Purchase of Securities at the Option of the Holder Sample Clauses

The 'Purchase of Securities at the Option of the Holder' clause grants the security holder the right to require the issuer or another party to buy back their securities under specified conditions. Typically, this clause outlines the circumstances under which the holder can exercise this option, such as upon a change of control, default, or at certain dates, and details the price or formula for repurchase. Its core function is to provide the holder with flexibility and protection, allowing them to exit their investment and recover funds if certain events occur or if they choose to do so within the agreed terms.
Purchase of Securities at the Option of the Holder. (a) On each of February 15, 2013, February 15, 2016, February 15, 2021, February 15, 2026 and February 15, 2031 (each a “Purchase Date”), at a price (the “Purchase Price”), which shall be paid in cash, equal to 100% of the principal amount of the Securities to be repurchased plus any accrued and unpaid interest to but excluding the Purchase Date, a Holder shall have the option to require the Company to purchase any outstanding Securities, upon: (i) delivery to the Paying Agent by the Holder of a written notice of purchase (a “Purchase Notice”) at any time from the opening of business on the date that is 20 Business Days prior to a Purchase Date until the close of business on the Business Day prior to such Purchase Date, stating: (A) if certificated, the certificate numbers of the Securities which the Holder will deliver to be purchased, or, if not certificated, the Purchase Notice must comply with appropriate DTC procedures; (B) the portion of the principal amount of the Securities which the Holder will deliver to be purchased, which portion must be $1,000 in principal amount or an integral multiple thereof; (C) that such Securities shall be purchased as of the Purchase Date pursuant to the terms and conditions specified in paragraph 6 of the Securities and in this Indenture; and (ii) delivery or book-entry transfer of such Securities to the Paying Agent (together with all necessary endorsements) at the offices of the Paying Agent, such delivery or transfer being a condition to receipt by the Holder of the Purchase Price therefor; provided, however, that such Purchase Price shall be so paid pursuant to this Section 11.02 only if the Securities so delivered or transferred to the Paying Agent shall conform in all respects to the description thereof in the related Purchase Notice. (b) The Company shall purchase from a Holder, pursuant to this Section 11.02, Securities if the principal amount of such Securities is $1,000 or a multiple of $1,000 if so requested by such Holder. (c) Any purchase by the Company contemplated pursuant to the provisions of this Section 11.02 shall be consummated by the delivery of the Purchase Price to be received by the Holder promptly following the later of the Purchase Date or the time of book-entry transfer or delivery of the Securities. (d) Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the Purchase Notice contemplated by this Section 11.02 shall have the right at any time prior to the...
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Purchase of Securities at the Option of the Holder. Beginning in December 2001, the Holder may tender the Securities in whole, not in part, for redemption at the Redemption Price stated in the Indenture under hardship circumstances. To effect redemption, the Holder may deliver to the Company notice of redemption with the Security only during the periods June 1 through June 30 and December 1 through December 31 each calendar year. The Holder's notice of redemption is irrevocable, and is subject only to the Company's acceptance. The notice must provide information on the financial difficulty or change of circumstances of the Holder and the Holder must provide any additional information requested by the Company on the hardship situation. The Company has complete discretion on the basis of the information provided or factors unrelated to the Holder's personal circumstances to accept or reject the request for hardship redemption. Securities will be redeemed effective the last day of the month in which the notice of redemption is tendered to the Company, and payment of the Redemption Price will be made 30 calendar days thereafter. The aggregate Holder redemption of Securities in the Series in each calendar year shall not exceed 10% of the aggregate Principal amount of the Securities in the Series outstanding on the first day of each calendar year. The Company will select the Securities to be redeemed on a "first come - first served" basis or by such manner as the Company deems fair to the Holders of the Securities. In the event of the death of a Holder or joint Holder (or if the Holder is an Individual retirement Account, the death of the owner of such account), the legal representative of the estate of the decedent may tender the Security in whole, not in part, for redemption at the Redemption Price stated in the Indenture. To effect redemption, the legal representative shall deliver to the Company notice of redemption with the Security during the six-month period following the date of death of the deceased Holder or Individual Retirement Account owner. The notice of redemption is irrevocable, and is subject only to the Company's acceptance. Securities will be redeemed effective the last day of the month in which the notice of redemption is tendered to the Company, and payment of the Redemption Price will be made 30 calendar days thereafter. If the Company agrees to redeem a Holder's Securities, the Company shall notify the Trustee and the Paying Agent in writing of the Redemption Date, the Redemption Price and ...
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Purchase of Securities at the Option of the Holder. (a) --------------------------------------------------- General. If a Holder exercises its right to require the Company to repurchase ------- the Securities, the Securities shall be purchased by the Company on May 23, 2004, May 23, 2005, May 23, 2006, May 23, 2011, May 23, 2016, May 23, 2021, and May 23, 2026 (each, a "Purchase Date"), at the purchase price of: o $546.56 per $1,000 of Principal ▇▇▇▇▇▇ on May 23, 2004; o $558.93 per $1000 of Principal Amount on May 23, 2005; o $571.58 per $1,000 of Principal Amount on May 23, 2006; o $639.23 per $1,000 of Principal Amount on May 23, 2011; o $714.90 per $1,000 Principal Amount on May 23, 2016; o $799.52 per $1,000 Principal Amount on May 23, 2021; and o $894.16 per $1,000 Principal Amount on May 23, 2026 (each, a "Purchase Price", as applicable), at the option of the Holder thereof, upon: (1) delivery to the Paying Agent, by the Holder, of a written notice of purchase (a "Purchase Notice") at any time from the opening of business --------------- on the date that is at least 20 Business Days prior to a Purchase Date until the close of business on the Business Day immediately preceding such Purchase Date stating: (A) the certificate number of the Security which the Holder will deliver to be purchased, (B) the portion of the Principal Amount of the Security which the Holder will deliver to be purchased, which portion must be a Principal Amount of $1,000 or an integral multiple thereof, (C) that such Security shall be purchased as of the Purchase Date pursuant to the terms and conditions specified in the Securities, and (D) in the event the Company elects, pursuant to Section 3.08(b), to pay the Purchase Price to be paid as of such Purchase Date, in whole or in part, in shares of Common Stock but such portion of the Purchase Price shall ultimately be payable to such Holder entirely in cash because any of the conditions to payment of the Purchase Price (or a portion thereof) in Common Stock is not satisfied prior to the close of business on such Purchase Date, as set forth in Section 3.08(d), whether such Holder elects (i) to withdraw such Purchase Notice as to some or all of the Securities to which such Purchase Notice relates (stating the Principal Amount and certificate numbers of the Securities as to which such withdrawal shall relate), or (ii) to receive cash in respect of the entire Purchase Price for all Securities (or portions thereof) to which such Purchase Notice relates; and (2) delivery of such Securi...
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Purchase of Securities at the Option of the Holder 
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Related to Purchase of Securities at the Option of the Holder

  • Repurchase of Securities AT THE OPTION OF THE HOLDER UPON A CHANGE IN CONTROL

  • Repayment at the Option of the Holder Unless a Repayment Right is specified on the face hereof, this Security shall not be repayable at the option of the Holder on any date prior to the Maturity Date specified on the face hereof, other than in connection with any applicable Survivor's Option (defined below). If a Repayment Right is so specified, this Security is subject to repayment at the option of the Holder on any Interest Payment Date on and after the date, if any, indicated on the face hereof (each, a "Repayment Date"). On any Repayment Date, this Security shall be repayable in whole or in part in increments of $1,000 at the option of the Holder hereof at a repayment price equal to 100% of the principal amount to be repaid, together with accrued interest thereon to the Repayment Date. In order for a Security to be repaid in whole or in part at the option of the Holder, the Trustee must receive, at the Corporate Trust Office, or such other office of which the Company shall from time to time notify the Holders of the Securities, at least 30 days but not more than 60 days prior to the Repayment Date on which this Security is to be repaid, this Security with the form entitled "Option to Elect Repayment" below duly completed. Once this Security is delivered for repayment, the Holder may not revoke its exercise of the repayment option.

  • Purchase of Securities Promptly upon each purchase of Securities for the Fund, Written Instructions shall be delivered to the Custodian, specifying (i) the name of the issuer or writer of such Securities, and the title or other description thereof, (ii) the number of shares, principal amount (and accrued interest, if any) or other units purchased, (iii) the date of purchase and settlement, (iv) the purchase price per unit, (v) the total amount payable upon such purchase, and (vi) the name of the person to whom such amount is payable. The Custodian shall upon receipt of such Securities purchased by the Fund pay out of the moneys held for the account of the Fund the total amount specified in such Written Instructions to the person named therein. The Custodian shall not be under any obligation to pay out moneys to cover the cost of a purchase of Securities for the Fund, if in the Fund Custody Account there is insufficient cash available to the Fund for which such purchase was made.

  • Cancellation of Securities All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, if surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of cancelled Securities held by it in accordance with its procedures for the disposition of cancelled Securities and deliver a certificate of disposition to the Issuer upon request. If the Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

  • Sale and Purchase of Securities Subject to the terms and conditions hereof, the Company agrees to sell, and Purchaser irrevocably subscribes for and agrees to purchase, the number of Units set forth on the signature page of this Agreement at a purchase price of $1.80