Change of Control Involving JAII

Change of Control Involving JAII. Shall mean such time as (i) a person or group (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of voting stock representing more than 50.1% of the outstanding voting securities of JAII, or (ii) individuals who, on the date hereof, constitute the board of directors of JAII (together with any new directors whose election by the board of directors or whose nomination for election by JAII's... stockholders was approved by a vote of at least two-thirds of the members of the board of directors of JAII then in office who either were members of the board of directors of JAII on the date hereof or whose election or nomination for election as previously so approved) cease for any reason to constitute a majority of the members of the Board of Directors of JAII then in office, or (iii) the sale of all or substantially all of the operating assets of JAII in one or more transactions. View More