Common use of Put Right of Holders Clause in Contracts

Put Right of Holders. If a there has not been a Successful Remarketing prior to February 15, 2009, each Holder of Series A Debentures will have the right to require the Company to purchase all or a portion of its Series A Debentures on such date as described below. Such right will be exercisable only upon delivery of notice to the Trustee (i) for as long as the Series A Debentures are held by the Property Trustee, on or prior to 11:00 A.M., New York City time, on the Business Day immediately prior to February 15, 2009, or (ii) in all other cases, on or prior to 11:00 A.M., New York City time on the second Business Day prior to February 15, 2009. The Company shall purchase such Series A Debentures at a Repayment Price consisting of cash in an amount equal to 100% of the Accreted Principal Amount thereof as of such date, plus a junior subordinated note of the Company (which shall be subordinated and rank junior in right of payment to all of the Company's existing and future Senior Indebtedness), bearing interest at the rate of 4.82% per annum, in the amount of the accrued and unpaid interest (including Additional Interest), if any, to, but excluding such date and payable on August 15, 2010 or, if February 15, 2009 is during a Deferral Period, the fifth anniversary of the first day of such Deferral Period. Settlement of such purchase shall be effected on February 15, 2009. Subject to the foregoing, any such purchase by the Company shall be effected in accordance with Article III of the Base Indenture.

Put Right of Holders. If a there has not been a Successful Remarketing prior to February 15, 2009, each Holder of Series A B Debentures will have the right to require the Company to purchase all or a portion of its Series A B Debentures on such date as described below. Such right will be exercisable only upon delivery of notice to the Trustee (i) for as long as the Series A B Debentures are held by the Property Trustee, on or prior to 11:00 A.M., New York City time, on the Business Day immediately prior to February 15, 2009, or (ii) in all other cases, on or prior to 11:00 A.M., New York City time on the second Business Day prior to February 15, 2009. The Company shall purchase such Series A B Debentures at a Repayment Price consisting of cash in an amount equal to 100% of the Accreted Principal Amount thereof as of such date, plus a junior subordinated note of the Company (which shall be subordinated and rank junior in right of payment to all of the Company's existing and future Senior Indebtedness), bearing interest at the rate of 4.824.91% per annum, in the amount of the accrued and unpaid interest (including Additional Interest), if any, to, but excluding such date and payable on August 15, 2010 or, if February 15, 2009 is during a Deferral Period, the fifth anniversary of the first day of such Deferral Period. Settlement of such purchase shall be effected on February 15, 2009. Subject to the foregoing, any such purchase by the Company shall be effected in accordance with Article III of the Base Indenture.