(c) that it shall establish such offices and other premises, transportation and administration facilities as are necessary to enable it to effectively and efficiently market and distribute the Products in the Territory;
(d) that it is not at the time of entering into this Agreement insolvent and knows of no circumstance which would entitle any creditor to appoint a receiver or petition for winding up or to exercise any other rights over or against its assets; and
(e) that it will not distribute in the Territory any goods which directly compete with the Products without the express written authorization of IBS, which authorization may be granted, withheld or delayed at IBS’s discretion.
5.2. IBS shall forthwith notify the Distributor in writing of any changes in the composition of its board of directors or in its senior management or of any Change of Control. Change of Control means the occurrence of either of the following: (i) share capital carrying 30]% or more of the voting rights in the Distributor or any company which is its parent is acquired by or transferred, whether directly or indirectly, to a person, company or group engaged in the manufacture or sale of [products which compete with the Products]; or (ii) the Distributor becomes a Subsidiary of another corporate body (which corporate body is not itself a Subsidiary of the current Holding Company of the Distributor).