Mandatory prepayment – Disposal. (a) The Obligors’ Agent must promptly notify the Facility Agent of a disposal by the Group of all or substantially all of the assets of the Group. (b) On any such disposal referred to in paragraph (a) above: (i) each Borrower must immediately repay or prepay each Credit utilised by it; and (ii) the Total Commitments will be immediately cancelled.
Appears in 3 contracts
Samples: Finance Agreement, Credit Facilities (Imperial Tobacco Group PLC), Credit Facilities Agreement (Imperial Tobacco Group PLC)
Mandatory prepayment – Disposal. (a) The Obligors’ Agent must promptly notify the Facility Agent of a disposal by the Group of all or substantially all of the assets of the Group.
(b) On any such disposal referred to in paragraph (a) above:
(i) each the Borrower must immediately repay or prepay each Credit utilised by it; and
(ii) the Total Commitments will be immediately cancelled.
Appears in 1 contract
Samples: Subordinated Equity Bridge Credit Facilities (Imperial Tobacco Group PLC)
