Common use of Change of Management Clause in Contracts

Change of Management. Permit ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and -------------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇ at any time not to be active on a substantially full time basis in the affairs of the Borrower by maintaining the positions of President/Chief Operating Officer, Vice President/Secretary and Chairman of the Board, respectively, or their equivalents, provided that the failure of any one or two of such individuals to comply with this Section 7.15 shall not be deemed a violation of this Section 7.15.

Appears in 3 contracts

Sources: Loan Agreement (Nu Horizons Electronics Corp), Credit Agreement (Nu Horizons Electronics Corp), Loan Agreement (Nu Horizons Electronics Corp)

Change of Management. Permit ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇ and ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and -------------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇ at any time not to be active on a substantially full time basis in the affairs of the Borrower by maintaining the positions of Chairman and Chief Executive Officer and President/Chief Operating Officer, Vice President/Secretary Officer and Chairman of the BoardSecretary, respectively, or their equivalents, provided that the failure of any one or two of such individuals to comply with this Section 7.15 shall not be deemed a violation of this Section 7.15violation.

Appears in 1 contract

Sources: Credit Agreement (Nu Horizons Electronics Corp)

Change of Management. Permit ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and -------------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇ at any time not to be active on a substantially full time basis in the affairs of the Borrower by maintaining the positions of President/Chief Operating Officer, Vice President/Secretary and Chairman of the Board, respectively, or their equivalents, provided that the failure of any one or two of such individuals to comply with this Section 7.15 shall not be deemed a violation of this Section 7.15.

Appears in 1 contract

Sources: Credit Agreement (Nu Horizons Electronics Corp)

Change of Management. Permit A▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇ and R▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and -------------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇ at any time not to be active on a substantially full time basis in the affairs of the Borrower by maintaining the positions of Chairman and Chief Executive Officer and President/Chief Operating Officer, Vice President/Secretary Officer and Chairman of the BoardSecretary, respectively, or their equivalents, provided that the failure of any one or two of such individuals to comply with this Section 7.15 7.14 shall not be deemed a violation of this Section 7.15violation.

Appears in 1 contract

Sources: Credit Agreement (Nu Horizons Electronics Corp)

Change of Management. Permit ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇ -------------------- ▇▇▇▇▇▇▇▇ and -------------------- ▇▇▇▇▇▇ ▇▇▇▇▇▇ at any time not to be active on a substantially full time basis in the affairs of the Borrower by maintaining the positions of President/Chief Operating Officer, Vice President/Secretary and Chairman of the Board, respectively, or their equivalents, provided that the failure of any one or two of such individuals to comply with this Section 7.15 shall not be deemed a violation of this Section 7.15.

Appears in 1 contract

Sources: Loan Agreement (Nu Horizons Electronics Corp)