Common use of Transfer of Notes to be Exchanged to a Third Party for Settlement Clause in Contracts

Transfer of Notes to be Exchanged to a Third Party for Settlement. When a Holder surrenders its Notes for exchange, the Company may, at its election (a “Third-Party Exchange Election”), direct the Exchange Agent to deliver, on or prior to the first (1st) Trading Day following the Exchange Date, such Notes to a financial institution designated by the Company for settlement in lieu of exchange. In order to accept any Notes surrendered for exchange, the designated financial institution must agree to timely pay and/or deliver, in exchange for such Notes, the applicable Exchange Obligation. If the Company makes a Third-Party Exchange Election, the Company shall, by the close of business on the first (1st) Trading Day following the relevant Exchange Date, notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Notes for exchange that it has made the Third-Party Exchange Election, and the Company shall promptly notify the designated financial institution of the settlement method with respect to such exchange and the relevant deadline for payment and/or delivery of the Exchange Obligation. Any Notes transferred to the designated financial institution shall remain outstanding. If the designated financial institution agrees to accept any Notes for settlement but does not timely pay and/or deliver the required Exchange Obligation, or if such designated financial institution does not accept the Notes for settlement, the Company shall notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Notes for exchange, and pay and/or deliver the required Exchange Obligation, to the exchanging Holder at the time and in the manner required under this Indenture as if the Company had not made a Third-Party Exchange Election. The Company’s designation of a financial institution to which the Notes may be submitted for settlement does not require that financial institution to accept any Notes (unless the financial institution has separately made an agreement with the Company). The Company may, but shall not be obligated to, enter into a separate agreement with any designated financial institution that would compensate it for any such transaction.

Transfer of Notes to be Exchanged to a Third Party for Settlement. (a) When a Holder surrenders its Second Lien Exchangeable Notes for exchange, the Company may, at its election (a “Third-Party Exchange Election”), direct the Exchange Agent to deliver, on or prior to the first (1st) Trading Day following the Exchange Date, such Second Lien Exchangeable Notes to a financial institution designated by the Company for settlement in lieu of exchange. In order to accept any Second Lien Exchangeable Notes surrendered for exchange, the designated financial institution must agree to timely pay and/or deliver, in exchange for such Second Lien Exchangeable Notes, the applicable Exchange Obligationexchange obligation. If the Company makes a Third-Party Exchange Election, the Company shall, by before the close of business on the first (1st) Trading Day following the relevant Exchange Date, notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Second Lien Exchangeable Notes for exchange that it has made the Third-Party Exchange Election, and the Company shall promptly notify the designated financial institution of the settlement method with respect to such exchange and the relevant deadline for payment and/or delivery of the Exchange Obligation. exchange obligation. (b) Any Second Lien Exchangeable Notes transferred delivered to the designated financial institution shall remain outstanding. If the designated financial institution agrees to accept any Second Lien Exchangeable Notes for settlement but does not timely pay and/or deliver the required Exchange Obligationexchange obligation, or if such designated financial institution does not accept the Second Lien Exchangeable Notes for settlement, the Company shall notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Second Lien Exchangeable Notes for exchange, and pay and/or deliver the required Exchange Obligationexchange obligation, to the exchanging Holder at the time and in the manner required under this Second Lien Exchangeable Notes Indenture as if the Company had not made a Third-Party Exchange Election. . (c) The Company’s designation of a financial institution to which the Second Lien Exchangeable Notes may be submitted for settlement does not require that financial institution to accept any Second Lien Exchangeable Notes (unless the financial institution has separately made an agreement with the Company). The Company may, but shall not be obligated to, to enter into a separate agreement with any designated financial institution that would compensate it for any such transactiontransaction and the Trustee and Exchange Agent shall have no liability or responsibility to any designated financial institution or in connection with any Third Lien Exchangeable Notes transferred or to be transferred to any third party designated financial institution.

Transfer of Notes to be Exchanged to a Third Party for Settlement. (a) When a Holder surrenders its Third Lien Exchangeable Notes for exchange, the Company may, at its election (a “Third-Party Exchange Election”), direct the Exchange Agent to deliver, on or prior to the first (1st) Trading Day following the Exchange Date, such Third Lien Exchangeable Notes to a financial institution designated by the Company for settlement in lieu of exchange. In order to accept any Third Lien Exchangeable Notes surrendered for exchange, the designated financial institution must agree to timely pay and/or deliver, in exchange for such Third Lien Exchangeable Notes, the applicable Exchange Obligationexchange obligation. If the Company makes a Third-Party Exchange Election, the Company shall, by before the close of business on the first (1st) Trading Day following the relevant Exchange Date, notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Third Lien Exchangeable Notes for exchange that it has made the Third-Party Exchange Election, and the Company shall promptly notify the designated financial institution of the settlement method with respect to such exchange and the relevant deadline for payment and/or delivery of the Exchange Obligation. exchange obligation. (b) Any Third Lien Exchangeable Notes transferred delivered to the designated financial institution shall remain outstanding. If the designated financial institution agrees to accept any Third Lien Exchangeable Notes for settlement but does not timely pay and/or deliver the required Exchange Obligationexchange obligation, or if such designated financial institution does not accept the Third Lien Exchangeable Notes for settlement, the Company shall notify in writing the Trustee, the Exchange Agent and the Holder surrendering its Third Lien Exchangeable Notes for exchange, and pay and/or deliver the required Exchange Obligationexchange obligation, to the exchanging Holder at the time and in the manner required under this Third Lien Exchangeable Notes Indenture as if the Company had not made a Third-Party Exchange Election. . (c) The Company’s designation of a financial institution to which the Third Lien Exchangeable Notes may be submitted for settlement does not require that financial institution to accept any Third Lien Exchangeable Notes (unless the financial institution has separately made an agreement with the Company). The Company may, but shall not be obligated to, to enter into a separate agreement with any designated financial institution that would compensate it for any such transactiontransaction and the Trustee and Exchange Agent shall have no liability or responsibility to any designated financial institution or in connection with any Third Lien Exchangeable Notes transferred or to be transferred to any third party designated financial institution.