Common use of Appointment and Obligations of Remarketing Agent Clause in Contracts

Appointment and Obligations of Remarketing Agent. (a) The Company hereby appoints [ ] and [ ] hereby accepts such appointment, (i) as the Remarketing Agent to determine, in consultation with the Company, in the manner provided for herein, in the Purchase Contract and Pledge Agreement and in the Senior Notes, the Reset Rate that, in the opinion of the Remarketing Agent, will, when applied to the Remarketed Senior Notes, enable the aggregate market value of the Remarketed Senior Notes equal 100.25% of the aggregate principal amount of such Remarketed Senior Notes as of the Remarketing Date or as of any Subsequent Remarketing Date, as the case may be, and (ii) as the exclusive Remarketing Agent (subject to the right of such Remarketing Agent to appoint additional remarketing agents hereunder as described below) to remarket the Remarketed Senior Notes to be included in the remarketing on the Remarketing Date, and, if necessary, on May 5, 2010, and, if necessary, on May 6, 2010 and, if necessary, on May 7, 2010 and, if necessary, on May 10, 2010 and, if necessary, on May 11, 2010 and, if necessary, on May 12, 2010, as the case may be, and (iii) in the event that there is not a successful remarketing on the Remarketing Date or any Subsequent Remarketing Date, to determine the Alternative Reset Rate. The Remarketing Agent shall have the right, on 15 Business Days’ notice to the Company, to appoint one or more additional remarketing agents so long as any such additional remarketing agents shall be reasonably acceptable to the Company; provided that any such appointment shall not increase the Remarketing Fee (as defined in Section 4 hereof). Upon any such appointment, the parties shall enter into an appropriate amendment to this Agreement to reflect the addition of any such additional remarketing agent.

Appears in 1 contract

Samples: Form of Remarketing Agreement (Bankunited Financial Corp)

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Appointment and Obligations of Remarketing Agent. (a) The Company hereby appoints [ [________] and [ [________] hereby accepts such appointment, (i) as the Remarketing Agent to determine, in consultation with the Company, in the manner provided for herein, in the Purchase Contract and Pledge Agreement and in the Senior Notes, the Reset Rate that, in the opinion of the Remarketing Agent, will, when applied to the Remarketed Senior Notes, enable the aggregate market value of the Remarketed Senior Notes equal 100.25% of the aggregate principal amount of such Remarketed Senior Notes as of the Remarketing Date or as of any Subsequent Remarketing Date, as the case may be, and (ii) as the exclusive Remarketing Agent (subject to the right of such Remarketing Agent to appoint additional remarketing agents hereunder as described below) to remarket the Remarketed Senior Notes to be included in the remarketing on the Remarketing Date, and, if necessary, on May 5February 4, 2010, 2009 and, if necessary, on May 6February 5, 2010 2009 and, if necessary, on May 7February 6, 2010 2009 and, if necessary, on May February 9, 2009 and, on February 10, 2010 2009 and, if necessary, on May February 11, 2010 and, if necessary, on May 12, 20102009, as the case may be, and (iii) in the event that there is not a successful remarketing on the Remarketing Date or any Subsequent Remarketing Date, to determine the Alternative Reset Rate. The Remarketing Agent shall have the right, on 15 Business Days' notice to the Company, to appoint one or more additional remarketing agents so long as any such additional remarketing agents shall be reasonably acceptable to the Company; provided that any such appointment shall not increase the Remarketing Fee (as defined in Section 4 hereof). Upon any such appointment, the parties shall enter into an appropriate amendment to this Agreement to reflect the addition of any such additional remarketing agent.

Appears in 1 contract

Samples: Xl Capital LTD

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Appointment and Obligations of Remarketing Agent. (a) The Company hereby appoints [ [________] and [ [________] hereby accepts such appointment, (i) as the Remarketing Agent to determine, in consultation with the Company, in the manner provided for herein, in the Purchase Contract and Pledge Agreement and in the Senior Notes, the Reset Rate that, in the opinion of the Remarketing Agent, will, when applied to the Remarketed Senior Notes, enable the aggregate market value of the Remarketed Senior Notes equal 100.25% of the aggregate principal amount of such Remarketed Senior Notes as of the Remarketing Date or as of any Subsequent Remarketing Date, as the case may be, and (ii) as the exclusive Remarketing Agent (subject to the right of such Remarketing Agent to appoint additional remarketing agents hereunder as described below) to remarket the Remarketed Senior Notes to be included in the remarketing on the Remarketing Date, and, if necessary, on May 53, 20102007, and, if necessary, on May 64, 2010 2007 and, if necessary, on May 7, 2010 2007 and, if necessary, on May 8, 2007 and, if necessary, on May 9, 2007 and, if necessary, on May 10, 2010 and, if necessary, on May 11, 2010 and, if necessary, on May 12, 20102007, as the case may be, and (iii) in the event that there is not a successful remarketing on the Remarketing Date or any Subsequent Remarketing Date, to determine the Alternative Reset Rate. The Remarketing Agent shall have the right, on 15 Business Days' notice to the Company, to appoint one or more additional remarketing agents so long as any such additional remarketing agents shall be reasonably acceptable to the Company; provided that any such appointment shall not increase the Remarketing Fee (as defined in Section 4 hereof). Upon any such appointment, the parties shall enter into an appropriate amendment to this Agreement to reflect the addition of any such additional remarketing agent.

Appears in 1 contract

Samples: Remarketing Agreement (Xl Capital LTD)

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