Common use of Offers to Repurchase by Application of Excess Proceeds Clause in Contracts

Offers to Repurchase by Application of Excess Proceeds. (a) In the event that, pursuant to Section 4.10, the Company is required to commence an Asset Disposition Offer, the Company will follow the procedures specified below. (b) The Asset Disposition Offer will remain open for a period of 20 Business Days following its commencement, except to the extent that a longer period is required by applicable law (the “Asset Disposition Offer Period”). No later than five Business Days after the termination of the Asset Disposition Offer Period (the “Asset Disposition Purchase Date”), the Company shall apply all Excess Proceeds to the purchase of the aggregate principal amount of Notes and, if applicable, Parity Lien Debt (on a pro rata basis, if applicable) required to be purchased pursuant to Section 4.10 (the “Asset Disposition Offer Amount”), or if less than the Asset Disposition Offer Amount of Notes (and, if applicable, Parity Lien Debt) has been so validly tendered, all Notes and Parity Lien Debt validly tendered in response to the Asset Disposition Offer.

Offers to Repurchase by Application of Excess Proceeds. (a) In the event that, pursuant to Section 4.10, the Company is required to commence an Asset Disposition Offer, the Company will follow the procedures specified below. (b) The Asset Disposition Offer will remain open for a period of 20 Business Days following its commencement, except to the extent that a longer period is required by applicable law (the “"Asset Disposition Offer Period”"). No later than five Business Days after the termination of the Asset Disposition Offer Period (the “"Asset Disposition Purchase Date”"), the Company shall apply all Excess Proceeds to the purchase of the aggregate principal amount of Notes and, if applicable, Parity Lien Debt Pari Passu Indebtedness (on a pro rata basis, if applicable) required to be purchased pursuant to Section 4.10 (the “"Asset Disposition Offer Amount”"), or if less than the Asset Disposition Offer Amount of Notes (and, if applicable, Parity Lien DebtPari Passu Indebtedness) has been so validly tendered, all Notes and Parity Lien Debt Pari Passu Indebtedness validly tendered in response to the Asset Disposition Offer.