Examples of Change of Control Put Option in a sentence
The Issuer shall redeem or at the option of the Issuer purchase (or procure the purchase of) each Note in respect of which a Change of Control Put Option Receipt has been issued on the date (the “Optional Change of Control Redemption Date”) which is the seventh Payment Day after the last day of the Change of Control Put Period.
If a Change of Control Put Option is specified in the relevant Final Terms as being applicable and a Change of Control (as defined below) occurs and, during the Change of Control Period, a Rating Downgrade occurs (together, a Put Event), the holder of any such Note will have the option (the Change of Control Put Option) to require the Issuer to redeem or, at the Issuer’s option, to procure the purchase of such Notes on the Optional Redemption Date at the Change of Control Redemption Amount.
Promptly upon the Issuer becoming aware that a Change of Control Put Event has occurred, the Issuer shall give notice (a “Change of Control Put Event Notice”) to the Noteholders in accordance with Condition 14 specifying the nature of the Change of Control Put Event and the procedure for exercising the Change of Control Put Option.
The settlement date for the Change of Control Put Option will be 20 Business Days after the end of the Put Period.
The Issuer shall redeem or, at the option of the Issuer, procure the purchase of the relevant Notes in respect of which the Change of Control Put Option has been validly exercised as provided above, and subject to the transfer of such Notes to the account of the Issuing and Paying Agent for the account of the Issuer as described above on the Optional Redemption Date which is specified in the relevant Final Terms.