Deposit of Redemption or Purchase Price. Payments on Notes that are to be redeemed or purchased in an offer to purchase will be made in accordance with Section 3.2 of this Agreement. If Parent Issuer complies with the provisions of the immediately preceding paragraph, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest to the date of redemption will be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of Parent Issuer to comply with the preceding paragraph, interest shall be paid in cash on the unpaid Principal Amount, from the redemption or purchase date until such Principal Amount is paid, at the rate provided in the Notes and in accordance with Section 3.2 hereof.
Appears in 4 contracts
Sources: Second Lien Subordinated Note Purchase Agreement (NextWave Wireless Inc.), Third Lien Subordinated Exchange Note Exchange Agreement (Manchester Financial Group, LP), Third Lien Subordinated Exchange Note Exchange Agreement (NextWave Wireless Inc.)
Deposit of Redemption or Purchase Price. Payments on Notes that are to be redeemed or purchased in an offer to purchase will be made in accordance with Section 3.2 of this Agreement. If Parent Issuer the Company complies with the provisions of the immediately preceding paragraph, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest to the date of redemption will be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of Parent Issuer the Company to comply with the preceding paragraph, interest shall be paid in cash on the unpaid Principal Amount, from the redemption or purchase date until such Principal Amount is paid, at the rate provided in the Notes and in accordance with Section 3.2 hereof.
Appears in 4 contracts
Sources: Second Lien Subordinated Note Purchase Agreement (NextWave Wireless Inc.), Third Lien Subordinated Exchange Note Exchange Agreement (Manchester Financial Group, LP), Third Lien Subordinated Exchange Note Exchange Agreement (NextWave Wireless Inc.)
Deposit of Redemption or Purchase Price. Payments on Notes that are to be redeemed or purchased in an offer to purchase will be made in accordance with Section 3.2 of this Agreement3.2. If Parent Issuer the Company complies with the provisions of the immediately preceding paragraph, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest to the date of redemption will be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of Parent Issuer the Company to comply with the preceding paragraph, interest shall will be paid in cash on the unpaid Principal Amountprincipal, from the redemption or purchase date until such Principal Amount principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in accordance with Section 3.2 hereof1.5.
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