Common use of Exit Clause in Contracts

Exit. (a) Subject to paragraph (b) below, upon the occurrence of (i) a Change of Control, or (ii) the sale of all or substantially all of the assets of the Restricted Group whether in a single transaction or a series of related transactions, the Facility will be cancelled and all outstanding Utilisations and Ancillary Outstandings, together with accrued interest, and all other amounts accrued under the Finance Documents, shall become immediately due and payable.

Appears in 6 contracts

Samples: Intercreditor Agreement (Nord Anglia Education, Inc.), Intercreditor Agreement (Nord Anglia Education, Inc.), Intercreditor Agreement (Nord Anglia Education, Inc.)

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