Change of Management or Ownership Clause Samples

Change of Management or Ownership. No transfer of the direct or indirect power to affect the management or policies of Tenant or the transfer of its assets, including any merger or consolidation, shall constitute an assignment of this Lease.

Change of Management or Ownership. If the Borrower or a controlling portion of its voting stock or a substantial portion of its assets comes under the practical, beneficial or effective control of one or more persons other than ▇▇▇▇ ▇▇▇▇, whether by reason of death, merger, consolidation, sale or purchase of stock or assets or otherwise; and ▇▇▇ ▇▇▇▇▇▇, who is the President and COO of the Borrower, shall no longer remain in such offices, whether by reason of death, resignation or otherwise; and any such change of control or office holder may adversely affect, in the sole judgment of the Bank, the ability of the Borrower to carry on its business as conducted before such change.

Change of Management or Ownership. Any direct or indirect change in 50% or more of the ownership interest in Tenant shall constitute an assignment of this Lease.

Change of Management or Ownership. If a majority of the persons serving on the board of directors of Borrower as of the date of this Agreement shall cease to serve on such board of directors or if ▇▇▇▇▇ ▇▇▇▇▇▇ shall cease to be active in the management of Borrower and Bank considers (in its reasonable discretion) such change to affect materially and adversely the prospects of Borrower.

Change of Management or Ownership. Not to make any substantial change in the executive roles of ▇▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇▇ ▇▇▇▇▇▇; not to pause or permit ▇▇▇▇ ▇▇▇▇ or ▇▇▇▇▇▇ ▇▇▇▇▇▇ to change their direct or indirect capital ownership of the Borrower to be lean than a majority ownership interest in Borrower.

Change of Management or Ownership. Any transfer of the direct or indirect power to affect the management or policies of Tenant or direct or indirect change in twenty-five percent (25%) or more of the ownership interest in Tenant shall constitute an assignment of this Lease. The provisions of this Section 17.D. shall not be applicable so long as Tenant's common stock is either listed on the New York Stock Exchange or approved for trading on the Nasdaq National Market System.

Change of Management or Ownership. Any direct or indirect transfer --------------------------------- of 50% or more of the ownership interest in Tenant (a "Change of Control") shall ----------------- constitute an assignment of this Lease, provided that the foregoing shall not apply so long as Tenant's stock is publicly held and traded through a national stock exchange or NASDAQ.

Change of Management or Ownership. The Company implements any change in the senior management or ownership of the Company without obtaining Agent’s prior written consent.

Change of Management or Ownership. (1) Any transfer of the direct or indirect power to affect the management or policies of Tenant or direct or indirect change in 25% or more of the ownership interest in Tenant (any of the foregoing in this Subsection D being herein sometimes referred to as an "Ownership Transfer") shall constitute an assignment of this Lease. Notwithstanding the foregoing in this Subsection D to the contrary if Tenant shall be a corporation whose stock is publicly traded on a nationally recognized securities exchange (including the NASDAQ over-the-counter market), then, except with respect to an Ownership Transfer in connection with the merger or consolidation of Tenant and except with respect to an Ownership Transfer in connection with the sale of all or substantially all of the assets of Tenant, any Ownership Transfer shall not be deemed to be an assignment of this Lease. In any event, any Ownership Transfer in connection with the merger or consolidation of Tenant or in connection with the sale of all or substantially all of the assets of Tenant shall constitute an assignment of this Lease. (2) Notwithstanding the foregoing, if no default on the part of Tenant has occurred and is continuing, Tenant may assign this Lease to an entity into which Tenant is merged or consolidated or to an entity to which substantially all of Tenant's assets are transferred, without first obtaining Landlord's written consent, if Tenant notifies Landlord prior to the proposed transaction, providing information satisfactory to Landlord in order to determine the net worth both of the successor entity and of Tenant immediately prior to such assignment, and showing the net worth of the successor to be at least equal to the net worth of Tenant.