Under what circumstances can a bull receive an indulto, or pardon, in a corrida?

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In the context of a corrida, an indulto (pardon) is a rare occurrence granted to a bull that has demonstrated exceptional bravery throughout the spectacle.1

When a bull displays such extraordinary courage, the audience may petition the president of the bullring to spare the animal's life by waving white handkerchiefs. If the president agrees, they signal the pardon by waving an orange handkerchief.1

Upon the granting of an indulto:
* The final kill is not performed; instead, it is simulated using a banderilla or an empty hand.1
* The bull is spared from death in the arena and is subsequently put out to stud to breed.1