Common use of Fundamental Change Clause in Contracts

Fundamental Change. Debtor will not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in organizational structure or the jurisdiction in which it is organized, unless it has provided Lender with THIRTY (30) days prior written notice.

Appears in 2 contracts

Samples: Loan and Security Agreement (TGC Industries Inc), Loan and Security Agreement (Dawson Geophysical Co)

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Fundamental Change. Debtor will not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in organizational structure or the jurisdiction in which it is organized, unless it has provided Lender with THIRTY (30) days prior written notice.

Appears in 2 contracts

Samples: Loan and Security Agreement (Avatar Systems Inc), Loan and Security Agreement (Avatar Systems Inc)

Fundamental Change. Debtor will not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in it legal name, organizational structure or the jurisdiction in which it is organized. LOAN AND SECURITY AGREEMENT – PAGE THERMO CREDIT, unless it has provided Lender with THIRTY (30) days prior written noticeLLC – FLINT TELECOM GROUP, INC.

Appears in 1 contract

Samples: Loan and Security Agreement (Flint Telecom Group Inc.)

Fundamental Change. Debtor will not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in organizational structure or the jurisdiction in which it is organizedorganized which is adverse to the interests of Lender under the Loan Documents, unless it has provided Lender except that (A) any Person constituting Debtor may liquidate, merge or consolidate with THIRTY or into any other Person constituting Debtor, and (30B) days prior written noticeDebtor may make Permitted Acquisitions.

Appears in 1 contract

Samples: Loan and Security Agreement (Teletouch Communications Inc)

Fundamental Change. Debtor will shall not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in organizational structure or the jurisdiction in which it is organized, unless it has provided Lender with THIRTY (30) days prior written notice.

Appears in 1 contract

Samples: Loan and Security Agreement (Enova International, Inc.)

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Fundamental Change. Debtor will shall not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, or (iii) make a change in organizational structure or the jurisdiction in which it is organized. LOAN AND SECURITY AGREEMENT – PAGE 8 REDPOINT CAPITAL ASSET FUNDING, unless it has provided Lender with THIRTY (30) days prior written notice.LLC – EFR 2016-2, LLC

Appears in 1 contract

Samples: Loan and Security Agreement (Enova International, Inc.)

Fundamental Change. No Debtor will not (i) make any material change in the nature of its business as carried on as of the date hereof, (ii) liquidate, merge or consolidate with or into any other Person, (iii) cause, permit or suffer, directly or indirectly, any Change of Control or (iiiiv) make a change in organizational structure or the jurisdiction in which it is organized, unless it has provided Lender with THIRTY (30) days prior written notice. No Inactive Debtor shall commence any business except business similar in nature as that previously conducted by such Inactive Debtor.

Appears in 1 contract

Samples: Loan Agreement (Onstream Media CORP)

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