Interest; Original Issue Discount Sample Clauses

Interest; Original Issue Discount. This Debenture is issued as an original issue discount debenture and there are no regularly scheduled interest payments on this Debenture except as set forth in Section 8(b).
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Interest; Original Issue Discount. Subject to the occurrence of an Event of Default, there are no regularly scheduled interest payments on this Debenture.
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Interest; Original Issue Discount. The Notes shall not bear interest; provided that upon the occurrence and during the continuance of any Event of Default, all outstanding Obligations shall bear interest during such period at an interest rate per annum equal to the Default Rate to the fullest extent permitted by applicable laws of the State of New York and shall be payable on demand. All interest under the Notes shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The Company and each Purchaser agree that each Note will be issued to the respective Purchaser for an amount equal to the product of the face amount of each Note (the “Original Note Amount”) multiplied by 0.90 (with such original issue discount being equated to interest and being net funded from the proceeds of the issuance of the Notes). For the avoidance of doubt, (i) on the Effective Date, each Purchaser shall advance to the Company an amount equal to the product of the Original Note Amount multiplied by 0.90 in exchange for the Company’s obligations to repay in full the Original Note Amount in accordance with the terms hereof and (ii) all calculations of amounts payable in respect of the Notes will be calculated on the basis of each Note’s full stated principal amount. The original issue discount on each Note pursuant to this Section 1(b) shall be deemed earned in full by each Purchaser on and as of the Effective Date. The original issue discount hereunder shall in no event exceed the maximum rate permissible under applicable law. If such original issue discount hereunder is ever reduced as a result of this paragraph and at any time thereafter the maximum rate permitted by the laws of the State of New York shall exceed the rate of equated interest provided for in each Note, then such equated rate provided for in each Note shall be increased to the maximum rate provided by the laws of the State of New York for such period as is required so that the total amount of equated interest received by each Purchaser is that which would have been received by each Purchaser but for the operation of the first sentence of this paragraph.
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Interest; Original Issue Discount 
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Related to Interest; Original Issue Discount

  • Original Issue Discount If any of the Securities is an Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each calendar year (1) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount Securities as of the end of such year and (2) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code.

  • Calculation of Original Issue Discount The Company shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time.

  • Original Issue Discount Security 13 Outstanding...................................................13

  • Original Issue Discount Legend Each Note issued with original issue discount, if any, will bear a legend in substantially the following form: “FOR THE PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT; FOR EACH $1,000 IN AGGREGATE PRINCIPAL AMOUNT OF THIS SECURITY, THE ISSUE PRICE IS $[ ], THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS $[ ], THE ISSUE DATE IS [ ], 201[ ] AND THE YIELD TO MATURITY IS [ ]% PER ANNUM.”

  • Original Issue Discount; Transaction Expense Amount The Note carries an original issue discount of $300,000.00 (the “OID”). In addition, Company agrees to pay $20,000.00 to Investor to cover Investor’s legal fees, accounting costs, due diligence, monitoring and other transaction costs incurred in connection with the purchase and sale of the Securities (the “Transaction Expense Amount”), all of which amount is included in the initial principal balance of the Note. The “Purchase Price”, therefore, shall be $3,000,000.00, computed as follows: $3,320,000.00 initial principal balance, less the OID, less the Transaction Expense Amount.

  • Original Issue of Notes The Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such Notes as in such Company Order provided.

  • ORIGINAL ISSUE OF DEBENTURES Debentures in the aggregate principal amount of $ may, upon execution of this First Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Debentures to or upon the written order of the Company, signed by its Chairman, its Vice Chairman, its President, or any Vice President and its Treasurer or an Assistant Treasurer, without any further action by the Company.

  • Original Issuance of Notes Section 2.01 Form........................................................... Section 2.02 Execution, Authentication and Delivery.........................

  • Original Issue The Notes may, upon execution of this Thirteenth Supplemental Indenture, be executed by the Company and delivered by the Company and the Parent Guarantor to the Trustee for authentication, and the Trustee shall, upon Company order, authenticate and deliver such Notes as in such Company order provided.

  • Yield to Maturity 8 ARTICLE TWO

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