Mandatory Tender on Mode Change Dates. 2017 Series B-1 Bonds to be changed from one Mode to another Mode are subject to mandatory purchase on the Mode Change Date (or on the day which would have been a Mode Change Date had all the conditions described in subsection (a) of Section 2.10 hereof been satisfied by the proposed Mode Change Date), at the Purchase Price as provided in this Section 7.2. Xxxxx purchased pursuant to this Section 7.2 shall be delivered by the Owners (with all necessary endorsements) to the office of the Paying Agent in Salt Lake City, Utah, at or before 12:00 noon, New York City time, on the proposed Mode Change Date and payment of the Purchase Price shall be made by wire transfer of immediately available funds by the close of business on such date. The Trustee shall give notice of such mandatory purchase by first-class mail, or transmitted in such other manner (such as by Electronic Means) as may be customary for the industry as directed in writing by the Authority, to the Owners of the Bonds subject to mandatory purchase, with a copy to the MSRB, no less than 15 days prior to the Mandatory Purchase Date. The notice shall state the Mandatory Purchase Date, the Purchase Price, the numbers of the 2017 Series B-1 Bonds to be purchased if less than all of the 2017 Series B-1 Bonds owned by such Owner are to be purchased and that interest on 2017 Series B-1 Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date. The failure to transmit such notice with respect to any 2017 Series B-1 Bond shall not affect the validity of the mandatory purchase of any other 2017 Series B-1 Bond with respect to which notice was so transmitted. Any notice transmitted as aforesaid will be conclusively presumed to have been given, whether or not actually received by any Owner.
