Prepayment of Notes Upon Change in Control Clause Samples
The "Prepayment of Notes upon Change in Control" clause requires the issuer of notes to repay the outstanding principal and any accrued interest to noteholders if there is a significant change in the ownership or control of the company. Typically, this clause is triggered when a merger, acquisition, or sale of a controlling interest occurs, giving noteholders the right to demand early repayment. Its core function is to protect investors from increased risk or uncertainty that may arise from a change in the company's control, ensuring they are not forced to remain invested under materially altered circumstances.
Prepayment of Notes Upon Change in Control. (a) Notice of Change in Control. The Company will, within 15 Business Days after any Responsible Officer has knowledge of the occurrence of any Change in Control or Control Event, give written notice of such Change in Control or Control Event to each holder of Notes unless notice in respect of such Change in Control (or Change in Control contemplated by such Control Event) shall have been given pursuant to paragraph (b) of this Section 8.3. If a Change in Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in paragraph (c) of this Section 8.3 and shall be accompanied by the certificate described in paragraph (g) of this Section 8.3.
Prepayment of Notes Upon Change in Control. 20 8.4. Offer to Prepay upon the Sale of Certain Assets. 22
Prepayment of Notes Upon Change in Control. Notice of Change in Control or Notice Event. The Company will, within five Business Days after any Responsible Officer has knowledge of the occurrence of any Change in Control or Notice Event, give written notice of such Change in Control or Notice Event to each holder of Notes. In the case that a Change in Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in subparagraph (b) of this Section 8.3 and shall be accompanied by the certificate described in subparagraph (e) of this Section 8.3.
Prepayment of Notes Upon Change in Control