Defaulted Interest. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below: (a) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b). (b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 42 contracts
Samples: Indenture (Agl Capital Trust Ii), Indenture (Albank Capital Trust I), Indenture (Hubco Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electiontheir election in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuers of such special record date and, in the name and at the expense of the CompanyIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Issuers may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 25 contracts
Samples: Indenture (USA Compression Finance Corp.), Indenture (CNX Coal Finance Corp.), Indenture (CNX Coal Finance Corp.)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyPartnership, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Partnership may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Partnership of such special record date and, in the name and at the expense of the CompanyPartnership, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Partnership may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 22 contracts
Samples: Subordinated Indenture (MPLX Lp), Senior Indenture (MPLX Lp), Indenture (MPLX Lp)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date becomes overdue (herein called "a “Defaulted Interest") ”), such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the CompanyIssuer, at its election, as provided in clause (a) or clause (b) below:.
(a) The Company Issuer may elect to make payment of any Defaulted Interest (including any interest payable on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.13(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor fifteen (15) calendar days and not less than 10 ten (10) calendar days prior to the date of the proposed payment and not less than 10 ten (10) calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Note Register, not less than 10 ten (10) calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).) below; or
(b) The Company Issuer may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clauseSection 2.13(b), such manner of payment shall be deemed practicable by the Trustee. The Trustee shall in the name and at the expense of the Issuer cause prompt notice of the proposed payment and the date thereof to be sent, first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the Note Register.
Appears in 18 contracts
Samples: Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electiontheir election in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuers of such special record date and, in the name and at the expense of the CompanyIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(b) The Company Issuers may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 15 contracts
Samples: Senior Indenture (Holly Energy Finance Corp.), Senior Indenture (SLC Pipeline LLC), Senior Indenture (HEP Navajo Southern, L.P.)
Defaulted Interest. (a) Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") when the same becomes due and payable and such nonpayment continues for a period of thirty calendar days shall forthwith cease to be payable to the holder Holder on the relevant regular record date Regular Record Date, and (i) such defaulted interest, (ii) (to the extent lawful) interest on such defaulted interest at 1.50% in excess of the rate borne by virtue of having been the Notes (such holder; rate the “Default Rate”) and (iii) (to the extent lawful) additional interest on the then outstanding principal at 1.50% (together with the defaulted interest and interest on such defaulted interest, “Defaulted Interest Interest”) shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities Issuer to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the Company .
(b) The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedArticle 2, including Defaulted Interest, shall cease to accrue on the defaulted payment as of the time of such deposit. Thereupon Thereupon, the Trustee shall fix fix, and notify the Issuer of, a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor fifteen calendar days and not less than 10 five calendar days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice each Holder of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, Special Record Date therefore not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Such Defaulted Interest shall then be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)Special Record Date.
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 13 contracts
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 12 contracts
Samples: Indenture (RAIT Financial Trust), Indenture (Resource Capital Corp.), Indenture (Glimcher Realty Trust)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be maileddelivered first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso delivered, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 11 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD)
Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note (or one or more predecessor Notes) is registered at the close of business on the Record Date for such interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, interest payable on the defaulted interest at the same rate per annum borne by the Notes (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the holder registered Holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, Note register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 10 contracts
Samples: Indenture (Neenah Foundry Co), Indenture (Cast Alloys Inc), Indenture (Neenah Foundry Co)
Defaulted Interest. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the CompanyCorporation, at its election, as provided in clause (a) or clause (b) below:
(a) The Company Corporation may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company Corporation shall notify the Debenture Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Corporation shall deposit with the Debenture Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Debenture Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon Thereupon, the Debenture Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Debenture Trustee of the notice of the proposed payment. The Debenture Trustee shall promptly notify the Company Corporation of such special record date and, in the name and at the expense of the CompanyCorporation, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company Corporation may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Corporation to the Debenture Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Debenture Trustee.
Appears in 9 contracts
Samples: Indenture (Hamilton Capital Trust I), Indenture (Haven Bancorp Inc), Indenture (Westbank Capital Trust I)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be maileddelivered first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Xxxxxx’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso delivered, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 7 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Carnival PLC), Indenture (Carnival PLC)
Defaulted Interest. Any The Company shall pay interest on any Security that is payableoverdue principal from time to time on demand at the rate of interest borne by the Notes. The Company shall, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest borne by the Notes. All such interest will be computed on the relevant regular record date by virtue basis of having been such holder; and such Defaulted Interest shall be paid by a 360-day year comprised of twelve 30-day months, and, in the Companycase of a partial month, at its election, as provided the actual number of days elapsed. If the Company defaults in clause (a) or clause (b) below:
(a) The Company may make a payment of interest on the Notes, it shall pay the defaulted interest, plus (to the extent lawful) any Defaulted Interest interest payable on Securities the defaulted interest, to the Persons in whose names such Securities (or their respective Predecessor Securities) who are registered at the close of business Holders on a subsequent special record date, which special record date shall be the fifteenth day next preceding the date fixed by the Company for the payment of defaulted interest or the next succeeding Business Day if such Defaulted Interest, which shall be fixed in the following manner: the date is not a Business Day. The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (a “Default Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as provided in this clause Section; provided, however, that in no event shall the Company deposit monies proposed to be paid in respect of defaulted interest later than 11:00 a.m. New York City time on the proposed Default Interest Payment Date. Thereupon At least 15 days before the Trustee shall fix a subsequent special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify date, the Company shall mail (or cause to be mailed) to each Holder, as of such special record a recent date and, in the name and at the expense of selected by the Company, shall cause notice of with a copy to the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder Trustee at his or her address as it appears in the Security Register, not less than 10 least 20 days prior to such special record date, a notice that states the subsequent special record date, the Default Interest Payment Date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notice Notwithstanding the foregoing, any interest which is paid prior to the expiration of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest 30-day period set forth in Section 6.1(1) shall be paid to Holders as of the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special regular record date and shall be no longer payable pursuant to for the following clause (b).
(b) The Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Company may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 7 contracts
Samples: Indenture (Lennar Corp /New/), Indenture (Lennar Corp /New/), Indenture (Lennar Corp /New/)
Defaulted Interest. Any interest (including any Additional Interest) on any Security Note that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "“Defaulted Interest",” which term shall include any accrued and unpaid interest (including any Additional Interest) that has accrued on such defaulted amount in accordance with paragraph 1 of the Notes), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close Close of business Business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor 20 days and not less than 10 15 days prior to the date of the proposed payment and not less than 10 days (or such shorter period as is acceptable to the Trustee) after the receipt by the Trustee of the notice of the proposed paymentpayment (the “Special Record Date”). The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her its address as it appears in on the Security Register, list of Holders maintained pursuant to Section 2.05 not less than 10 25 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the Close of Business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 7 contracts
Samples: Indenture (Micron Technology Inc), Indenture (Micron Technology Inc), Indenture (Micron Technology Inc)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "“Defaulted Interest") ”, which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Notes), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close Close of business Business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor 20 days and not less than 10 15 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed paymentpayment (the “Special Record Date”). The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Notes at his or her address as it appears in on the Security Register, list of Noteholders maintained pursuant to Section 2.05 not less than 10 25 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the Close of Business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 7 contracts
Samples: Indenture (Wellcare Health Plans, Inc.), Indenture (Wellcare Health Plans, Inc.), Indenture (Wright Medical Group Inc)
Defaulted Interest. Any If the Company defaults in a payment of interest on any Security that is payablethe Securities, but is not punctually paid or duly provided for, the Company shall pay the defaulted interest (plus interest on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to such defaulted interest at the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid rate borne by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons extent lawful) in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following any lawful manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security and the date (not less than 30 days after such notice) of the proposed paymentpayment (the “Special Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest defaulted interest, which date shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andSpecial Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Special Record Date and Special Interest Payment Date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears given in the Security Registermanner provided for in Section 13.02, not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Special Record Date and Special Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest defaulted interest shall be paid on the Special Interest Payment Date to the Persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer payable pursuant to the following clause (b).
(b) be payable. The Company may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 7 contracts
Samples: Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.), Indenture (Amc Entertainment Holdings, Inc.)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of having been such holder; Registered Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company may make payment of any Defaulted Interest on any the Registered Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 7 contracts
Samples: Indenture (American Home Mortgage Investment Corp), Indenture (Swift Energy Co), Indenture (Swift Energy Co)
Defaulted Interest. Any Except as otherwise specified with respect to the Note, any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "“Defaulted Interest") ,” which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Notes), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close Close of business Business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed paymentpayment (the “Special Record Date”). The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Notes at his or her address as it appears in on the Security Register, list of Noteholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the Close of Business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 7 contracts
Samples: Indenture (Providence Service Corp), Indenture (Evercore Partners Inc.), Securities Purchase Agreement (Power One Inc)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuers may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuers shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuers shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuers may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 6 contracts
Samples: Indenture (Ardagh Group S.A.), Senior Indenture (Ardagh Finance Holdings S.A.), Indenture (Ardagh Finance Holdings S.A.)
Defaulted Interest. (a) Any interest on any Security that Note which is payable, payable but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder registered Holder on the relevant regular record date Regular Record Date by virtue of his having been such holder; registered Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities Notes (or their respective Predecessor SecuritiesNote) are registered at the close of business on a special record date (the “Special Record Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee prior to 10:00 a.m., New York City time, an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which date shall not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder the Holders of such Notes at his or her address their addresses as it appears they appear in the Security Note Register, not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities Notes (or their respective Predecessor SecuritiesNote) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(b) Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon transfer of, in exchange for, or in lieu of, any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 6 contracts
Samples: Indenture Agreement (Scotts Miracle-Gro Co), Indenture Agreement (Scotts Miracle-Gro Co), Indenture Agreement (Scotts Miracle-Gro Co)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, sent to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso sent, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 6 contracts
Samples: Indenture (EnLink Midstream, LLC), Indenture (EnLink Midstream Partners, LP), Indenture (EnLink Midstream Partners, LP)
Defaulted Interest. Any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Regular Record Date applicable to such installment of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) interest. The Company may shall make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business 5:00 p.m. (New York City time) on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 10.02. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first by first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at 5:00 p.m. (New York City time) on such special record date and shall be no longer payable pursuant to the following clause (b)Special Record Date.
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 6 contracts
Samples: Indenture (Bonanza Creek Energy, Inc.), Indenture (Bonanza Creek Energy Operating Company, LLC), Indenture (Bill Barrett Corp)
Defaulted Interest. (a) Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall shall, if such Debt Security is a Registered Security, forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of having been such holder; Registered Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date. In case a Coupon Security of any such series is surrendered in exchange for a Registered Security of such series after the close of business (at an office or agency in a Place of Payment for such series) on any special record date and before the opening of business (at such office or agency) on the related proposed date of payment of Defaulted Interest, such Coupon Security shall be no longer surrendered without the Coupon relating to such proposed date of payment and Defaulted Interest will not be payable pursuant on such proposed date of payment in respect of the Registered Security issued in exchange for such Coupon Security, but will be payable only to the following clause (b)Holder of such Coupon when due in accordance with the provisions of this Indenture.
(bii) The Company may make payment of any Defaulted Interest on any the Registered Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(b) Any Defaulted Interest payable in respect of Bearer Securities of any series shall be payable pursuant to such procedures as may be satisfactory to the Trustee in such manner that there is no discrimination between the Holders of Registered Securities (if any) and Bearer Securities of such series, and notice of the payment date therefor shall be given by the Trustee, in the name and at the expense of the Company, in the manner provided in Section 13.03 not more than 25 days and not less than 20 days prior to the date of the proposed payment.
Appears in 5 contracts
Samples: Indenture (Pioneer Natural Resources Co), Indenture (Enterprise Products Partners L P), Indenture (Meridian Industrial Trust Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of having been such holder; Registered Holder, and such Defaulted Interest shall may be paid by the CompanyPartnership, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Partnership may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Partnership of such special record date and, in the name and at the expense of the CompanyPartnership, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Partnership may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 5 contracts
Samples: Subordinated Indenture (Jonah Gas Gathering Co), Indenture (Jonah Gas Gathering Co), Subordinated Indenture (Jonah Gas Gathering Co)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a(a) or clause (b(b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be maileddelivered first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso delivered, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)(b) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 5 contracts
Samples: Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyPartnership, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Partnership may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Partnership of such special record date and, in the name and at the expense of the CompanyPartnership, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Partnership may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 5 contracts
Samples: Indenture (Enbridge Energy Partners Lp), Indenture (Pacific Energy Group LLC), Indenture (Williams Energy Partners L P)
Defaulted Interest. Any If the Issuer defaults on a payment of interest on any Security that is payablethe Notes, but is not punctually paid or duly provided for, on any Interest Payment Date the Issuer shall pay the defaulted interest then borne by the Notes plus (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder extent permitted by law) any interest payable on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by defaulted interest, in accordance with the Companyterms hereof, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) who are registered at the close of business Holders thereof on a subsequent special record date for the payment of such Defaulted Interestdate, which date shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit least five Business Days prior to the date of payment date. If such default continues for thirty (30) days, the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andand payment date. At least 10 days before such special record date, the Issuer (or upon the written request of the Issuer, the Trustee, in the name and at the expense of the Company, Issuer) shall cause mail to each affected Noteholder a notice of the proposed payment of such Defaulted Interest and that states the special record date, the payment date therefor and the amount of defaulted interest, and interest payable on defaulted interest, if any, to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record datepaid. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which such Securities the Notes may be listedlisted and, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clausesentence, such manner of payment shall be deemed practicable by the Trustee. If the Issuer elects for the Trustee to send such notice to the Holders then the Issuer shall provide such notice to the Trustee along with a written notice to the Trustee instructing the Trustee to send such notice to the Holders at least five (5) days (or such shorter time as may be agreed by the Trustee in its discretion) before such notice is required to be mailed to the Holders. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(1) shall be paid to Holders as of the record date for the Interest Payment Date for which interest has not been paid. In the event that the Issuer is required to pay defaulted interest to Holders of Notes, the Issuer will provide written notice to the Trustee of its obligation to pay such defaulted interest no later than fifteen (15) days prior to the proposed payment date for the defaulted interest and such notice shall set forth the amount of defaulted interest to be paid by the Issuer on such payment date. The Trustee shall not at any time be under any duty or responsibility to the Holders to determine the defaulted interest, or with respect to the nature, extent, or calculation of the amount of defaulted interest owed, or with respect to the method employed in such calculation of the defaulted interest.
Appears in 5 contracts
Samples: Indenture (Vail Resorts Inc), Indenture (Brinks Co), Indenture (Vail Resorts Inc)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the Company, at its election, as provided in clause (aSection 2.13(a) or clause (b) below:Section 2.13(b).
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.13(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.13(b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, Section 2.13(b) such manner of payment shall be deemed practicable by the Trustee.
Appears in 5 contracts
Samples: Indenture (VM Holding S.A.), Indenture (Arcos Dorados Holdings Inc.), Indenture (Arcos Dorados Holdings Inc.)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Company shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Company shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 5 contracts
Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)
Defaulted Interest. Any If the Company defaults in a payment of interest on any Security that is payablethe Securities, but is not punctually paid or duly provided for, the Company shall pay the defaulted interest (plus interest on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to such defaulted interest at the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid rate borne by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons extent lawful) in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following any lawful manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security and the date (not less than 30 days after such notice) of the proposed paymentpayment (the “Default Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Default Interest Record Date”) for the payment of such Defaulted Interest defaulted interest, which date shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment Default Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andDefault Interest Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Default Interest Record Date and Default Interest Payment Date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears given in the Security Registermanner provided for in Section 11.02, not less than 10 days prior to such special record dateDefault Interest Record Date. Notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Default Interest Record Date and Default Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest defaulted interest shall be paid on the Default Interest Payment Date to the Persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on such special record date Default Interest Record Date and shall be no longer payable pursuant to the following clause (b).
(b) be payable. The Company may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (National CineMedia, LLC), Indenture (National CineMedia, Inc.), Indenture (Regal Entertainment Group)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest at the rate and in the manner provided in Section 4.1 hereof and in the Note (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee Paying Agent an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee Paying Agent for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee Paying Agent shall fix a special record date "Special Record Date" for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee Paying Agent of the notice of the proposed payment. The Trustee Paying Agent shall promptly notify the Company and the Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her its address as it appears in the Security Register, Note register maintained by the Registrar not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Paying Agent. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 4 contracts
Samples: Indenture (United Musical Instruments Usa Inc), Indenture (Tri City Dialysis Center Inc), Indenture (Panolam Industries Inc)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the Company, at its election, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a "Special Record Date"), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause provided(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 4 contracts
Samples: Indenture (Access Financial Solutions Inc), Indenture (Movie Gallery Inc), Indenture (Baron Wire & Cable Corp.)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Pricellular Wireless Corp), Indenture (Price Communications Wireless Inc), Indenture (Price Communications Corp)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest at the rate and in the manner provided in Section 4.1 hereof and in the Note (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee Paying Agent an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee Paying Agent for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee Paying Agent shall fix a special record date "Special Record Date" for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee Paying Agent of the notice of the proposed payment. The Trustee Paying Agent shall promptly notify the Company and the Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her its address as it appears in the Security Register, Note register maintained by the Registrar not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Paying Agent. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 4 contracts
Samples: Indenture (RFS Hotel Investors Inc), Indenture (RFS Partnership Lp), Indenture (Dennys Corp)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 4 contracts
Samples: Indenture (Digicel Group LTD), Indenture (Digicel Group LTD), Indenture (Digicel Group LTD)
Defaulted Interest. Any If the Company defaults in a payment of interest on any Security that is payablethe Securities, but is not punctually paid or duly provided for, the Company shall pay the defaulted interest (plus interest on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to such defaulted interest at the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid rate borne by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons extent lawful) in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following any lawful manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security and the date (not less than 30 days after such notice) of the proposed paymentpayment (the "SPECIAL INTEREST PAYMENT DATE"), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the "SPECIAL RECORD DATE") for the payment of such Defaulted Interest defaulted interest, which date shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andSpecial Record Date, and in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Special Record Date and Special Interest Payment Date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears given in the Security Registermanner provided for in Section 11.02, not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Special Record Date and Special Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest defaulted interest shall be paid on the Special Interest Payment Date to the Persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer payable pursuant to the following clause (b).
(b) be payable. The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 4 contracts
Samples: Indenture (Amc Entertainment Inc), Indenture (Amc Entertainment Inc), Indenture (Marquee Holdings Inc.)
Defaulted Interest. Any Except as otherwise specified with respect to the Securities, any interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "“Defaulted Interest") ”, which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date or accrual date, as the case may be, by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in on the Security Register, list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 4 contracts
Samples: Indenture (Palm Harbor Homes Inc /Fl/), Indenture (Expressjet Holdings Inc), Indenture (CBRL Group Inc)
Defaulted Interest. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the CompanyCorporation, at its election, as provided in clause (a) or clause (b) below:
(a) The Company Corporation may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company Corporation shall notify the Debenture Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Corporation shall deposit with the Debenture Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Debenture Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Debenture Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Debenture Trustee of the notice of the proposed payment. The Debenture Trustee shall promptly notify the Company Corporation of such special record date and, in the name and at the expense of the CompanyCorporation, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company Corporation may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Corporation to the Debenture Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Debenture Trustee.
Appears in 4 contracts
Samples: Indenture (Reliance Capital Trust I), Indenture (Webster Capital Trust Ii), Indenture (Telebanc Capital Trust I)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall shall, if such Debt Security is a Registered Security, forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of having been such holder; Registered Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date. In case a Coupon Security of any such series is surrendered in exchange for a Registered Security of such series after the close of business (at an office or agency in a Place of Payment for such series) on any special record date and before the opening of business (at such office or agency) on the related proposed date of payment of Defaulted Interest, such Coupon Security shall be no longer surrendered without the Coupon relating to such proposed date of payment and Defaulted Interest will not be payable pursuant on such proposed date of payment in respect of the Registered Security issued in exchange for such Coupon Security, but will be payable only to the following clause (b)Holder of such Coupon when due in accordance with the provisions of this Indenture.
(bii) The Company may make payment of any Defaulted Interest on any the Registered Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 4 contracts
Samples: Indenture (Warren Resources of California Inc), Indenture (American Oil & Gas Inc), Indenture (Warren Resources of California Inc)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided forwhen the same becomes due and payable and such nonpayment continues for a period of 30 calendar days, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; Regular Record Date, and such defaulted interest and interest (to the extent lawful) on such defaulted interest at the annual rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest Interest”) shall be paid by the Company, Company at its election, in each case, as provided in clause (a) or clause (b) below:
(a) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on a special record date Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date (not less than 30 calendar days after such notice) of the proposed paymentpayment (the “Special Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest which shall be not be more than 15 nor fifteen calendar days and not less than 10 ten calendar days prior to the date of the proposed payment Special Interest Payment Date and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andSpecial Record Date, and in the name and at the expense of the Company, shall promptly cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor to be mailed, first class postage prepaid, given to each Securityholder at his or her address as it appears in the Security RegisterHolder, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions of this Section 2.13, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 4 contracts
Samples: Indenture (Jarden Corp), Indenture (Jarden Corp), Indenture (Jarden Corp)
Defaulted Interest. Any Unless otherwise specified in the terms of any series of Securities, when any installment of interest on with respect to any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "series of Securities becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Securities of such series were registered on the relevant regular record date by virtue Regular Record Date applicable to such installment of having been such holder; interest, and such Defaulted Interest (including any interest on such Defaulted Interest) shall be paid by the Company, at its election, as provided in clause (aSection 2.13(a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest (including any interest payable on Securities such Defaulted Interest) to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) of the relevant series are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.13(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Securities Register, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.13(b).; or
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.13(b), such manner of payment shall be deemed practicable by the Trustee. The Trustee shall in the name and at the expense of the Company cause prompt notice of the proposed payment and the date thereof to be sent, first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the Security Register.
Appears in 3 contracts
Samples: Indenture (Southwestern Energy Co), Indenture (Southwestern Energy Co), Indenture (Southwestern Energy Services Co)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuers may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Issuers shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuers shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuers may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 3 contracts
Samples: Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De), Indenture (Sealed Air Corp/De)
Defaulted Interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest at the rate and in the manner provided in Section 4.1 hereof and the Security (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee Paying Agent an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee Paying Agent for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee Paying Agent shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee Paying Agent of the notice of the proposed payment. The Trustee Paying Agent shall promptly notify the Company and the Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Paying Agent. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Talk Radio Network Inc), Indenture (Noble Broadcast Group Inc /Oh/), Indenture (Multiverse Acquisition Corp)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Notes becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the Company, at its electionelections, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest (including any interest payable on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.13(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor days and not less than 10 ten days prior to the date of the proposed payment and not less than 10 ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Note Register, not less than 10 ten days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.13(b).; or
(b) The Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.13(b), such manner of payment shall be deemed practicable by the Trustee. The Trustee shall in the name and at the expense of the Company cause prompt notice of the proposed payment and the date thereof to be sent, first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the Note Register.
Appears in 3 contracts
Samples: Indenture (MDC Partners Inc), Indenture (MDC Partners Inc), Indenture (MDC Partners Inc)
Defaulted Interest. Any interest on any Security installment of Special Interest that is payable, but is not punctually paid or duly provided for, for on any Special Interest Payment Date (herein called "“Defaulted Interest") ”), shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and Special Interest. Defaulted Interest (including any interest on such Defaulted Interest at the applicable rate at which Special Interest shall then be payable) may be paid by the Company, at its election, as provided in clause (aSections 11.02(a) or clause (b) below:11.02(b).
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest at the applicable rate at which Special Interest shall then be payable) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close Close of business Business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 11.02(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent by first-class mail, first class postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the Close of Business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 11.02(b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest at the applicable rate at which Special Interest shall then be payable) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, exchange if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 11.02(b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Rh), Indenture (Rh), Indenture (Restoration Hardware Holdings Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre–paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Glimcher Realty Trust), Indenture (Glimcher Realty Trust), Indenture (Glimcher Realty Trust)
Defaulted Interest. Any If the Company defaults in a payment of interest or any Additional Amounts on any Security that is payableseries of Registered Securities, but is not punctually paid or duly provided for, on the Company shall pay the defaulted interest and any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease Additional Amounts to be payable to the holder on the relevant regular record date by virtue Persons who are Holders of having been Registered Securities of such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided series in clause (a) or clause (b) below:
(a) any lawful manner. The Company may make payment of any Defaulted Interest on Securities also pay the defaulted interest to the Persons in whose names such Securities (or their respective Predecessor Securities) persons who are registered at the close of business Security holders on a subsequent special record date in the following manner. The Company shall fix the special record date (which shall be between 10 and 30 days before the payment date) for the payment of such Defaulted Interestdefaulted interest and any Additional Amounts on such Securities and the payment date for such defaulted interest. At least 15 days before the special record date, which shall be fixed in the following manner: the Company shall notify mail each Holder of Registered Securities, with a copy to the Trustee in writing of Trustee, a notice that states the special record date, the payment date and the amount of Defaulted Interest proposed defaulted interest and any Additional Amounts to be paid on each such Security and the date of the proposed paymentpaid, and at the same time provided the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make has made arrangements satisfactory to the Trustee for such deposit prior to the date payment of the proposed payment, such money when deposited aggregate amount to be held in trust for the benefit of the Persons entitled to paid on such Defaulted Interest as in this clause providedpayment date. Thereupon On such payment date the Trustee shall fix pay out of funds provided by the Company such defaulted interest and any Additional Amounts. In case a special record date Bearer Security of any series is surrendered at the office or agency of the Company maintained pursuant to Section 4.02 in a Place of Payment for the payment such series in exchange for a Registered Security of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days series after the receipt by the Trustee close of the notice of the proposed payment. The Trustee shall promptly notify the Company of business at such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his office or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered agency on such any special record date and before the opening of business at such office or agency on the related proposed date for payment of defaulted interest and any Additional Amounts, such Bearer Security shall be no longer surrendered without the coupon relating to such proposed date of payment and defaulted interest and any Additional Amounts will not be payable pursuant on such proposed date of payment in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the following clause (b).
(b) Holder of such coupon on or after such payment date in accordance with the provisions of this Indenture. The Company may make payment of pay defaulted interest and any Defaulted Interest on any Securities Additional Amounts in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trusteemanner.
Appears in 3 contracts
Samples: Indenture (Sierra Pacific Resources), Indenture (Natural Microsystems Corp), Indenture (Natural Microsystems Corp)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the Company, at its election, as provided in clause (aA) or clause (bB) below:.
(aA) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause provided(A). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bB).
(bB) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (B), such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Alliance One International, Inc.), Indenture (Alliance One International, Inc.), Indenture (Alliance One International, Inc.)
Defaulted Interest. Any interest Except as otherwise specified with respect to the Securities, any Contingent Cash Interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any applicable Contingent Cash Interest Payment Date (herein called "Defaulted Interest") , which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Common Stock Record Date or Contingent Cash Interest Record Date, as the case may be, by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the "Special Record Date") for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in on the Security Register, list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor Special Record Date therefore having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Laboratory Corp of America Holdings), Indenture (Laboratory Corp of America Holdings), Indenture (Supervalu Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electiontheir election in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuers of such special record date and, in the name and at the expense of the CompanyIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).than
(bii) The Company Issuers may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Subordinated Indenture (EXLP Leasing LLC), Subordinated Indenture (Alamitos Co), Subordinated Indenture (BreitBurn Finance Corp)
Defaulted Interest. Any If the Company defaults in a payment of interest on any Security that is payablethe Notes, but is not punctually paid or duly provided forit shall pay the defaulted interest, on any Interest Payment Date plus (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder extent lawful) any interest payable on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities defaulted interest to the Persons in whose names such Securities (or their respective Predecessor Securities) who are registered at the close of business Holders on a subsequent special record date, which special record date shall be the fifteenth day next preceding the date fixed by the Company for the payment of defaulted interest or the next succeeding Business Day if such Defaulted Interest, which shall be fixed in the following manner: the date is not a Business Day. The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (a "Default Interest Payment Date"), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as provided in this clause Section; provided, however, that in no event shall the Company deposit monies proposed to be paid in respect of defaulted interest later than 11:00 a.m. of the proposed Default Interest Payment Date. Thereupon At least 15 days before the Trustee subsequent special record date, the Company shall fix mail (or cause to be mailed) to each Holder, as of a recent date selected by the Company, with a copy to the Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(i) shall be paid to Holders as of the regular record date for the payment of such Defaulted Interest Payment Date for which shall interest has not be more than 15 nor less than 10 days prior to been paid. Notwithstanding the date of foregoing, the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Icn Pharmaceuticals Inc), Indenture (International Knife & Saw Inc), Indenture (Icn Pharmaceuticals Inc)
Defaulted Interest. (a) Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall shall, if such Debt Security is a Registered Security, forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of having been such holder; Registered Holder, and such Defaulted Interest shall (plus interest on such Defaulted Interest to the extent lawful) may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall promptly notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company may make payment date. In case a Coupon Security of any Defaulted Interest on any Securities such series is surrendered in any other lawful manner not inconsistent with exchange for a Registered Security of such series after the requirements close of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.business
Appears in 3 contracts
Samples: Indenture (Range Resources Corp), Indenture (Range Resources Corp), Indenture (Range Resources Corp)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus any interest payable on the defaulted interest at the rate and in the manner provided in Section 4.1 hereof and the Security (herein called "Defaulted Interest") ), shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, or, as applicable, the Special Record Date (as defined below), and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee Paying Agent an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee Paying Agent for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee Paying Agent shall fix a special record date for the payment of such Defaulted Interest (a "Special Record Date"), which shall be not be more than 15 nor days, and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee Paying Agent of the notice of the proposed payment. The Trustee Paying Agent shall promptly notify the Company and the Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Paying Agent. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon the registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Wichita Manufacturing Inc), Indenture (Doskocil Manufacturing Co Inc), Indenture (Compass Aerospace LTD)
Defaulted Interest. Any (a) When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the Company, at its election, as provided in clause (aSections 2.11(b) or clause (c).
(b) below:
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a "Special Record Date"), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest and interest payable on such Defaulted Interest, if any, proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest and interest payable on such Defaulted Interest, if any, or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest and interest payable on such Defaulted Interest, if any, as provided in this clause providedSection 2.11(b). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, and interest payable on such Defaulted Interest, if any, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and interest payable on such Defaulted Interest, if any, and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and interest payable on such Defaulted Interest, if any, and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest and interest payable on such Defaulted Interest, if any, shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.11(c).
(bc) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any the securities exchange exchange, if any, on which such Securities may be listed, and upon such notice as may be required by such exchange, the Notes are listed if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.11(c), such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Covanta Energy Corp), Indenture (Danielson Holding Corp), Indenture (Covanta Energy Corp)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“ Defaulted Interest"Interest ”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electiontheir election in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuers of such special record date and, in the name and at the expense of the CompanyIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(b) The Company Issuers may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Subordinated Indenture (Holly Energy Finance Corp.), Subordinated Indenture (SLC Pipeline LLC), Subordinated Indenture (HEP Navajo Southern, L.P.)
Defaulted Interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date interest payment date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder registered Holder on the relevant regular record date by virtue of having been such holder; date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are were registered at the close of business on a special regular record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause providedprovided herein. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor less than 10 days prior to the date of the proposed payment payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears appeared in the Security Registerregister on such regular record date for payment of such Defaulted Interest, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are were registered on such special regular record date and shall be no longer be payable pursuant to the following clause Clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseClause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 3 contracts
Samples: Indenture (Lexington Precision Corp), Indenture (Lexington Precision Corp), Indenture (Lexington Precision Corp)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall shall, if such Debt Security is a Registered Security, forthwith cease to be payable to the holder Registered Holder thereof on the relevant regular record date by virtue of his having been such holder; Registered Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer or any Guarantor, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Issuer or any Guarantor, as the case may be, may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: The Issuer or any Guarantor, as the Company case may be shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security of such series and the date of the proposed payment, and at the same time the Company Issuer or any Guarantor, as the case may be, shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer or the Guarantor, as the case may be, of such special record date and, in the name and at the expense of the CompanyIssuer or the Guarantor, as the case may be, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, or sent to each Securityholder Holder thereof at his or her its address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been so mailed as aforesaidor sent, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Issuer or any Guarantor, as the case may be, may make payment of any Defaulted Interest on any the Registered Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Jacobs Solutions Inc.), Indenture (Jacobs Engineering Group Inc /De/), Indenture (Jacobs Engineering Group Inc /De/)
Defaulted Interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date Regular Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Company Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, not less than 10 days five Business Days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid not later than the fifteenth day after such Special Record Date to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)Special Record Date.
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment payments shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Navistar Financial Corp), Indenture (Aes Corporation), Indenture (Aes Corporation)
Defaulted Interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date interest payment date (herein called "Defaulted Interest") ), shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; date, and such Defaulted Interest shall may be paid by the Company, at its election, Company as provided in clause (a) or clause (b) below:
(a) follows. The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause section provided. Thereupon the Trustee Company shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment, and notify the Trustee thereof. The Trustee shall promptly notify the Company of such special record date andshall, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, given to each Securityholder at his or her address as it appears in the Security RegisterHolder of Securities pursuant to Section 12.2, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date and shall be no longer payable pursuant to date. Alternatively, the following clause (b).
(b) The Company may elect to make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon any such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clausesection, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Barnes & Noble Inc), Indenture (Mediacom Communications Corp), Indenture (Chippac Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, for on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyPartnership, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Partnership may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Partnership of such special record date and, in the name and at the expense of the CompanyPartnership, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(b) The Company Partnership may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, exchange if, after notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP), Indenture (ONEOK Partners LP)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company Issuer shall either (i) deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall (ii) make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.13, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 3 contracts
Samples: Indenture (Invitel Holdings a/S), Indenture (Invitel Holdings a/S), Indenture (Hungarian Telephone & Cable Corp)
Defaulted Interest. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee Trustees of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (HSBC Usa Capital Trust Vi), Indenture (First Usa Inc), Indenture (Berkley W R Capital Trust)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date Date, plus, to the extent lawful, any interest payable on the defaulted interest at the rate and in the manner provided in Section 4.1 hereof and in the Note (herein called "Defaulted Interest") ), shall forthwith cease to be payable to the holder registered Holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee Paying Agent an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee Paying Agent for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee Paying Agent shall fix a special record date "Special Record Date" for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee Paying Agent of the notice of the proposed payment. The Trustee Paying Agent shall promptly notify the Company and the Trustee of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her its address as it appears in the Security Register, Note register maintained by the Registrar not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Paying Agent. Subject to the foregoing provisions of this Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 3 contracts
Samples: Indenture (Penton Media Inc), Indenture (Radiologix Inc), Indenture (Radiologix Inc)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:of this Section 2.12.
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company Issuer shall either (i) deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall (ii) make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (bSection 2.12(b).
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 3 contracts
Samples: Indenture (Invitel Holdings a/S), Indenture (Invitel Holdings a/S), Indenture (Hungarian Telephone & Cable Corp)
Defaulted Interest. Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Note is registered at the close of business on the Regular Record Date for such interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date and interest on such defaulted interest at the applicable interest rate borne by the Notes, to the extent lawful (such defaulted interest (and interest thereon) herein collectively called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date Regular Record Date by virtue of having been such holderHolder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify give the Trustee in writing at least 15 days' written notice (unless a shorter period is acceptable to the Trustee for its convenience) of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held by the Trustee in trust for the benefit of the Persons entitled to such Defaulted Interest as is provided in this clause providedSection 2.12. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in Special Record Date. In the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security RegisterRegistrar, not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer payable pursuant Special Record Date. Subject to the following clause (b).
(b) The Company may make payment foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on which such Securities may be listedrights to interest accrued and unpaid, and upon such notice as may be required to accrue, which were carried by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trusteeother Note.
Appears in 3 contracts
Samples: Indenture (Sbarro Inc), Indenture (GHTV Inc), Indenture (Village at Breckenridge Acquisition Corp Inc)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be maileddelivered first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Hxxxxx’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso delivered, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 3 contracts
Samples: Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD), Indenture (Royal Caribbean Cruises LTD)
Defaulted Interest. Any Except as otherwise specified with respect to the Securities, any interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "Defaulted Interest") , which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date or accrual date, as the case may be, by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the "Special Record Date") for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in on the Security Register, list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Avatar Holdings Inc), Indenture (CBRL Group Inc), Indenture (Alaska Air Group Inc)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the Company, at its election, as provided in clause (aA) or clause (bB) below:.
(aA) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a "Special Record Date"), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause provided(A). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bB).
(bB) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (B), such manner of payment shall be deemed practicable by the Trustee.
Appears in 3 contracts
Samples: Indenture (Flag Telecom Holdings LTD), Senior Euro Notes Agreement (Flag Telecom Holdings LTD), Indenture (Dimon Inc)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyGuarantor, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder of Notes as such Holder's address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)ii) below.
(bii) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.11, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 2 contracts
Samples: Indenture (Polska Telefonia Cyfrowa Sp Zoo), Indenture (PTC International Finance Holding B V)
Defaulted Interest. Any interest on any Security Junior Subordinated Debenture that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the CompanyCorporation, at its election, as provided in clause (a) or clause (b) below:
(a) The Company Corporation may make payment of any Defaulted Interest on Securities Junior Subordinated Debentures to the Persons in whose names such Securities Junior Subordinated Debentures (or their respective Predecessor SecuritiesJunior Subordinated Debentures) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company Corporation shall notify the Debenture Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Junior Subordinated Debenture and the date of the proposed payment, and at the same time the Company Corporation shall deposit with the Debenture Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Debenture Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Debenture Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Debenture Trustee of the notice of the proposed payment. The Debenture Trustee shall promptly notify the Company Corporation of such special record date and, in the name and at the expense of the CompanyCorporation, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder Debentureholder at his or her address as it appears in the Security Debenture Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities Junior Subordinated Debentures (or their respective Predecessor SecuritiesJunior Subordinated Debentures) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company Corporation may make payment of any Defaulted Interest on any Securities Junior Subordinated Debentures in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Junior Subordinated Debentures may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company Corporation to the Debenture Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Debenture Trustee.
Appears in 2 contracts
Samples: Indenture (Mainstreet Bankgroup Inc), Indenture (Mainstreet Bankgroup Inc)
Defaulted Interest. Any If the Issuer defaults on a payment of interest on any Security that is payable, but is not punctually paid or duly provided for, a series of Securities on any Interest Payment Date Date, the Issuer shall pay the defaulted interest then borne by such series of Securities plus (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder extent permitted by law) any interest payable on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by defaulted interest, in accordance with the Companyterms hereof, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) who are registered at the close of business Holders thereof on a subsequent special record date for the payment of such Defaulted Interestdate, which date shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit least five Business Days prior to the date of payment date. If such default continues for thirty (30) days, the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date andand payment date in a manner satisfactory to the Trustee. At least ten (10) days before such special record date, the Issuer (or upon the written request of the Issuer, the Trustee, in the name and at the expense of the Company, Issuer) shall cause mail to each affected Holder a notice of the proposed payment of such Defaulted Interest and that states the special record date, the payment date therefor and the amount of defaulted interest, and interest payable on defaulted interest, if any, to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record datepaid. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which such the applicable series of Securities may be listedlisted and, and upon such notice as may be required by such exchange, if, after written notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clausesentence, such manner of payment shall be deemed practicable by the Trustee. If the Issuer elects for the Trustee to send such notice to the Holders then the Issuer shall provide such notice to the Trustee at least ten (10) days (or such shorter time as may be agreed by the Trustee in its discretion) before such notice is required to be mailed to the Holders of the applicable series of Securities. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(1) shall be paid to Holders of such series of Securities as of the record date for the Interest Payment Date for which interest has not been paid.
Appears in 2 contracts
Samples: Indenture (Keystone Automotive Operations Inc), Indenture (Keystone Automotive Operations Inc)
Defaulted Interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Universal Outdoor Inc), Indenture (Universal Outdoor Inc)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Securities were registered on the relevant regular record date by virtue Interest Payment Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the Company, at its election, as provided in clause (aSection 2.11(a) or clause (b) below:).
(a) The Company may elect to make payment of any Defaulted Interest (including any interest payable on Securities such Defaulted Interest) to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a "Special Record Date"), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.11(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.11(b).; or
(b) The Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.11(b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Artesyn Technologies Inc), Indenture (Memberworks Inc)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor Business Days and not less than 10 days Business Days prior to the date of the proposed payment and not less than 10 days Business Days after the receipt by the Trustee of the notice of the proposed paymentpayment ("Special Record Date"). The Trustee shall promptly notify the Company in writing of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days Business Days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Halter Marine Group Inc), Indenture (May & Speh Inc)
Defaulted Interest. Any Except as otherwise specified with respect to the Securities, any semi-annual or contingent interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "Defaulted Interest") , which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date or accrual date, as the case may be, by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyCompany or the Guarantor, as the case may be, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company or the Guarantor may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: . The Company or the Company Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company or the Guarantor shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the "Special Record Date") for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company or the Guarantor of such special record date Special Record Date and, in the name and at the expense of the CompanyCompany or the Guarantor, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in on the Security Register, list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b) The Company or the Guarantor may make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company or the Guarantor to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Countrywide Financial Corp), Indenture (Countrywide Home Loans Inc)
Defaulted Interest. Any If the Company defaults in a payment of interest on any Security that is payablethe Notes, but is not punctually paid or duly provided forit shall pay the defaulted interest, on any Interest Payment Date plus (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder extent lawful) any interest payable on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities defaulted interest to the Persons in whose names such Securities (or their respective Predecessor Securities) who are registered at the close of business Holders on a subsequent special record date, which special record date shall be the fifteenth day next preceding the date fixed by the Company for the payment of defaulted interest or the next succeeding Business Day if such Defaulted Interest, which shall be fixed in the following manner: the date is not a Business Day. The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (a "Default Interest Payment Date"), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest defaulted interest as provided in this clause Section; provided, however, that in no event shall the Company deposit monies proposed to be paid in respect of defaulted interest later than 11:00 a.m. of the proposed Default Interest Payment Date. Thereupon At least 15 days before the Trustee subsequent special record date, the Company shall fix mail (or cause to be mailed) to each Holder, as of a recent date selected by the Company, with a copy to the Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.1(i) shall be paid to Holders as of the regular record date for the payment of such Defaulted Interest Payment Date for which shall interest has not be more than 15 nor less than 10 days prior to been paid. Notwithstanding the date of foregoing, the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Hawk Brake Inc), Indenture (Hawk Motors Inc)
Defaulted Interest. Any With respect to any Notes of any Series, any interest on any Security that such Notes which is payable, payable but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Regular Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) the following sub-clause: The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered relevant Noteholders of record at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee Fiscal and Paying Agent, Registrar and any other Paying Agents in writing of the amount of Defaulted Interest proposed to be paid on each such Security relevant Series of Notes and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee Paying Agents an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee Fiscal and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited in accordance with Clause 3 (Payments to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause providedFiscal and Paying Agent). Thereupon the Trustee Issuer shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor fifteen (15) calendar days and not less than 10 ten (10) calendar days prior to the date of the proposed payment and not less than 10 ten (10) calendar days after the receipt by the Trustee Fiscal and Paying Agent of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Company Fiscal and Paying Agent, Registrar and any other Paying Agents of such special record date and, in the name Special Record Date and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor Special Record Date therefore to be mailed, first first-class postage prepaid, or, in the case of Global Notes, to be sent by electronic means in accordance with the rules and procedures of the relevant Clearing System, to each Securityholder Noteholder of such Series at his or her its address as it appears in the Security Register, not less than 10 ten (10) calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered Noteholders of record at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)Special Record Date.
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Fiscal and Paying Agency Agreement, Fiscal and Paying Agency Agreement
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the CompanyIssuer, at its election, as provided in clause (aSection 2.12(a) or clause (b) below:2.12(b).
(a) The Company Issuer may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.12(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.12(b).
(b) The Company Alternatively, the Issuer may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange exchange, if any, on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clauseSection 2.12(b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Vitro Sa De Cv), Indenture (Vitro Sa De Cv)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided forwhen the same becomes due and payable and such nonpayment continues for a period of 30 calendar days, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; Regular Record Date, and such defaulted interest and interest (to the extent lawful) on such defaulted interest at the annual rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest Interest”) shall be paid by the Company, Issuer at its election, in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on a special record date Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee and the Securities Administrator in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date (not less than 30 calendar days after such notice) of the proposed paymentpayment (the “Special Interest Payment Date”), and at the same time the Company Issuer shall deposit with the Trustee or the Securities Administrator an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee and the Securities Administrator for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest which shall be not be more than 15 nor fifteen calendar days and not less than 10 ten calendar days prior to the date of the proposed payment Special Interest Payment Date and not less than 10 ten calendar days after the receipt by the Trustee and the Securities Administrator of the notice of the proposed payment. The Trustee or the Securities Administrator shall promptly notify the Company Issuer of such special record date andSpecial Record Date, and in the name and at the expense of the CompanyIssuer, shall promptly cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor to be mailed, first class postage prepaid, given to each Securityholder at his or her address as it appears in the Security RegisterHolder, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee and the Securities Administrator of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee and the Securities Administrator.
(c) Subject to the foregoing provisions of this Section 2.13, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 2 contracts
Samples: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)
Defaulted Interest. Any If the Company defaults in a payment of interest on the Notes of any Security that is payableseries, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") such installment of interest shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Regular Record Date applicable to such installment of having been interest. Defaulted interest (including any interest on such holder; and such Defaulted Interest shall defaulted interest) may be paid by the Company, at its election, as provided in clause (a) or clause (b) below:.
(a) The Company may elect to make payment of any Defaulted Interest defaulted interest (including any interest on Securities such defaulted interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interestdefaulted interest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest defaulted interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest defaulted interest, which shall be not be more than 15 nor calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment payments of such Defaulted Interest defaulted interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Register, not less than 10 at least 15 calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest defaulted interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest defaulted interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest defaulted interest (including any interest on any Securities such defaulted interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Barnes Group Inc), Indenture (Barnes Group Inc)
Defaulted Interest. If the Company fails to pay any principal of or interest on any Security on the due date therefor (whether upon acceleration, at the related Stated Maturity Date or otherwise), the Company shall pay, from and after the expiration of any cure period, interest thereon, at the rate per annum borne by the Securities, to the extent permitted by law. Any interest on any Security that is which shall be payable, but is shall not be punctually paid or duly provided for, on any Interest Payment Date for such Security (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date Record Date by virtue of having been such holderHolder; and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons Person in whose names name such Securities Security (or their respective a Predecessor SecuritiesSecurity thereof) are shall be registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which date shall be fixed in the following manner: the :
(A) The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money U.S. Legal Tender equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money U.S. Legal Tender when so deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon .
(B) Thereupon, the Trustee shall fix a special record date "Special Record Date" for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first class class, postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in the Security Register, not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Person in whose names name such Securities Security (or their respective a Predecessor SecuritiesSecurity thereof) are shall be registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment method pursuant to this clause, such manner of payment method shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Toyota Motor Credit Corp), Indenture (Toyota Motor Credit Corp)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (collectively, herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor Business Days and not less than 10 days Business Days prior to the date of the proposed payment and not less than 10 days Business Days after the receipt by the Trustee of the notice of the proposed paymentpayment ("Special Record Date"). The Trustee shall promptly notify the Company in writing of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Register, registry books of the Registrar not less than 10 days Business Days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2). Prior to 12:00 noon New York time on the date on which the Defaulted Interest is to be paid, the Company shall deposit with the Trustee an amount of Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest.
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the grace period provided in Section 6.1 shall be paid to the Holders of the Securities as of the regular Record Date for such Interest Payment Date for which interest has not been paid.
Appears in 2 contracts
Samples: Indenture (General Semiconductor Inc), Indenture (Total Renal Care Holdings Inc)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest shall Interest) may be paid by the Company, at its election, as provided in clause (aSection 2.12(a) or clause (b) below:Section 2.12(b).
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a "Special Record Date"), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.12(a). Thereupon the The Trustee shall then fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more less than 15 nor less than 10 calendar days prior to the date of the proposed payment and not less than 10 15 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder's address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.12(b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.12(b), such manner of payment shall be deemed practicable by the Trustee.
(c) The Company in issuing the Notes may use "CUSIP" numbers (if then generally in use) and, if so, the Trustee shall use "CUSIP" numbers in notices of redemption as a convenience to Holders; provided, however, that neither the Company nor the Trustee shall have any responsibility for any defect in the "CUSIP" number that appears on any Note, check, advice of payment or redemption notice, and any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP number.
Appears in 2 contracts
Samples: Indenture (Grupo Iusacell Sa De Cv), Indenture (Grupo Iusacell Sa De Cv)
Defaulted Interest. Any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, for on any Interest Payment Date (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holders in whose names the Securities were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) interest. The Company may shall make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 11.03. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)Special Record Date.
(b) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (American Realty Capital Properties, Inc.), Indenture (CapLease, Inc.)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the record date for such interest or liquidated damages. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, if any, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (HPSC Inc), Indenture (HPSC Inc)
Defaulted Interest. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Defaulted Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Noteholder on the relevant regular record date Interest Record Date by virtue of its having been such holder; Noteholder, and such Defaulted Interest shall be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities the Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing as soon as practicable of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed paymentpayment (which shall be not less than twenty-five days after the receipt by the Trustee of such notice, unless the Trustee shall consent to an earlier date), and at the same time the Company shall deposit with the Trustee (or any Paying Agent designated for such purpose) an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor fifteen days and not less than 10 seven days prior to the date of the proposed payment payment, and not less than 10 ten days after the receipt by the Trustee of the notice of the proposed paymentpayment (unless the Trustee shall consent to an earlier date). The Trustee Company shall promptly notify the Company Trustee, in writing, of such special record date andand the Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, delivered to each Securityholder at his or her address as it appears in the Security Register, Noteholders pursuant to Section 15.03 not less than 10 ten days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso delivered, such Defaulted Interest shall be paid by the Trustee (or such Paying Agent) to the Persons in whose names such Securities the Notes (or their respective Predecessor SecuritiesNotes) are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)2) of this Section 2.03.
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which such Securities the Notes may be listedlisted or designated for issuance, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trusteeexchange or automated quotation system.
Appears in 2 contracts
Samples: Indenture (Qiagen Nv), Indenture (Qiagen Nv)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuer may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuer shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuer shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuer, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder's address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (b)) below.
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 2 contracts
Defaulted Interest. Any Except as otherwise specified with --------------------------------- respect to the Securities, any semiannual or contingent interest on any Security that is payable, but is not punctually paid or duly provided for, on within 30 days following any Interest Payment Date applicable payment date (herein called "Defaulted Interest") , which term shall include any accrued and unpaid interest that has accrued on such defaulted amount in accordance with paragraph 1 of the Securities), shall forthwith cease to be payable to the holder registered Holder thereof on the relevant regular record date Regular Record Date or accrual date, as the case may be, by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentpayment (which shall not be less than 20 days after such notice is received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder of Securities at his or her address as it appears in on the Security Register, list of Securityholders maintained pursuant to Section 2.05 not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor Securities) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any the Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Marriott International Inc /Md/), Indenture (Danaher Corp /De/)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided forwhen the same becomes due and payable and such nonpayment continues for a period of 30 calendar days, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; Regular Record Date, and such defaulted interest and interest (to the extent lawful) on such defaulted interest at the annual rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest Interest”) shall be paid by the Company, Issuer at its election, in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on a special record date Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date (not less than 30 calendar days after such notice) of the proposed paymentpayment (the “Special Interest Payment Date”), and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest which shall be not be more than 15 nor fifteen calendar days and not less than 10 ten calendar days prior to the date of the proposed payment Special Interest Payment Date and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date andSpecial Record Date, and in the name and at the expense of the CompanyIssuer, shall promptly cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor to be mailed, first class postage prepaid, given to each Securityholder at his or her address as it appears in the Security RegisterHolder, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date and Special Interest Payment Date therefor having been mailed as aforesaidso given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names such Securities the Notes (or their respective Predecessor Securitiespredecessor Notes) are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).
(b) The Company Issuer may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
(c) Subject to the foregoing provisions of this Section 2.13, each Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note.
Appears in 2 contracts
Samples: Indenture (Nabors Industries LTD), Indenture (Spansion Inc.)
Defaulted Interest. Any When any installment of interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "becomes Defaulted Interest") , such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the Company, at its election, as provided in clause (aSection 2.12(a) or clause (b) below:).
(a) The Company may elect to make payment of any Defaulted Interest (including any interest on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.12(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Registerregistration books of the Registrar, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (bSection 2.12(b).
(b) The Alternatively, the Company may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clauseSection 2.12(b), such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Southwestern Energy Co), Indenture (Southwestern Energy Co)
Defaulted Interest. Any interest on any Security Debenture that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder on the relevant regular record date by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (a) or clause (b) below:
(a) The Company may make payment of any Defaulted Interest on Securities Debentures to the Persons in whose names such Securities Debentures (or their respective Predecessor Securitiespredecessor Debentures) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Debenture and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor therefore to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Registersecurity register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities Debentures (or their respective Predecessor Securitiespredecessor Debentures) are registered on such special record date and shall be no longer payable pursuant to the following clause (b).
(b) The Company may make payment of any Defaulted Interest on any Securities Debentures in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities Debentures may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee Trustees of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: First Supplemental Indenture (Interpool Inc), First Supplemental Indenture (Interpool Inc)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(b) The Company Issuer may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Seadrill Partners LLC), Indenture (Seadrill Partners LLC)
Defaulted Interest. Any interest on any Security that the Notes which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and in this Indenture (herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, sent to each Securityholder Holder thereof at his or her its address as it appears in the Security Notes Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso sent, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (EnLink Midstream, LLC), Indenture (EnLink Midstream Partners, LP)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed paymentparent, and at the same time the Company shall deposit with the Trustee an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Montgomery Cellular Telephone Co Inc), Indenture (Price Communications Corp)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on the Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money Cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money Cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Tower Automotive Inc), Indenture (United States Filter Corp)
Defaulted Interest. Any interest Interest or Additional Interest, if any, on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on Record Date for such interest. Any interest or Additional Interest, if any, on any Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest or Additional Interest, if any, payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder registered Holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date Special Record Date and, in the name and at the expense of the CompanyIssuer, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company Issuer may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee in its sole discretion. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Centennial Communications Corp /De), Indenture (Centennial Communications Corp /De)
Defaulted Interest. Any interest on any Debt Security that of a particular series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Debt Securities of such series and in this Indenture (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder thereof on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyPartnership, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) The Company Partnership may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Partnership shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security of such series and the date of the proposed payment, and at the same time the Company Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Partnership of such special record date and, in the name and at the expense of the CompanyPartnership, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaidpre-paid, to each Securityholder Holder thereof at his or her its address as it appears in the Debt Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names the Debt Securities of such Securities (or their respective Predecessor Securities) series are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(b) The Company Partnership may make payment of any Defaulted Interest on any the Debt Securities of such series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of such Securities series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Partnership to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Samples: Indenture (Northern Border Partners Lp), Indenture (Northern Border Partners Lp)
Defaulted Interest. Any interest on any Security that Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (herein called "Defaulted Interest") shall forthwith cease to be payable to the holder Holder on the relevant regular record date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuer, at its electionelection in each case, as provided in clause (ai) or clause (bii) below:
(ai) The Company Issuer may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, given to each Securityholder at his or her address as it appears in the Security RegisterHolder, not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer payable pursuant to the following clause (b)date.
(bii) The Company Issuer may make payment of any Defaulted Default Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.11, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (Pt Polytama Propindo), Indenture (Pt Polytama Propindo)
Defaulted Interest. Any When any installment of interest becomes Defaulted Interest on any Security that is payableNotes, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") such installment shall forthwith cease to be payable to the holder Holders in whose names the Notes were registered on the relevant regular record date by virtue Record Date applicable to such installment of having been such holder; and interest. Defaulted Interest (including any interest on such Defaulted Interest Interest) shall be paid by the CompanyIssuer, at its election, as provided in clause (a) or clause (b) below:.
(a) The Company Issuer may elect to make payment of any Defaulted Interest (including any interest payable on Securities such Defaulted Interest) to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted InterestInterest (a “Special Record Date”), which shall be fixed in the following manner: the Company . The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons Holders entitled to such Defaulted Interest as provided in this clause providedSection 2.13(a). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest Interest, which shall be not be more than 15 nor calendar days and not less than 10 ten calendar days prior to the date of the proposed payment and not less than 10 ten calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company Issuer of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailedsent, first first-class mail, postage prepaid, to each Securityholder Holder at his or her such Holder’s address as it appears in the Security Note Register, not less than 10 ten calendar days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons Holders in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b).) below; or
(b) The Company Issuer may make payment of any Defaulted Interest (including any interest on any Securities such Defaulted Interest) in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuer to the Trustee of the proposed payment pursuant to this clauseSection 2.13(b), such manner of payment shall be deemed practicable by the Trustee. The Trustee shall in the name and at the expense of the Issuer cause prompt notice of the proposed payment and the date thereof to be sent, first-class mail, postage prepaid, to each Holder at such Holder’s address as it appears in the Note Register.
Appears in 2 contracts
Samples: Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv)
Defaulted Interest. Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Security (or one or more predecessor Securities) is registered at the close of business on Record Date for such interest. Any interest on any Security that which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date plus, to the extent lawful, any interest payable on the defaulted interest (herein called "Defaulted Interest") shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder; Record Date, and such Defaulted Interest shall may be paid by the Company, at its electionelection in each case, as provided in clause (a1) or clause (b2) below:
(a1) The Company may elect to make payment of any Defaulted Interest on Securities to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered at the close of business on a special record date Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the . The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money cash equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money cash when deposited to be held in trust for the benefit of the Persons persons entitled to such Defaulted Interest as provided in this clause provided(1). Thereupon the Trustee shall fix a special record date Special Record Date for the payment of such Defaulted Interest which shall be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor to be mailed, first first-class postage prepaid, to each Securityholder Holder at his or her address as it appears in the Security Register, register not less than 10 days prior to such special record dateSpecial Record Date. Notice of the proposed payment of such Defaulted Interest and the special record date Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons persons in whose names such the Securities (or their respective Predecessor predecessor Securities) are registered on such special record date Special Record Date and shall be no longer be payable pursuant to the following clause (b2).
(b2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeTrustee in its sole discretion. Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Appears in 2 contracts
Samples: Indenture (American Cellular Corp /De/), Indenture (Pricellular Corp)
Defaulted Interest. Any interest on any Security Note that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date the dates and in the manner provided in the Notes and this Indenture (all such interest herein called "“Defaulted Interest"”) shall forthwith cease to be payable to the holder Holder on the relevant regular record date Record Date by virtue of having been such holder; Holder, and such Defaulted Interest shall may be paid by the CompanyIssuers, at its electionelection in each case, as provided in clause (a) or clause (b) below:
(a) of this Section 2.12: The Company Issuers may elect to make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company . The Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security Note and the date of the proposed payment, and at the same time the Company shall Issuers may deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest Interest; or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon In addition, the Trustee Issuers shall fix a special record date for the payment of such Defaulted Interest which shall Interest, such date to be not be more than 15 nor days and not less than 10 days prior to the date of the proposed payment date and not less than 10 15 days after the receipt by the Trustee of the notice of the proposed paymentpayment date. The Trustee Issuers shall promptly but, in any event, not less than 15 days prior to the special record date, notify the Company Trustee of such special record date and, in the name and at the expense of the CompanyIssuers, the Trustee shall cause notice of the proposed payment date of such Defaulted Interest and the special record date therefor to be mailedmailed first-class, first class postage prepaid, prepaid to each Securityholder at his or her Holder as such Holder’s address as it appears in the Security Register, not less than 10 days prior to such special record date. Notice of the proposed payment date of such Defaulted Interest and the special record date therefor having been mailed as aforesaidso mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) the Notes are registered at the close of business on such special record date and shall be no longer be payable pursuant to the following clause (bSection 2.12(b).
(b) . The Company Issuers may make payment of any Defaulted Interest on any Securities the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities the Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company Issuers to the Trustee of the proposed payment date pursuant to this clause, such manner of payment shall be deemed practicable reasonably practicable. Subject to the foregoing provisions of this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by the Trusteesuch other Note.
Appears in 2 contracts
Samples: Indenture (Ardagh Group S.A.), Indenture (Ardagh Group S.A.)