Mandatory Purchase definition

Mandatory Purchase means the mandatory purchase of Outstanding shares of a Series of VRDP Shares by the Liquidity Provider pursuant to the VRDP Shares Purchase Agreement in connection with a Mandatory Purchase Event.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Mandatory Purchase means the mandatory purchase of Outstanding VRDP Shares by the Liquidity Provider pursuant to the VRDP Purchase Agreement in connection with a Mandatory Purchase Event.

Mandatory Purchase means the mandatory purchase of Outstanding VRDP Shares by the Liquidity Provider pursuant to this Agreement in connection with a Mandatory Purchase Event.

Examples of Mandatory Purchase in a sentence

• In the case of a Mandatory Purchase, the Liquidity Provider shall be obligated to purchase all Outstanding VRDP Shares.

• The use of any funds provided for acquisition or construction in identified areas shall be subject to the Mandatory Purchase of Flood Insurance requirements of section 102(a) of said act.

• The Tender and Paying Agent shall have no duty to determine the occurrence or continuance of any event or events that constitute a Liquidity Provider Ratings Event, Mandatory Tender Event, Mandatory Purchase Event, Failed Remarketing Condition, Failed Remarketing Condition—Purchased VRDP Shares Redemption or Related Party Termination Event, or to determine whether any agreement satisfies the requirements of an Alternate VRDP Shares Purchase Agreement.

• Any Substitute Credit Facility shall be delivered to the Trustee prior to such Mandatory Purchase Date and shall be effective on and after such Mandatory Purchase Date.

• The notice shall state the Mandatory Purchase Date, the Purchase Price and that interest on Bonds subject to mandatory purchase shall cease to accrue from and after the Mandatory Purchase Date.

More Definitions of Mandatory Purchase

Mandatory Purchase means the same as that term is defined in the Indenture.

Mandatory Purchase means the purchase of Listed Shares pursuant to Section 2.

Mandatory Purchase means, with respect to a Series, any purchase of Bonds of such Series required by Section 306 or a Supplemental Indenture to occur on a Mandatory Tender Date.

Mandatory Purchase means the mandatory purchase of all or a portion of the Eligible Bonds pursuant to Section 5.2 of the Indenture, at a price equal to the principal amount thereof plus, if the date of Mandatory Purchase is other than an Interest Payment Date for such Bonds, accrued interest thereon.

Mandatory Purchase means the mandatory purchase of Outstanding VRDM Shares by the Liquidity Provider pursuant to the VRDM Purchase Agreement in connection with a Mandatory Purchase Event.

Mandatory Purchase shall have the meaning set forth in Section 2.1(a) hereof.

Mandatory Purchase means the mandatory purchase of Outstanding LEARS by the Liquidity Provider pursuant to the LEARS Purchase Agreement in connection with a Mandatory Purchase Event.