Interest upon conversion due to early redemption Clause Samples

Interest upon conversion due to early redemption. If: (i) any notice requiring the redemption of any Notes is given pursuant to Condition 7(b) (Redemption and Purchase - Redemption at the option of the Issuer) on or after (or within 14 days before) the Record Date (the “Relevant Record Date”) in respect of any dividend payable in respect of the Shares; (ii) such notice specifies a date for redemption falling on or before (or within 14 days after) the Interest Payment Date next following the Relevant Record Date; and (iii) the Conversion Date in respect of any Note the subject of any such notice (a “Relevant Note”) falls after the Relevant Record Date and on or before the Interest Payment Date next following the Relevant Record Date, then interest shall accrue on each Relevant Note from and including the preceding Interest Payment Date (or, if the relevant Conversion Date falls on or before the first Interest Payment Date, from and including the Issue Date) to but excluding the Relevant Record Date. Any such interest shall be paid not later than 14 days after the relevant Conversion Date by U.S. dollar cheque drawn on, or by transfer to a U.S. dollar account maintained by the payee with, a bank in New York City, in accordance with instructions given by the relevant Noteholder or, in the case of an election by the Trustee pursuant to Condition 15(a) (Trustee’s Discretion to Convert Before Redemption - Parity exceeds redemption moneys), the Trustee.