Common use of Effect of Fundamental Change Purchase Notice Clause in Contracts

Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of a Fundamental Change Purchase Notice specified in Section 3.02, the Holder of the Security in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.04) thereafter be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such Security (and subject to Section 3.02(a) any portion of the Fundamental Change Purchase Price representing any previously accrued and unpaid interest on such Security). Such Fundamental Change Purchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent, on the later of (x) the applicable Fundamental Change Purchase Date (provided the conditions in Section 3.02 have been satisfied) and (y) the time of delivery or book-entry transfer of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.02, subject in each case to extensions to comply with applicable law.

Appears in 3 contracts

Samples: PennyMac Mortgage Investment Trust, PennyMac Mortgage Investment Trust, First Supplemental Indenture (PennyMac Mortgage Investment Trust)

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Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of a Fundamental Change Purchase Notice specified in Section 3.023.01 hereof, the Holder of the Security Note in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.043.03 hereof) thereafter be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such Security Note (and subject to Section 3.02(a) any portion of the Fundamental Change Purchase Price representing any previously accrued and unpaid interest on such SecurityNote). Such Fundamental Change Purchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent, on the later of (x) the applicable Fundamental Change Purchase Date (provided the conditions in Section 3.02 3.01 hereof have been satisfied, and subject to extensions to comply with applicable law) and (y) the time of delivery or book-entry transfer of such Security Note to the Paying Agent by the Holder thereof in the manner required by Section 3.02, subject in each case to extensions to comply with applicable law3.01 hereof.

Appears in 2 contracts

Samples: Alpha Natural Resources, Inc., Alpha Natural Resources, Inc.

Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of a Fundamental Change Purchase Notice specified in Section 3.023.03, the Holder of the Security Note in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.043.05) thereafter be entitled to receive solely the Fundamental Change Purchase Price in cash with respect to such Security Note (and subject to Section 3.02(a) any portion of the Fundamental Change Purchase Price representing any previously accrued and unpaid interest on such SecurityNote if not included in the Fundamental Change Purchase Price). Such Fundamental Change Purchase Price shall be paid promptly to such Holder, subject to receipt of funds from the Company by the Paying Agent, on the later of (x) the applicable Fundamental Change Purchase Date (provided the conditions in Section 3.02 this Article 3 have been satisfied) and (y) the time of delivery or book-entry transfer of such Security Note to the Paying Agent by the Holder thereof in the manner required by Section 3.02, subject in each case to extensions to comply with applicable law3.01.

Appears in 1 contract

Samples: Indenture (Golar LNG LTD)

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Effect of Fundamental Change Purchase Notice. Upon receipt by the Paying Agent of a Fundamental Change Purchase Notice specified in Section 3.02, the Holder of the Security in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn in accordance with Section 3.04) thereafter be entitled to receive solely the Fundamental Change Purchase Price in ‑21‑ cash with respect to such Security (and subject to Section 3.02(a) any portion of the Fundamental Change Purchase Price representing any previously accrued and unpaid interest on such Security). Such Fundamental Change Purchase Price shall be paid to such Holder, subject to receipt of funds by the Paying Agent, on the later of (x) the applicable Fundamental Change Purchase Date (provided the conditions in Section 3.02 have been satisfied) and (y) the time of delivery or book-entry transfer of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.02, subject in each case to extensions to comply with applicable law.

Appears in 1 contract

Samples: Supplemental Indenture (PennyMac Mortgage Investment Trust)

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