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The Indenture provides that, under certain circumstances, the Parent shall, or shall cause the Company to, use the Excess Proceeds from Asset Sales to make an offer to all Holders to purchase Securities at an offer price in cash in an amount not less than 100% of the principal amount thereof, plus accrued and unpaid interest.", "size": 9, "snippet_links": [{"key": "upon-a-change-of-control", "type": "clause", "offset": [0, 24]}, {"key": "holder-of-securities", "type": "clause", "offset": [31, 51]}, {"key": "right-to", "type": "definition", "offset": [67, 75]}, {"key": "the-company", "type": "definition", "offset": [84, 95]}, {"key": "the-securities", "type": "clause", "offset": [129, 143]}, {"key": "repurchase-price", "type": "definition", "offset": [164, 180]}, {"key": "equal-to", "type": "definition", "offset": [181, 189]}, {"key": "the-principal-amount", "type": "definition", "offset": [198, 218]}, {"key": "accrued-interest", "type": "clause", "offset": [260, 276]}, {"key": "date-of", "type": "clause", "offset": [284, 291]}, {"key": "holders-of-record", "type": "clause", "offset": [328, 345]}, {"key": "relevant-record-date", "type": "definition", "offset": [353, 373]}, {"key": "to-receive", "type": "definition", "offset": [374, 384]}, {"key": "interest-due", "type": "definition", "offset": [385, 397]}, {"key": "interest-payment-date", "type": "clause", "offset": [413, 434]}, {"key": "terms-of", "type": "clause", "offset": [471, 479]}, {"key": "the-indenture", "type": "clause", "offset": [481, 494]}, {"key": "certain-circumstances", "type": "clause", "offset": [531, 552]}, {"key": "the-parent", "type": "clause", "offset": [554, 564]}, {"key": "excess-proceeds", "type": "clause", "offset": [611, 626]}, {"key": "asset-sales", "type": "definition", "offset": [632, 643]}, {"key": "purchase-securities", "type": "definition", "offset": [679, 698]}, {"key": "offer-price", "type": "clause", "offset": [705, 716]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [795, 822]}], "hash": "b35dadac563d7b97d2bba531e5ec3112", "id": 9}, {"samples": [{"hash": "3E4rbeunWHv", "uri": "/contracts/3E4rbeunWHv#put-provisions", "label": "Indenture (Century Communities, Inc.)", "score": 30.3880901337, "published": true}, {"hash": "aBsspYVtauY", "uri": "/contracts/aBsspYVtauY#put-provisions", "label": "Indenture (Century Communities, Inc.)", "score": 28.3593425751, "published": true}, {"hash": "bYtTFJpcdA7", "uri": "/contracts/bYtTFJpcdA7#put-provisions", "label": "Sixth Supplemental Indenture (Century Communities, Inc.)", "score": 26.0691299438, "published": true}], "snippet": "Upon the occurrence of a Change of Control, each Holder of Securities shall have the right, subject to certain conditions specified in the Indenture, to require the Issuer to repurchase all or any part of the Securities of such Holder at a repurchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of holders of record on the relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture. The Indenture provides that, under certain circumstances, the Issuer shall use the Excess Proceeds from Asset Sales to make an offer to all Holders to purchase Securities at an offer price in cash in an amount not less than 100% of the principal amount thereof, plus accrued and unpaid interest.", "size": 6, "snippet_links": [{"key": "occurrence-of-a-change-of-control", "type": "clause", "offset": [9, 42]}, {"key": "holder-of-securities", "type": "clause", "offset": [49, 69]}, {"key": "the-right", "type": "clause", "offset": [81, 90]}, {"key": "certain-conditions", "type": "clause", "offset": [103, 121]}, {"key": "the-indenture", "type": "clause", "offset": [135, 148]}, {"key": "the-issuer", "type": "clause", "offset": [161, 171]}, {"key": "the-securities", "type": "clause", "offset": [205, 219]}, {"key": "repurchase-price", "type": "definition", "offset": [240, 256]}, {"key": "equal-to", "type": "definition", "offset": [257, 265]}, {"key": "the-principal-amount", "type": "definition", "offset": [274, 294]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [336, 363]}, {"key": "date-of", "type": "clause", "offset": [380, 387]}, {"key": "holders-of-record", "type": "clause", "offset": [424, 441]}, {"key": "relevant-record-date", "type": "definition", "offset": [449, 469]}, {"key": "to-receive", "type": "definition", "offset": [470, 480]}, {"key": "interest-due", "type": "definition", "offset": [481, 493]}, {"key": "interest-payment-date", "type": "clause", "offset": [509, 530]}, {"key": "terms-of", "type": "clause", "offset": [567, 575]}, {"key": "certain-circumstances", "type": "clause", "offset": [627, 648]}, {"key": "excess-proceeds", "type": "clause", "offset": [675, 690]}, {"key": "asset-sales", "type": "definition", "offset": [696, 707]}, {"key": "purchase-securities", "type": "definition", "offset": [743, 762]}, {"key": "offer-price", "type": "clause", "offset": [769, 780]}], "hash": "7a46f8eac7f9d8198c854f86a5f7f18b", "id": 10}], "next_curs": "ClcSUWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhdwdXQtcHJvdmlzaW9ucyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"parents": [["miscellaneous", "Miscellaneous"], ["table-of-contents-headings", "Table of Contents; Headings"], ["governing-law", "Governing Law"], ["certificated-securities", "Certificated Securities"], ["severability", "Severability"]], "size": 417, "children": [["", ""], ["put-right", "Put Right"], ["repurchase-price", "Repurchase Price"], ["continuing-obligation", "Continuing  Obligation"], ["put-date", "Put  Date"]], "title": "Put Provisions", "id": "put-provisions", "related": [["buyout-provisions", "Buyout Provisions", "Buyout Provisions"], ["callout-provisions", "Callout Provisions", "Callout Provisions"], ["agreement-provisions", "Agreement Provisions", "Agreement Provisions"], ["payment-provisions", "Payment Provisions", "Payment Provisions"], ["lock-up-provisions", "Lock-Up Provisions", "Lock-Up Provisions"]], "related_snippets": [], "updated": "2025-11-15T05:42:25+00:00", "also_ask": ["What are the most negotiable terms in a put provision from both buyer and seller perspectives?", "Which drafting elements are essential to ensure the put provision is enforceable and unambiguous?", "What are the primary legal risks or loopholes that could undermine the effectiveness of a put provision?", "How do put provisions differ across common law and civil law jurisdictions?", "What factors do courts consider when determining the enforceability of a put provision in disputes?"], "drafting_tip": "Specify triggering events, set clear timelines, and define pricing mechanisms to ensure certainty, prevent disputes, and facilitate enforceability.", "explanation": "A Put Provision is a contractual clause that grants one party, typically an investor or bondholder, the right to require the issuer or counterparty to repurchase or redeem the security at a specified price before its maturity date. In practice, this means that if certain conditions are met\u2014such as a change in control, credit downgrade, or at predetermined intervals\u2014the holder can \"put\" the security back to the issuer for cash. This clause provides the holder with flexibility and protection against unfavorable changes, effectively mitigating risk by ensuring they have an exit option if circumstances change."}, "json": true, "cursor": ""}}