definiens: shall mean, in the case ofP&GP, the five companies listed by it on Schedule III ( together with their majority owned, direct or indirect subsidiaries ), and in the case of [COMPANY], the five companies listed by it on Schedule III ( together with their majority owned, direct or indirect subsidiaries ) . Each Party shall supply its initial list to the other following execution and delivery of this Memorandum . Either Party may revise its list by written notice to the other delivered within 10 days on or after each January 1 and June 1 of each year during the Tenn. Within 10 days on or after each December 1 and May 1 of each year during the Tenn, [COMPANY] agrees to provide P&GP a written reminder ofP&GP 's rights under this Section . Neither Party shall have the right to amend its list of 5 companies after the Acquired Party publicly announces, or confidentially notifies the Continuing Party, that it proposes a Change of Control transaction with a company that is not on the list