Common use of Mandatory Tender Clause in Contracts

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

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

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