Common use of Alternative Implementation Clause in Contracts

Alternative Implementation. In the event that the Exchange Offer is not consummated within five days of the expiration of the solicitation period (which expiration date shall be no later than the 60th calendar day following the commencement of the Exchange Offer, unless extended with the consent of each Security Holder), the Companies shall (i) seek to consummate, as soon as practicable following such expiration, the same economic transactions contemplated by the Exchange Offer through an alternative implementation structure that is reasonably likely to succeed, and (ii) if the Companies (x) fail to commence such alternative implementation structure within 30 days following the expiration of the solicitation period or (y) fail to pursue and consummate such alternative implementation structure, pay in cash to each holder who tendered 2005 Notes, Convertible Notes or Xxxxxxx Bonds in the Exchange Offer prior to its expiration a termination fee equal to 2.5% of the principal amount of any such securities tendered.