Common use of Change in Control of Borrower Clause in Contracts

Change in Control of Borrower. (i) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) other than employees of the Borrower (either directly or through a retirement or employee benefit plan), shall become the "beneficial owner(s)" (as defined in said Rule 13d-3) of more than twenty-five percent (25%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors, or (ii) any event or condition shall occur or exist which, pursuant to the terms of any Change in Control Provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Choicepoint Inc), Revolving Credit Agreement (Choicepoint Inc), Revolving Credit Agreement (Choicepoint Inc)

AutoNDA by SimpleDocs

Change in Control of Borrower. (ia) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) ), other than employees of stockholders existing on the Borrower (either directly Closing Date or through a retirement or employee benefit plan), their affiliates and the Persons set forth in Schedule 9.10 shall become the "beneficial owner(s)" (as defined in said Rule 13d-313d-3 of the Exchange Act) of more than twenty-five forty percent (2540%) of the shares of the outstanding common stock Capital Stock of Borrower entitled to vote for members of Borrower's ’s board of directors, or ; or (iib) any Any event or condition shall occur or exist which, pursuant to the terms of any Change change in Control Provisioncontrol provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 2 contracts

Samples: Revolving and Term Loan Agreement, Revolving and Term Loan Agreement (Brown & Brown Inc)

Change in Control of Borrower. (i) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) other than employees of the Borrower (either directly or through a retirement or employee benefit plan), shall become the "beneficial owner(s)" (as defined in said Rule 13d-3) of more than twenty-five percent (25%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors, or (ii) any event or condition shall occur or exist which, pursuant to the terms of any Change in Control Provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Choicepoint Inc), Revolving Credit Agreement (Choicepoint Inc)

Change in Control of Borrower. (ia) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) (other than employees of the Borrower (either directly or through a retirement or employee benefit plan), Persons listed on SCHEDULE 9.11) shall become the "beneficial owner(s)" (as defined in said Rule 13d-313d-3 promulgated under the Exchange Act) of more than twenty-five twenty percent (2520%) of the shares of the outstanding common stock of Borrower entitled to vote for members of Borrower's board of directors, or ; or (iib) any event or condition shall occur or exist which, pursuant to the terms of any Change change in Control Provisioncontrol provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.;

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Able Telcom Holding Corp)

Change in Control of Borrower. (ia) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) ), other than employees of stockholders existing on the Borrower (either directly Closing Date or through a retirement or employee benefit plan), their affiliates and the Persons set forth in Schedule 9.11 shall become the "beneficial owner(s)" (as defined in said Rule 13d-313d-3 of the Exchange Act) of more than twenty-five forty percent (2540%) of the shares of the outstanding common stock Capital Stock of Borrower entitled to vote for members of Borrower's ’s board of directors, or ; or (iib) any Any event or condition shall occur or exist which, pursuant to the terms of any Change change in Control Provisioncontrol provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 1 contract

Samples: Revolving Loan Agreement (Brown & Brown Inc)

AutoNDA by SimpleDocs

Change in Control of Borrower. (ia) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) ), other than employees of stockholders existing on the Borrower (either directly Closing Date or through a retirement or employee benefit plan), their affiliates and the Persons set forth in Schedule 9.11 shall become the "beneficial owner(s)" (as defined in said Rule 13d-313d-3 of the Exchange Act) of more than twenty-five forty percent (2540%) of the shares of the outstanding common stock Capital Stock of Borrower entitled to vote for members of Borrower's board of directors, or ; or (iib) any Any event or condition shall occur or exist which, pursuant to the terms of any Change change in Control Provisioncontrol provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 1 contract

Samples: Revolving Loan Agreement (Brown & Brown Inc)

Change in Control of Borrower. (ia) Any "person" or "group" (within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act) ), other than employees of stockholders existing on the Borrower (either directly Closing Date or through a retirement or employee benefit plan)their affiliates and the Persons set forth in Schedule 9.11 , shall become the "beneficial owner(s)" (as defined in said Rule 13d-313d-3 of the Exchange Act) of more than twenty-five forty percent (2540%) of the shares of the outstanding common stock Capital Stock of Borrower entitled to vote for members of Borrower's board of directors, or ; or (iib) any Any event or condition shall occur or exist which, pursuant to the terms of any Change change in Control Provisioncontrol provision, requires or permits the holder(s) of Indebtedness of any Consolidated Company to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated in any respect.

Appears in 1 contract

Samples: Revolving and Term Loan Agreement (Brown & Brown Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!