Common use of Change of Control Prepayment Offer Clause in Contracts

Change of Control Prepayment Offer. (i) Upon the occurrence of a Change of Control, each Lender shall have the right to require the Borrower to prepay all of such Lender’s outstanding Term Loans at a price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of such repayment. (ii) Within 2 Business Days following any Change of Control, the Borrower shall provide a written notice to each Lender, with a copy to the Administrative Agent, containing the following information (such notice, a “Change of Control Offer”):

Appears in 1 contract

Samples: Plan Support Agreement (Molecular Insight Pharmaceuticals, Inc.)

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