Common use of CHANGE IN CONSTITUTION Clause in Contracts

CHANGE IN CONSTITUTION. 12.2.1 The Intending LESSEE may be permitted to change its constitution subject to the condition that the shareholders/members of the Intending LESSEE shall hold not less than fifty one (51) % of the equity in case of a Company or fifty one (51) % share in the profit and loss of the partnership firm in the event the Intending Lessee being a Company or a Partnership Firm, and subject to the condition that the intending lessee has majority in the proposed Trust or Society in the event of the intending lessee being a Trust or Society. S.

CHANGE IN CONSTITUTION. 12.2.1 The Intending LESSEE may be permitted to change its constitution subject to the condition that the shareholders/members of the Intending LESSEE shall hold not less than fifty one (51) % of the equity in case of a Company or fifty one (51) % share in the profit and loss of the partnership firm in the event the Intending Lessee being a Company or a Partnership Firm, and subject to the condition that the intending lessee has majority in the proposed Trust or Society in the event of the intending lessee being a Trust or Society. S..