Common use of CHANGE OF CONTROL AND CHANGE OF OWNERSHIP Clause in Contracts

CHANGE OF CONTROL AND CHANGE OF OWNERSHIP. 82.1 The Service Provider shall promptly and in any event within five (5) Working Days notify TfL of the public announcement of: 82.1.1 any event that may give rise to a Change of Ownership or a Change of Control affecting it and/or a future Change of Ownership or Change of Control and provide such information as TfL requires in relation to such a Change of Ownership; and 82.1.2 the sale or proposed sale of all or substantially all of the business of the Service Provider or the Guarantor. 82.2 In the event of the sale of all or substantially all of the business of the Service Provider or the Guarantor, TfL shall have the right to terminate this Agreement within sixty (60) days of receipt of notice from the Service Provider in accordance with Clause 82.1 unless, in the case of a sale affecting the Guarantor, the Service Provider has within such period provided a guarantee from a replacement guarantor acceptable to TfL in terms identical to the Guarantee.