Common use of TO EXERCISE Clause in Contracts

TO EXERCISE. a Repurchase Right, a Holder shall deliver to the Company (if it is acting as its own Paying Agent) or to a Paying Agent designated by the Company for such purpose in the notice referred to above on or before the 30th day after the date of the Repurchase Right Notice, or, if such day is a Legal Holiday, the next subsequent day which is not a Legal Holiday, (i) written notice (which notice shall be deemed to be delivered when received) of the Holder's exercise of such right, which notice shall set forth the name of the Holder, the principal amount of Securities (or portions thereof) to be repurchased, a statement that an election to exercise the Repurchase Right is being made thereby, and (ii) the Securities with respect to which the Repurchase Right is being exercised, duly endorsed for transfer to the Company, and the Holder of such Securities shall be entitled to receive from the Company (if it is acting as its own Paying Agent) or such Paying Agent a non-transferable receipt of deposit evidencing such deposit. Such written notice shall be irrevocable, except as provided in Section 4.15(b) above. Interest on any Securities or portion thereof tendered for repurchase pursuant to a Repurchase Right will cease to accrue on and after the Repurchase Date.