Common use of Remarketing Efforts Clause in Contracts

Remarketing Efforts. (i) Subject to the conditions set forth herein, on each day during each Three-Day Remarketing Period during the Period for Early Remarketing and on each day during the Final Remarketing Period (the first day of any such period, a "REMARKETING COMMENCEMENT DATE") (A) the Company, in consultation with the Remarketing Agents, shall propose the stated maturity, optional redemption provisions, if any, and other terms of the Senior Notes (other than the interest rate and the provisions referred to in subsection (b)(ii) of this Section) to be in effect as of the Remarketing Settlement Date, which terms shall be satisfactory to the Remarketing Agents and (B) the Remarketing Agents shall use commercially reasonable efforts to remarket all Senior Notes which are to be remarketed (as set forth in notices to the Company and the Remarketing Agents by the Purchase Contract Agent and/or the Collateral Agent, as described in the Officer's Certificate), with the proposed terms referred to in clause (A) above, at an aggregate purchase price equal to (x) if remarketing occurs during the Period for Early Remarketing, the applicable Remarketing Value or (y) if the remarketing occurs during the Final Remarketing Period, the Contract Settlement Value. (ii) In the conduct of such remarketing activities, the Remarketing Agents shall consult with the Company and with prospective purchasers of the Senior Notes being remarketed (including the Underwriters), and, taking into account, among other things, prevailing financial market conditions and the creditworthiness and prospects of the Company, as well as the proposed terms of the Senior Notes referred to in clause (A) in subsection (d)(i) above, the Remarketing Agents shall determine the interest rate on the Senior Notes, to be effective as of the Remarketing Settlement Date, which will enable them to sell the Senior Notes being remarketed, with the proposed terms referred to in clause (i)(A) above, at the applicable purchase price referred to above.