Common use of Additional Interest Amount Clause in Contracts

Additional Interest Amount. The Additional Interest Amounts shall be payable to Holders of the Securities (or, with respect to any Securities that have been previously converted, to the Holders of such converted Securities at the time of such conversion) if at any time during the six months to one year following the Issue Date, the Company fails to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable; provided that the Company will have 14 calendar days (the “Cure Period”), in the aggregate, to cure all such missed filings. In the event the Company has not so cured a missed filing within the Cure Period, the Additional Interest Amount will be payable on the Interest Payment Date following the expiration of the Cure Period. In the event that the Company is required to pay Additional Interest Amounts to Holders, the Company will provide written notice in the form of an Officers’ Certificate (the “Additional Interest Notice”) to the Trustee and the Co-Trustee of its obligation to pay Additional Interest Amounts no later than 10 calendar days prior to the proposed Interest Payment Date for Additional Interest Amounts (or, in the event the expiration of the Cure Period occurs within 10 days prior to the proposed Interest Payment Date for Additional Amounts, promptly following expiration of the Cure Period), and the Additional Interest Notice shall set forth the amount of Additional Interest Amounts to be paid by the Company on such Interest Payment Date. Neither the Trustee nor the Co-Trustee shall at any time be under any duty or responsibility to any Holder to determine the Additional Interest Amounts, or with respect to the nature, extent or calculation of the amount of Additional Interest Amounts when made, or with respect to the method employed in such calculation of the Additional Interest Amounts.

Appears in 2 contracts

Samples: Indenture (Biovail Corp International), Indenture (Biovail Corp International)

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Additional Interest Amount. The Additional Interest Amounts shall be payable to Holders of the Securities (or, with respect to any Securities that have been previously converted, to the Holders of such converted Securities at the time of such conversion, provided that such Additional Interest Amounts, if any, shall be payable only for such Securities, or the portion of such Securities, that have been converted into Common Shares) if if: (a) at any time during the six months to month period commencing on the last original issuance date of the Securities and ending on the date that is one year following after the Issue Datelast original issuance date of the Securities, the Company fails to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicableapplicable (which, for greater certainty, does not include any report on Form 6¬K or any other document that the Company is required to furnish to, rather than file with, the Commission) (a "Missed Filing Default"); provided that the Company will have until the later of any grace period provided under Rule 12b-25 under the Exchange Act (which the Company shall inform the Trustee and Co-Trustee of) or 14 calendar days in the aggregate (the "Cure Period”), in the aggregate, ") to cure all such missed filings. In the event the Company has not so cured a missed filing within the Cure Period, the Additional Missed Filing Interest Amount will be payable on the Interest Payment Date following the expiration of the Cure Period with respect to the first 90-day period (or any portion thereof) following the expiration of the Cure Period. Another Missed Filing Interest will be payable with respect to the subsequent 90-day period (or any portion thereof) while a Missed Filing Default is in effect and continuing until all such Missed Filing Defaults have been cured. The maximum interest payable pursuant to Missed Filing Interest shall be 50 basis points; or (b) unless: (i) the Private Placement Legend, Canadian Private Placement Legend or Global Security Legend on the Securities has been removed, and (ii) the Securities are freely tradable pursuant to Rule 144 under the Securities Act without volume restrictions by Holders other than Affiliates of the Company or any Person that has been an Affiliate of the Company at any time during the three months preceding the applicable date (as a result of restrictions pursuant to U.S. securities law or the terms of this Indenture), as of the 365th day (or such longer period as provided pursuant to Rule 144 or any successor rule thereto to permit unrestricted resales by non-affiliates) after the last original issuance date, the interest rate on the Securities will increase at an annual rate equal to 0.50% of the aggregate principal amount of the Securities (such increase, the "Trade Restriction Interest"). So long as a condition described in either clause (i) or (ii) of this Section 10.11(b) continues to fail to be satisfied, the Company shall pay such Trade Restriction Interest in cash on each Interest Payment Date to Holders of Securities. When such condition is satisfied, accrued and unpaid Trade Restriction Interest through the date of satisfaction will be paid in cash on the subsequent Interest Payment Date to Holders of Securities. In the event that the Company is required to pay Additional Interest Amounts to Holders, the Company will provide written notice in the form of an Officers' Certificate (the "Additional Interest Notice") to the Trustee and the Co-Trustee of its obligation to pay Additional Interest Amounts no later than 10 calendar days Business Days prior to the proposed Interest Payment Date for Additional Interest Amounts (or, in the event the expiration of the Cure Period occurs within 10 days prior to the proposed Interest Payment Date for Additional Amounts, promptly following expiration of the Cure Period), and the Additional Interest Notice shall set forth the amount of Additional Interest Amounts to be paid by the Company on such Interest Payment Date. Neither the Trustee Trustee, the Conversion Agent, the Paying Agent nor the Co-Trustee shall at any time be under any duty or responsibility to any Holder to determine the Additional Interest Amounts, or with respect to the nature, extent or calculation of the amount of Additional Interest Amounts when made, or with respect to the method employed in such calculation of the Additional Interest Amounts. The Company agrees to include in the Additional Interest Notice to the Trustee and the Co-Trustee the date such Additional Interest Amounts are payable, and for each Holder, the amount payable, wire instructions, DTC participant number and its W-8 or W-9, as applicable, provided that such Holder has provided such information to the Company in its Conversion Notice. If no W-8 or W-9 is provided for such Holder, the Trustee and the Co-Trustee may withhold from payment such amount as may be required under applicable tax law.

Appears in 1 contract

Samples: Indenture (Jaguar Mining Inc)

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Additional Interest Amount. The Additional Interest Amounts shall be payable to Holders of the Securities (or, with respect to any Securities that have been previously converted, to the Holders of such converted Securities at the time of such conversion) if at any time during the six months to one year following the Issue Datemonth period commencing on March 16, 2010 and ending on September 15, 2010, the Company fails to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicableapplicable (which, for greater certainty, does not include any report on Form 6-K or any other document that the Company is required to furnish to, rather than file with, the Commission) (a "Missed Filing Default"); provided that the Company will have until the later of any grace period provided under Rule 12b-25 under the Exchange Act (which the Company shall inform the Trustee and Co-Trustee of) or 14 calendar days in the aggregate (the "Cure Period”), in the aggregate, ") to cure all such missed filings. In the event the Company has not so cured a missed filing within the Cure Period, the Additional Interest Amount will be payable on the Interest Payment Date following the expiration of the Cure Period with respect to the first 90-day period (or any portion thereof) following the expiration of the Cure Period. Another Additional Interest Amount will be payable with respect to the subsequent 90-day period (or any portion thereof) while a Missed Filing Default is in effect and continuing until all such Missed Filing Defaults have been cured. The maximum interest payable pursuant to Additional Interest Amounts shall be 50 basis points. In the event that the Company is required to pay Additional Interest Amounts to Holders, the Company will provide written notice in the form of an Officers' Certificate (the "Additional Interest Notice") to the Trustee and the Co-Trustee of its obligation to pay Additional Interest Amounts no later than 10 calendar days prior to the proposed Interest Payment Date for Additional Interest Amounts (or, in the event the expiration of the Cure Period occurs within 10 days prior to the proposed Interest Payment Date for Additional Amounts, promptly following expiration of the Cure Period), and the Additional Interest Notice shall set forth the amount of Additional Interest Amounts to be paid by the Company on such Interest Payment Date. Neither the Trustee nor the Co-Trustee shall at any time be under any duty or responsibility to any Holder to determine the Additional Interest Amounts, or with respect to the nature, extent or calculation of the amount of Additional Interest Amounts when made, or with respect to the method employed in such calculation of the Additional Interest Amounts.

Appears in 1 contract

Samples: Indenture (Jaguar Mining Inc)

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