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

Effect of Fundamental Change Repurchase Notice. (a) Upon receipt by the Paying Agent of the Fundamental Change Repurchase Notice specified in Section 3.02, the Holder of the Security in respect of which such Fundamental Change Repurchase Notice was given shall (unless such Fundamental Change Repurchase Notice is withdrawn as specified in Section 3.03(b)) thereafter be entitled solely to receive the Fundamental Change Repurchase Price with respect to such Security whether or not the Security is, in fact, properly delivered. Such Fundamental Change Repurchase Price shall be paid to such Holder, subject to receipt of funds and/or securities by the Paying Agent, promptly following the later of (x) the Business Day following the Fundamental Change Repurchase Date with respect to such Security (provided the conditions in Section 3.02 have been satisfied) and (y) the time of delivery of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.02. Securities in respect of which a Fundamental Change Repurchase Notice has been given by the Holder thereof may not be converted pursuant to and to the extent permitted by Article 10 hereof on or after the date of the delivery of such Fundamental Change Repurchase Notice unless such Fundamental Change Repurchase Notice has first been validly withdrawn as specified in Section 3.03(b).

Appears in 2 contracts

Samples: Indenture (Parker Drilling Co /De/), Indenture (Charming Shoppes Inc)

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Effect of Fundamental Change Repurchase Notice. (a) Upon receipt by the Paying Agent of the Fundamental Change Repurchase Notice specified in Section 3.023.09(a)(iii), the Holder of the Security in respect of which such Fundamental Change Repurchase Notice was given shall (unless such Fundamental Change Repurchase Notice is withdrawn as specified in Section 3.03(b)the following paragraph) thereafter be entitled solely to receive solely the Fundamental Change Repurchase Price with respect to such Security whether or not the Security is, in fact, properly deliveredSecurity. Such Fundamental Change Repurchase Price shall be paid to such Holder, subject to receipt of funds and/or securities Cash by the Paying Agent, promptly following on the later of (x1) the Business Day following the Fundamental Change Repurchase Date with respect to such Security (provided the conditions in Section 3.02 3.09(a)(iii) have been satisfied) and (y2) the time of book-entry transfer or delivery of such Security to the Paying Agent by the Holder thereof in the manner required by Section 3.023.09(a)(iii). Securities in respect of which a Fundamental Change Repurchase Notice has been given by the Holder thereof may not be converted pursuant to and to the extent permitted by Article 10 hereof 4 on or after the date of the delivery of such Fundamental Change Repurchase Notice unless such Fundamental Change Repurchase Notice has first been validly withdrawn as specified in Section 3.03(b)the following paragraph.

Appears in 1 contract

Samples: Indenture (Arvinmeritor Inc)

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Effect of Fundamental Change Repurchase Notice. (a) Upon receipt by the any Paying Agent of the a properly completed Fundamental Change Repurchase Notice specified in Section 3.02from a Holder, the Holder of the Security in respect of which such Fundamental Change Repurchase Notice was given shall (unless such Fundamental Change Repurchase Notice is withdrawn as specified in Section 3.03(b3.09(b)) thereafter be entitled solely to receive the Fundamental Change Repurchase Price with respect to such Security whether or not the Security is, in fact, properly deliveredSecurity. Such Fundamental Change Repurchase Price shall be paid to such Holder, subject to receipt of funds and/or securities by the Paying Agent, Holder promptly following the later of (x1) the Business Day following the Fundamental Change Repurchase Date with respect to such Security (provided that the conditions in Section 3.02 3.08(g) have been satisfied) and (y2) the time of delivery of such Security to the a Paying Agent by the Holder thereof in the manner required by Section 3.023.08(g). Securities in respect of which a Fundamental Change Repurchase Notice has been given by the Holder thereof may not be converted into shares of Common Stock pursuant to and to the extent permitted by Article 10 hereof 4 on or after the date of the delivery of such Fundamental Change Repurchase Notice unless such Fundamental Change Repurchase Notice has first been validly withdrawn as specified in accordance with Section 3.03(b)3.09(b) with respect to the Securities to be converted.

Appears in 1 contract

Samples: Indenture (Thoratec Corp)

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