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

Fundamental Changes, Line of Business. Loan Parties shall not, and shall not permit any Subsidiary to, (i) amend its organizational documents or change its Fiscal Year unless (A) such actions would not have a Material Adverse Effect; (B) such actions would not adversely affect the obligations of any Loan Party or any Subsidiary to Lender; (C) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (D) Lender has received ten (10) days prior written notice of such amendment or change or (ii) enter into a new line of business materially different from its current business; provided that lines of businesses which are incidental, complimentary or reasonably related to such Person’s existing business are permitted.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Lawson Products Inc/New/De/)

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Fundamental Changes, Line of Business. Loan Parties No Borrower shall, nor shall not, and shall not it permit any Subsidiary to, other Loan Party to (i) amend its organizational documents or change its Fiscal Year unless (Aw) such actions would not have a Material Adverse EffectEffect on such Borrower; (Bx) such actions would not adversely affect the obligations of such Borrower or any Loan Party or any Subsidiary to LenderAdministrative Agent and Lenders; (Cy) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (Dz) Lender Administrative Agent has received ten (10) days prior written notice of such amendment or change or (ii) enter into a new line of business materially different from its such Borrower’s current business; provided that lines of businesses which are incidental, complimentary or reasonably related to such Person’s existing business are permitted.

Appears in 1 contract

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

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Fundamental Changes, Line of Business. Loan Parties shall notNo Borrower shall, and shall not permit any Subsidiary to, other Loan Party to (i) amend its organizational documents or change its Fiscal Year unless (Aw) such actions would not have a Material Adverse Effect; (Bx) such actions would not adversely affect the obligations of such Borrower or any Loan Party or any Subsidiary to Lender; (Cy) such actions would not adversely affect the interpretation of any of the terms of this Agreement or the other Loan Documents and (Dz) Lender has received ten (10) days prior written notice of such amendment or change or (ii) enter into a new line of business materially different from its Borrowers’ current business; provided that lines of businesses which are incidental, complimentary or reasonably related to such Person’s existing business are permitted.

Appears in 1 contract

Samples: Loan and Security Agreement (Broadwind Energy, Inc.)

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