Mandatory Tender in Exchange Offer Sample Clauses
A Mandatory Tender in Exchange Offer clause requires certain holders of securities to submit, or "tender," their securities for exchange when an exchange offer is made. Typically, this applies to bondholders or shareholders who are obligated to participate if specific conditions are met, such as approval by a majority or a triggering event outlined in the agreement. The core function of this clause is to ensure broad participation in the exchange offer, thereby facilitating the issuer's ability to restructure debt or equity efficiently and preventing holdouts that could undermine the transaction.
Mandatory Tender in Exchange Offer. The Junior Subordinated Debentures will not be convertible into any other securities or property of the Company. The Junior Subordinated Debentures may not be exchanged for Securities of any other series, except that if the Company effects an exchange offer pursuant to Section 2(a) of the Debenture Exchange and Registration Rights Agreement and, if pursuant to such exchange offer, the Company offers to exchange any Private Debentures for Exchange Debentures, then, to the extent permitted by law, each holder of the Private Debentures shall be obligated to tender all the Private Debentures held by such holder in exchange for a like principal amount of the Exchange Debentures in accordance with the Company's instructions.
Mandatory Tender in Exchange Offer. The Junior Subordinated Debentures will not be convertible into any other securities or property of the Company. The Junior Subordinated Debentures may not be exchanged for Securities of any other series, except that if the Company effects an exchange offer pursuant to Section 2(a) of the Exchange and Registration Rights Agreement and, if pursuant to such exchange offer, the Company offers to exchange any Private Debentures for Exchange Debentures, and the Property Trustee is the only registered holder of the Junior Subordinated Debentures at such time, then, to the extent permitted by law, each holder of the Private Debentures shall be obligated to tender all the Private Debentures held by such holder in exchange for a like principal amount of the Exchange Debentures in accordance with the Company's instructions.