Definition of PowerSav Change of Control


PowerSav Change of Control means any one, or a series of any one, of the following: (i) a merger, consolidation, security exchange, issuance or sale of equity securities or other reorganization of, or involving, PowerSav pursuant to which PowerSav's interest holders (determined immediately prior to the time at which such transaction is effected) collectively have beneficial ownership of less than 51% of the total outstanding ownership interest of PowerSav, or comparable equity securities of the surviving entity if PowerSav is not the surviving entity, immediately following such transaction; (ii) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions), of all or substantially all of the assets of PowerSav; (iii) the interest holders' or board's approval of any plan or proposal for the liquidation or dissolution of PowerSav or (iv) PowerSav's submission or becoming subject to any bankruptcy proceeding, the appointment of a trustee, custodian or conservator or any other similar voluntary or involuntary creditors' right proceeding.
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