Common use of Required Payment Clause in Contracts

Required Payment. At any time upon: (i) a sale of twenty-five percent (25%) or more of the assets of either of the Borrowers (in a single transaction or a series of transactions not in the ordinary course of business), (ii) a repayment in full of the Senior Loan, or (iii) a Change in Control of any Borrower, the Loan shall be required to be prepaid in full with accrued interest plus the Exit Fee, as set forth in Section 6.3 (Default Rate) and Section 2.6 (Prepayment), at the option of Lender in its sole discretion; provided, however, that no prepayment penalty shall be required for a prepayment due to a Change in Control.

Required Payment. At any time upon: (i) a sale of twenty-five percent (25%) or more of the assets of either of the Borrowers (in a single transaction or a series of transactions not in the ordinary course of business), (ii) a repayment in full of the Senior AR Loan, or (iii) a Change in Control of any Borrower, the Loan shall be required to be prepaid in full with accrued interest plus the Exit Feeappropriate prepayment premium, as set forth in Section 6.3 (Default Rate) and Section 2.6 (Prepayment), ) at the option of Lender in its sole discretion; provided, however, that no prepayment penalty shall be required for a prepayment due to a Change in Control.