Common use of Repurchase at the Option of Holders upon Change of Control Clause in Contracts

Repurchase at the Option of Holders upon Change of Control. (a) Upon the occurrence of a Change of Control, the Issuer will make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased to (but not including) the date of purchase, subject to the rights of Holders on the relevant Interest Record Date to receive interest due on the relevant Interest Payment Date (the “Change of Control Payment”). Within 30 days following any Change of Control, the Issuer will send a notice to each Holder with a copy to the Trustee describing the transaction or transactions that constitute the Change of Control and stating:

Appears in 2 contracts

Samples: Indenture (Horizon Lines, Inc.), Indenture (Horizon Lines, Inc.)

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Repurchase at the Option of Holders upon Change of Control. (a) Upon the occurrence of a Change of Control, the Issuer Borrower will make an offer (a “Change of Control Offer”) to each Holder Lender to repurchase repay all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that HolderLender’s Notes Loans at a purchase price in cash equal to 101% of the aggregate principal amount of Notes Loans repurchased, plus accrued and unpaid interest and Additional Interest, if any, on the Notes Loans repurchased to (but not including) the date of purchase, subject to the rights of Holders on the relevant Interest Record Date to receive interest due Lenders on the relevant Interest Payment Date to receive interest due (the “Change of Control Payment”). Within 30 days following any Change of Control, the Issuer Borrower will send a notice to each Holder Lender with a copy to the Trustee Administrative Agent describing the transaction or transactions that constitute the Change of Control and stating:

Appears in 1 contract

Samples: Term Loan Agreement (Horizon Lines, Inc.)

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Repurchase at the Option of Holders upon Change of Control. (a) Upon the occurrence of a Change of Control, the Issuer will make an offer (a “Change of Control Offer”) to each Holder of Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 1,000 or an integral multiple of $1,000 in excess thereof) of that such Holder’s 's Notes pursuant to the offer described below (the "CHANGE OF CONTROL OFFER") at a purchase an offer price in cash equal to 101% of the aggregate principal amount of Notes repurchased, thereof plus accrued and unpaid interest and Additional Interestinterest, if any, on the Notes repurchased thereon to (but not including) the date of purchase, subject to the rights of Holders on the relevant Interest Record Date to receive interest due on the relevant Interest Payment Date purchase (the "CHANGE OF CONTROL PAYMENT") on a date that is not more than 90 days after the occurrence of such Change of Control Payment”(the "CHANGE OF CONTROL PAYMENT DATE"). Within 30 days following any Change of Control, the Issuer Company will send mail, or at the Company's request the Trustee will mail, a notice to each Holder with a copy offering to repurchase the Notes held by such Holder pursuant to the Trustee describing the transaction or transactions that constitute the Change of Control and stating:procedures specified in such notice.

Appears in 1 contract

Samples: Solutia Inc

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