Common use of Change of Management or Ownership Clause in Contracts

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.