Common use of Mandatory Tender Clause in Contracts

Mandatory Tender. Provided that the SPURS Agent gives notice to the Company and the Trustee on or before the Notification Date of its intention to purchase the Notes for remarketing, each Note will be automatically tendered, or deemed tendered, to the SPURS Agent for remarketing at the SPURS Interest Rate on the SPURS Remarketing Date, except in the circumstances described in subsection (b)(2) and Section 305 below with regard to failure of the SPURS Agent to purchase the Notes. The purchase price for the tendered Notes to be paid by the SPURS Agent will equal 100% of the principal amount thereof. When the Notes are tendered for remarketing, the SPURS Agent may remarket the Notes for its own account at varying prices to be determined by the SPURS Agent at the time of each sale. From and including the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, the Notes will bear interest at the SPURS Interest Rate. If the SPURS Agent elects to remarket the Notes, the obligation of the SPURS Agent to purchase the Notes on the SPURS Remarketing Date is subject to the conditions set forth in the applicable SPURS Remarketing Agreement.

Mandatory Tender. Provided that the SPURS Agent gives notice to the Company and the Trustee on or before a Business Day not later than ten (10) days prior to the Notification SPURS Remarketing Date of its intention to purchase the Notes for remarketingremarketing (the "Notification Date"), each Note will shall be automatically tendered, or deemed tendered, to the SPURS Agent for remarketing at the SPURS Interest Rate on the SPURS Remarketing Date, except in the circumstances described set forth in subsection (b)(2) and Section 305 below with regard to failure of the SPURS Agent to purchase the Notes304. The purchase price for the tendered Notes to be paid by the SPURS Agent will shall equal 100% of the principal amount thereof. When the Notes are tendered for remarketing, the SPURS Agent may remarket the Notes for its own account at varying prices to be determined by the SPURS Agent at the time of each sale. From From, and including including, the SPURS Remarketing Date to, but excluding, the next succeeding Interest Rate Adjustment Date, the Notes will shall bear interest at the SPURS Interest Rate. If the SPURS Agent elects to remarket the Notes, the obligation of the SPURS Agent to purchase the Notes on the SPURS Remarketing Date is subject to the conditions set forth in the applicable SPURS Remarketing Agreement.to, among other