Common use of Mandatory Purchase Clause in Contracts

Mandatory Purchase. The Bonds are subject to mandatory tender for purchase to the Tender Agent on (a) the Conversion Date and (b) on the date of delivery of a Substitute Letter of Credit (as defined in the Indenture) to the Trustee (the “Substitution Date”), in each case at a purchase price equal to the principal amount thereof plus accrued interest. Any of the Bonds not delivered to the Tender Agent at or before 10:00 a.m., New York City time, on the Conversion Date or the Substitution Date, as the case may be (“Undelivered Bonds”), for which there has been irrevocably deposited in trust with the Trustee or the Tender Agent an amount of money sufficient to pay the purchase price, shall be deemed to have been purchased at such purchase price and interest on such Undelivered Bonds shall cease to accrue as of such Conversion Date or Substitution Date, as the case may be. Thereafter, the Owners of such Undelivered Bonds shall not be entitled to any payment other than payment of the purchase price for such Undelivered Bonds upon surrender thereof to the Tender Agent and such Undelivered Bonds shall no longer be outstanding and entitled to the benefits of the Indenture.

Mandatory Purchase. The Bonds are subject to mandatory tender for purchase to the Tender Agent on (a) the Conversion Date and (b) on the date of delivery of a Substitute Letter of Credit (as defined in the Indenture) to the Trustee (the “Substitution Date”), in each case at a purchase price equal to the principal amount thereof plus accrued interest. Any of the Bonds not delivered to the Tender Agent at or before 10:00 a.m., New York City time, on the Conversion Date or the Substitution Date, as the case may be (“‘Undelivered Bonds”), for which there has been irrevocably deposited in trust with the Trustee or the Tender Agent an amount of money sufficient to pay the purchase price, shall be deemed to have been purchased at such purchase price and interest on such Undelivered Bonds shall cease to accrue as of such Conversion Date or Substitution Date, as the case may be. Thereafter, the Owners of such Undelivered Bonds shall not be entitled to any payment other than payment of the purchase price for such Undelivered Bonds upon surrender thereof to the Tender Agent and such Undelivered Bonds shall no longer be outstanding and entitled to the benefits of the Indenture.

Mandatory Purchase. The Bonds are subject to mandatory tender for purchase to the Tender Agent on (a) the Conversion Date and (b) on the date of delivery of a Substitute Letter of Credit (as defined in the Indenture) to the Trustee (the “Substitution Date”), in each case at a purchase price equal to the principal amount thereof plus accrued interest. Any Airy of the Bonds not delivered to the Tender Agent at or before 10:00 a.m., New York City time, on the Conversion Date or the Substitution Date, as the case may be (“Undelivered Bonds”), for which there has been irrevocably deposited in trust with the Trustee or the Tender Agent an amount of money sufficient to pay the purchase price, shall be deemed to have been purchased at such purchase price and interest on such Undelivered Bonds shall cease to accrue as of such Conversion Date or Substitution Date, as the case may be. Thereafter, the Owners of such Undelivered Bonds shall not be entitled to any payment other than payment of the purchase price for such Undelivered Bonds upon surrender thereof to the Tender Agent and such Undelivered Bonds shall no longer be outstanding and entitled to the benefits of the Indenture.