Common use of Purchase of Bonds Clause in Contracts

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 Bonds except (a) upon the payment or prepayment of the 2021 Bonds in accordance with this Fourteenth Supplemental Indenture and the 2021 Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 Bonds pursuant to this Fourteenth Supplemental Indenture and no 2021 Bonds may be issued in substitution or exchange for any such 2021 Bonds.

Appears in 2 contracts

Samples: Fourteenth Supplemental Indenture (Texas New Mexico Power Co), Bond Purchase Agreement (Public Service Co of New Mexico)

AutoNDA by SimpleDocs

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2017A Bonds except (a) upon the payment or prepayment of the 2021 2017A Bonds in accordance with this Fourteenth Eighth Supplemental Indenture and the 2021 2017A Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2017A Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2017A Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2017A Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2017A Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2017A Bonds pursuant to this Fourteenth Eighth Supplemental Indenture and no 2021 2017A Bonds may be issued in substitution or exchange for any such 2021 2017A Bonds.

Appears in 1 contract

Samples: Eighth Supplemental Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2018A Bonds except (a) upon the payment or prepayment of the 2021 2018A Bonds in accordance with this Fourteenth Ninth Supplemental Indenture and the 2021 2018A Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2018A Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2018A Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2018A Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2018A Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2018A Bonds pursuant to this Fourteenth Ninth Supplemental Indenture and no 2021 2018A Bonds may be issued in substitution or exchange for any such 2021 2018A Bonds.

Appears in 1 contract

Samples: Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2014A Bonds except (a) upon the payment or prepayment of the 2021 2014A Bonds in accordance with this Fourteenth Sixth Supplemental Indenture and the 2021 2014A Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2014A Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) 10 Business Days. If the Holders of more than fifty percent (50%) % of the principal amount of the 2021 2014A Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2014A Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) 5 Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2014A Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2014A Bonds pursuant to this Fourteenth Sixth Supplemental Indenture and no 2021 2014A Bonds may be issued in substitution or exchange for any such 2021 2014A Bonds.

Appears in 1 contract

Samples: Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2019 Bonds except (a) upon the payment or prepayment of the 2021 2019 Bonds in accordance with this Fourteenth Eleventh Supplemental Indenture and the 2021 2019 Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2019 Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2019 Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 2019 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2019 Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2019 Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2019 Bonds pursuant to this Fourteenth Eleventh Supplemental Indenture and no 2021 2019 Bonds may be issued in substitution or exchange for any such 2021 2019 Bonds.

Appears in 1 contract

Samples: Eleventh Supplemental Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2014A Bonds except (a) upon the payment or prepayment of the 2021 2014A Bonds in accordance with this Fourteenth Sixth Supplemental Indenture and the 2021 2014A Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2014A Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) 10 Business Days. If the Holders of more than fifty percent (50%) % of the principal amount of the 2021 2014A Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of 199277.16 such fact and the expiration date for the acceptance by Holders of 2021 2014A Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) 5 Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2014A Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2014A Bonds pursuant to this Fourteenth Sixth Supplemental Indenture and no 2021 2014A Bonds may be issued in substitution or exchange for any such 2021 2014A Bonds.

Appears in 1 contract

Samples: Bond Purchase Agreement (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2022 Bonds except (a) upon the payment or prepayment of the 2021 2022 Bonds in accordance with this Fourteenth Seventeenth Supplemental Indenture and the 2021 2022 Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2022 Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2022 Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 2022 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2022 Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2022 Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2022 Bonds pursuant to this Fourteenth Seventeenth Supplemental Indenture and no 2021 2022 Bonds may be issued in substitution or exchange for any such 2021 2022 Bonds.

Appears in 1 contract

Samples: Supplemental Indenture (Texas New Mexico Power Co)

AutoNDA by SimpleDocs

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2023 Bonds except (a) upon the payment or prepayment of the 2021 2023 Bonds in accordance with this Fourteenth Nineteenth Supplemental Indenture and the 2021 2023 Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2023 Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2023 Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 2023 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2023 Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2023 Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2023 Bonds pursuant to this Fourteenth Nineteenth Supplemental Indenture and no 2021 2023 Bonds may be issued in substitution or exchange for any such 2021 2023 Bonds.

Appears in 1 contract

Samples: Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2022 Bonds except (a) upon the payment or prepayment of the 2021 2022 Bonds in accordance with this Fourteenth Fifteenth Supplemental Indenture and the 2021 2022 Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2022 Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) Business Days. If the Holders of more than fifty percent (50%) of the principal amount of the 2021 2022 Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 2022 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2022 Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2022 Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2022 Bonds pursuant to this Fourteenth Fifteenth Supplemental Indenture and no 2021 2022 Bonds may be issued in substitution or exchange for any such 2021 2022 Bonds.

Appears in 1 contract

Samples: Supplemental Indenture (Texas New Mexico Power Co)

Purchase of Bonds. The Company will not and will not permit any Subsidiary of the Company to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding 2021 2016A Bonds except (a) upon the payment or prepayment of the 2021 2016A Bonds in accordance with this Fourteenth Seventh Supplemental Indenture and the 2021 2016A Bonds or (b) pursuant to an offer to purchase made by the Company or a Subsidiary of the Company pro rata to the Holders of all 2021 2016A Bonds at the time outstanding upon the same terms and conditions. Any such offer shall provide each Holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least ten (10) 10 Business Days. If the Holders of more than fifty percent (50%) % of the principal amount of the 2021 2016A Bonds then outstanding accept such offer, the Company shall promptly notify the remaining Holders of 2021 Bonds of such fact and the expiration date for the acceptance by Holders of 2021 2016A Bonds of such offer shall be extended by the number of days necessary to give each such remaining Holder at least five (5) 5 Business Days from its receipt of such notice to accept such offer. The Company will promptly cancel all 2021 2016A Bonds acquired by it or any Subsidiary of the Company pursuant to any payment, prepayment or purchase of 2021 2016A Bonds pursuant to this Fourteenth Seventh Supplemental Indenture and no 2021 2016A Bonds may be issued in substitution or exchange for any such 2021 2016A Bonds.

Appears in 1 contract

Samples: Indenture (Texas New Mexico Power Co)

Time is Money Join Law Insider Premium to draft better contracts faster.