Common use of CHANGE IN CONTROL OF THE BORROWER Clause in Contracts

CHANGE IN CONTROL OF THE BORROWER. If (i) any Change in Control occurs hereunder or (ii) any event or condition shall occur or exist which, pursuant to the terms of any Change in Control Provision (other than a Change in Control Provision in the Waldorf Indenture and the Waldorf Credit Agreement) requires or permits the holder(s) of the Indebtedness subject to such Change in Control Provision to require that such Indebtedness be redeemed, repurchased, defeased, prepaid or repaid, in whole or in part, or the maturity of such Indebtedness to be accelerated, then, upon the occurrence of the events described in (i) or (ii) above, the Borrower shall provide notice of the occurrence thereof to the Agent and the Lenders promptly after such occurrence and, on the ninetieth (90th) day after such occurrence, unless the Lenders shall have elected otherwise (such election to be made in their sole and absolute discretion), there shall be an automatic reduction of the Revolving Credit Commitments and the Swing Line Commitments and the Borrower shall repay in full all outstanding Loans, together with all accrued and unpaid interest thereon and Facility Fees due hereunder, and all other amounts owing to the Lenders hereunder.