Change in Security Sample Clauses

Change in Security. Any change in the manner of creation of security of details of documentation for the said Bonds shall be only with the prior written approval of the Beneficial Owner(s)/Trustee.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Change in Security. Tenant’s security is increased to $618,837.93, and, on or before April 1, 2009, Tenant shall deliver to Landlord an amendment to the existing letter of credit in form and content reasonably acceptable to Landlord and in accordance with the subparagraph B. of Insert 37.2. to the Lease, whereby the total amount of said letter of credit is increased to said amount;
Sample 1
Change in Security. Any changes in the manner of creation of security or details of documentation for the said Debentures shall be only with the prior written approval of the Debenture Holders.
Sample 1
Change in Security. (a) On or before each anniversary of the Rent Commencement Date, Tenant shall provide Landlord with the audited financial statements of Tenant outlined below in this Section 35.5(a) which are adequate to permit Landlord to determine the status of satisfaction of the Financial Conditions (as hereinafter defined). Provided and on condition that (the "Conditions") (i) Tenant has not previously defaulted in its obligation to pay Fixed Rent, Tenant's Operating Payment and Tenant's Tax Payment to Landlord within the time periods set forth in this Lease and Landlord has not given two or more notices of any such default in the 12-month period preceding any Reduction Anniversary, (ii) no Event of Default then exists, (iii) Tenant has net income, determined in accordance with generally accepted accounting principles, consistently applied ("GAAP"), of at least $20 million for the calendar year immediately preceding (a "Preceding Year") a Reduction Anniversary (as defined below), (iv) Tenant has cash and cash equivalents at the end of the Preceding Year at least equal to the greater of (x) 25% of Tenant's total annual expenses for the Preceding Year (less depreciation, amortization and compensation (including benefits) paid to its managing directors), all determined in accordance with GAAP, and (y) $2,500,000 and (v) Tenant provides Landlord with audited financial statements which are certified as true and correct by its outside certified public accountants which are adequate to permit Landlord to confirm satisfaction of the conditions referred to in items (iii) and (iv) above (the "Financial Conditions"), then, provided that Tenant complies with the provisions of this Section 35.5, the Security Deposit shall be reduced on the following dates (each a "Reduction Anniversary") as follows: (A) on the date which is the first anniversary of the Rent Commencement Date that Tenant satisfies the Conditions, the Security Deposit shall be reduced to $1,207,584, (B) provided the Security Deposit shall have previously been reduced pursuant to the preceding clause (A), then on the date which is the date thereafter which is an anniversary of the Rent Commencement Date that Tenant satisfies the Conditions, the Security Deposit shall be reduced to $805,056, and (C) provided the Security Deposit shall have previously been reduced pursuant to the preceding clauses (A) and (B), then on the date which is the date thereafter which is an anniversary of the Rent Commencement Date that Tenan...
Sample 1
Change in Security. 15 5.2 FALSE INFORMATION................................................... 15 5.3 FAILURE TO DELIVER DOCUMENTS........................................ 15 5.4 INABILITY TO MEET CONDITION BY CLOSING DATE......................... 15
Sample 1

Related to Change in Security

  • Change in Structure Except as expressly permitted under Section 5.3, no Credit Party shall, and no Credit Party shall permit any of its Subsidiaries to amend any of its Organization Documents in any respect materially adverse to an Agent (in its capacity as such) or Lenders (in their capacities as such).

  • Change in Status ‌ In the event of any substantive change in its legal status, organizational structure, or fiscal reporting responsibility, Contractor will notify HCA of the change. Contractor must provide notice as soon as practicable, but no later than thirty (30) calendar days after such a change takes effect.

  • Succession upon Default Each of the following events shall constitute an Event of Default by Xxxxxx Xxx hereunder:

  • Change in Name Give Lender written notice immediately upon forming an intention to change its name, state of organization or form of business organization.

  • Change in Scope For substantial modifications in authorized Project scope, and/or substantial modifications of drawings and/or specifications previously accepted by City, when requested by City and through no fault of Consulting Engineer/Architect, the Consulting Engineer/Architect shall be compensated for time and expense required to incorporate such modifications at Consulting Engineer/Architect's standard hourly rates per Exhibit B; provided, however, that any increase in contract price or contract time must be approved through a written change order. Consulting Engineer/Architect shall correct or revise any errors or deficiencies in its designs, drawings or specifications without additional compensation when due to Consulting Engineer/Architect's negligence or other actionable fault.

  • Change in Effective Control A Change in Effective Control occurs if, over a twelve (12) month period: (i) a person or group acquires stock representing thirty percent (30%) of the voting power of the corporation; or (ii) a majority of the members of the board of directors of the ultimate parent corporation is replaced by directors not endorsed by the persons who were members of the board before the new directors’ appointment, as defined in Treasury Regulations §1.409A-3(i)(5)(vi).

  • Change in Effective Control of the Company A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

  • Effect of a Change in Control In the event of a Change in Control, Sections 6 through 13 of this Agreement shall become applicable to Executive. These Sections shall continue to remain applicable until the third anniversary of the date upon which the Change in Control occurs. On such third anniversary date, and provided that the employment of Executive has not been terminated on account of a Qualifying Termination (as defined in Section 5 below), this Agreement shall terminate and be of no further force or effect.

  • Change of Control/Change in Management (i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the then outstanding voting stock of the Parent;

  • Change in Condition There occurs any event or a change in the condition or affairs, financial or otherwise, of Borrower which, in the reasonable opinion of Lender, impairs Lender's security or ability of Borrower to discharge its obligations hereunder or which impairs the rights of Lender in such Collateral.

Time is Money Join Law Insider Premium to draft better contracts faster.