Common use of Notice of Change in Control Clause in Contracts

Notice of Change in Control. Notice of any Change in Control shall be given by the Company on or before the tenth day after such Change in Control to each Holder of Securities in accordance with Section 1.6, and by written notice to the Trustee on or before the ninth day after such Change in Control, unless the Continuing Directors have approved such Change in Control, or the Company gives or shall have given, if permitted to do so by the terms of the Securities of a series (whether before or after such Change in Control), notice of the redemption at its option of all of the Securities of such series, in either case, on or before such ninth day. The notice as to Change in Control shall state: (1) the event constituting the Change in Control; (2) the Redemption Date for redemptions pursuant to Section 14.1, which shall be 35 days after the date of such Notice; (3) the Redemption Price; (4) the date which is the last day of the Exercise Period; (5) if any part of the Exercise Period is on or after the Exchange Date, the place or places where such Securities, together in the case of Bearer Securities with all coupons appertaining thereto maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price; and (6) that exercise of the option to elect redemption is irrevocable.