Common use of Effect of Change in Control Purchase Notice Clause in Contracts

Effect of Change in Control Purchase Notice. Upon receipt by any Paying Agent of the Change in Control Purchase Notice specified in Section l601(c), the Holder of the 2020 Debenture in respect of which such Change in Control Purchase Notice was given shall (unless such Change in Control Purchase Notice is withdrawn as specified below) thereafter be entitled to receive the Change in Control Purchase Price with respect to such 2020 Debenture. Such Change in Control Purchase Price shall be paid to such Holder promptly following the later of (a) the Change in Control Purchase Date with respect to such 2020 Debenture (provided the conditions in Section 1601(c) have been satisfied) and (b) the time of delivery of such 2020 Debenture to a Paying Agent by the Holder thereof in the manner required by Section 1601(c). 2020 Debentures in respect of which a Change in Control Purchase Notice has been given by the Holder thereof may not be converted into Common Stock on or after the date of the delivery of such Change in Control Purchase Notice unless such Change in Control Purchase Notice has first been validly withdrawn.

Appears in 1 contract

Samples: Second Supplemental Indenture (Diamond Offshore Drilling Inc)

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Effect of Change in Control Purchase Notice. Upon receipt by any the Paying Agent of the Change in Control Purchase Notice specified in Section l601(c3.8(c), the Holder of the 2020 Debenture Security in respect of which such Change in Control Purchase Notice was given shall (unless such Change in Control Purchase Notice is withdrawn as specified below) thereafter be entitled to receive solely the Change in Control Purchase Price with respect to such 2020 DebentureSecurity plus accrued interest thereon up to but not including the Change in Control Purchase Date. Such Change in Control Purchase Price and accrued interest shall be paid to such Holder promptly following the later of (a) the Change in Control Purchase Date with respect to such 2020 Debenture Security (provided the conditions in Section 1601(c3.8(c) have been satisfied) and (b) the time of delivery of such 2020 Debenture Security to a the Paying Agent by the Holder thereof in the manner required by Section 1601(c3.8(c). 2020 Debentures Securities in respect of which a Change in Control Purchase Notice has been given by the Holder thereof may not be converted into shares of Common Stock on or after the date of the delivery of such Change in Control Purchase Notice unless such Change in Control Purchase Notice has first been validly withdrawn.

Appears in 1 contract

Samples: Indenture (Equity Corp International)

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