Common use of Purchase in the Event Clause in Contracts

Purchase in the Event. of a Change of Control. In the event NHLP has knowledge of a Change of Control or an impending Change of Control, NHLP will give written notice (herein called a "Control Change Notice") of such fact to all holders of the Notes then outstanding. Said Control Change Notice shall be delivered at least 60 days prior to the occurrence of such Change of Control; provided, however, that if NHLP shall not then have knowledge of such fact, such Control Change Notice shall be delivered promptly upon receipt of such knowledge by NHLP. In addition to notifying the holders of the Notes of a Change of Control or a proposed Change of Control, the Control Change Notice shall state that the occurrence of such Change of Control entitles said holders to tender the Notes held thereby to NHLP for purchase pursuant to this ss.3.6 and the date by which said holders must respond to such Control Change Notice pursuant to this ss.3.6 in order to make such election.

Appears in 2 contracts

Sources: Indenture of Trust and Security Agreement (National Healthcare Corp), Indenture of Trust and Security Agreement (National Health Realty Inc)