Notes Repurchases Sample Clauses
The "Notes Repurchases" clause defines the terms under which the issuer or a third party may buy back outstanding notes before their maturity. Typically, this clause outlines the conditions, such as timing, pricing, and any required notifications, that must be met for repurchases to occur, and may specify whether repurchases are permitted on the open market, through tender offers, or via negotiated transactions. Its core practical function is to provide flexibility for the issuer to manage its debt obligations proactively, potentially reducing interest costs or adjusting capital structure, while also clarifying the rights and limitations associated with such repurchases.
Notes Repurchases. (a) If a Notes Repurchase occurs, or an offer to make a Notes Repurchase has been made, the Borrower will, promptly upon becoming aware of such event, notify the Agent of the details of the event, including the amount of the Notes Repurchase.
(b) The Borrower shall cancel and prepay the relevant proportion of the Revolving Facility if required by, and in accordance with Clause 23.15 (Notes Repurchase condition).