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"published": true}], "snippet": "(a) Each Holder shall have the right, at the Holder's option, but subject to the provisions of this Section 4.1, to require the Company to purchase, and upon the exercise of such right, the Company shall purchase, all of such Holder's Notes not theretofore called for redemption, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof, as directed by such Holder pursuant to this Section 4.1, on each of March 15, 2011, March 15, 2014 and March 15, 2019 (each a \"PURCHASE DATE\"). The Company shall be required to purchase such Notes at a purchase price equal to 100% of the principal amount plus accrued and unpaid interest, Additional Amounts and Additional Interest, if any, to, but excluding, the Purchase Date (the \"PURCHASE PRICE\"). In the event that a Purchase Date is a date that is after any Regular Record Date but on or before the corresponding Interest Payment Date, the Company shall be required to pay accrued and unpaid interest, Additional Amounts and Additional Interest, if any, to the Holder of the repurchased Note and not the Holder on the Regular Record Date.\n(b) The Company shall pay the Purchase Price with respect to Notes to be purchased pursuant to this Article IV as of the first Purchase Date wholly in cash; however, it may elect with respect to either or both of the two remaining Purchase Dates to pay the Purchase Price in respect of Notes to be purchased pursuant to this Section 4.1 as of such Purchase Date, in cash or Common Stock, or in any combination of cash and Common Stock, subject to the conditions set forth in Section 4.1(d). The Company shall designate, in the Company Notice delivered pursuant to this Section 4.1(b), whether the Company will purchase the Notes for cash or Common Stock, or, if a combination thereof, the percentages of the Purchase Price of Notes in respect of which it will pay in cash and Common Stock; provided that the Company shall pay cash for fractional interests in shares of Common Stock, and it shall pay any accrued and unpaid interest, Additional Amounts and Additional Interest on such Notes in cash. Each Holder whose Notes are purchased pursuant to this Section 4.1 shall receive the same percentage of cash and/or Common Stock in payment of the Purchase Price for such Notes, except as provided in Section 4.1(d) with regard to the payment of cash in lieu of fractional interests in shares of Common Stock. The Company may not change its election with respect to the consideration (or components or percentages of components thereof) to be paid once the Company has given its Company Notice to Holders, except as provided in Section 4.1(d). No later than 22 Business Days prior to each Purchase Date, the Company shall mail a written notice (the \"COMPANY NOTICE\") of the purchase right by first class mail to the Trustee (and the Paying Agent if the Trustee is not then acting as a Paying Agent) and to each Holder at its address shown in the Register of the Registrar, and to beneficial owners as required by applicable law. The notice shall include a form of Purchase Notice to be completed by the Holder and shall briefly state, as applicable:\n(i) the date by which the Purchase Notice must be delivered to the Paying Agent in order for a Holder to exercise the purchase right pursuant to this Section 4.1;\n(ii) the Purchase Date;\n(iii) the Purchase Price and, in the case of Notes subject to purchase on either the second or third Purchase Date, whether the Company will purchase such Notes for cash or Common Stock, or, if a combination thereof, the percentages of the Purchase Price of such Notes in respect of which it will pay cash and Common Stock;\n(iv) the name and address of the Paying Agent and the Conversion Agent;\n(v) the Conversion Rate and any adjustments thereto;\n(vi) that the Notes as to which a Purchase Notice has been given may be converted into Common Stock if they are otherwise convertible pursuant to ARTICLE XII of this Indenture only if the Purchase Notice has been withdrawn in accordance with the terms of this Indenture;\n(vii) that the Notes must be surrendered to the Paying Agent to collect payment;\n(viii) that the Purchase Price for any Notes as to which a Purchase Notice has been duly given and not withdrawn shall be paid promptly following the later of the Purchase Date and the time of surrender of such Security as described in Section 4.1(b)(vii);\n(ix) the procedures the Holder must follow to exercise its rights under this Section 4.1 and a brief description of such rights;\n(x) briefly, the conversion rights of the Notes, if any, and that the Holder must satisfy the requirements set forth in the Indenture in order to convert the Notes;\n(xi) the procedures for withdrawing a Purchase Notice, including a form of notice of withdrawal;\n(xii) that, unless the Company defaults in making payment of such Purchase Price, interest (including any Additional Interest) and Additional Amounts, if any, on Notes surrendered for purchase by the Company shall cease to accrue on and after the Purchase Date; and\n(xiii) the CUSIP number(s) of the Notes. In the event the Company has elected to pay a Purchase Price (or a specified percentage thereof) with Common Stock, the Company Notice shall also:\n(1) state that each Holder will receive Common Stock with a Market Price determined as of a specified date prior to the Purchase Date equal to a specified percentage of the Purchase Price of the Securities held by such Holder (except any cash amount to be paid in lieu of a fractional share); and\n(2) set forth the method of calculating the Market Price and state that because the Market Price of Common Stock will be determined prior to the Purchase Date, the Holders will bear the market risk with respect to the value of the Common Stock to be received between the date such Market Price is determined and the Purchase Date. At the Company's request, the Trustee shall give the Company Notice in the Company's name and at the Company's expense; provided, however, that the Company makes such request at least five Business Days (unless a shorter period shall be satisfactory to the Trustee) prior to the date by which such Company Notice must be given to the Holders in accordance with this Section 4.1(b); provided, further, that the text of the Company Notice shall be prepared by the Company. If any of the Notes is in the form of a Global Security, then the Company shall modify such Company Notice to the extent necessary to accord with the procedures of the Depositary applicable to the purchase of Global Securities. Simultaneously with delivering the Company Notice pursuant to this Section 4.1(b), the Company shall make a Public Notice containing all information specified in such Company Notice.\n(c) A Holder may exercise its rights specified in clause (a) of this Section 4.1 upon delivery of a written notice (which shall be in substantially the form included on the reverse side of the Securities entitled \"Option of Holder to Elect Purchase\" hereto and which may be delivered by letter, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Depositary's customary procedures) of the exercise of such rights (a \"PURCHASE NOTICE\") to the Paying Agent at any time from the opening of business on the date that is 22 Business Days prior to the relevant Purchase Date until the close of business on the second Business Day prior to such Purchase Date. The Purchase Notice delivered by a Holder shall state (i) the relevant Purchase Date, (ii) if certificated Securities, the serial number or numbers of the Note or Notes which the Holder shall deliver to be purchased (if not certificated, the notice must comply with Applicable Procedures), (iii) the portion of the principal amount of the Note which the Holder shall deliver to be purchased, which portion must be $1,000 or an integral multiple thereof, and (iv) that such Note shall be purchased pursuant to the terms and conditions specified in the Securities and this Indenture. Delivery of a Note to the Paying Agent by book-entry transfer or physical delivery prior to, on or after the applicable Purchase Date (together with all necessary endorsements) at the offices of the Paying Agent is a condition to receipt by the Holder of the Purchase Price therefor; provided, however, that such Purchase Price shall be so paid pursuant to this Section 4.1 only if the Note so delivered to the Paying Agent shall conform in all respects to the description thereof in the related Purchase Notice, as determined by the Company. The Company shall purchase from the Holder thereof, pursuant to this Section 4.1, a portion of a Note if the principal amount of such portion is $1,000 or an integral multiple thereof. Provisions of this Indenture that apply to the purchase of all of a Note pursuant to Section 4.1 through Section 4.7 also apply to the purchase of such portion of such Note. The Paying Agent shall promptly notify the Company of the receipt by it of any Purchase Notice or written withdrawal thereof. Anything herein to the contrary notwithstanding, in the case of Global Securities, any Purchase Notice may be delivered or withdrawn and such Securities may be surrendered or delivered for purchase in accordance with the Applicable Procedures as in effect from time to time.\n(d) To the extent permitted by Section 4.1(b), the Purchase Price of Notes in respect of which a Purchase Notice pursuant to Section 4.1(c) has been given, or a specified percentage thereof, may be paid by the Company by the issuance of a number of shares of Common Stock equal to the quotient obtained by dividing (i) the amount of cash to which the Holders would have been entitled had the Company elected to pay all or such specified percentage, as the case may be, of the Purchase Price of such Securities in cash by (ii) 95% of the Market Price of a share of Common Stock as of the applicable Purchase Date, subject to the next succeeding paragraph. The Company will not issue a fractional share of Common Stock in payment of the Purchase Price. Instead the Company will pay cash for the current market value of the fractional share. The current market value of a fraction of a share shall be determined by multiplying the Market Price by such fraction and rounding the product to the nearest whole cent. It is understood that if a Holder elects to have more than one Security repurchased, the number of shares of Common Stock shall be based on the aggregate amount of Securities to be repurchased. The Company's right to exercise its election to Purchase Notes pursuant to this Section 4.1 through the issuance of shares of Common Stock shall be conditioned upon:\n(i) the Company having given timely Company Notice of election to purchase all or a specified percentage of the Notes with Common Stock as provided in Section 4.1(b);\n(ii) registration of the shares of Common Stock to be issued in respect of the payment of the specified percentage of the Purchase Price under (A) the Exchange Act and (B) the Securities Act, unless in the case of this clause (B) the shares of Common Stock so issued can be freely resold by the Holder (assuming such Holder is not the Company or an Affiliate of the Company) receiving such shares without registration under the Securities Act;\n(iii) any necessary qualification or registration of such shares under applicable state securities laws or the availability of an exemption from such qualification and registration;\n(iv) the Common Stock shall be listed on a national securities exchange or quoted on an inter-dealer quotation system of any registered national securities association; and\n(v) the receipt by the Trustee of an Officers' Certificate and an Opinion of Counsel each stating that (A) the terms of the issuance of the Common Stock are in conformity with this Indenture and (B) the shares of Common Stock to be issued by the Company in payment of the specified percentage of the Purchase Price in respect of Securities have been duly authorized and, when issued and delivered pursuant to the terms of this Indenture in payment of the specified percentage of the Purchase Price in respect of Securities, will be validly issued, fully paid and nonassessable, and, in the case of such Officers' Certificate, stating that conditions (i), (ii), (iii) and (iv) above have been satisfied and, in the case of such Opinion of Counsel, stating that conditions (ii) and (iii) above have been satisfied. Such Officers' Certificate shall also set forth the number of shares of Common Stock to be issued for each $1,000 principal amount of Notes and the Closing Sale Price on each Trading Day during the period during which the Market Price is calculated, and the Company shall disseminate such information as soon as practicable after determination thereof by Public Notice. If conditions are not satisfied prior to or on the Purchase Date and the Company has elected to purchase the Notes to be purchased as of such Purchase Date pursuant to this Section\n4.1 through the issuance of shares of Common Stock, the Company shall pay the entire Purchase Price in respect of such Notes in cash.", "size": 17, "hash": "acf3ecb973174ae5b14f188e22d32d6c", "id": 1}, {"snippet_links": [{"key": "termination-of-the-option", "type": "clause", "offset": [13, 38]}, {"key": "in-accordance-with", "type": "definition", "offset": [39, 57]}, {"key": "section-11", "type": "definition", "offset": [58, 68]}, {"key": "pursuant-to-section", "type": "definition", "offset": [114, 133]}, {"key": "pursuant-to-the", "type": "clause", "offset": [150, 165]}, {"key": "section-9", "type": "clause", "offset": [190, 199]}, {"key": "the-right", "type": "clause", "offset": [221, 230]}, {"key": "business-days", "type": "clause", "offset": [247, 260]}, {"key": "notice-to-the-company", "type": "definition", "offset": [276, 297]}, {"key": "require-the", "type": "clause", "offset": [302, 313]}, {"key": "put-right", "type": "definition", "offset": [365, 374]}, {"key": "cash-purchase-price", "type": "definition", "offset": [382, 401]}, {"key": "put-price", "type": "definition", "offset": [408, 417]}, {"key": "equal-to", "type": "definition", "offset": [420, 428]}, {"key": "the-product", "type": "clause", "offset": [429, 440]}, {"key": "number-of-optioned-shares", "type": "clause", "offset": [475, 500]}, {"key": "the-excess", "type": "clause", "offset": [634, 644]}, {"key": "in-cash", "type": "definition", "offset": [699, 706]}, {"key": "securities-or-other-property", "type": "clause", "offset": [731, 759]}, {"key": "exercise-of-the-put", "type": "clause", "offset": [862, 881]}, {"key": "owned-by", "type": "definition", "offset": [930, 938]}, {"key": "any-person", "type": "definition", "offset": [939, 949]}, {"key": "beneficial-owner", "type": "clause", "offset": [988, 1004]}, {"key": "shares-of-company", "type": "clause", "offset": [1039, 1056]}, {"key": "date-hereof", "type": "clause", "offset": [1080, 1091]}, {"key": "during-the-measurement-period", "type": "clause", "offset": [1149, 1178]}, {"key": "the-company-common-stock", "type": "clause", "offset": [1222, 1246]}, {"key": "period-ending", "type": "definition", "offset": [1265, 1278]}, {"key": "trading-day", "type": "definition", "offset": [1286, 1297]}, {"key": "written-notice-of-exercise", "type": "clause", "offset": [1324, 1350]}], "samples": [{"hash": "gYJ54blhpBu", "uri": "/contracts/gYJ54blhpBu#optional-put", "label": "Stock Option Agreement (Adc Telecommunications Inc)", "score": 16.0, "published": true}, {"hash": "fV0SRhbxBQ2", "uri": "/contracts/fV0SRhbxBQ2#optional-put", "label": "Stock Option Agreement (Adc Telecommunications Inc)", "score": 16.0, "published": true}], "snippet": "Prior to the termination of the Option in accordance with Section 11 hereof, if the Option has become exercisable pursuant to Section 1(b) hereof and pursuant to the second sentence of this Section 9, Optionee shall have the right, upon three (3) business days' prior written notice to the Company, to require the Company to purchase the Option from Optionee (the \"PUT RIGHT\") at a cash purchase price (the \"PUT PRICE\") equal to the product determined by multiplying (A) the number of Optioned Shares as to which the Option has not yet been exercised by (B) the Spread (as defined below). As used herein, the term \"SPREAD\" shall mean the excess, if any, of (i) the greater of (x) the highest price (in cash or fair market value of securities or other property) per share of Company Common stock paid or to be paid within twelve (12) months preceding the date of exercise of the Put Right for any Company Common Stock beneficially owned by any Person who shall have acquired or become the beneficial owner of 20% or more of the outstanding shares of Company Common Stock after the date hereof or (y) the weighted (by volume of shares traded each day during the measurement period described herein) average closing price of the Company Common Stock during the 15-day period ending on the trading day immediately preceding the written notice of exercise of the Put Right over (ii)", "size": 4, "hash": "2a71a7404877aa2e55d4783bf3fac874", "id": 2}, {"snippet_links": [{"key": "on-december", "type": "clause", "offset": [0, 11]}, {"key": "march-15", "type": "clause", "offset": [22, 30]}, {"key": "optional-repurchase-date", "type": "definition", "offset": [127, 151]}, {"key": "the-right", "type": "clause", "offset": [178, 187]}, {"key": "optional-repurchase-right", "type": "definition", "offset": [199, 224]}, {"key": "the-holder", "type": "clause", "offset": [231, 241]}, {"key": "require-the", "type": "clause", "offset": [255, 266]}, {"key": "exercise-of", "type": "clause", "offset": [303, 314]}, {"key": "such-right", "type": "definition", "offset": [315, 325]}, {"key": "the-company-shall", "type": "clause", "offset": [326, 343]}, {"key": "the-principal-amount", "type": "definition", "offset": [445, 465]}, {"key": "equal-to", "type": "definition", "offset": [482, 490]}, {"key": "integral-multiple", "type": "definition", "offset": [504, 521]}, {"key": "as-directed", "type": "definition", "offset": [530, 541]}, {"key": "section-113", "type": "clause", "offset": [569, 581]}, {"key": "provided-that", "type": "clause", "offset": [583, 596]}, {"key": "a-purchase", "type": "definition", "offset": [801, 811]}, {"key": "in-cash", "type": "definition", "offset": [818, 825]}, {"key": "the-debentures", "type": "clause", "offset": [867, 881]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [905, 932]}, {"key": "contingent-interest", "type": "definition", "offset": [944, 963]}, {"key": "optional-repurchase-price", "type": "definition", "offset": [1012, 1037]}], "samples": [{"hash": "6cb5K3xEY3n", "uri": "/contracts/6cb5K3xEY3n#optional-put", "label": "Indenture (Apogent Technologies Inc)", "score": 21.0, "published": true}], "snippet": "On December 15, 2008, March 15, 2010, December 15, 2014, December 15, 2019, December 15, 2024 and December 15, 2029 (each, an \u201cOptional Repurchase Date\u201d), each Holder shall have the right (each, an \u201cOptional Repurchase Right\u201d), at the Holder\u2019s option, to require the Company to repurchase, and upon the exercise of such right the Company shall repurchase, all of such Holder\u2019s Debentures not theretofore called for redemption, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple thereof as directed by such Holder pursuant to Section 11.3 (provided that no single Debenture may be repurchased in part unless the portion of the principal amount of such Debenture to be Outstanding after such repurchase is equal to $1,000 or an integral multiple thereof), at a purchase price in cash equal to 100% of the principal amount of the Debentures to be repurchased plus accrued and unpaid Interest, including Contingent Interest, if any, on such Optional Repurchase Date (the \u201cOptional Repurchase Price\u201d).", "size": 3, "hash": "80298a89b0b9ad3f7bc477d5393d5428", "id": 3}, {"snippet_links": [{"key": "section-42", "type": "clause", "offset": [3, 14]}, {"key": "effect-of-purchase-notice", "type": "clause", "offset": [15, 40]}, {"key": "withdrawal-of-purchase-notice", "type": "clause", "offset": [42, 71]}, {"key": "section-43", "type": "clause", "offset": [123, 134]}, {"key": "deposit-of-purchase-price", "type": "clause", "offset": [135, 160]}, {"key": "section-44", "type": "clause", "offset": [193, 204]}, {"key": "notes-purchased-in-part", "type": "clause", "offset": [205, 228]}, {"key": "table-of-contents", "type": "definition", "offset": [263, 280]}], "samples": [{"hash": "dQgJzJ2BjCn", "uri": "/contracts/dQgJzJ2BjCn#optional-put", "label": "Indenture (Greenbrier Companies Inc)", "score": 18.0, "published": true}], "snippet": "30 Section 4.2 Effect of Purchase Notice; Withdrawal of Purchase Notice................................................ 33 Section 4.3 Deposit of Purchase Price............................. 33 Section 4.4 Notes Purchased in Part............................... 34 TABLE OF CONTENTS (continued)", "size": 3, "hash": "0f2cdedf360573fe26888fc3c2929832", "id": 4}, {"snippet_links": [{"key": "termination-of-the-option", "type": "clause", "offset": [13, 38]}, {"key": "in-accordance-with", "type": "definition", "offset": [39, 57]}, {"key": "section-12", "type": "definition", "offset": [58, 68]}, {"key": "pursuant-to-section", "type": "definition", "offset": [114, 133]}, {"key": "pursuant-to-the", "type": "clause", "offset": [150, 165]}, {"key": "section-10", "type": "definition", "offset": [190, 200]}, {"key": "the-right", "type": "clause", "offset": [222, 231]}, {"key": "business-days", "type": "clause", "offset": [248, 261]}, {"key": "notice-to-the-company", "type": "definition", "offset": [277, 298]}, {"key": "require-the", "type": "clause", "offset": [303, 314]}, {"key": "put-right", "type": "definition", "offset": [366, 375]}, {"key": "cash-purchase-price", "type": "definition", "offset": [383, 402]}, {"key": "put-price", "type": "definition", "offset": [409, 418]}, {"key": "equal-to", "type": "definition", "offset": [421, 429]}, {"key": "the-product", "type": "clause", "offset": [430, 441]}, {"key": "number-of-optioned-shares", "type": "clause", "offset": [476, 501]}, {"key": "the-excess", "type": "clause", "offset": [635, 645]}, {"key": "in-cash", "type": "definition", "offset": [700, 707]}, {"key": "securities-or-other-property", "type": "clause", "offset": [732, 760]}, {"key": "exercise-of-the-put", "type": "clause", "offset": [891, 910]}, {"key": "company-ordinary-shares", "type": "clause", "offset": [925, 948]}, {"key": "owned-by", "type": "definition", "offset": [997, 1005]}, {"key": "any-person", "type": "definition", "offset": [1006, 1016]}, {"key": "beneficial-owner", "type": "clause", "offset": [1055, 1071]}, {"key": "outstanding-company", "type": "clause", "offset": [1094, 1113]}, {"key": "date-hereof", "type": "clause", "offset": [1175, 1186]}, {"key": "represented-by", "type": "definition", "offset": [1228, 1242]}, {"key": "during-the-measurement-period", "type": "clause", "offset": [1264, 1293]}, {"key": "of-the-company", "type": "clause", "offset": [1334, 1348]}, {"key": "period-ending", "type": "definition", "offset": [1403, 1416]}, {"key": "trading-day", "type": "definition", "offset": [1424, 1435]}, {"key": "written-notice-of-exercise", "type": "clause", "offset": [1462, 1488]}], "samples": [{"hash": "4Insbsmo0vK", "uri": "/contracts/4Insbsmo0vK#optional-put", "label": "Stock Option Agreement (Adc Telecommunications Inc)", "score": 16.0, "published": true}, {"hash": "2lUPr4ECKl8", "uri": "/contracts/2lUPr4ECKl8#optional-put", "label": "Stock Option Agreement (Adc Telecommunications Inc)", "score": 16.0, "published": true}], "snippet": "Prior to the termination of the Option in accordance with Section 12 hereof, if the Option has become exercisable pursuant to Section 2(b) hereof and pursuant to the second sentence of this Section 10, Optionee shall have the right, upon three (3) business days' prior written notice to the Company, to require the Company to purchase the Option from Optionee (the \"PUT RIGHT\") at a cash purchase price (the \"PUT PRICE\") equal to the product determined by multiplying (A) the number of Optioned Shares as to which the Option has not yet been exercised by (B) the Spread (as defined below). As used herein, the term \"SPREAD\" shall mean the excess, if any, of (i) the greater of (x) the highest price (in cash or fair market value of securities or other property) per Company Ordinary Share (whether or not evidenced by ADRs) paid or to be paid within twelve (12) months preceding the date of exercise of the Put Right for any Company Ordinary Shares (whether or not evidenced by ADRs) beneficially owned by any Person who shall have acquired or become the beneficial owner of 20% or more of the outstanding Company Ordinary Shares (whether or not evidenced by ADRs) after the date hereof or (y) the weighted (by volume of shares represented by ADRs traded each day during the measurement period described herein) average closing price of the Company Ordinary Shares (evidenced by ADRs) during the 15-day period ending on the trading day immediately preceding the written notice of exercise of the Put Right over (ii)", "size": 2, "hash": "c39389cbe568363710a0783d5515f55e", "id": 5}, {"snippet_links": [{"key": "termination-of-the-option", "type": "clause", "offset": [13, 38]}, {"key": "in-accordance-with", "type": "definition", "offset": [39, 57]}, {"key": "section-19", "type": "definition", "offset": [58, 68]}, {"key": "other-conditions", "type": "definition", "offset": [135, 151]}, {"key": "the-right", "type": "clause", "offset": [205, 214]}, {"key": "business-days", "type": "clause", "offset": [227, 240]}, {"key": "notice-to-the-company", "type": "definition", "offset": [256, 277]}, {"key": "require-the", "type": "clause", "offset": [282, 293]}, {"key": "put-right", "type": "definition", "offset": [343, 352]}, {"key": "cash-purchase-price", "type": "definition", "offset": [360, 379]}, {"key": "put-price", "type": "definition", "offset": [386, 395]}, {"key": "equal-to", "type": "definition", "offset": [398, 406]}, {"key": "the-product", "type": "clause", "offset": [407, 418]}, {"key": "number-of-optioned-shares", "type": "clause", "offset": [453, 478]}, {"key": "the-excess", "type": "clause", "offset": [612, 622]}, {"key": "in-cash", "type": "definition", "offset": [677, 684]}, {"key": "securities-or-other-property", "type": "clause", "offset": [709, 737]}, {"key": "exercise-of-the-put", "type": "clause", "offset": [831, 850]}, {"key": "shares-of-company", "type": "clause", "offset": [865, 882]}, {"key": "owned-by", "type": "definition", "offset": [909, 917]}, {"key": "any-person", "type": "definition", "offset": [918, 928]}, {"key": "beneficial-owner", "type": "clause", "offset": [967, 983]}, {"key": "outstanding-shares", "type": "clause", "offset": [1006, 1024]}, {"key": "date-hereof", "type": "clause", "offset": [1059, 1070]}, {"key": "sales-prices", "type": "clause", "offset": [1111, 1123]}, {"key": "the-company-common-stock", "type": "clause", "offset": [1137, 1161]}, {"key": "trading-days", "type": "definition", "offset": [1178, 1190]}, {"key": "written-notice-of-exercise", "type": "clause", "offset": [1217, 1243]}], "samples": [{"hash": "il0X5hzC6au", "uri": "/contracts/il0X5hzC6au#optional-put", "label": "Stock Option Agreement (Tellabs Inc)", "score": 16.0, "published": true}, {"hash": "a7I0HRo1dl0", "uri": "/contracts/a7I0HRo1dl0#optional-put", "label": "Stock Option Agreement (Ciena Corp)", "score": 16.0, "published": true}], "snippet": "Prior to the termination of the Option in accordance with Section 19, if any event set forth in Section 2(a)(iii) has occurred and the other conditions set forth in Section 2(a) are met, Parent shall have the right, upon three business days' prior written notice to the Company, to require the Company to purchase the Option from Parent (the \"Put Right\") at a cash purchase price (the \"Put Price\") equal to the product determined by multiplying (A) the number of Optioned Shares as to which the Option has not yet been exercised by (B) the Spread (as defined below). As used herein, the term \"Spread\" shall mean the excess, if any, of (i) the greater of (x) the highest price (in cash or fair market value of securities or other property) per share of Company Common Stock paid or to be paid within 12 months preceding the date of exercise of the Put Right for any shares of Company Common Stock beneficially owned by any Person who shall have acquired or become the beneficial owner of 20% or more of the outstanding shares of Company Common Stock after the date hereof or (y) the average of the last reported sales prices on NASDAQ of the Company Common Stock during the five trading days immediately preceding the written notice of exercise of the Put Right over (ii)", "size": 2, "hash": "52ae68175be2ce759154750383490565", "id": 6}, {"snippet_links": [{"key": "by-the-company", "type": "clause", "offset": [34, 48]}, {"key": "the-option", "type": "clause", "offset": [53, 63]}, {"key": "in-accordance-with", "type": "definition", "offset": [87, 105]}, {"key": "the-provisions-of", "type": "clause", "offset": [106, 123]}, {"key": "paragraph-6", "type": "clause", "offset": [124, 135]}, {"key": "the-securities", "type": "definition", "offset": [139, 153]}, {"key": "on-march", "type": "clause", "offset": [154, 162]}, {"key": "purchase-date", "type": "clause", "offset": [204, 217]}, {"key": "purchase-price", "type": "definition", "offset": [225, 239]}, {"key": "in-cash", "type": "definition", "offset": [240, 247]}, {"key": "equal-to", "type": "definition", "offset": [248, 256]}, {"key": "the-principal-amount", "type": "definition", "offset": [265, 285]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [312, 339]}, {"key": "contingent-interest", "type": "definition", "offset": [351, 370]}, {"key": "additional-interest", "type": "definition", "offset": [384, 403]}, {"key": "the-purchase", "type": "clause", "offset": [436, 448]}, {"key": "subject-to", "type": "definition", "offset": [478, 488]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [502, 520]}, {"key": "the-holder", "type": "clause", "offset": [521, 531]}, {"key": "the-requirements", "type": "clause", "offset": [535, 551]}], "samples": [{"hash": "1mkHroZCXbI", "uri": "/contracts/1mkHroZCXbI#optional-put", "label": "Indenture (Unisource Energy Corp)", "score": 18.0, "published": true}], "snippet": "(a) Securities shall be purchased by the Company, at the option of any Holder thereof, in accordance with the provisions of paragraph 6 of the Securities on March 1 of 2015, 2020, 2025 and 2030 (each, a \"PURCHASE DATE\") at a purchase price in cash equal to 100% of the principal amount of those Securities, plus accrued and unpaid interest (including Contingent Interest, if any, and Additional Interest, if any) to, but not including, the Purchase Date (the \"PURCHASE PRICE\"), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 4.1(c).", "size": 2, "hash": "1d2bf2c7672c905270344f3aaa4a3237", "id": 7}, {"snippet_links": [{"key": "by-the-company", "type": "clause", "offset": [36, 50]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [52, 79]}, {"key": "on-february", "type": "clause", "offset": [89, 100]}, {"key": "repurchase-date", "type": "clause", "offset": [142, 157]}, {"key": "repurchase-price", "type": "definition", "offset": [166, 182]}, {"key": "in-cash", "type": "definition", "offset": [183, 190]}, {"key": "equal-to", "type": "definition", "offset": [191, 199]}, {"key": "accreted-principal-amount", "type": "definition", "offset": [212, 237]}, {"key": "the-securities", "type": "definition", "offset": [241, 255]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [279, 306]}, {"key": "additional-interest", "type": "definition", "offset": [326, 345]}, {"key": "but-excluding", "type": "clause", "offset": [360, 373]}, {"key": "subject-to", "type": "definition", "offset": [422, 432]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [446, 464]}, {"key": "the-requirements", "type": "clause", "offset": [479, 495]}, {"key": "the-security", "type": "clause", "offset": [683, 695]}, {"key": "the-relevant", "type": "clause", "offset": [714, 726]}, {"key": "holder-of-record", "type": "clause", "offset": [762, 778]}, {"key": "close-of-business", "type": "clause", "offset": [786, 803]}, {"key": "regular-record-date", "type": "definition", "offset": [825, 844]}], "samples": [{"hash": "gA7G6Hvs1hM", "uri": "/contracts/gA7G6Hvs1hM#optional-put", "label": "Indenture (Arvinmeritor Inc)", "score": 21.0, "published": true}], "snippet": "(i) Securities shall be repurchased by the Company, at the option of the Holder thereof, on February 15, 2019 and February 15, 2022 (each, a \u201cRepurchase Date\u201d), at a repurchase price in Cash equal to 100% of the Accreted Principal Amount of the Securities to be repurchased plus accrued and unpaid interest, if any (including Additional Interest, if any), to, but excluding, such Repurchase Date (the \u201cRepurchase Price\u201d), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 3.08(a)(iii), provided, however, that any such accrued and unpaid interest, if any (including Additional Interest, if any), will be paid not to the Holder submitting the Security for repurchase on the relevant Repurchase Date but instead to the Holder of record at the close of business on the corresponding Regular Record Date.", "size": 2, "hash": "a8336a4ac194d415e3f898edf11927e5", "id": 8}, {"snippet_links": [{"key": "section-42", "type": "clause", "offset": [3, 14]}, {"key": "effect-of-purchase-notice", "type": "clause", "offset": [16, 41]}, {"key": "withdrawal-of-purchase-notice", "type": "clause", "offset": [43, 72]}, {"key": "section-43", "type": "clause", "offset": [106, 117]}, {"key": "deposit-of-purchase-price", "type": "clause", "offset": [119, 144]}, {"key": "section-44", "type": "clause", "offset": [209, 220]}, {"key": "certificated-securities-purchased-in-part", "type": "clause", "offset": [222, 263]}, {"key": "section-45", "type": "clause", "offset": [312, 323]}, {"key": "covenant-to-comply-with-securities-laws-upon-purchase-of-notes", "type": "clause", "offset": [325, 387]}, {"key": "section-46", "type": "clause", "offset": [415, 426]}, {"key": "repayment-to-the-company", "type": "clause", "offset": [428, 452]}, {"key": "section-47", "type": "clause", "offset": [518, 529]}, {"key": "no-purchase-upon-event-of-default", "type": "clause", "offset": [531, 564]}], "samples": [{"hash": "lTN0dFmE5Tz", "uri": "/contracts/lTN0dFmE5Tz#optional-put", "label": "Indenture (Cray Inc)", "score": 18.0, "published": true}], "snippet": "30 Section 4.2. Effect of Purchase Notice; Withdrawal of Purchase Notice.............................. 33 Section 4.3. Deposit of Purchase Price............................................................. 33 Section 4.4. Certificated Securities Purchased in Part............................................. 34 Section 4.5. Covenant to Comply With Securities Laws Upon Purchase of Notes........................ 34 Section 4.6. Repayment to the Company.............................................................. 34 Section 4.7. No Purchase Upon Event of Default..................................................... 34", "size": 1, "hash": "797b08278824f7c728e2570ede4a2520", "id": 9}, {"snippet_links": [{"key": "by-the-company", "type": "clause", "offset": [36, 50]}, {"key": "at-the-option-of-the-holder", "type": "clause", "offset": [52, 79]}, {"key": "november-15", "type": "clause", "offset": [92, 103]}, {"key": "repurchase-date", "type": "clause", "offset": [161, 176]}, {"key": "repurchase-price", "type": "definition", "offset": [185, 201]}, {"key": "in-cash", "type": "definition", "offset": [202, 209]}, {"key": "equal-to", "type": "definition", "offset": [210, 218]}, {"key": "the-principal-amount", "type": "definition", "offset": [227, 247]}, {"key": "the-securities", "type": "definition", "offset": [251, 265]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [318, 345]}, {"key": "but-excluding", "type": "clause", "offset": [358, 371]}, {"key": "subject-to", "type": "definition", "offset": [420, 430]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [444, 462]}, {"key": "the-requirements", "type": "clause", "offset": [477, 493]}, {"key": "the-security", "type": "clause", "offset": [641, 653]}, {"key": "the-relevant", "type": "clause", "offset": [672, 684]}, {"key": "holder-of-record", "type": "clause", "offset": [720, 736]}, {"key": "close-of-business", "type": "clause", "offset": [744, 761]}, {"key": "record-date", "type": "definition", "offset": [783, 794]}, {"key": "prior-to", "type": "definition", "offset": [832, 840]}, {"key": "the-company-shall", "type": "clause", "offset": [863, 880]}, {"key": "the-repurchase-right", "type": "clause", "offset": [906, 926]}, {"key": "purchase-offer", "type": "clause", "offset": [956, 970]}, {"key": "to-the-trustee", "type": "clause", "offset": [993, 1007]}, {"key": "beneficial-owners", "type": "definition", "offset": [1035, 1052]}, {"key": "as-required-by", "type": "clause", "offset": [1053, 1067]}, {"key": "applicable-law", "type": "clause", "offset": [1068, 1082]}, {"key": "the-notice", "type": "clause", "offset": [1085, 1095]}, {"key": "by-the-holder", "type": "clause", "offset": [1143, 1156]}, {"key": "in-the-event", "type": "clause", "offset": [1185, 1197]}, {"key": "right-to", "type": "definition", "offset": [1226, 1234]}], "samples": [{"hash": "dHSvrf2CAJ", "uri": "/contracts/dHSvrf2CAJ#optional-put", "label": "First Supplemental Indenture (Arris Group Inc)", "score": 24.2881587953, "published": true}], "snippet": "(i) Securities shall be repurchased by the Company, at the option of the Holder thereof, on November 15, 2013, November 15, 2016 and November 15, 2021 (each, a \u201cRepurchase Date\u201d), at a repurchase price in cash equal to 100% of the principal amount of the Securities to be repurchased (without premium or penalty) plus accrued and unpaid interest, if any to, but excluding, such Repurchase Date (the \u201cRepurchase Price\u201d), subject to satisfaction by or on behalf of the Holder of the requirements set forth in Section 3.08(A)(iii), provided, however, that any such accrued and unpaid interest, if any, will be paid not to the Holder submitting the Security for repurchase on the relevant Repurchase Date but instead to the Holder of record at the close of business on the corresponding record date.\n(ii) No later than 20 Business Days prior to each Repurchase Date, the Company shall mail a written notice of the repurchase right under Section 3.08(A)(i) (a \u201cPurchase Offer\u201d) by first class mail to the Trustee and to each Holder (and to beneficial owners as required by applicable law). The notice shall include a form of notice to be completed by the Holder and returned to the Company in the event that the Holder elects such right to such repurchase and shall briefly state, as applicable:", "size": 1, "hash": "7939eb768be93765af556e14a85cfdea", "id": 10}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVvcHRpb25hbC1wdXQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["purchase-at-the-option-of-holders-on-specific-dates", "Purchase at the Option of Holders on Specific Dates"], ["repurchase-of-securities-at-the-option-of-holders", "Repurchase of Securities at the Option of Holders"], ["redemption-and-repurchase", "Redemption and Repurchase"], ["miscellaneous", "Miscellaneous"], ["repurchase-at-the-option-of-holders", "Repurchase at the Option of Holders"]], "children": [["effect-of-purchase-notice", "Effect of Purchase Notice"], ["deposit-of-purchase-price", "Deposit of Purchase Price"], ["purchase-notice", "Purchase Notice"], ["securities-purchased-in-part", "Securities Purchased in Part"], ["optional-put", "Optional Put"]], "size": 38, "title": "Optional Put", "id": "optional-put", "related": [["optional-purchase", "Optional Purchase", "Optional Purchase"], ["optional-purchase-of-trust-estate", "Optional Purchase of Trust Estate", "Optional Purchase of Trust Estate"], ["optional-redemption-upon-equity-offerings", "Optional Redemption upon Equity Offerings", "Optional Redemption upon Equity Offerings"], ["optional-repurchase", "Optional Repurchase", "Optional Repurchase"], ["optional-purchase-of-defaulted-mortgage-loans", "Optional Purchase of Defaulted Mortgage Loans", "Optional Purchase of Defaulted Mortgage Loans"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": [], "drafting_tip": null, "explanation": "An Optional Put clause grants one party the right, but not the obligation, to require the other party to purchase a specified asset or interest at a predetermined price or under certain conditions. In practice, this means that if certain events occur\u2014such as a change in control, default, or at the holder's discretion\u2014the holder can compel the counterparty to buy back shares, bonds, or other assets. This clause provides the holder with flexibility and a guaranteed exit strategy, thereby managing risk and ensuring liquidity in uncertain or changing circumstances."}, "json": true, "cursor": ""}}