Common use of Required Purchase of Interests Clause in Contracts

Required Purchase of Interests. If by reason of a Bankruptcy Event with respect to the Contributor, Pledgor or the Company, or any act of a Governmental Authority, (a) any Equity Contribution due hereunder has not been deposited in the Note Redemption Account within five Business Days after the date on which such amount is payable hereunder or (b) any Equity Contribution theretofore deposited pursuant to Article II is rescinded or otherwise restored to the Contributor and five Business Days have elapsed after the date that such Equity Contribution was rescinded or otherwise restored (such Equity Contribution, whether required but not made as provided in clause (a) above or made and returned as provided in clause (b) above, the “Defaulted Payment”), the Contributor shall, without any further notice or demand by the Collateral Agent, purchase the Notes then outstanding from Holders of Notes who submitted a Purchase Notice (the “Purchased Interests”) as provided in the following sentence, in an aggregate principal amount equal to the amount of the Defaulted Payment. The purchase by the Contributor of the Purchased Interests pursuant to this Section 5.1 shall be at par (plus accrued interest) and shall comply with all Governmental Rules and all such Notes so purchased shall be held by the Contributor until such time as it is able to contribute all Notes to the Company for cancellation. The failure of any Holders of Notes to tender its Notes pursuant to the such tender offer shall not result in a Default or Event of Default, and the Contributor’s obligation in any such circumstance shall be to pay any amounts that would otherwise have been paid to non-tendering Holders of the Notes to the Company as promptly as the Contributor is able to do so.

Required Purchase of Interests. If by reason of a Bankruptcy Event with respect to the Contributor, the Pledgor or the Companyany Obligor, or any act of a Governmental Authority, (a) any Equity Contribution due hereunder has not been deposited in the Note Redemption Construction Account within five Business Days after the date on which such amount is payable hereunder or (b) any Equity Contribution theretofore deposited pursuant to Article II is rescinded or otherwise restored to the Contributor and five Business Days have elapsed after the date that such Equity Contribution was rescinded or otherwise restored (such Equity Contribution, whether required but not made as provided in clause (a) above or made and returned as provided in clause (b) above, the “Defaulted Payment”), the Contributor shall, without any further notice or demand by the Collateral Agent, purchase (i) an undivided participating interest in each of the L/C Loans, Letters of Credit and Commitments and (ii) Series A Senior Secured Notes and Additional Senior Secured Notes, in each case, then outstanding from Holders of Notes who submitted a Purchase Notice (the purchased participating interests and notes described in clauses (i) and (ii) above, the “Purchased Interests”) as provided in the following sentence, in an aggregate principal amount equal to the amount of the Defaulted Payment. The Contributor’s purchase of the Purchased Interests shall be made pro rata among the Purchased Interests based on the respective outstanding amounts thereof. The Contributor shall effect its purchase of the Purchased Interests constituting L/C Loans, Letters of Credit and Commitments pursuant to this Section 6.1 in accordance with the relevant procedures set forth in the Reimbursement Agreement. The purchase by the Contributor of the Series A Senior Secured Notes and the Additional Senior Secured Notes constituting the Purchased Interests by the Contributor pursuant to this Section 5.1 6.1 shall be at par (plus accrued interest) and shall comply with all Governmental Rules (including those of the Securities and Exchange Commission in relation to tenders for debt securities), and all such Series A Senior Secured Notes so purchased and Additional Senior Secured Notes shall be held by the Contributor until such time as it is able to contribute all such Series A Senior Secured Notes and Additional Senior Secured Notes to the Company for cancellation. The failure of any Holders holder of Series A Senior Secured Notes or the Additional Senior Secured Notes to tender its Notes pursuant to the such tender offer shall not result in a Default or Event of Default, and the Contributor’s obligation in any such circumstance shall be to pay any amounts that would otherwise have been paid to non-tendering Holders holders of the Series A Senior Secured Notes or Additional Senior Secured Notes to the Company as promptly as the Contributor is able to do so.

Required Purchase of Interests. If by reason of a Bankruptcy Event with respect to the Contributor, Pledgor TPZ Holding or the Company, or any act of a Governmental Authority, (a) any Equity Contribution due hereunder has not been deposited in the Note Redemption Construction Account within five Business Days after the date on which such amount is payable hereunder or (b) any Equity Contribution theretofore deposited pursuant to Article II is rescinded or otherwise restored to the Contributor and five Business Days have elapsed after the date that such Equity Contribution was rescinded or otherwise restored (such Equity Contribution, whether required but not made as provided in clause (a) above or made and returned as provided in clause (b) above, the “Defaulted Payment”), the Contributor shall, without any further notice or demand by the Collateral Agent, purchase (i) an undivided participating interest in each of the L/C Loans, Letters of Credit and Commitments and (ii) Series A Senior Secured Notes and Additional Senior Secured Notes, in each case, then outstanding from Holders of Notes who submitted a Purchase Notice (the purchased participating interests and notes described in clauses (i) and (ii) above, the “Purchased Interests”) as provided in the following sentence, in an aggregate principal amount equal to the amount of the Defaulted Payment. The Contributor's purchase of the Purchased Interests shall be made pro rata among the Purchased Interests based on the respective outstanding amounts thereof. The Contributor shall effect its purchase of the Purchased Interests constituting L/C Loans, Letters of Credit and Commitments pursuant to this Section 6.1 in accordance with the relevant procedures set forth in the Reimbursement Agreement. The purchase by the Contributor of the Series A Senior Secured Notes and the Additional Senior Secured Notes constituting the Purchased Interests by the Contributor pursuant to this Section 5.1 6.1 shall be at par (plus accrued interest) and shall comply with all Governmental Rules (including those of the Securities and Exchange Commission in relation to tenders for debt securities), and all such Series A Senior Secured Notes so purchased and Additional Senior Secured Notes shall be held by the Contributor until such time as it is able to contribute all such Series A Senior Secured Notes and Additional Senior Secured Notes to the Company for cancellation. The failure of any Holders holder of Series A Senior Secured Notes or the Additional Senior Secured Notes to tender its Notes pursuant to the such tender offer shall not result in a Default or Event of Default, and the Contributor’s 's obligation in any such circumstance shall be to pay any amounts that would otherwise have been paid to non-tendering Holders holders of the Series A Senior Secured Notes or Additional Senior Secured Notes to the Company as promptly as the Contributor is able to do so.