Common use of Deposit of Purchase Price Clause in Contracts

Deposit of Purchase Price. (a) Prior to 1:00 p.m., New York City time, on the applicable Purchase Date, the Company shall deposit with the Paying Agent (or, if the Company or an Affiliate of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount in cash (in immediately available funds if deposited on such Purchase Date) sufficient to pay the aggregate Purchase Price of all the Securities or portions thereof that are to be purchased on that Purchase Date. If a Paying Agent holds, in accordance with the terms hereof, at 1:00 p.m., New York City time, on the applicable Purchase Date, cash sufficient to pay the aggregate Purchase Price of all Securities for which a Purchase Notice has been delivered and not validly withdrawn in accordance with Section 4.2(b), then, on and after such Purchase Date, such Securities shall cease to be outstanding and interest on such Securities shall cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery of such Securities by their Holders to the Paying Agent).

Appears in 1 contract

Samples: Indenture (Unisource Energy Corp)

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Deposit of Purchase Price. (a) Prior to 1:00 p.m.10:00 a.m., New York City time, on the applicable Purchase Date, the Company shall deposit with the Paying Agent (or, or if the Company or a Subsidiary or an Affiliate of the Company either of them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount in of cash (in immediately available funds if deposited on such Purchase DateBusiness Day) sufficient to pay the aggregate Purchase Price of all the Securities or portions thereof that which are to be purchased on that as of such Purchase Date. If a the Paying Agent holds, in accordance with the terms hereof, at 1:00 p.m.10:00 a.m., New York City time, on the applicable Purchase Date, cash sufficient to pay the aggregate Purchase Price of all any Securities for which a Purchase Notice has been delivered tendered and not validly withdrawn in accordance with pursuant to Section 4.2(b), then, on and after such Purchase Date, such Securities shall cease to be outstanding and interest and Additional Interest, if any, on such Securities shall cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery of such Securities). The Company shall publicly announce the Principal Amount of Securities purchased on the applicable Purchase Date on such date or as soon as practicable thereafter, by their publishing a notice containing such information in a newspaper of general circulation in New York, New York or by publishing such information on the Company's website, or through such other public medium that reasonably could be expected to inform Holders to the Paying Agent)of such information.

Appears in 1 contract

Samples: Indenture (Concord Communications Inc)

Deposit of Purchase Price. (a) Prior to 1:00 p.m.10:00 a.m., New York City time, on the applicable Purchase Date, the Company shall deposit with the Paying Agent (or, if the Company or an Affiliate of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount in cash (in immediately available funds if deposited on such Purchase Date) sufficient to pay the aggregate Purchase Price of all the Securities or portions thereof that are to be purchased on that as of such Purchase Date. If a Paying Agent holds, in accordance with the terms hereof, at 1:00 p.m.10:00 a.m., New York City time, time on the applicable Purchase Date, cash sufficient to pay the aggregate Purchase Price of all Securities any Security for which a Purchase Notice has been delivered tendered and not validly withdrawn in accordance with Section 4.2(b), prior to the applicable Purchase Date then, on and immediately after such Purchase Date, such Securities shall cease to be outstanding and interest (including Contingent Interest and Additional Interest, if any) on such Securities shall cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the rights of the Holders Holder in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery of such Securities by their Holders to the Paying AgentSecurities).

Appears in 1 contract

Samples: Indenture (Quanex Corp)

Deposit of Purchase Price. (a) Prior to 1:00 p.m.10:00 a.m., New York City time, on the applicable Purchase Date, the Company shall deposit with the Paying Agent (or, or if the Company or a Subsidiary or an Affiliate of the Company either of them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount in of cash (in immediately available funds if deposited on such Purchase DateBusiness Day) sufficient to pay the aggregate Purchase Price of all the Securities or portions thereof that which are to be purchased on that as of such Purchase Date. If a the Paying Agent holds, in accordance with the terms hereof, at 1:00 p.m.10:00 a.m., New York City time, on the applicable Purchase Date, cash sufficient to pay the aggregate Purchase Price of all any Securities for which a Purchase Notice has been delivered tendered and not validly withdrawn in accordance with pursuant to Section 4.2(b), then, on and after such Purchase Date, such Securities shall cease to be outstanding and interest on such Securities shall cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery or transfer of such Securities by their Holders to the Paying AgentSecurities).

Appears in 1 contract

Samples: Indenture (Komag Inc /De/)

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Deposit of Purchase Price. (a) Prior to 1:00 p.m., 11:00 a.m. (New York City time, ) on the applicable Purchase Date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company or an Affiliate of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.4) an amount in cash of money (in immediately available funds if deposited on such Purchase DateBusiness Day) and/or Common Stock, if permitted hereunder, sufficient to pay the aggregate Purchase Price of all of the Securities or portions thereof that which are to be purchased as of the Purchase Date. The manner in which the deposit required by this Section 12.10 is made by the Company shall be at the option of the Company, PROVIDED, HOWEVER, that such deposit shall be made in a manner such that the Trustee or a Paying Agent shall have immediately available funds on that the Purchase Date. If a Paying Agent holds, in accordance with the terms hereof, at 1:00 p.m., New York City time, on the applicable Purchase Date, cash money and/or Common Stock sufficient to pay the aggregate Purchase Price of all Securities any Security for which a Purchase Notice has been delivered tendered and not validly withdrawn in accordance with Section 4.2(b), this Indenture on the Business Day following the Purchase Date then, on and immediately after such Purchase Date, such Securities shall Security will cease to be outstanding and outstanding, interest on such Securities shall (including Contingent Interest, if any) will cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, accrue and the rights of the Holders Holder in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery of such Securities by their Holders to the Paying Agentas aforesaid).

Appears in 1 contract

Samples: Affiliated Managers Group Inc

Deposit of Purchase Price. (a) Prior to 1:00 p.m.12:00 p.m. (noon), New York City time, on the applicable Purchase Date, the Company shall deposit with the Paying Agent (or, or if the Company or a Subsidiary or an Affiliate of the Company any of them is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.42.04) an amount in cash of Cash (in immediately available funds if deposited on such Purchase DateBusiness Day) sufficient to pay the aggregate Purchase Price of all the Securities or portions thereof that which are to be purchased on that the Purchase Date. If a the Paying Agent (other than the Company or an Affiliate of the Company) holds, in accordance with the terms hereof, at 1:00 p.m., New York City time, on the applicable Purchase Date, cash Cash sufficient to pay the aggregate Purchase Price of all any Securities for which a Purchase Notice has been delivered tendered and not validly withdrawn in accordance with pursuant to Section 4.2(b3.08(b), then, on and after such the Purchase Date, such Securities shall will cease to be outstanding and interest interest, if any (including Additional Interest, if any), on such Securities shall will cease to accrue, whether or not such Securities are delivered by their Holders to the Paying Agent, and the rights of the Holders in respect thereof shall terminate (other than the right to receive the Purchase Price upon delivery of such Securities, together with any necessary endorsement) and the purchased Securities by their Holders to the Paying Agent)shall be cancelled.

Appears in 1 contract

Samples: Indenture (Meritor Inc)

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