Common use of Mandatory repurchase due to a Put Option Event Clause in Contracts

Mandatory repurchase due to a Put Option Event. (a) Upon the occurrence of a Put Option Event, unless the Issuer has previously or substantially concurrently therewith exercised its Call Option and delivered a redemption notice with respect to all the Outstanding Bonds, each Bondholder will have the right (the “Put Option”) to require that the Issuer purchases all or some of the Bonds held by that Bondholder at a price equal to 101 percent of the Nominal Amount.

Mandatory repurchase due to a Put Option Event. (a) Upon the occurrence of a Put Option Event, unless the Issuer has previously or substantially concurrently therewith exercised its Call Option and delivered a redemption notice with respect to all the Outstanding Bonds, each Bondholder will have the right (the “Put Option”) to require that the Issuer purchases all or some of the Bonds held by that Bondholder at a price equal to 101 percent per cent. of the Nominal Amount.