Common use of Mandatory Tender and Repurchase on Remarketing Date Clause in Contracts

Mandatory Tender and Repurchase on Remarketing Date. On a Business Day not later than five Business Days prior to each Remarketing Date (each, a "Notification Date"), the Remarketing Dealer will notify the Company, the Co-Obligor and the Trustee as to whether it elects to purchase all of the outstanding Securities on such Remarketing Date. If, and only if, the Remarketing Dealer so elects with respect to such Remarketing Date, this Security shall be subject to mandatory tender by the holder hereof to the Remarketing Dealer (or any other securities dealer that may be participating in the remarketing) for purchase and remarketing on such Remarketing Date, upon the terms and subject to the conditions described herein and in the Remarketing Agreement. The purchase price of this Security pursuant to such mandatory tender shall be equal to 100% of its principal amount. Interest accrued to but excluding such Remarketing Date (or the November 15 immediately preceding such Remarketing Date, if such remarketing date is not a November 15), will be paid by the Company or the Co-Obligor to persons in whose names the Securities are registered on the Record Date. No holder or beneficial owner of any Security shall have any rights or claims under the Remarketing Agreement or against the Company, the Co-Obligor or the Remarketing Dealer (or any other securities dealer that may be participating in the remarketing) as a result of the Remarketing Dealer (or any other securities dealer that may be participating in the remarketing) not purchasing such Security.

Mandatory Tender and Repurchase on Remarketing Date. On a Business Day not later than five Business Days prior to each Remarketing Date (each, a "Notification Date"), the Remarketing Dealer will notify the Company, the Co-Obligor and the Trustee as to whether it elects to purchase all of the outstanding Securities on such Remarketing Date. If, and only if, the Remarketing Dealer so elects with respect to such Remarketing Date, this Security shall be subject to mandatory tender by the holder hereof to the Remarketing Dealer (or and/or any other securities dealer or dealers that may be participating in the remarketing) for purchase and remarketing on such Remarketing Date, upon the terms and subject to the conditions described herein and in the Remarketing Agreement. The purchase price of this Security pursuant to such mandatory tender shall be equal to 100% of its principal amount. Interest accrued to but excluding such Remarketing Date (or the November 15 immediately preceding such Remarketing Date, if such remarketing date Remarketing Date is not a November 15, from and including November 15, 2001 to and including November 15, 2003, or the December 1 immediately preceding such Remarketing Date, if such Remarketing Date is not a December 1, from and including December 1, 2004 to and including December 1, 2019), will be paid by the Company or the Co-Obligor to persons in whose names the Securities are registered on the Record Date. No holder or beneficial owner of any Security shall have any rights or claims under the Remarketing Agreement or against the Company, the Co-Obligor or the Remarketing Dealer (or any other securities dealer that may be participating in the remarketing) as a result of the Remarketing Dealer (or any other securities dealer that may be participating in the remarketing) not purchasing such Security.