Common use of Purchase at the Option of the Holder Upon a Fundamental Change Clause in Contracts

Purchase at the Option of the Holder Upon a Fundamental Change. If a Fundamental Change shall occur at any time prior to July 15, 2008, each Holder shall have the right, at such Holder's option, to require the Issuer to purchase any or all of such Holder's 2023 Notes for cash or a check on the date that is no earlier than 60 days nor later than 90 days after the date of the Issuer Notice of the occurrence of such Fundamental Change (subject to extension to comply with applicable law, as provided in Section 5.04) (the "Fundamental Change Purchase Date"). The 2023 Notes shall be repurchased in integral multiples of $1,000 of the principal amount. The Issuer shall purchase such 2023 Notes at a price (the "Fundamental Change Purchase Price") equal to 100% of the principal amount of the Notes to be purchased plus accrued and unpaid interest, including Additional Amounts, if any, to the Fundamental Change Purchase Date. No 2023 Notes may be purchased at the option of the Holders upon a Fundamental Change if there has occurred and is continuing an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Purchase Price of the 2023 Notes).

Appears in 5 contracts

Samples: Supplemental Indenture (CMS Energy Corp), Sixteenth Supplemental Indenture (CMS Energy Corp), Sixteenth Supplemental Indenture (CMS Energy Corp)

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Purchase at the Option of the Holder Upon a Fundamental Change. If a Fundamental Change shall occur at any time prior to July 15December 1, 20082011, each Holder shall have the right, at such Holder's ’s option, to require the Issuer to purchase any or all of such Holder's 2023 ’s 2024 Notes for cash or a check on the date that is no earlier than 60 days nor later than 90 days after the date of the Issuer Notice of the occurrence of such Fundamental Change (subject to extension to comply with applicable law, as provided in Section 5.04) (the "Fundamental Change Purchase Date"). The 2023 2024 Notes shall be repurchased in integral multiples of $1,000 of the principal amount. The Issuer shall purchase such 2023 2024 Notes at a price (the "Fundamental Change Purchase Price") equal to 100% of the principal amount of the Notes to be purchased plus accrued and unpaid interest, including Additional Amounts, if any, to the Fundamental Change Purchase Date. No 2023 2024 Notes may be purchased at the option of the Holders upon a Fundamental Change if there has occurred and is continuing an Event of Default (other than an Event of Default that is cured by the payment of the Fundamental Change Purchase Price of the 2023 2024 Notes).

Appears in 1 contract

Samples: Indenture (CMS Energy Corp)

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