Special Mandatory Purchase definition

Special Mandatory Purchase means the obligation of the Company (or, if applicable, a Liquidity Provider) to purchase Notes not successfully remarketed by the Remarketing Agent and the applicable Standby Remarketing Agent(s) by 12:00 o'clock noon, New York City time, on any Interest Rate Adjustment Date.
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Special Mandatory Purchase shall have the meaning specified in Section 210(a) hereof. "Spread" shall mean the number of basis points to be added to or subtracted from the related Interest Rate Basis or Bases applicable to an Interest Rate Period for such Note. "Spread Multiplier" shall mean the percentage of the related Interest Rate Basis or Bases applicable to an Interest Rate Period by which such Interest Rate Basis or Bases will be multiplied to determine the applicable interest rate from time to time for an Interest Rate Period. "SPURS Agent" shall mean the remarketing agent granted the option under a SPURS Remarketing Agreement to purchase Notes in the SPURS Mode and subsequently remarket the repurchased Notes at a SPURS Interest Rate. "SPURS Interest Rate" shall mean the rate equal to the Base Rate established by a SPURS Agent, after consultation with the Company, at or prior to the commencement of the applicable SPURS Mode, plus the Applicable Spread, which will be based on the Dollar Price. "SPURS Mode" shall mean, with respect to any Note, the Interest Rate Mode in which such Note shall bear interest and be subject to remarketing as "Structured PUtable Remarketable Securities" ("SPURS") as provided for in Article Three hereof. "SPURS Period" shall mean, with respect to any Note remarketed by the Initial SPURS Agent on the Initial SPURS Remarketing Date, that portion of the SPURS Rate Period commencing on the Initial SPURS Remarketing Date up to, but excluding, the next succeeding Interest Rate Adjustment Date. "SPURS Rate Period" shall mean an Interest Rate Period for any Note in the SPURS Mode established by the Company as a period of more than 364 days and less than the remaining term to the Stated Maturity of such Note; provided, however, that such Interest Rate Period must end on the day prior to an Interest Payment Date for such Note. The SPURS Rate Period shall consist of the period to and excluding the SPURS Remarketing Date and the period from and including the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date. "SPURS Remarketing Agreement" shall mean the agreement by and between the Company and the SPURS Agent dated as of the date commencing the applicable SPURS Rate Period that sets forth the rights and obligations of the Company and the SPURS Agent with respect to the remarketing of Notes in the SPURS Mode. "SPURS Remarketing Date" shall mean the date designated by the SPURS Agent, after consultation with the Company, up...
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Special Mandatory Purchase means the obligation of the Company to purchase Notes not successfully remarketed by the Remarketing Agent and the applicable Standby Remarketing Agent(s) by 3:00 p.m., New York City time, on any Interest Rate Adjustment Date.
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Examples of Special Mandatory Purchase in a sentence

  • Payment of the principal amount of unremarketed Notes by the Company, and payment of accrued and unpaid interest, if any, by the Company, will be made by deposit of same-day funds with the Trustee (or such other account meeting the requirements of the Depositary's procedures as in effect from time to time) irrevocably in trust for the benefit of the Beneficial Owners of Notes subject to Special Mandatory Purchase by 3:00 p.m., New York City time, on such Interest Rate Adjustment Date.

  • In addition, the following event that shall have occurred and be continuing shall be an additional Event of Default with respect to each series of Notes: (7) default in the payment of the purchase price with respect to the Special Mandatory Purchase on the applicable Interest Rate Adjustment Date in accordance with Section 210(a) hereof.

  • Following such failure to pay pursuant to a Special Mandatory Purchase, such Notes will bear interest at the Special Interest Rate as provided for in Section 205 hereof.

  • Failure by the Company to purchase Notes pursuant to a Special Mandatory Purchase will constitute an Event of Default under the Indenture as set forth in Section 401 hereof in which event the date of such failure shall constitute a date of Maturity for such Notes and the principal thereof may be declared due and payable in the manner and with the effect provided in the Indenture.

  • Notes not successfully remarketed will be subject to Special Mandatory Purchase by the Company as set forth in Section 210 hereof.

  • If by 12:00 o'clock noon, New York City time, on any Interest Rate Adjustment Date for this Note, the applicable Remarketing Agent and the applicable Standby Remarketing Agent(s) have not remarketed this Note, this Note shall be subject to Special Mandatory Purchase.

  • The obligation of the Company to effect a Special Mandatory Purchase can be satisfied either directly by the Company or through a Liquidity Provider.

  • If this Note is not successfully remarketed, this Note shall be subject to Special Mandatory Purchase by the Company (a "Special Mandatory Purchase").

  • If this Note was purchased pursuant to a Special Mandatory Purchase, subject to receipt of funds from the Company or the Liquidity Provider (if any), as the case may be, the Trustee will make such payment of the purchase price for this Note plus accrued interest, if any, to such date.

  • If by 12:00 o'clock noon, New York City time, on any Interest Rate Adjustment Date for any Notes, the applicable Remarketing Agent and the applicable Standby Remarketing Agent(s) have not remarketed all such Notes, the Notes that are unremarketed are subject to Special Mandatory Purchase.


More Definitions of Special Mandatory Purchase

Special Mandatory Purchase shall have the meaning specified in Section 210(a) hereof.
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Special Mandatory Purchase shall have the meaning specified in Section 210(a) hereof. "Spread" shall mean the number of basis points to be added to or subtracted from the related Interest Rate Basis or Bases applicable to an Interest Rate Period for such Note.
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Special Mandatory Purchase has the meaning specified under "Redemption, Acceleration and Repayment" below.
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Related to Special Mandatory Purchase

  • Mandatory Purchase means the mandatory purchase of Outstanding VRDP Shares by the Liquidity Provider pursuant to this Agreement in connection with a Mandatory Purchase Event.

  • Special Mandatory Redemption Event has the meaning specified in Section 3.02(a) hereto.

  • Special Mandatory Redemption has the meaning set forth in Section 3.07.

  • Special Mandatory Redemption Date has the meaning set forth in Section 3.02(b) hereto.

  • Mandatory Purchase Date means the Purchase Date for a Mandatory Purchase in accordance with this Statement and the VRDP Purchase Agreement.

  • Mandatory Purchase Event means, (i) in connection with the termination of the VRDP Shares Purchase Agreement due to its expiration as of a Scheduled Termination Date, by the fifteenth day prior to any such Scheduled Termination Date, (a) the Liquidity Provider shall not have agreed to an extension or further extension of the Scheduled Termination Date to a date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement then in effect, and (b) the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement, or (ii) in connection with the termination of the VRDP Shares Purchase Agreement due to a Liquidity Provider Ratings Event or Related Party Termination Event, by the fifteenth day prior to the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Shares Purchase Agreement. The Mandatory Purchase Event shall be deemed to occur on such fifteenth day prior to any Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be.

  • Special Mandatory Redemption Price means 100% of the principal amount of the Notes plus accrued and unpaid interest on the principal amount of the Notes to, but not including, the Special Redemption Date.

  • Mandatory Purchase Notice means, in connection with the Mandatory Purchase of VRDP Shares, a notice substantially in the form attached to the VRDP Shares Purchase Agreement as Exhibit B, delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider in accordance with the VRDP Shares Purchase Agreement specifying a Mandatory Purchase Date.

  • Mandatory Redemption Event has the meaning given to it in Condition 8.7.

  • Mandatory Tender Notice means, in connection with the Mandatory Tender of VRDP Shares, a notice, substantially in the form attached to the VRDP Shares Remarketing Agreement as Annex II, delivered by the Fund or the Tender and Paying Agent on behalf of the Fund to the Holders and the Liquidity Provider in accordance with this Agreement and specifying a Mandatory Tender Event and Purchase Date.

  • Mandatory Tender with respect to a Mandatory Tender Event, means the mandatory tender of all VRDP Shares by Holders for Remarketing, or, in the event (i) no Remarketing occurs on or before the Purchase Date or (ii) pursuant to an attempted Remarketing, VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided, that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider at the Purchase Price pursuant to Section 2 of Part II of the Articles Supplementary and the VRDP Shares Purchase Agreement.

  • Call Option Repayment Date means the settlement date for the Call Option determined by the Issuer pursuant to Clause 10.2 (Voluntary early redemption – Call Option), Clause 10.3(d) or a date agreed upon between the Bond Trustee and the Issuer in connection with such redemption of Bonds.

  • Put Option Repayment Date means the settlement date for the Put Option pursuant to Clause 10.3 (Mandatory repurchase due to a Put Option Event).

  • Redemption Notice Date means, with respect to a Redemption, the date on which the Company sends the Redemption Notice for such Redemption pursuant to Section 4.03(F).

  • Mandatory Redemption Date means, in respect of a Mandatory Redemption Event, the date designated as such in accordance with Condition 8.7.

  • Optional Redemption Notice Date shall have the meaning set forth in Section 6(a).

  • Mandatory Tender Date means any date on which a Multi-Modal Bond is subject to mandatory tender in accordance with the Certificate.

  • Special Master means an expert appointed by a judge to make sure that judicial orders are followed. A master's function is essentially investigative, compiling evidence or documents to inform some future action by the court.

  • Redemption Event has the meaning set forth in Section 3.4.

  • VWAP Purchase Notice means an irrevocable written notice from the Company to the Buyer directing the Buyer to buy Purchase Shares on the VWAP Purchase Date pursuant to Section 1(c) hereof as specified by the Company therein at the applicable VWAP Purchase Price with the applicable VWAP Purchase Share Percentage specified therein.

  • Mandatory Redemption means a redemption of ETP Securities in accordance with Condition 8.7.

  • Initial Optional Purchase Date The first Distribution Date following the date on which the Aggregate Stated Principal Balance is less than 10.00% of the Cut-off Date Balance.

  • Optional Redemption Notice shall have the meaning set forth in Section 6(a).

  • Special Redemption Date has the meaning set forth in Section 10.2.