IPO Event. As a condition to the occurrence of the IPO Event, Borrower agrees as follows: (a) all matters relating to the IPO Event, including, without limitation, the organizational structure and management of REIT, General Partner, Borrower, and their Subsidiaries following the occurrence of the IPO Event, shall be subject to the Agent’s approval, which approval shall not be unreasonably withheld, conditioned or delayed; (b) all of the formation and other material agreements related to the IPO Event shall be in form and substance reasonably acceptable to Agent; (c) the structure of the IPO Event shall be such that following the IPO Event the financial results of Borrower and its Subsidiaries shall continue to be Consolidated with the accounts of REIT; (d) After giving effect to the IPO Event, no Change of Control or other Default or Event of Default shall occur; and (e) the Borrowers, Guarantors and the Agent shall enter into such amendments to the Loan Documents or other agreements as the Agent may reasonably require to reflect the IPO Event.
Appears in 2 contracts
Sources: Credit Agreement (MedEquities Realty Trust, Inc.), Credit Agreement (MedEquities Realty Trust, Inc.)