Mandatory Tender Sample Clauses
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Mandatory Tender. If at any time the Issuer at the direction of the Borrower shall convert the interest rate on the Bonds to a different Interest Rate Mode, on the Interest Period Reset Date upon which such conversion is effective, all Bonds and Beneficial Ownership Interests shall be subject to mandatory tender by the Holders or Beneficial Owners thereof for purchase on the Interest Period Reset Date (a "Bond Purchase Date") at the applicable purchase price provided for above. Notwithstanding such mandatory tender, any Holder or Beneficial Owner may elect to retain his or her Bonds or Beneficial Ownership Interests by delivering to the Registrar a written notice no later than 11:00 a.m. according to the local time at the principal corporate trust office of the Registrar on the eighth Business Day prior to such Interest Period Reset Date or by 11:00 a.m. according to the local time at the principal corporate trust office of the Registrar on the fifth Business Day prior to such Interest Period Reset Date if the Interest Rate Mode is to be converted to the One Month Interest Rate, which notice shall state that (a) such Holder or Beneficial Owner realizes that the Bonds or Beneficial Ownership Interests are being converted to bear interest at the applicable Interest Rate Mode, (b) unless the interest rate on the Bonds is being converted to the Weekly Interest Rate, such Holder or Beneficial Owner realizes that the next Bond Purchase Date upon which the Bonds or Beneficial Ownership Interests may be tendered for purchase is the next Interest Rate Adjustment Date or, if such Bonds are being converted to the Fixed Interest Rate, that such Bonds may no longer be tendered for purchase, (c) such Holder or Beneficial Owner realizes that any securities rating on the Bonds may be withdrawn or lowered as a result of the conversion to a different Interest Rate Mode, and (d) such Holder or Beneficial Owner affirmatively elects to hold his or her Bonds and receive interest at the applicable Interest Rate Mode. Bonds or Beneficial Ownership Interests with respect to which the Registrar shall not have received the election required by the preceding paragraph shall be deemed to have been tendered whether or not the Holders thereof shall have delivered such Bonds to the Registrar and without the need for further action of the Beneficial Owners. Subject to the right of the Holders of such Bonds or Beneficial Owners of such Beneficial Ownership Interests to receive the purchase price of such Bon...
Mandatory Tender. Provided that the MAPS Agent gives notice to the Company and the Trustee on a Business Day not later than ten (10) days prior to the MAPS Remarketing Date of its intention to purchase the Notes for remarketing (the "Notification Date"), each Note shall be automatically tendered, or deemed tendered, to the MAPS Agent for remarketing on the MAPS Remarketing Date, except in the circumstances set forth in Section 304. The purchase price for the tendered Notes to be paid by the MAPS Agent shall equal 100% of the principal amount thereof. When the Notes are tendered for remarketing, the MAPS Agent may remarket the Notes for its own account at varying prices to be determined by the MAPS Agent at the time of each sale. From, and including, the MAPS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, the Notes shall bear interest at the MAPS Interest Rate. If the MAPS Agent elects to remarket the Notes, the obligation of the MAPS Agent to purchase the Notes on the MAPS Remarketing Date is subject to, among other things, the conditions specified in the applicable MAPS Remarketing Agreement. If the MAPS Agent for any reason does not purchase all tendered Notes on the MAPS Remarketing Date or if the MAPS Agent gives notice of its intention to remarket the Notes but for any reason does not purchase all tendered Notes on the MAPS Remarketing Date, then as of such date the Notes will cease to be in the MAPS Mode, the MAPS Remarketing Date will constitute an Interest Rate Adjustment Date, and the Notes may be subject to remarketing on such date by a Remarketing Agent appointed by the Company in the Commercial Paper Mode or the Long Term Rate Mode or a new MAPS Mode established by the Company in accordance with the procedures set forth in Section 205 hereof, provided that, in such case, the notice period required for conversion shall be the lesser of ten (10) days and the period commencing the date that the MAPS Agent notifies the Company that it will not purchase the Notes for remarketing on the MAPS Remarketing Date or fails to so purchase, as the case may be.
Mandatory Tender. Provided that the SPURS Agent gives notice to the Company and the Trustee on a Business Day not later than ten (10) days prior to the SPURS Remarketing Date of its intention to purchase this Note for remarketing (the "Notification Date"), this Note shall be automatically tendered, or deemed tendered, to the SPURS Agent for purchase on the SPURS Remarketing Date, except in the circumstances described in "Redemption" below, for 100% of the principal amount hereof. Upon tender, the SPURS Agent may remarket this Note for its own account at varying prices to be determined by the SPURS Agent at the time of such sale. From, and including, the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, this Note shall bear interest at the SPURS Interest Rate. If the SPURS Agent elects to remarket this Note, the obligation of the SPURS Agent to purchase this Note on the SPURS Remarketing Date is subject to, among other things, the conditions that, since the Notification Date, no material adverse change in the condition of the Company and its subsidiaries, considered as one enterprise, shall have occurred and that no Event of Default (as defined in the Indenture), or any event which, with the giving of notice or passage of time, or both, would constitute an Event of Default, with respect to this Note shall have occurred and be continuing.
Mandatory Tender. In the case of a failure of the Borrower to make timely reimbursement of a drawing under a Bond Letter of Credit to pay principal of or interest on Bonds, give notice to the trustee under the applicable Bond Documents of such failure and directing such trustee to effect a mandatory tender or the acceleration of such Bonds as may be permitted under such Bond Documents. Notwithstanding the foregoing, if an Event of Default specified in Section 8.1(e) shall occur, then the Commitments and any obligations of the L/C Issuers to make L/C Credit Extensions shall automatically terminate and all Loans, all accrued interest in respect thereof, all accrued and unpaid fees and other indebtedness or obligations owing to the Lenders and the Administrative Agent hereunder shall immediately become due and payable and the obligations of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without the giving of any notice or other action by the Administrative Agent or the Lenders. Notwithstanding the fact that enforcement powers reside primarily with the Administrative Agent, each Lender has, to the extent permitted by law, a separate right of payment and shall be considered a separate “creditor” holding a separate “claim” within the meaning of Section 101(5) of the Bankruptcy Code or any other insolvency statute.
Mandatory Tender upon tender (or constructive tender pursuant to Section 4.12D of the Bond Indenture) for purchase of such Bonds or portions thereof as required by Sections 4.07, 4.08, 4.09 (unless such Bonds or portions are in an R-FLOATs Mode), or 4.10 of the Bond Indenture on any day on which such Bonds or portions are so required to be tendered for purchase, and in any case (except upon constructive tender of such Bonds or portions thereof), upon delivery of any such Bond or portion thereof to be purchased to the Tender Agent on the Purchase Date therefor in accordance with Section 4.12D of the Bond Indenture, but only if the Purchase Price for such Bonds shall not have been paid by the time required by the Securities Depository to credit funds on the Purchase Date therefor from proceeds of the remarketing of Bonds pursuant to the Remarketing Agreement for such Bonds in accordance with the Bond Indenture or funds advanced by the Liquidity Facility Providers pursuant to the Liquidity Facilities for such Bonds.
Mandatory Tender. If the Remarketing Dealer gives notice to the Company and the Trustee no earlier than 15 Business Days prior to the first Remarketing Date and not later than 4:00 p.m., New York City time, on the 10th Business Day prior to the first Remarketing Date, of its intention to purchase the ROARS for remarketing (the "Notification Date"), the ROARS shall be automatically tendered, or deemed tendered, to the Remarketing Dealer for purchase on such Remarketing Date, except in certain circumstances described in Section 3.
Mandatory Tender. Provided that the SPURS Agent gives notice to the Company and the Trustee on or before the Notification Date of its intention to purchase the Notes for remarketing, each Note will be automatically tendered, or deemed tendered, to the SPURS Agent for remarketing at the SPURS Interest Rate on the SPURS Remarketing Date, except in the circumstances described in subsection (b)(2) and Section 305 below with regard to failure of the SPURS Agent to purchase the Notes. The purchase price for the tendered Notes to be paid by the SPURS Agent will equal 100% of the principal amount thereof. When the Notes are tendered for remarketing, the SPURS Agent may remarket the Notes for its own account at varying prices to be determined by the SPURS Agent at the time of each sale. From and including the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, the Notes will bear interest at the SPURS Interest Rate. If the SPURS Agent elects to remarket the Notes, the obligation of the SPURS Agent to purchase the Notes on the SPURS Remarketing Date is subject to the conditions set forth in the applicable SPURS Remarketing Agreement.
Mandatory Tender. Provided that the Callholder gives notice to the Company and the Trustee on or before the Notification Date of its intention to purchase the Notes for remarketing, each Note will be automatically tendered, or deemed tendered, to the Callholder for remarketing at the ROARS Coupon Reset Rate on the ROARS Remarketing Date, except in the circumstances described in subsection (b)(2) and Section 305 below with regard to failure of the Callholder to purchase the Notes. The purchase price for the tendered Notes to be paid by the Callholder will equal 100% of the principal amount thereof. When the Notes are tendered for remarketing, the Callholder may remarket the Notes for its own account at varying prices to be determined by the Callholder at the time of each sale. From and including the ROARS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, the Notes will bear interest at the ROARS Coupon Reset Rate. If the Callholder elects to remarket the Notes, the obligation of the Callholder to purchase the Notes on the ROARS Remarketing Date is subject to the conditions set forth in the applicable ROARS Remarketing Agreement.
Mandatory Tender. (1) Subject to 3.6(c), if the Callholder shall have purchased the Securities pursuant to the Call Option Agreement and the Issuer shall have elected the Floating Rate Option, the Securities shall be automatically tendered, or deemed tendered, by the Holders thereof to the Remarketing Agent for purchase on the Floating Rate Period Termination Date. On the Reset Date corresponding to the Floating Rate Period Termination Date, the interest rate on the Securities shall be reset to equal the Interest Rate to Maturity in accordance with, and the Securities shall be remarketed pursuant to, the Remarketing Agreement.
(2) The purchase price for the Securities tendered pursuant to paragraph (a) of this Section 3.5 shall equal 100% of the Floating Rate Purchase Price plus accrued and unpaid interest, if any, thereon to but excluding the Floating Rate Period Termination Date. If for any reason the Remarketing Agent does not purchase all of the Securities on the Floating Rate Period Termination Date, the Issuer shall redeem the Securities on the Floating Rate Period Termination Date at a redemption price equal to 100% of the Floating Rate Purchase Price plus accrued and unpaid interest, if any, thereon to but excluding the Floating Rate Period Termination Date. If the Remarketing Agent elects to purchase the Securities, such obligation of the Remarketing Agent is subject to the conditions set forth in the Remarketing Agreement.
Mandatory Tender. (a) The Holder of each Bond other than a Pledged Bond or a Bond that has been deemed Fully Paid shall be required to tender such Bond to the Trustee or Tender Agent for purchase on the following dates; provided each such Holder may elect to retain the Bond or Bonds thereof by written notice meeting the requirements of subsection 4.05