Common use of Shareholdings Clause in Contracts

Shareholdings. (a) change, cause or permit any change in, the legal and/or ultimate beneficial ownership of any of the shares in any of the Borrowers, the Aegean Shipholdings Guarantor, the Manager or the Aegean Bunkering Guarantor from that specified in clause 7.1.11; or (b) change, cause or permit any change in, the ultimate beneficial ownership of any shares in the Aegean Marine Guarantor which would result in: (i) the persons specified in clause 7.1.11 being the ultimate beneficial owners of less than thirty five per cent (35%) of the total voting share capital of the Aegean Marine Guarantor at any time; or (ii) any person (other than those referred to in clause 7.1.11) having the ultimate beneficial ownership of more shares in the Aegean Marine Guarantor than the persons specified in clause 7.1.11 have at any time; or

Shareholdings. (a) change, cause or permit there is any change in, in the legal and/or ultimate beneficial ownership of any of the shares in of any of the Borrowers, the Aegean Shipholdings Guarantor, the Manager or the Aegean Bunkering Guarantor or the Manager from that existing on the date of this Agreement as specified in clause 7.1.11; or (b) change, cause or permit there is any change in, in the ultimate beneficial ownership of any shares in the Aegean Marine Guarantor which would result in: (i) the persons specified in clause 7.1.11 being the ultimate beneficial owners of less than thirty five per cent (35%) of the total voting share capital of the Aegean Marine Guarantor at any timeGuarantor; or (ii) any person (other than those referred to in clause 7.1.11) having the ultimate beneficial ownership of more shares in the Aegean Marine Guarantor than the persons specified in clause 7.1.11 have at any time; or