Common use of Purchase by Optionholder Clause in Contracts

Purchase by Optionholder. (a) At any time (i) after the occurrence (but during the continuance) of an Event of Default pursuant to clause (1) or (2) of Section 6.01 or (ii) following the taking of any enforcement action by the Trustee pursuant to Section 6.02 or Section 6.03 or the exercise of any enforcement action by the Trustee or the Collateral Agent under the Security Documents (a “Relevant Event”), the Optionholder, if any, shall have the right, but not the obligation, to purchase (the “Purchase Option”) all, but not less than all, of the Securities then outstanding at a purchase price equal to 100% of the principal amount thereof plus accrued interest thereon, if any, to the date of purchase (the “Purchase Option Payment”).