Common use of Fundamental Changes, Line of Business Clause in Contracts

Fundamental Changes, Line of Business. Borrower shall not and shall not permit any other Loan Party to (i) amend its organizational documents or change its Fiscal Year unless (w) such actions would not have a Material Adverse Effect on Borrower; (x) such actions would not affect the obligations of Borrower or any Loan Party to Administrative Agent and Lenders; (y) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (z) Administrative Agent has received 10 days prior written notice of such amendment or change or (ii) enter into a new line of business materially different from Borrower’s current business.

Appears in 1 contract

Samples: Loan and Security Agreement (TPG Pace Holdings Corp.)

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Fundamental Changes, Line of Business. Borrower shall not not, and shall not permit any other Loan Credit Party to to, (i) amend its organizational documents or change its Fiscal Year unless (w) such actions action would not have a Material Adverse Effect material adverse effect on Borrowerany Credit Party; (x) such actions would not affect the obligations of Borrower any Credit Party, Agent or any Loan Party to Administrative Agent and the Lenders; , (y) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (z) Administrative Agent has and the Lenders have received 10 ten (10) days prior written notice of such amendment or of change or (ii) or enter into a new line of business materially different from Borrower’s the current business.business of the Credit Parties;

Appears in 1 contract

Samples: Loan and Security Agreement (Titan Global Holdings, Inc.)

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Fundamental Changes, Line of Business. Each Borrower shall not and shall not permit any other Loan Party to (i) amend its organizational documents or change its Fiscal Year unless (w) such actions would not have a Material Adverse Effect on Borrowerthe Loan Parties; (x) such actions would not affect the obligations of any Borrower or any other Loan Party to Administrative Agent and LendersLender; (y) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (z) Administrative Agent Lender has received 10 ten (10) days prior written notice of such amendment or change or (ii) enter into a new line of business materially different from Borrower’s Borrowers’ current business.

Appears in 1 contract

Samples: Loan and Security Agreement (Katy Industries Inc)

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