or Guarantor is a limited liability company, any change in ownership of twenty-five percent (25%) or more of the membership interest of Borrower or of Guarantor is an Event of Default.
Appears in 3 contracts
Sources: Change in Terms Agreement (Landmark Bancorp Inc), Change in Terms Agreement (Landmark Bancorp Inc), Change in Terms Agreement (Landmark Bancorp Inc)
CHANGE IN MEMBERSHIP. If Borrower or Guarantor is Guarantors a limited liability company, any change in ownership of twenty-five percent (25%) or more of the membership interest of Borrower or Guarantor is an Event of Default.
Appears in 1 contract
Sources: Business Loan Agreement (Dougherty's Pharmacy, Inc.)