Common use of Technical Systems Ltd Clause in Contracts

Technical Systems Ltd. to The Navaratnam Trust and The Burns Trust issued on the date hereof; (vii) any ▇▇▇▇rial change in any compensation arrangement or agreement with any key employee, officer, director or stockholder of the Company or any of its Subsidiaries; (viii) any declaration or payment of any dividend or other distribution of the assets of the Company or any of its Subsidiaries; (ix) any labor organization activity related to the Company or any of its Subsidiaries; (x) any debt, obligation or liability incurred, assumed or guaranteed by the Company or any of its Subsidiaries in excess of a principal amount of $150,000 in the aggregate, except those for immaterial amounts and for current liabilities incurred in the ordinary course of business; (xi) any sale, assignment or transfer of any material patents, trademarks, copyrights, trade secrets or other intangible assets owned by the Company or any of its Subsidiaries other than in the ordinary course of business; (xii) any change in any material agreement to which the Company or any of its Subsidiaries is a party or by which either the Company or any of its Subsidiaries is bound which either individually or in the aggregate has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; (xiii) any other event or condition of any character that, either individually or in the aggregate, has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; or (xiv) any arrangement or commitment by the Company or any of its Subsidiaries to do any of the acts described in subsection (i) through (xiii) of this Section 12(h).