Common use of Change of Parent Clause in Contracts

Change of Parent. Subject to the provisions of clause 7.2 (Change of Control) and compliance with clause 19.9 (“Know your customer” checks) the Borrower may request a replacement of the Parent in circumstances where the Group is involved in any Permitted IPO. Any such request shall require the consent of the Agent (acting on the instructions of all Lenders), which the Agent shall have full liberty to withhold and which may be granted on such conditions as the Agent may require. If a replacement is so approved the Parent shall be released from its obligations under this Agreement and such obligations shall be assumed by such replacement on terms acceptable to the Agent.

Change of Parent. Subject to the provisions of clause 7.2 (Change of Control) and compliance with clause 19.9 (“Know your customer” checks) the Borrower Borrowers may request a replacement of the Parent in circumstances where the Group is involved in any Permitted IPO. Any such request shall require the consent of the Agent (acting on the instructions of all Lenders), which the Agent shall have full liberty to withhold and which may be granted on such conditions as the Agent may require. If a replacement is so approved the Parent shall be released from its obligations under this Agreement and such obligations shall be assumed by such replacement on terms acceptable to the Agent.

Change of Parent. 33.2.1 Subject to the provisions of clause 7.2 (Change of Control) and compliance with clause 19.9 (“Know your customer” checks) the Borrower may request a replacement of the Parent in circumstances where the Group is involved in any Permitted IPOan initial public offering of shares. Any such request shall require the consent of the Agent (acting on the instructions of all Lenders), which the Agent shall have full liberty to withhold and which may be granted on such conditions as the Agent may require. If a replacement is so approved the Parent shall be released from its obligations under this Agreement and such obligations shall be assumed by such replacement on terms acceptable to the Agent.