Common use of No Change in Ownership Clause in Contracts

No Change in Ownership. or control No Borrower shall permit any change in its beneficial ownership or control from that advised to the Agent at the date of this Agreement and shall procure that all the capital stock of the Borrowers is owned directly or indirectly by the Guarantor and that the present shareholders of the Guarantor shall maintain at all times beneficial ownership or control, directly or indirectly, of at least sixty per centum (60%) of each Borrower’s capital stock.

No Change in Ownership. or control No Borrower shall permit any change in its beneficial ownership or control from that advised to the Agent Lender at the date of this Agreement and shall procure that all the capital stock of the Borrowers is owned directly or indirectly by the Guarantor and that the present shareholders of the Guarantor shall maintain at all times beneficial ownership or control, directly or indirectly, of at least sixty per centum (60%) of each Borrower’s capital stock.