Initial Remarketing. (a) The Depositor will request, not later than seven nor more than 15 calendar days prior to the Initial Remarketing Date, that the Clearing Agency notify the Holders of the Preferred Securities and the Holders of Corporate Units and Treasury Units of the Initial Remarketing.
(b) Not later than 5:00 P.M., New York City time, on the fifth Business Day immediately preceding the Initial Reset Date (but in no event earlier than the Distribution Date next preceding the Initial Reset Date), each Holder of the Separate Preferred Securities may elect to have Preferred Securities held by such Holder remarketed. Holders of Separate Preferred Securities shall give notice of their election to have such Separate Preferred Securities remarketed to the Custodial Agent and deliver such Separate Preferred Securities to the Custodial Agent pursuant to the Pledge Agreement. Any such notice and delivery shall be irrevocable after 5:00 P.M., New York City time, on the fifth Business Day immediately preceding the Initial Reset Date and may not be conditioned upon the level at which the Reset Rate is established. Under Section 5.02 of the Purchase Contract Agreement, Preferred Securities that constitute components of Corporate Units will be remarketed as provided therein and in this Section 5.13. The Preferred Securities constituting components of Corporate Units shall be deemed tendered, notwithstanding any failure by the Holder of such Corporate Units to deliver or properly deliver such Preferred Securities to the Remarketing Agent for purchase.
(c) The right of each Holder to have Preferred Securities (including any Preferred Securities that constitute components of Corporate Units) tendered for purchase shall be limited to the extent that (i) the Remarketing Agent conducts a Remarketing pursuant to the terms of the Remarketing Agreement, (ii) Preferred Securities tendered have not been called for redemption, (iii) the Remarketing Agent is able to find a purchaser or purchasers for tendered Preferred Securities at a price per Preferred Security such that the aggregate price for the Preferred Securities is not less than 100% of the sum of the Treasury Portfolio Purchase Price, the Separate Preferred Securities Purchase Price and deferred and unpaid Distributions, if any, on the Preferred Securities, and (iv) such purchaser or purchasers deliver the purchase price therefor to the Remarketing Agent as and when required.
(d) On the Initial Remarketing Date, pursuant to the Remark...
Initial Remarketing. Unless a Special Event Redemptions has occurred prior to the Initial Remarketing Date, the Collateral Agent shall, by 11:00 a.m., New York City time, on the Business Day immediately preceding the Initial Remarketing Date, without any instruction from any Holder of Corporate Units, present the related Pledged Senior Notes to the Remarketing Agent for Initial Remarketing. In the event of a Failed Initial Remarketing, the Senior Notes presented to the Remarketing Agent pursuant to this Section 7.03 for Remarketing shall be redeposited into the Collateral Account.
Initial Remarketing. The Collateral Agent shall, by 10:00 a.m., New York City time, on the fourth Business Day immediately preceding ____________, 2003, without any instruction from any Holder of Corporate Units, present the related Pledged Debentures to the Remarketing Agent for remarketing. Upon receiving such Pledged Debentures, the Remarketing Agent, pursuant to the terms of the Remarketing Agreement and the Supplemental Remarketing Agreement, will use its reasonable efforts to remarket such Pledged Debentures on such date at a price of approximately 100.5% (but not less than 100%) of the Treasury Portfolio Purchase Price. After deducting as the Remarketing Fee an amount not exceeding 25 basis points (.25%) of the Treasury Portfolio Purchase Price from any amount of such Proceeds in excess of the Treasury Portfolio Purchase Price, the Remarketing Agent will remit the entire amount of the Proceeds of such remarketing to the Collateral Agent on or prior to 12:00 p.m., New York City time, by check or wire transfer in immediately available funds at such place and at such account as may be designated by the Collateral Agent in exchange for the Pledged Debentures. In the event the Collateral Agent receives such Proceeds, the Collateral Agent will, at the written direction of the Company, apply an amount equal to the Treasury Portfolio Purchase Price to purchase from the Quotation Agent the Treasury Portfolio and promptly remit the remaining portion of such Proceeds to the Purchase Contract Agent for payment to the Holders of Corporate Units. The Collateral Agent shall Transfer the Treasury Portfolio to the Collateral Account to secure the obligation of
Initial Remarketing. In connection with the initial remarketing: (i) within four to six weeks from the date of Closing (or as soon thereafter as is reasonably practicable), Buyer shall use all reasonable efforts to cooperate in good faith with the Remarketing Agent and Seller to effect the remarketing of the IDBs to one or more third parties, including, without limitation, entering into an underwriting agreement on customary terms and conditions, obtaining a rating for the IDBs, assisting in the preparation of an offering memorandum and participating in any sales efforts (including any road shows).
Initial Remarketing. 19 SECTION 6.4 Substitutions.................................................................20 ARTICLE VII
Initial Remarketing. 28 SECTION 4.02.
Initial Remarketing. 19 Section 7.04
Initial Remarketing. Unless a Special Event Redemption has occurred prior to the Initial Remarketing Date, the Collateral Agent shall, by 11:00 a.m., New York City time, on the Business Day immediately preceding the Initial Remarketing Date, without any instruction from any Holder of Corporate Units, present the related Pledged Senior Notes to the Remarketing Agent for Initial Remarketing. Upon receiving such Pledged Senior Notes, the Remarketing Agent, pursuant to the terms of the Remarketing Agreement, will use its reasonable efforts to remarket such Pledged Senior Notes on the Initial Remarketing Date at a price of approximately 100.50% (but not less than 100%) of the sum of the Treasury Portfolio Purchase Price plus the Separate Senior Notes Purchase Price. In the event of a Failed Initial Remarketing, the Senior Notes presented to the Remarketing Agent pursuant to this Section 7.03 for Remarketing shall be redeposited into the Collateral Account.
Initial Remarketing. The following provisions shall apply to the initial remarketing of any Base Product to be remarketed by Seller pursuant to a Remarketing Notice (an “Initial Remarketing”):
Initial Remarketing. 31 SECTION 5.3. PAYMENT OF PURCHASE PRICE......................................................................32 SECTION 5.4. ISSUANCE OF COMMON STOCK.......................................................................35 SECTION 5.5. ADJUSTMENT OF SETTLEMENT RATE..................................................................35 SECTION 5.6.
