Common use of Mandatory Purchase of Bonds on Mandatory Purchase Date Clause in Contracts

Mandatory Purchase of Bonds on Mandatory Purchase Date. (a) The Bonds shall be subject to mandatory tender by the Owners thereof for purchase on each Mandatory Purchase Date. (b) Except when the Bonds are subject to mandatory tender on a day immediately following the end of a Calculation Period, the Trustee shall deliver or mail by first class mail a notice in substantially the form of Exhibit “B” attached hereto at least fifteen days prior to the Mandatory Purchase Date to the Owners of the Bonds at the address shown on the registration books of the Issuer. When the Bonds are subject to mandatory tender on the day immediately following the end of a Calculation Period, the Trustee is not required to deliver or mail any notice to the Owners of the Bonds. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(b). (c) Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Mandatory Purchase Date (“Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.01. In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Mandatory Purchase Date) other than the Purchase Price for such Untendered Bonds, and any Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. (d) In the event that the Company exercises its right under Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement to cause a mandatory tender for the purchase of Bonds, the Bonds are also subject to mandatory tender for purchase on the Change of Control Mandatory Purchase Date. The Trustee shall follow the procedures set forth in Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement and shall give notice to the Owners of the Bonds of a mandatory tender at the address shown on the registration books of the Issuer. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(d). Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Change of Control Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Change of Control Mandatory Purchase Date (“Change of Control Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.01(d). In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Change of Control Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Change of Control Mandatory Purchase Date) other than the Purchase Price for such Change of Control Untendered Bonds, and any Change of Control Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. Any Bonds so tendered may be remarketed by a Remarketing Agent appointed pursuant to Section 10.11 hereof with a new Long Term Period and Sub-series designation at the option of the Company.”

Mandatory Purchase of Bonds on Mandatory Purchase Date. (a) The Bonds shall be subject to mandatory tender by the Owners thereof for purchase on each Mandatory Purchase Date. (b) Except when the Bonds are subject to mandatory tender on a day immediately following the end of a Calculation Period, the Trustee shall deliver or mail by first class mail a notice in substantially the form of Exhibit “B” B attached hereto at least fifteen days prior to the Mandatory Purchase Date to the Owners of the Bonds at the address shown on the registration books of the Issuer. When the Bonds are subject to mandatory tender on the day immediately following the end of a Calculation Period, the Trustee is not required to deliver or mail any notice to the Owners of the Bonds. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(b)4.01. (c) Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Mandatory Purchase Date (“Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.01. In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Mandatory Purchase Date) other than the Purchase Price for such Untendered Bonds, and any Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. (d) In the event that the Company exercises its right under Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement to cause a mandatory tender for the purchase of Bonds, the Bonds are also subject to mandatory tender for purchase on the Change of Control Mandatory Purchase Date. The Trustee shall follow the procedures set forth in Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement and shall give notice to the Owners of the Bonds of a mandatory tender at the address shown on the registration books of the Issuer. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(d). Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Change of Control Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Change of Control Mandatory Purchase Date (“Change of Control Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.01(d). In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Change of Control Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Change of Control Mandatory Purchase Date) other than the Purchase Price for such Change of Control Untendered Bonds, and any Change of Control Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. Any Bonds so tendered may be remarketed by a Remarketing Agent appointed pursuant to Section 10.11 hereof with a new Long Term Period and Sub-series designation at the option of the Company.”

Mandatory Purchase of Bonds on Mandatory Purchase Date. (a) The Bonds shall be subject to mandatory tender by the Owners thereof for purchase on each Mandatory Purchase Date. (b) Except when the Bonds are subject to mandatory tender on a day immediately following the end of a Calculation Period, the Trustee shall deliver or mail by first class mail a notice in substantially the form of Exhibit “B” attached hereto at least fifteen days prior to the Mandatory Purchase Date to the Owners of the Bonds at the address shown on the registration books of the Issuer. When the Bonds are subject to mandatory tender on the day immediately following the end of a Calculation Period, the Trustee is not required to deliver or mail any notice to the Owners of the Bonds. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(b)4.01. (c) Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Mandatory Purchase Date (“Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.014. 01. In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Mandatory Purchase Date) other than the Purchase Price for such Untendered Bonds, and any Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. (d) In the event that the Company exercises its right under Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement to cause a mandatory tender for the purchase of Bonds, the Bonds are also subject to mandatory tender for purchase on the Change of Control Mandatory Purchase Date. The Trustee shall follow the procedures set forth in Section 3(f)(8) of Exhibit A to the First Supplemental Lease Agreement and shall give notice to the Owners of the Bonds of a mandatory tender at the address shown on the registration books of the Issuer. Any notice given by the Trustee as provided in this Section shall be conclusively presumed to have been duly given, whether or not the Owner receives the notice. Failure to mail any such notice, or the mailing of defective notice, to any Owner, shall not affect the proceeding for purchase as to any Owner to whom proper notice is mailed. The Trustee shall provide the Company with a copy of any notice delivered to the Owners of the Bonds pursuant to this Section 4.01(d). Owners of Bonds shall be required to tender their Bonds to the Trustee for purchase at the Purchase Price, no later than 10:30 A.M. New York City time on the Change of Control Mandatory Purchase Date, and any such Bonds not so tendered by such time on the Change of Control Mandatory Purchase Date (“Change of Control Untendered Bonds”) shall be deemed to have been purchased pursuant to this Section 4.01(d). In the event of a failure by an Owner of Bonds to tender its Bonds on or prior to the Change of Control Mandatory Purchase Date, said Owner shall not be entitled to any payment (including any interest to accrue subsequent to the Change of Control Mandatory Purchase Date) other than the Purchase Price for such Change of Control Untendered Bonds, and any Change of Control Untendered Bonds shall no longer be entitled to the benefits of this Indenture, except for the purpose of payment of the Purchase Price therefor. Any Bonds so tendered may be remarketed by a Remarketing Agent appointed pursuant to Section 10.11 hereof with a new Long Term Period and Sub-series designation at the option of the Company.”