Common use of Forced Transfer Clause in Contracts

Forced Transfer. If, subsequent to the initial issuance of Notes, the Issuer determines that any beneficial owner of a Global Note (or any interest therein) is not a Qualified Purchaser or has otherwise obtained such beneficial ownership or interest in such Global Note in violation of the transfer restrictions appearing on the face of such Global Note, the Issuer may compel such purchaser or such other Person to sell or transfer, as applicable, such Notes (or such beneficial interest), within 30 days after notice of the sale requirement is given, to a person acceptable to the Issuer who is able to, and who does make, all of the representations and agreements set forth herein. If the purchaser fails to effect the sale or transfer, as applicable, within such 30-day period, the Issuer has the right, without further notice, to compel such purchaser to sell or transfer, as applicable, such Notes (or such beneficial interest) to a purchaser selected by the Issuer who meets the requirements set forth hereunder on such terms as the Issuer may choose. The Issuer may select the purchaser by soliciting one or more bids from one or more brokers or other market professionals that regularly deal in securities similar to the Notes, and selling such Notes to the highest such bidder. However, the Issuer may select a purchaser by any other means determined by the Issuer in its sole discretion (noting that specifics of timing, etc. may be changed to fit the procedures contemplated by the Issuer).