Description of the Debentures. The Debentures shall be in the aggregate principal amount and shall mature on the date specified in Schedule I hereto, and shall be issued under and secured by the Indenture (For Unsecured Subordinated Debt Securities) dated as of December 1, 1995 ("Indenture"), of the Company to The First National Bank of Chicago as Trustee ("Trustee"). The Debentures shall bear interest at the rate per annum specified in Schedule I hereto. The Debentures and the Indenture are more fully described in the Prospectus hereinafter referred to.
Description of the Debentures. Camtek will authorize the issue and delivery of the Debentures in the aggregate principal amount of US$5,000,000. The term of the Debentures shall commence upon the Closing and shall terminate at the end of the fifth anniversary of the Closing. The Debentures shall be convertible, in whole or in part, into such number of issued and outstanding Ordinary Shares of Camtek as determined by dividing (x) the principal amount of the Debentures outstanding and to be converted at such time by (y) the Conversion Price (as defined below). Subject to the Default provisions set forth below, (i) the principal shall be repaid in three equal annual payments commencing at the end of the third anniversary of the Closing; provided, however, that prior to each payment date, the Investors, at their sole discretion, may elect, by giving an irrevocable written notice to Camtek, at least seven (7) Business Days prior to a payment date, to have any portion of the principal be deferred and repaid on the fifth anniversary of the Closing; (ii) the Debentures shall bear dollar denominated interest, payable quarterly, at a floating annual rate equal to the then applicable 3 months’ LIBOR plus 2.1%, in each case with such interest payment being supplemented by applicable value added tax; provided, however, that any interest accrued and unpaid on the date on which the conversion of the Debentures is effected shall become immediately payable on such date of conversion; and (iii) be otherwise substantially in the form attached hereto as Exhibit 5(a). For the avoidance of doubt, the Debentures may not be prepaid without the Investors prior consent. Interest on each of the Debentures shall be computed on the basis of a 360 day year. For the purposes of this Section 5, any payment due to be made on a day which is not a Business Day shall be deferred to the next Business Day.
Description of the Debentures. The Company has ----------------------------- authorized the issue and sale of Subordinated Convertible Debentures, in an aggregate principal amount not to exceed $10,000,000 in the form of Exhibit ------- B hereto, convertible into shares of the Company's common stock, $.01 par - value (the "Common Stock"), as set forth in Section 7 hereof (such Subordinated Convertible Debentures are hereinafter referred to as the "Debentures"). The Debentures will be dated the date of issue and bear interest at the rate of 7% per annum, payable semiannually, as provided therein. Principal of the Debentures shall be due and payable on February 13, 2008. On the Closing Date, the Company shall deliver to each Investor an executed copy of a Registration Rights Agreement in respect of the Debentures and the Warrants (as defined in Section 10.4 hereof) in substantially the form of Exhibit C hereto. ---------
Description of the Debentures. The relative rights, preferences and limitations of the Debentures shall be, as follows: Purchasing Price 100% of face value. Closing Payment of funds into escrow; release of funds to the Company upon delivery of securities. Term 3 years from the date of issuance. Interest 12% per annum, payable quarterly on March 1, June 1, September 1 and December 1 in arrears, commencing on September 1, 1999. This interest rate will only be guaranteed for Debentures issued in the first tranche. Redemption Rights The Debentures cannot be redeemed during 12 months following the issue date. Between'12 months and 18 months from the issue date, the Company may redeem the Debentures at its sole discretion from time to time and in whole or in part, at a Interest Reserve Conversion Rights Registration Rights Ranking Security redemption price of 100% of the principal amount thereof, together with accrued and unpaid interest to the date of redemption, plus a 5% premium to the face value. The Premium will be paid in Company's Common Stock with no registration rights. If the Debentures are redeemed in part, redemption will be done on a pro-rata basis. The Company is required to maintain a fund sufficient to pay six months interest on the Debentures. The holders will have the right to convert the debenture into the common stock of the company after 12 months from the issue date. Conversion price will be $1.00 per share. After the 12 months from the issue date, should the share price of the Company be equal to or greater than $1.50 per share for 20 consecutive trading days, the Company shall have the right to force conversion of all outstanding Debentures at the average of the share price during the said 20 day trading period. The Company agrees to register with Securities and Exchange Commission (the "SEC"), the shares underlying the Debentures within 12 months of the Closing. The Debentures will be expressly subordinated to, and subject in right of payment to, the prior payment of the principal of, premium, if any, and interest on Senior indebtedness (as defined). Secured by a second priority security interest in all assets of the Company.
Description of the Debentures. Each Debenture shall be in the principal amount of the accepted or allocated Subscription, shall be dated the Closing Date, shall bear interest from the date of its issuance on the unpaid principal balance at the rate of 6% per annum payable quarterly on the last day of March, June, September and December, commencing on the first of such dates immediately following the Closing Date, with a final interest payment on December 31, 2002 (the "Mandatory Conversion Date"), the date on which the Debentures shall be automatically converted to Company Common Stock in accordance with the Mandatory Conversion Ratio. The form of the Debenture is attached as Exhibit A. Reference is made to the Debenture, whose terms are incorporated herein by reference.
Description of the Debentures. The aggregate principal amount of Debentures that may be issued under this Indenture is U.S.$71,168,174.00. The Debentures originally issued hereunder shall be dated on the Issue Date. The Debentures shall be senior unsecured obligations of the Corporation and, subject to Article 6 and Article 7, shall become due and payable, together with all accrued and unpaid interest thereon, on August 11, 2018. The Debentures shall be subject to repurchase by the Corporation as provided in Article 5 and Article 6. The Debentures shall not be redeemable by the Corporation, other than as provided in Article 7. The Debentures shall be convertible into Common Shares or other securities of the Corporation, as provided for in Article 8, and in the Debentures.
