Original Issue Discount Securities definition

Original Issue Discount Securities means any Securities that are initially sold at a discount from the principal amount thereof and that provide upon an Event of Default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration thereof.

Original Issue Discount Securities means a Security issued pursuant to this Indenture which provides for an amount less than the principal face amount thereof to be due and payable upon declaration of acceleration pursuant to Section 6.01. OUTSTANDING

Original Issue Discount Securities means Securities which provide for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 502.

Examples of Original Issue Discount Securities in a sentence

• Special United States federal income tax considerations applicable to Original Issue Discount Securities may be described in the applicable prospectus supplement.

• If an Event of Default with respect to Debt Securities occurs and is continuing, either the Trustee or the Holders of at least 25% in principal amount of the Debt Securities of that series by notice as provided in the Indenture may declare the principal amount (or, if the Debt Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all Debt Securities of that series to be due and payable immediately.

• If an Event of Default specified in Section 501(5) or 501(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable.

• Federal income tax consequences and other special considerations applicable to any such Original Issue Discount Securities will be described in the Prospectus Supplement relating thereto.

• If an Event of Default with respect to the Company specified in paragraph (e) or (f) of Section 6.01 occurs, the principal amount of (or, in the case of Original Issue Discount Securities of that Series, the portion thereby specified in the terms of such Security), premium, if any, and accrued and unpaid interest on all the Securities of each Series of Security shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.

More Definitions of Original Issue Discount Securities

Original Issue Discount Securities. The term "

Original Issue Discount Securities means any Securities which are initially sold at a discount from the principal amount thereof and which provide upon Event of Default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration thereof.

Original Issue Discount Securities means any Debt Securities which are initially sold at a discount from the principal amount thereof and which provide upon an event of default for declaration of an amount less than the principal amount thereof to be due and payable upon acceleration of the Maturity thereof.

Original Issue Discount Securities means any debt security that provides for an amount less than its principal amount to be due and payable upon the declaration of acceleration of the maturity of the debt security upon the occurrence and continuation of an “Event of Default.”

Original Issue Discount Securities means Securities which provide for an amount less than 100% of the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 7.02.

Original Issue Discount Securities means Securities which provide for an amount less than 100% of the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02. "Paying Agent" shall have the meaning provided in Section 2.04, except that for the purposes of Article 8 and Section 4.04 the Paying Agent shall not be the Company or any Subsidiary. "person" means any individual, corporation, partnership, joint venture, asso- ciation, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof. "principal" of a debt security means the principal of the security plus, when appropriate, the premium, if any, on the security. "Principal Domestic Property of the Company" shall mean any property, plant, equipment or facility of the Company which is located in the United States or any territory or political subdivision thereof, except any property which the Board of Directors or management of the Company shall determine to be not ma- terial to the business or operations of the Company and its Subsidiaries, taken as a whole. "Redeemable Securities" means Securities of any Series which may be redeemed, at the option of the Company, prior to the Stated Maturity thereof, on the terms specified in or pursuant to the Authorizing Resolution and/or supplemen- tal indenture relating to such Series and in accordance with Article 3A here- in. "Redemption Date" when used with respect to any Security of any Series to be redeemed means the date fixed for such redemption by or pursuant to the provi- sions of such Security, this Indenture and the Authorizing Resolution and/or supplemental indenture (if any) relating to such Security. "Redemption Price" when used with respect to any Security of any Series to be redeemed means the price at which it is to be redeemed pursuant to the provi- sions of such Security, this Indenture and the Authorizing Resolution and/or supplemental indenture relating to such Security. "Registrar" shall have the meaning provided in Section 2.04.

Original Issue Discount Securities within the meaning of the Original Indenture. If an Event of Default with respect to the Debentures occurs and is continuing, then, upon a declaration of acceleration pursuant to Section 5.2 of the Original Indenture, the amount of principal that shall become due and payable shall equal the Accreted Principal Amount; provided, however, that if the Company exercises its option to pay cash interest instead of accreting the principal amount of the Debentures following a Tax Event, the Debentures shall no longer be considered "Original Issue Discount Securities" within the meaning of the Original Indenture and the principal amount of the Debentures, commencing on the date on which the principal of the Debentures is restated in accordance with the terms of the Debentures, shall equal the Restated Principal Amount.