Certain Redemptions. Subparagraph (a) Mandatory Sinking Fund Redemptions is amended by deleting the sentence at the end of the first paragraph which states " Provided, however, there be no semi-annual principal payment due September 30, 2002 and commencing March 30, 2003 and on each March 30 and September 30 of each year until paid all remaining semi-annual principal payments shall be $363,118." and inserting in lieu therefore the following: "Provided, however, there be no semi-annual principal payment due September 30, 2002 or March 30, 2003, i) a semi-annual principal payment of $363,118 shall be due September 30, 2003, ii) a semi-annual principal payment of $726,236 shall be due on March 30, 2004, and iii) commencing on September 30, 2004 and on each March 30 and September 30 of each year until paid all remaining semi-annual principal payments shall be $363,118." Except as otherwise expressly provided herein, terms not defined herein which are defined in Schedule A to the Trust Indenture dated December 4, 1997 between Trailer Bridge, Inc. and State Street Bank and Trust Company the former, Indenture Trustee, or by reference therein to other instruments shall have the meaning ascribed to them in said Schedule A or other instruments.
Certain Redemptions. Subparagraph (a) Mandatory Sinking Fund Redemptions is amended by the addition of the following sentence at the end of the first paragraph: Provided, however, there be no semi-annual principal payment due September 30, 2002 and commencing March 30, 2003 and on each March 30 and September 30 of each year until paid all remaining semi-annual principal payments shall be $363,118. Except as otherwise expressly provided herein, terms not defined herein which are defined in Schedule A to the Trust Indenture dated December 4, 1997 between Trailer Bridge, Inc. and State Street Bank and Trust Company, or by reference therein to other instruments shall have the meaning ascribed to them in said Schedule A or other instruments.
Certain Redemptions. Subparagraph (a) Mandatory Sinking Fund Redemptions is amended by the addition of the following sentence at the end of the first paragraph: Provided, however, the semi-annual principal payments due September 30, 2001 and March 30, 2002 shall be due, respectively, on September 30, 2002 and March 30, 2003. Except as otherwise expressly provided herein, terms not defined herein which are defined in Schedule A to the Trust Indenture dated December 4, 1997 between Trailer Bridge, Inc. and State Street Bank and Trust Company, or by reference therein to other instruments shall have the meaning ascribed to them in said Schedule A or other instruments.
Certain Redemptions. 3 (a) Mandatory Sinking Fund Redemptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 (b) [Reserved . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 (c) Optional Redemptions of Bonds at Premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 ------------------
Certain Redemptions. (a) The Company may at any time prior to the Maturity Date redeem from time to time not less than $1,000,000 of the then outstanding principal under the Notes (or such lesser amount then outstanding) for the Redemption Price (as hereinafter defined) in accordance with the procedures set forth in this Section 3.
(b) In the event that Holder has given a Share Price Default Notice under Section 5(a)(ii), the Company shall thereafter be entitled to effect such redemption by payment of the Redemption Price without any prior notice, in which event the date of such payment is referred to herein as the "Redemption Date."
(c) In all other events, the Company may effect such redemption only upon five days' prior written notice to Hxxxxx during the first 30 days after the date hereof, 15 days' prior written notice to Hxxxxx during the second 30 days after the date hereof and 30 days' prior written notice to Hxxxxx thereafter. The giving of such notice shall obligate the Company to pay the Redemption Price on the date (the "Redemption Date") which notice shall fix for redemption (which shall not be later than the 30th day after the date of such notice). The cash portion of the Redemption Price shall accrue interest from and after the Redemption Date at 18% per annum, payable on demand, until the Redemption Price is paid in full.
(d) The Holder shall be entitled to convert the outstanding principal amount of this Note subject to a Company Redemption Notice under this Section from and after the date of delivery by the Company of a Redemption Notice and prior to such time as the Redemption Price and all interest accrued thereon has been duly paid in full.
(e) The Redemption Price for Redemption Dates within the first 30 days after the date of this Note means the sum of the following:
(i) an amount in cash equal to sum of 110% of the principal amount of this Note and 110% of the accrued and unpaid interest on this Note, plus
(ii) 6,250 Warrants for each $100,000 in principal redeemed (pro rated for amounts of less than $100,000). Such Warrants shall be deemed "paid" when delivered by the Company to Holder .
(f) The Redemption Price for Redemption Dates after the first 30 days after the date of this Note means the sum of the following:
(i) an amount in cash equal to sum of 120% of the principal amount of this Note and 120% of the accrued and unpaid interest on this Note, plus
(ii) 6,250 shares of registered and unrestricted shares of Common Stock for each $100,000 in princ...
Certain Redemptions. (i) In the event that the Holder proposes to convert all or any portion of the principal or interest of this Note at a conversion price of less than $1.25, the Company shall at its option be entitled to redeem all or any portion of the Note proposed to be converted. Such option shall be exercisable by notice from the Company to the Holder given within two days after the notice of conversion.
(ii) If the Company shall give such notice of redemption, the Company shall be obligated to pay to the Holder, within 10 business days after the date of such notice of conversion, an amount equal to 135% of the amount of principal proposed to be converted, together with accrued and unpaid interest thereon accrued through the date of such conversion. Such amount shall accrue interest from the date of such conversion until paid at the rate of 11% per annum or, if less, the maximum statutory interest rate in California.
(iii) The $1.25 amount aforesaid shall be equitably adjusted in case the Company shall issue common stock as a dividend upon common stock or in payment of a dividend thereon, shall subdivide the number of outstanding shares of its common stock into a greater number of shares or shall contract the number of outstanding shares of its common stock into a lesser number of shares.
Certain Redemptions. If a Physical Settlement or Combination Settlement under Section 9 or Section 10 of the Certificate of Designations would result in the issuance to the Purchaser Parties and their Affiliates of five percent (5.0%) or more, but less than ten percent (10.0%), of the outstanding shares of Common Stock of the Company as of the relevant Redemption Date (after giving effect to such issuance), then in addition to the settlement of the Redemption Price for each redeemed Share of Series A Preferred Stock from the Purchaser Parties and their Affiliates, the Company shall pay to the Purchaser Parties an aggregate amount of cash (the “Additional Amount”) equal to the Applicable Percentage (as defined below) multiplied by the aggregate Redemption Price to be paid to the Purchaser Parties and their Affiliates (such payment to be made pro rata among the Purchaser Parties and their Affiliates based on the number of shares
Certain Redemptions. Notwithstanding any provisions hereof to the contrary, in the event that a Member determines in its sole discretion that (i) the holding of any rights, interests or obligations with respect to the Company or the Units held by such Member will or could be unlawful or a breach of any applicable banking Law or any other applicable Law, whether U.S. or foreign, or (ii) there has been, is, or could be, an act, matter, event or circumstance related to the Company that results in or could result in damage to the reputation of such Member or any of its Affiliates, upon prior written notice to the Company, such Member shall have the right to: (x) sell or assign all or any portion of its rights, interests and obligations with respect to the Company or the Units held by such Member to a Person on such terms (including as to price) as determined by such Member, provided that such sale or assignment is made in compliance with the applicable provisions of this Article IX (including, for the avoidance of doubt, Section 9.4, Section 9.5 and Section 9.6); or (y) require the Company to repurchase its rights, interests and obligations with respect to the Company or the Units held by such Member for $1.00.
Certain Redemptions. (a) If any Note has been issued hereunder, on or before the Stated Maturity of such Note, the Shipowner may redeem any or all of such Note by issuing on the Redemption Date of such Note, Bonds in a principal amount equal to the outstanding principal amount of and interest accrued on the Note to be so redeemed. All proceeds of Bonds issued pursuant to this paragraph (a), shall be applied by the Shipowner to pay in full the outstanding principal and interest of the outstanding Note to be redeemed on the Redemption Date. Notwithstanding any contrary provision of Section 3.09 and 3.10 of Exhibit 1 hereto, proceeds of Bonds issued pursuant to this paragraph (a) may be paid on the Redemption Date to any such account as the Holder may designate in writing to the Indenture Trustee and the Shipowner, whether or not such account is maintained with the Indenture Trustee, and delivery to such Holder by the Shipowner of an amount sufficient to repay such Holder’s Note in full shall constitute conclusive evidence of such payment for all purposes under this Indenture.
Certain Redemptions. Article Fourth of the Special Provisions of the Indenture is restated in its entirety as follows:
