Common use of Exercise Mechanics Clause in Contracts

Exercise Mechanics. (a) The Call Option Holder may exercise all (but not less than all) the Call Options by (i) delivering to the Unit Agent and the Collateral Agent, on or prior to the Call Option Settlement Date, a notice, substantially in the form set forth in Annex A attached hereto, stating that the Call Option Holder is exercising its Call Options and specifying the Call Settlement Date therefor (which may not be after the Call Option Expiration Date) and (ii) delivering to the Collateral Agent, by Noon, New York City time, on the Call Settlement Date, the Aggregate Consideration Deliverable on Exercise of the Call Options. (b) Pursuant to the Pledge Agreement, upon receipt by the Collateral Agent of the Aggregate Consideration Deliverable on Exercise of the Call Options in the manner contemplated hereby and by the Pledge Agreement, the Collateral Agent shall transfer the QUIPS or Junior Subordinated Debentures underlying the Normal Units, free and clear of any lien, pledge or security interest created by the Pledge Agreement, to the Call Option Holder or its designee as specified in the notice referred to in Section 3.1(a) above. (c) The Unit Agent shall, not later than three (3) Business Days following the Call Settlement Date, mail notice of the exercise of the Call Options to the Holders in the manner prescribed by the Master Unit Agreement.

Exercise Mechanics. (a) The Call Option Holder may exercise all (but not less than all) the Call Options by (i) delivering to the Unit Agent and the Collateral Agent, on or prior to the Call Option Settlement Expiration Date, a notice, substantially in the form set forth in Annex A attached hereto, stating that the Call Option Holder is exercising its Call Options and specifying the Call Settlement Date therefor (which may not must be after a Business Day falling on or before the Call Option Expiration Date) and (ii) delivering to the Collateral Agent, by Noon, New York City time, on the Call Settlement Date, the Aggregate Consideration Deliverable on Call Option Exercise of the Call OptionsConsideration. (b) Pursuant to the Pledge Agreement, upon receipt by the Collateral Agent of the Aggregate Call Option Exercise Consideration Deliverable on Exercise of the Call Options in the manner contemplated hereby and by the Pledge Agreement, the Collateral Agent shall transfer release the QUIPS Trust Preferred Securities or Junior Subordinated Debentures underlying that form a part of the Normal Units, free and clear of any lien, pledge or security interest created by the Pledge Agreement, and transfer such released Trust Preferred Securities or Junior Subordinated Debentures to the Call Option Holder or its designee as specified in the notice referred to in Section 3.1(a) above. (c) The Unit Agent shall, not later than three (3) Business Days following the Call Settlement Date, mail notice of the exercise of the Call Options to the Holders of Normal Units in the manner prescribed by the Master Unit Agreement.

Exercise Mechanics. (a) The Call Option Holder may exercise all (but not less than all) the Call Options by (i) delivering to the Unit Agent and the Collateral Agent, on or prior to the Call Option Settlement Expiration Date, a notice, substantially in the form set forth in Annex A attached hereto, stating that the Call Option Holder is exercising its Call Options and specifying the Call Settlement Date therefor (which may not must be after a Business Day falling on or before the Call Option Expiration Date) and (ii) delivering to the Collateral Agent, by Noon, New York City time, on the Call Settlement Date, the Aggregate Consideration Deliverable on Call Option Exercise of the Call OptionsConsideration. (b) Pursuant to the Pledge Agreement, upon receipt by the Collateral Agent of the Aggregate Call Option Exercise Consideration Deliverable on Exercise of the Call Options in the manner contemplated hereby and by the Pledge Agreement, the Collateral Agent shall transfer release the QUIPS Trust Preferred Securities or Junior Subordinated Debentures underlying the Normal Units, free and clear of any lien, pledge or security interest created by the Pledge Agreement, and transfer such released Trust Preferred Securities or Junior Subordinated Debentures to the Call Option Holder or its designee as specified in the notice referred to in Section 3.1(a) above. (c) The Unit Agent shall, not later than three (3) Business Days following the Call Settlement Date, mail notice of the exercise of the Call Options to the Holders of Normal Units in the manner prescribed by the Master Unit Agreement.