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. BY ACCEPTANCE OF THIS BOND, THE HOLDER HEREOF AGREES THAT THIS BOND WILL BE PURCHASED, WHETHER OR NOT SURRENDERED, ON ANY PURCHASE DATE SPECIFIED BY THE HOLDER HEREOF IN THE EXERCISE OF THE DEMAND PURCHASE OPTION DESCRIBED ABOVE AND ON THE CONVERSION DATE OR SUBSTITUTION DATE, AS APPLICABLE, IN CONNECTION WITH ANY MANDATORY TENDER FOR PURCHASE. IN SUCH EVENT, THE HOLDER OF THIS BOND SHALL NOT BE ENTITLED TO RECEIVE FURTHER INTEREST HEREON, SHALL HAVE NO FURTHER RIGHTS UNDER THIS BOND OR THE INDENTURE EXCEPT FOR PAYMENT OF THE PURCHASE PRICE HELD THEREFOR, AND, IF THIS BOND IS NOT SURRENDERED ON SUCH DATE, SHALL THEREAFTER HOLD THIS BOND AS AGENT FOR THE TENDER AGENT.

Mandatory Purchase. The Bonds are This Certificate (i) shall be subject to mandatory tender for purchase to the Tender Agent on (a) the each 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 Principal Amount of the Bonds not delivered Certificate on the Purchase Date; (ii) shall be subject to mandatory purchase upon Swap Provider Default (but only if the Liquidity Facility is in effect in accordance with its terms), upon replacement of the Swap Agreement with an Alternate Swap Agreement, at a purchase price equal to the Tender Agent Purchase Price (as defined in the Trust Agreement); (iii) shall be purchased or deemed purchased upon termination or expiration of the term of the Liquidity Facility, as provided in the Trust Agreement, if the Liquidity Facility shall not have been renewed or replaced by an Alternate Liquidity Facility at least ten Business Days prior to such termination or before 10:00 a.m.expiration, New York City timeor if the Trustee has not received the Rating Confirmation Notice (as defined in the Trust Agreement) required by Section 9.4(b) of the Trust Agreement on the fifth Business Day next preceding any such termination or expiration of the Liquidity Facility, at a purchase price equal to the Principal Amount hereof plus Interest, if any, which would have been distributable hereon to the Purchase Date if such date were a Certificate Interest Payment Date; and (iv) shall be subject to mandatory purchase at a price equal to the Principal Amount of this Certificate on the last day of each Flex Rate Period. Notice of Conversion Dates. A Notice of Conversion of Interest Rate Mode will be sent by the Trustee to the Certificateholder by first-class mail, postage prepaid, at least 15 days but not less than 10 days prior to the Conversion Date, stating that the Interest Rate Mode will be converted and what the new Interest Rate Mode will be and, if the Conversion is to the Flex Rate Mode, the end of the Flex Rate period; the Conversion Date; the Certificate Interest Payment Date and Record Date; the maximum rate of interest available under the Liquidity Facility; and that the Certificate will be subject to mandatory purchase on the Conversion Date or the Substitution Date, as the case may be (“Undelivered Bonds”), for which there has been irrevocably deposited in trust accordance 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. BY ACCEPTANCE OF THIS BOND, THE HOLDER HEREOF AGREES THAT THIS BOND WILL BE PURCHASED, WHETHER OR NOT SURRENDERED, ON ANY PURCHASE DATE SPECIFIED BY THE HOLDER HEREOF IN THE EXERCISE OF THE DEMAND PURCHASE OPTION DESCRIBED ABOVE AND ON THE CONVERSION DATE OR SUBSTITUTION DATE, AS APPLICABLE, IN CONNECTION WITH ANY MANDATORY TENDER FOR PURCHASE. IN SUCH EVENT, THE HOLDER OF THIS BOND SHALL NOT BE ENTITLED TO RECEIVE FURTHER INTEREST HEREON, SHALL HAVE NO FURTHER RIGHTS UNDER THIS BOND OR THE INDENTURE EXCEPT FOR PAYMENT OF THE PURCHASE PRICE HELD THEREFOR, AND, IF THIS BOND IS NOT SURRENDERED ON SUCH DATE, SHALL THEREAFTER HOLD THIS BOND AS AGENT FOR THE TENDER AGENTTrust Agreement.

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. BY ACCEPTANCE OF THIS BOND, THE HOLDER HEREOF AGREES THAT THIS BOND WILL BE PURCHASED, WHETHER OR NOT SURRENDERED, ON ANY PURCHASE DATE SPECIFIED BY THE HOLDER HEREOF IN THE EXERCISE OF THE DEMAND PURCHASE OPTION DESCRIBED ABOVE AND ON THE CONVERSION DATE OR SUBSTITUTION DATE, AS APPLICABLE, IN CONNECTION WITH ANY MANDATORY TENDER FOR PURCHASE. IN SUCH EVENT, THE HOLDER OF THIS BOND SHALL NOT BE ENTITLED TO RECEIVE FURTHER INTEREST HEREON, SHALL HAVE NO FURTHER RIGHTS UNDER THIS BOND OR THE INDENTURE EXCEPT FOR PAYMENT OF THE PURCHASE PRICE HELD THEREFOR, AND, IF THIS BOND IS NOT SURRENDERED ON SUCH DATE, SHALL THEREAFTER HOLD THIS BOND AS AGENT FOR THE TENDER AGENT.

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. BY ACCEPTANCE OF THIS BOND, THE HOLDER HEREOF AGREES THAT THIS BOND WILL BE PURCHASED, WHETHER OR NOT SURRENDERED, ON ANY PURCHASE DATE SPECIFIED BY THE HOLDER HEREOF IN THE EXERCISE OF THE DEMAND PURCHASE OPTION DESCRIBED ABOVE AND ON THE CONVERSION DATE OR SUBSTITUTION DATE, AS APPLICABLE, IN CONNECTION WITH ANY MANDATORY TENDER FOR PURCHASE. IN SUCH EVENT, THE HOLDER OF THIS BOND SHALL NOT BE ENTITLED TO RECEIVE FURTHER INTEREST HEREON, SHALL HAVE NO FURTHER RIGHTS UNDER THIS BOND OR THE INDENTURE EXCEPT FOR PAYMENT OF THE PURCHASE PRICE HELD THEREFOR, AND, IF THIS BOND IS NOT SURRENDERED ON SUCH DATE, SHALL THEREAFTER HOLD THIS BOND AS AGENT FOR THE TENDER AGENT. REDEMPTION PROVISIONS Extraordinary Redemption, The Bonds are callable for redemption in the event (1) the Project Facilities (as defined in the Indenture) or any portion thereof is damaged or destroyed or taken in a condemnation proceeding or a deed of all or any part thereof is given in lieu of condemnation, as provided in Section 6.04 of the Loan Agreement, or (2) the Company shall exercise its option to cause the Bonds to be redeemed for any reason as provided in Section 9.02 of the Loan Agreement. If called for redemption at any time pursuant to (1) or (2) above, the Bonds shall be subject to redemption by the Authority on any Interest Payment Date, in whole or in part, at a redemption price of one hundred percent (100%) of the principal amount thereof plus accrued interest to the redemption date.