No change in management. The Borrower shall procure that, without the prior written consent of the Lender, there shall be no termination of, alteration to, or waiver of any term of, the Management Agreement and the Borrower shall not without the prior written consent of the Lender permit the Managers to sub-contract or delegate the commercial or technical management of the Vessel to any third party.
No change in management. Borrower shall not cause or suffer the occurrence of any change in its senior management (including its chief executive officer, chief financial officer and chief operating officer) as of the Closing Date; provided, that, in the event of the resignation, retirement or death of any of the foregoing, Borrower shall replace the same with a Person reasonably acceptable to Agent.
No change in management. The Borrower will not permit anyone other than the Manager to be appointed as commercial or technical managers of the Collateral Vessels, nor permit any material variation of the arrangements for the commercial or technical management of the Collateral Vessels, nor permit the Manager to sub-contract or delegate a material part of the commercial or technical management of any Collateral Vessel to any third party.
No change in management. Borrower will not and will cause Merchants Bank and P/R Mortgage to not, without the prior written consent of Lender, make any change in the key management of Borrower or Merchants Bank or P/R Mortgage which currently is as follows: Borrower Name Officer Title/Position Xxxxxxx X. Xxxxxx Chairman of the Board and Chief Executive Officer Xxxxxxx X. Xxxxxx President and Chief Operating Officer Merchants Bank Name Officer Title/Position Xxxxxxx X. Xxxxxx Chairman of the Board Xxxxxxx X. Xxxxxx Vice Chairman P/R Mortgage Name Officer Title/Position Xxxxxxx X. Xxxxxx President Xxxxxxx X. Xxxxxx Chairman of the Board
No change in management. Without the prior written consent of the Administrative Agent, such consent not to be withheld unreasonably, the Borrower will not, and will not permit any other Loan Party, or any other person, to, change the senior management of any of the Borrower or such Loan Party, provided, however, that compliance with this Section 5.02(j) is waived with respect to changes in senior management (other than Cxxxx Xxxxxxxxx'x role as chief executive officer of each Loan Party) in the event of the occurrence of a Qualified IPO.
No change in management. (a) Between the date hereof and the Closing, Nyer shall not make, cause or permit any change in the management of the Company, unless approved in writing by the Management Representatives. Without limiting the generality of the foregoing, Nyer agrees there shall be no change in the Board of Directors of the Company or its senior management without the written consent of the Management Representatives.
No change in management without the prior written consent of an Instructing Group, permit the appointment of anyone other than the Managers as commercial or technical managers of the Vessels, nor terminate or materially vary the arrangements for the commercial or technical management of the Vessels, nor permit the Managers to sub-contract or delegate the commercial or technical management of any Vessel to any third party outside of the SCS Group; nor
No change in management. Without the prior written consent of the Administrative Agent, such consent not to be withheld unreasonably, the Borrower will not, and will not permit any other Loan Party to, change the senior management of any of the Borrower or such Loan Party and, in particular, Xxxxx Xxxxxxxxx will remain Chief Executive Officer of each Loan Party.
No change in management. Each Borrower shall procure that each Collateral Owner shall procure that, without the prior written consent of the Agent, there shall be no termination of, alteration to, or waiver of any term of, the Management Agreement in respect of its Collateral Vessel and no Collateral Owner shall without the prior written consent of the Agent permit the Managers to sub-contract or delegate the commercial or technical management of its Collateral Vessel to any third party.
No change in management. Neither Timoxxx X. Xxxxxxxx xxx Stevxx X. Xxxx xxxll cease to be an active principal officer and executive manager of Tenant unless the replacement officers are qualified and experienced in the management of assisted living facilities or other similar facilities and the replacements are reasonably acceptable to, and reasonably approved in advance by, Landlord.
