Common use of Repurchase upon Change in Control Clause in Contracts

Repurchase upon Change in Control. Upon the occurrence of a Change of Control, each Holder shall have the right to require the repurchase of its Notes by the Company in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the Accumulated Amount of such Notes on such date of purchase, plus accrued and unpaid interest, if any, on such Accumulated Amount to the date of purchase (the "Change of Control Payment"). A notice of such Change of Control will be mailed within 30 days after any Change of Control occurs to each Holder at his last address as it appears in the Security Register. Notes in original denominations larger than $1,000 may be sold to the Company in part; provided, however, that Notes will only be issued in denominations of $1,000 principal amount at maturity or integral multiples thereof. On and after the Change of Control Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the Company, unless the Company defaults in the payment of the Change of Control Payment.

Appears in 3 contracts

Samples: Indenture (Winstar Communications Inc), Indenture (Winstar Communications Inc), Winstar Communications Inc

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Repurchase upon Change in Control. Upon Unless waived in writing by Holders of two-thirds in principal amount of the Notes then outstanding, upon the occurrence of a any Change of Control, each Holder shall have the right to require the repurchase of its Notes by the Company in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the Accumulated Claimed Amount of such Notes on such date of purchase, thereof plus accrued and unpaid interest, if any, on such Accumulated Amount to the date of purchase (the "β€œChange of Control Payment"”). A notice of such Change of Control will be mailed within 30 days after any Change of Control occurs to each Holder at his last address as it appears in the Security Register. Notes in original denominations larger than $1,000 may be sold to the Company in part; provided, however, provided that Notes will only be issued in denominations of $1,000 1.00 principal amount at maturity or integral multiples thereof. On and after the Change of Control Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the Company, unless the Company defaults in the payment of the Change of Control Payment.

Appears in 2 contracts

Samples: Impsat Fiber Networks Inc, Impsat Fiber Networks Inc

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Repurchase upon Change in Control. Upon Unless waived in writing by Holders of two-thirds in principal amount of the Notes then outstanding, upon the occurrence of a any Change of Control, each Holder shall have the right to require the repurchase of its Notes by the Company in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the Accumulated Claimed Amount of such Notes on such date of purchase, thereof plus accrued and unpaid interest, if any, on such Accumulated Amount to the date of purchase (the "Change of Control Payment"). A notice of such Change of Control will be mailed within 30 days after any Change of Control occurs to each Holder at his last address as it appears in the Security Register. Notes in original denominations larger than $1,000 may be sold to the Company in part; provided, however, provided that Notes will only be issued in denominations of $1,000 1.00 principal amount at maturity or integral multiples thereof. On and after the Change of Control Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the Company, unless the Company defaults in the payment of the Change of Control Payment.

Appears in 1 contract

Samples: Impsat Fiber Networks Inc

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