Changes in Business, Management. Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business other than (i) the businesses currently engaged in by Parent and such Subsidiary, as applicable, or (ii) any additional lines of business engaged in by Parent or such Subsidiary reasonably related thereto; or (b) liquidate or dissolve (other than in the case of any Subsidiary of Parent (other than iPass SPV), and solely to the extent that, if such Subsidiary is a Loan Party, the assets of such Subsidiary are transferred to another Loan Party). No Loan Party shall, without at least thirty (30) days prior written notice to Lender (or such shorter period as it may agree) (a) add any new offices or business locations (unless such new offices or business locations contain less than [***] of any Loan Party’s property); (b) change its jurisdiction of organization; (c) change its organizational structure or type; (d) change its legal name; (e) change any organizational number (if any) assigned by its jurisdiction of organization or (f) permit any Excluded Subsidiary to engage in any business or maintain any assets or generate any revenue, or otherwise conduct any business with any Subsidiary.
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Sources: Credit Agreement (Ipass Inc), Credit Agreement (Ipass Inc)
Changes in Business, Management. Ownership, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage in any business other than (i) the businesses currently engaged in by Parent Holdings, Borrower and such Subsidiary, as applicable, or (ii) any additional lines of business engaged in by Parent Holdings, Borrower or such Subsidiary reasonably related thereto; or (b) liquidate or dissolve (other than in the case of any Subsidiary of Parent Holdings (other than iPass SPVIP Hold-Co), and solely to the extent that, if such Subsidiary is a Loan Party, the assets of such Subsidiary are transferred to another Loan Party); provided however that the Loan Parties are expressly permitted to consummate the De-SPAC Transactions including the Merger (as defined in the Merger Consent) on the terms set forth in the Merger Consent. No Loan Party shall, and shall not permit any of their Subsidiaries which are Loan Parties to, without at least thirty ten (3010) days prior written notice to Lender the Agents and the Secured Parties (or such shorter period as it may agree) (a) add any new offices or business locations (unless such new offices or business locations contain less than [***] of any Loan Party’s property); (bi) change its jurisdiction of organization; (cii) change its organizational structure or type; (diii) change its legal name; (eiv) change any organizational number (if any) assigned by its jurisdiction of organization organization, in each case, without the prior written consent of the Requisite Lenders; or (fv) permit form, create or incorporate any Excluded Subsidiary to engage in any business or maintain any assets or generate any revenue, or otherwise conduct any business with any new Foreign Subsidiary.
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