Request for Purchase definition
Examples of Request for Purchase in a sentence
By 11:00 a.m. on the next Business Day after New York Life provides interest rate spread quotes pursuant to Section 2.6 or such shorter period as New York Life may specify to the Company (such period, the “Acceptance Window”), the Company may, subject to Section 2.8, elect to accept those quotes as to not less than $10,000,000 aggregate principal amount of the Shelf Notes specified in the related Request for Purchase.
Before and after giving effect to the issue and sale of the Notes to be purchased at such Closing (and the application of the proceeds thereof as contemplated by Section 5.14, in the case of the Series C Notes, and the relevant Request for Purchase, in the case of any Shelf Notes), no Default or Event of Default shall have occurred and be continuing.
The Company will apply the proceeds of the sale of any Shelf Notes as set forth in the relevant Request for Purchase.
Spreads quoted for Shelf Notes shall be spreads over U.S. Treasury securities closest to the maturities specified in the Request for Purchase or an interpolated maturity.
The amount and content of information to be provided is in the sole discretion of New York Life, but it is the intent of New York Life to provide information that will be of use to the Company in determining whether to submit a Request for Purchase under Section 2.5. The delivery of the information requested is not an offer to purchase Shelf Notes, and neither New York Life nor any New York Life Affiliate is obligated to purchase Shelf Notes at the spreads specified.