Common use of Purchase of Senior Indebtedness Clause in Contracts

Purchase of Senior Indebtedness. The Senior Indebtedness Representative, on behalf of itself and the Senior Lenders (and, where appropriate with regard to the Eligible Hedge Contracts, their respective Affiliates), and the Borrower hereby agree with the Subordinated Lenders that, if the Senior Indebtedness Representative delivers a Payment Default Notice to the Subordinated Administrative Agent or the Subordinated Lenders, then the Subordinated Lenders may (but shall not be obligated to) purchase the Senior Indebtedness and all of the rights, titles and interests of the Senior Indebtedness Representative and the Senior Lenders under the Senior Loan Documents, by giving notice of Subordinated Lenders' intent to buy within ten days after delivery of such Payment Default Notice and consummating such sale within thirty days after the delivery of such Payment Default Notice for a price in immediately available funds equal to the unpaid principal of and accrued interest on the Senior Indebtedness, all other amounts then due to the Senior Indebtedness Representative and the Senior Lenders under the Senior Loan Documents and all unpaid amounts and termination payments due to the Senior Lenders (and their respective Affiliates, where appropriate) of the Eligible Hedge Contracts, all subject to documents reasonably acceptable to the Senior Indebtedness Representative, the Senior Lenders and the Subordinated Lenders, but without any necessity for any consent from the Borrower or any Guarantor.

Purchase of Senior Indebtedness. The Senior Indebtedness Representative, on behalf of itself and the Senior Lenders Banks (and, where appropriate with regard to the Eligible Hedge ContractsSwap Agreements, their respective Affiliates), and the Borrower Company hereby agree with the Subordinated Lenders Noteholders that, if the Senior Indebtedness Representative delivers a Payment Default Notice to the Subordinated Administrative Agent or the Subordinated LendersNoteholders, then the Subordinated Lenders Noteholders may (but shall not be obligated to) purchase the Senior Indebtedness and all of the rights, titles and interests of the Senior Indebtedness Representative and the Senior Lenders Banks under the Senior Bank Loan Documents, by giving notice of Subordinated Lenders' one or more Noteholders’ intent to buy within ten days after delivery of such Payment Default Notice and consummating such sale within thirty days after the delivery of such Payment Default Notice for a price in immediately available funds equal to the unpaid principal of and accrued interest on the Senior Indebtedness, the cash collateralization amount of outstanding letters of credit under the Bank Loan Agreement at par value plus 5%, all other amounts then due to the Senior Indebtedness Representative and the Senior Lenders Banks under the Senior Bank Loan Documents Agreement and all unpaid amounts and termination Swap Termination Value payments due to the Senior Lenders Banks (and their respective Affiliates, where appropriate) of the Eligible Hedge ContractsSwap Agreements, all subject to documents documentation reasonably acceptable to the Senior Indebtedness Representative, the Senior Lenders Banks and the Subordinated LendersNoteholders, but without any necessity for any consent from the Borrower Company or any Guarantor.

Purchase of Senior Indebtedness. The Senior Indebtedness Representative, on behalf of itself and the Senior Revolving Lenders (and, where appropriate with regard to the Eligible Hedge ContractsSwap Agreements, their respective Affiliates), and the Borrower hereby agree with the Subordinated Term Lenders that, if the Senior Indebtedness Representative delivers a Payment Default Notice to the Subordinated Administrative Agent or the Subordinated Term Lenders, then the Subordinated Term Lenders may (but shall not be obligated to) purchase the Senior Indebtedness and all of the rights, titles and interests of the Senior Indebtedness Representative and the Senior Revolving Lenders under the Senior Loan Revolving Credit Documents, by giving notice of Subordinated Term Lenders' intent to buy within ten days after delivery of such Payment Default Notice and consummating such sale within thirty days after the delivery of such Payment Default Notice for a price in immediately available funds equal to the unpaid principal of and accrued interest on the Senior Indebtedness, all other amounts then due to the Senior Indebtedness Representative and the Senior Revolving Lenders under the Senior Loan Revolving Credit Documents and all unpaid amounts and termination payments due to the Senior Revolving Lenders (and their respective Affiliates, where appropriate) of the Eligible Hedge ContractsSwap Agreements, all subject to documents reasonably acceptable to the Senior Indebtedness Representative, the Senior Revolving Lenders and the Subordinated Term Lenders, but without any necessity for any consent from the Borrower or any Guarantor.

Purchase of Senior Indebtedness. The Senior Indebtedness Representative, on behalf of itself and the Senior Revolving Lenders (and, where appropriate with regard to the Eligible Hedge ContractsSwap Agreements, their respective Affiliates), and the Borrower Company hereby agree agrees with the Subordinated Lenders Holder that, if the Senior Indebtedness Representative delivers a Payment Default Notice to the Subordinated Administrative Agent or the Subordinated LendersHolder, then the Subordinated Lenders Holder may (but shall not be obligated to) purchase the Senior Indebtedness and all of the rights, titles and interests of the Senior Indebtedness Representative and the Senior Revolving Lenders under the Senior Loan Revolving Credit Documents, by giving notice of Subordinated Lenders' Hxxxxx’s intent to buy within ten days after delivery of such Payment Default Notice and consummating such sale within thirty days after the delivery of such Payment Default Notice for a price in immediately available funds equal to the unpaid principal of and accrued interest on the Senior Indebtedness, the cash collateralization amount of outstanding Letters of Credit (as defined in the Senior Revolving Credit Agreement) at par value plus 5%, all other amounts then due to the Senior Indebtedness Representative and the Senior Revolving Lenders under the Senior Loan Revolving Credit Documents and all unpaid amounts and termination Swap Termination Value payments due to the Senior Revolving Lenders (and their respective Affiliates, where appropriate) of the Eligible Hedge ContractsSwap Agreements, all subject to documents documentation reasonably acceptable to the Senior Indebtedness Representative, the Senior Revolving Lenders and the Subordinated LendersHolder, but without any necessity for any consent from the Borrower Company or any Guarantor.