Common use of Renewed Remarketing Clause in Contracts

Renewed Remarketing. If a Remarketing has occurred pursuant to Section 10.2 that would be a Failed Remarketing pursuant to Section 10.2(e), because the purchase and sale of the Subordinated Notes do not take place on the corresponding Remarketing Settlement Date, and the reason for such failure shall, in the good faith determination of the Remarketing Agent (made after consultation with the Guarantor), result from facts or circumstances that are not due to the action or inaction of the Guarantor, then the provisions of Section 10.2 shall apply to a second remarketing (a "Renewed Remarketing") of the Preferred Securities (or, if applicable, the Subordinated Notes), except that the Expected Reset Date shall be the sixth Business Day following such corresponding Remarketing Settlement Date; provided however that upon the occurrence of a Failed Remarketing pursuant to Section 10.2, only one Renewed Remarketing can occur pursuant to this Section 10.4, and no Renewed Remarketing shall occur after the Final Reset Date.

Appears in 1 contract

Samples: Secondary Purchase Agreement (Ace LTD)

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Renewed Remarketing. If a Remarketing has occurred pursuant to Section 10.2 5 that would be a Failed Remarketing pursuant to Section 10.2(e5(e), because the purchase and sale of the Preferred Securities (or, if Subordinated Notes do shall have been distributed to Holders of the Trust Securities, Subordinated Notes) does not take place on the corresponding Remarketing Settlement Date, and the reason for such failure shall, in the good faith determination of the Remarketing Agent (made after consultation with the GuarantorCompany), result from facts or circumstances that are not due to the action or inaction of the GuarantorCompany, then the provisions of Section 10.2 5 and this Section 7 shall apply to a second any remarketing (each, a "Renewed RemarketingRENEWED REMARKETING") of the Preferred Securities (or, if applicableSubordinated Notes shall have been distributed to Holders of the Trust Securities, the Subordinated Notes), except that the Expected Reset Date shall be the sixth Business Day following such corresponding Remarketing Settlement Date; provided however that upon the occurrence . The provisions of a Failed Remarketing pursuant to Section 10.2, only one Renewed Remarketing can occur pursuant to this Section 10.47 shall apply successively to each Renewed Remarketing, and provided that no Renewed Remarketing shall occur after the Final Reset Date.

Appears in 1 contract

Samples: Remarketing Agreement (Hercules Inc)

Renewed Remarketing. If a Remarketing has occurred pursuant to Section 10.2 5 that would be a Failed Remarketing pursuant to Section 10.2(e), 5 because the purchase and sale of the Subordinated Notes Preferred Securities (or, if applicable, the Senior Notes) do not take place on the corresponding Remarketing Settlement Date, and the reason for such failure shall, in the good faith determination of the Remarketing Agent (made after consultation with the GuarantorSponsor), result from facts or circumstances that are not due to the action or inaction of the GuarantorCompany, then the provisions of Section 10.2 5 shall apply to a second remarketing (a "Renewed Remarketing") of the Preferred Securities (or, if applicable, the Subordinated Senior Notes), except that the Expected Reset Date shall be the sixth Business Day following such corresponding Remarketing Settlement Date; provided however that upon the occurrence of a Failed Remarketing pursuant to Section 10.2, only one Renewed Remarketing can may occur pursuant to this Section 10.47, and no Renewed Remarketing shall occur after the Final Reset Date.

Appears in 1 contract

Samples: Remarketing and Contingent Purchase Agreement (Mutual Risk Management LTD)

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Renewed Remarketing. If a Remarketing has occurred pursuant to Section 10.2 5 that would be a Failed Remarketing pursuant to Section 10.2(e5(e), because the purchase and sale of the Preferred Securities (or, if applicable, the Subordinated Notes Notes) do not take place on the corresponding Remarketing Settlement Date, and the reason for such failure shall, in the good faith determination of the Remarketing Agent (made after consultation with the GuarantorCompany), result from facts or circumstances that are not due to the action or inaction of the GuarantorCompany, then the provisions of Section 10.2 5 shall apply to a second remarketing (a "Renewed Remarketing") of the Preferred Securities (or, if applicable, the Subordinated Notes), except that the Expected Reset Date shall be the sixth Business Day following such corresponding Remarketing Settlement Date; provided however that upon the occurrence of a Failed Remarketing pursuant to Section 10.2, only one Renewed Remarketing can occur pursuant to this Section 10.47, and no Renewed Remarketing shall occur after the Final Reset Date.

Appears in 1 contract

Samples: Remarketing and Contingent Purchase Agreement (Ace LTD)

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