Common use of PURCHASE AT OPTION OF HOLDER Clause in Contracts

PURCHASE AT OPTION OF HOLDER. Upon the occurrence of a Change of Control of which the Issuer has knowledge, each Holder shall have the right to require the Issuer to purchase all or any part (equal to $1,000 or an integral multiple thereof) of such Holder's Notes pursuant to the offer described below (the "Change of Control Offer") at an offer price in cash equal to 101% of the aggregate principal amount thereof to the date of purchase. Within 30 days after the date as of which the Issuer has knowledge of the occurrence of a Change of Control, the Issuer shall mail a notice to each Holder describing the transaction or transactions that constituted the Change of Control and offering to purchase Notes on the date specified in such notice. The notice shall contain all instructions and information necessary to enable Holders to tender Notes pursuant to the Change of Control Offer, pursuant to the procedures required by the Indenture. Notwithstanding the foregoing provisions, the Issuer shall not be required (i) to make a Change of Control Offer if prior to the date as of which the Issuer would otherwise be required to mail such notice the Issuer has given or caused to be given a notice of redemption of the Notes pursuant to subparagraph (b) of paragraph 6 above or (ii) to purchase Notes pursuant to any such notice of a Change of Control Offer if the Issuer shall redeem the Notes pursuant to such subparagraph. The Issuer shall not be required to make a Change of Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Issuer and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer.