Common use of Repurchase at Option of Holders Upon a Fundamental Change Clause in Contracts

Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof, on the date (the “Fundamental Change Purchase Date”) specified by the Company that is not less than 20 nor more than 35 Business Days following the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but not including, the Fundamental Change Purchase Date (the “Fundamental Change Purchase Price”), unless the Fundamental Change Purchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental Change Purchase Price shall be equal to 100% of the principal amount of Notes to be purchased pursuant to this Article 15.

Appears in 1 contract

Samples: Indenture (United States Steel Corp)

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Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Maturity Datetime, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $US$1,000 or an integral multiple of $1,000 in excess thereofUS$1,000, on the date Business Day (the “Fundamental Change Purchase Repurchase Date”) specified notified in writing by the Company as set forth in Section 15.02(c) that is not less than 20 nor Business Days or more than 35 Business Days following the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest Additional Interest, if any, thereon to, but not includingexcluding, the Fundamental Change Purchase Repurchase Date (the “Fundamental Change Purchase Repurchase Price”), unless the Fundamental Change Purchase Repurchase Date falls after a Regular an Additional Interest Record Date but on or prior to the Additional Interest Payment Date to which such Regular Additional Interest Record Date relates, in which case the Company shall instead pay on the Additional Interest Payment Date the full amount of accrued and unpaid interest Additional Interest, if any, to Holders of record as of such Regular Additional Interest Record Date, and the Fundamental Change Purchase Repurchase Price shall be equal to 100% of the principal amount of Notes to be purchased repurchased pursuant to this Article 15.. The Trustee and the Conversion Agent, Paying Agent or any other agent appointed for such purpose shall have no responsibility to determine the Fundamental Change Repurchase Price. ​ ​ ​

Appears in 1 contract

Samples: Indenture (NIO Inc.)

Repurchase at Option of Holders Upon a Fundamental Change. (aiv) If a Fundamental Change occurs at any time prior to the Maturity Datetime, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof1,000, on the date (the “Fundamental Change Purchase Repurchase Date”) specified by the Company that is not no less than 20 nor Business Days and no more than 35 Business Days following 40 calendar days after the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus any accrued and unpaid interest thereon to, but not including, the Fundamental Change Purchase Repurchase Date (the “Fundamental Change Purchase Repurchase Price”), unless the Fundamental Change Purchase Repurchase Date falls occurs after a Regular Record Date but and on or prior to the corresponding Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of such accrued and unpaid interest on such Interest Payment Date to Holders of record as of such Regular Record Date, and the Fundamental Change Purchase Repurchase Price shall be equal to 100% of the principal amount of Notes to be purchased repurchased pursuant to this Article 15. The Fundamental Change Repurchase Date shall be subject to postponement in order to allow the Company to comply with any change in applicable law after the date of this Indenture.

Appears in 1 contract

Samples: Indenture (Live Nation Entertainment, Inc.)

Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Maturity Datetime, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000 in excess thereof1,000, on the date (the “Fundamental Change Purchase Repurchase Date”) specified by the Company that is not no less than 20 nor Business Days and no more than 35 40 Business Days following after the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus any accrued and unpaid interest thereon to, but not including, the Fundamental Change Purchase Repurchase Date (the “Fundamental Change Purchase Repurchase Price”), unless . If the Fundamental Change Purchase Repurchase Date falls occurs after a Regular Record Date but and on or prior to the corresponding Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of such accrued and unpaid interest no later than the relevant Interest Payment Date to Holders of record as of on such Regular Record Date, and the Fundamental Change Purchase Repurchase Price shall be equal to 100% of the principal amount of Notes to be purchased repurchased pursuant to this Article 15. The Fundamental Change Repurchase Date shall be subject to postponement in order to allow the Company to comply with any change in applicable law or exchange requirements after the date of this Indenture. The Trustee, the Conversion Agent, Paying Agent or any other agent appointed for such purposes shall have no responsibility to determine the Fundamental Change Repurchase Price.

Appears in 1 contract

Samples: Xerox Corp

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Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Maturity Date, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to minimum denominations of $1,000 or an integral multiple of $1,000 in excess thereof1,000, on the date (the “Fundamental Change Purchase Repurchase Date”) specified by the Company that is not less than 20 nor calendar days or more than 35 Business Days calendar days following the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon to, but not includingexcluding, the Fundamental Change Purchase Repurchase Date (the “Fundamental Change Purchase Repurchase Price”), unless the Fundamental Change Purchase Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest to Holders of record as of such Regular Record Date, and the Fundamental Change Purchase Repurchase Price shall be equal to 100% of the principal amount of Notes to be purchased repurchased pursuant to this Article ‎Article 15; provided that the Company shall not be required to repurchase, or to make an offer to repurchase, the Notes upon a Fundamental Change if a third party makes such an offer in the same manner, at the same time and otherwise in compliance with the requirements for an offer made by the Company as set forth in this Section 15.02 and such third party purchases all Notes properly surrendered and not validly withdrawn under its offer in the same manner, at the same time and otherwise in compliance with the requirements for an offer made by the Company as set forth in this Section 15.02.

Appears in 1 contract

Samples: Granite Construction Incorporated and Wilmington Trust (Granite Construction Inc)

Repurchase at Option of Holders Upon a Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Maturity Datetime, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion of the principal amount thereof that is equal to $US$1,000 or an integral multiple of $1,000 in excess thereofUS$1,000, on the date Business Day (the “Fundamental Change Purchase Repurchase Date”) specified notified in writing by the Company as set forth in Section 15.02(c) that is not less than 20 nor Business Days or more than 35 Business Days following the date of the Fundamental Change Company Notice (subject to extension to comply with applicable law) or if we fail to specify a Fundamental Change Purchase Date, the 35th Business Day following the date of the Fundamental Change Company Notice (without prejudice to any rights or remedies the Holders may have on account of such failure), at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest interest, if any, thereon to, but not includingexcluding, the Fundamental Change Purchase Repurchase Date (the “Fundamental Change Purchase Repurchase Price”), unless the Fundamental Change Purchase Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay on the Interest Payment Date the full amount of accrued and unpaid interest interest, if any, to Holders of record as of such Regular Record Date, and the Fundamental Change Purchase Repurchase Price shall be equal to 100% of the principal amount of Notes to be purchased repurchased pursuant to this Article 15.. The Trustee and the Conversion Agent, Paying Agent or any other agent appointed for such purpose shall have no responsibility to determine the Fundamental Change Repurchase Price. ​

Appears in 1 contract

Samples: ZTO Express (Cayman) Inc.

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