Common use of Exercise of Put Option; Redemption Clause in Contracts

Exercise of Put Option; Redemption. 3.1 The Custodial Trust agrees that it shall, upon exercise of the put option as provided in Section 3.2, purchase the Radian Securities Preferred Stock from Radian Securities for a purchase price equal to the Preferred Stock Purchase Price, which Preferred Stock Purchase Price shall be payable on the Preferred Stock Payment Date in accordance with Section 4.

Exercise of Put Option; Redemption. 3.1 The Custodial Trust agrees that it shall, upon exercise of the put option by the Company as provided in Section 3.2, purchase all, but not less than all, of the Radian Securities Preferred Stock from Radian Securities the Company for a purchase price equal to the Preferred Stock Purchase Price, which Preferred Stock Purchase Price shall be payable on the Preferred Stock Payment Date in accordance with Section 4.