Common use of Interest Clause in Contracts

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay interest on the principal amount of this Note at a rate per annum as set forth below, from the Issue Date until maturity. The Company will pay interest semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Vantage Drilling International), Indenture (OFFSHORE GROUP INVESTMENT LTD)

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Interest. Offshore Group Investment LimitedWhere Counsel’s fees ought, a Cayman Islands exempted company (under the “Company”), promises to pay interest on the principal amount terms of this Note Agreement, to have been paid, then interest will begin to run from the 31st day after payment, such interest being calculated at a rate of 8 percent per annum annum, or such other rate as may be set forth out in correspondence. Where interest is recovered from the Opponent which covers the period of non-payment (including the first 31 days) and where this is at a rate that exceeds 8 percent, then the provisions immediately below will, with the necessary changes, apply to the period in question. Where interest on costs is recovered from the Opponent, then (to the extent that Counsel’s fees were unpaid at the material time) Counsel will be entitled to a proportionate share of that interest, that proportion being based on the sums reasonable claimed during the period in question. This provision will apply regardless of whether Counsel is otherwise entitled to interest. To the extent that the law requires such a provision for the purposes of satisfying the indemnity principle, the Professional Client agrees that such monies are payable by him on behalf of the Lay Client as if those monies were part of Counsel’s fees generally. Notwithstanding the provisions below, from where the Issue Date until maturityProfessional Client holds any monies on trust for Counsel and where, without good reason, those monies are not paid to Counsel within 14 days of receipt by the Professional Client, Counsel will entitled to punitive interest at a rate of 1.25 percent per month, compounded at monthly rests. The Company will pay interest semi-annually in arrears on June 30 and December 31 For the avoidance of each yeardoubt, commencing on June 30, 2016, or if any such day this Agreement is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the IndentureType Three Agreement, interest on between the Notes Professional Client and Counsel will accrue from the most recent Interest Payment Date or, if no interest has been paid, begin to run only from the date of issuance; provided that if there is no existing Default receipt of the monies in question from the Opponent. Where Counsel has agreed to adjust his fees to take account of the monies recovered from the Opponent, or where he has agreed to postpone negotiations about payment until after such monies are received, Counsel will be entitled to interest only after having given written notice of interest, and if this Note is authenticated between a Record Date referred his intention to on do so. Unless exceptional circumstances exist (such as the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest sums in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premiumquestion being unusually large), if anysuch notice may not be given any sooner than 6 months after the relevant entitlement to costs arose. Where such notice is given, and then a reasonable rate of interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interestpayable, the Company shall pay Default Interest, if anywhich, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as default of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture agreement to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturewill be 1.5 percent above LIBOR.

Appears in 2 contracts

Samples: Conditional Fee Agreement, www.barcouncilethics.co.uk

Interest. Offshore Group Investment LimitedArcelorMittal, a Cayman Islands exempted company (the “Company”), promises to société anonyme organized under Luxembourg law will pay interest on the principal amount of this Note the US $500,000,000 Securities at a rate 6.250% per annum as set forth from February 28, 2012 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Sixth Supplemental Indenture referred to below, from the Issue Date until maturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture (as amended by Article IV of the Sixth Supplemental Indenture referred to below), semi-annually in arrears on June 30 February 25 and December 31 August 25 of each year, year (each an Interest Payment Date) commencing on June 30August 25, 20162012, to the Holders of Securities registered as such as of close of business on February 10 and August 10, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or if any such day the maturity date in respect of the Securities is not a Business DayDay in the Place of Payment, we will pay interest or principal, as the case may be, on the next succeeding Business Day. Except Payments postponed to the next Business Day in this situation will be treated under this Indenture as otherwise provided if they were made on the original due date. Postponement of this kind will not result in Sections 2.11 and 2.14 of a default under the Securities or this Indenture, and no interest will accrue on the Notes postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the most recent Interest Payment Closing Date or, if no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of issuance; provided that if there is no existing Default in the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of interestprincipal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, and if this Note is authenticated between a Record Date referred in which case interest will continue to accrue on the face hereof and Securities at the next succeeding Interest Payment Daterates set forth above, interest shall accrue from as the case may be, until the earlier of (a) the day on which all sums due in respect of such next succeeding Interest Payment Date. The Company will pay interest Securities up to that day are received by the relevant Holder or (including post-petition interest b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess respect of the then applicable interest rate on the Notes such Securities up to that seventh day, except to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If that there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, is failure in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior subsequent payment to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturerelevant Holders following such notification.

Appears in 2 contracts

Samples: ArcelorMittal, ArcelorMittal

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the unpaid principal amount of this Note at a rate of twelve percent (12%) per annum as set forth below, from (the Issue Date until maturity"Interest Rate") commencing on the date hereof. The Company will pay interest semi-annually in arrears on June 30 August 15, 2002 and December 31 February 15 of each yearyear or, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (the "Interest Payment Date"), commencing August 15. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, however, that if there is no existing -------- ------- Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Interest shall accrue with respect to principal on this Note to, but not including the date of repayment of such principal; provided, however, that if -------- ------- payment to the Paying Agent occurs after 10:00 a.m., New York City time, interest shall be deemed to accrue until the following Business Day. On each Interest Payment Date, interest on the Notes will be paid for the immediately preceding accrual period. Any accrued and unpaid interest outstanding on the Maturity Date shall be paid on the Maturity Date concurrently with payment of the Principal. To the extent lawful, the Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on (i) overdue principal, premium (including the Applicable Premium)Principal, if any, at a rate equal to the sum of the Interest Rate and interest an additional two percent (2%) per annum (such sum being referred to herein as the "Default Rate"), compounded semiannually; and (ii) overdue installments of interest, if any (without regard to any applicable grace period)) at the Default Rate, from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulcompounded semiannually. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Cellstar Corp), Indenture (Cellstar Corp)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), This Security shall accrue interest at an initial rate of 4.0% per annum. The Company promises to pay interest on the principal amount of this Note at a rate per annum as set forth below, from the Issue Date until maturity. The Company will pay interest semi-annually Securities in arrears cash semiannually on June 30 each May 23 and December 31 of each yearNovember 23, commencing on June 30November 23, 20162003, or if any such day is not a Business Day, to Holders of record on the next succeeding Business Dayimmediately preceding May 1 and November 1, respectively. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes Securities will accrue from the most recent Interest Payment Date ordate to which interest has been paid, or if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Issue Date, interest shall accrue from such next succeeding Interest Payment Dateuntil the principal amount is paid or duly made available for payment. The Company will pay interest (including post-petition on any overdue principal amount at the interest in any proceeding under any Bankruptcy Law) rate borne by the Securities at the time such interest on the overdue principal amount accrues, compounded semiannually, and it shall pay interest on overdue principal, premium (including the Applicable Premium)installments of interest and Liquidated Damages, if any, and interest any (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable same interest rate compounded semiannually. Interest (including Contingent Interest, if any) on the Notes to the extent lawful. Interest Securities will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify shall pay additional interest ("Contingent Interest") to the Trustee in writing Holders during any six-month period (a "Contingent Interest Period") from May 23 to, but excluding, November 23 and from November 23 to, but excluding, May 23, with the initial six-month period commencing May 23, 2008, if the average of the Security Trading Price for the five Trading Days ending on the third Trading Day immediately preceding the first day of the applicable Contingent Interest Period equals $1,200 or more. The amount of interest proposed to be paid Contingent Interest payable per $1,000 principal amount of Securities in respect of any Contingent Interest Period shall equal 0.50% per annum on each Note and the date $1,000 of the proposed paymentSecurities. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the The Company will pay Default Interest, the Company shall pay Default Contingent Interest, if any, in the same manner as other interestit will pay interest as described above. Upon determination that Holders will be entitled to receive Contingent Interest for a Contingent Interest Period, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum or prior to the fourth anniversary first day of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Datesuch Contingent Interest Period, the final interest payment Company shall issue a press release and publish such information on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureits web site at xxxx://xxx.xxxxxx.xxx.

Appears in 2 contracts

Samples: Indenture (Kaydon Corp), Indenture (Kaydon Corp)

Interest. Offshore Group Investment LimitedChange Healthcare Holdings, LLC, a Cayman Islands exempted Delaware limited liability company (such Person, and its respective successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), promises Change Healthcare Finance, Inc., a Delaware corporation (such Person, and its respective successors and assigns under the Indenture hereinafter referred to, being herein called the “Co-Issuer” and, together with the Issuer, the “Issuers”), jointly and severally, promise to pay interest on the principal amount of this Note at a rate per annum as set forth belowof 5.75% from February 15, from the Issue Date 20173 until maturity. The Company Issuers will pay interest on this Note semi-annually in arrears on June 30 March 1 and December 31 September 1 of each year, commencing on June 30beginning September 1, 20162017, or or, if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 The Issuers will make each interest payment to the Holder of the Indenture, interest record of this Note on the Notes immediately preceding February 15 and August 15 (each, a “Record Date”). Interest on this Note will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from and including the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. issuance.4 The Company Issuers will pay interest (including post-petition postpetition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and from time to time on demand at the rate borne by this Note; the Issuers shall pay interest (including postpetition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), periods) from time to time on demand at a the rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulborne by this Note. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Change Healthcare Inc.), Indenture (Change Healthcare Inc.)

Interest. Offshore Group Investment LimitedConnect Xxxxx SARL, a Cayman Islands exempted private limited liability company (société à responsabilité limitée) incorporated under the laws of Luxembourg, having its registered office at 0-0, Xxxxxxxxx xx xx Xxxxx, X-0000 Xxxxxxxxxx, Grand Duchy of Luxembourg, registered with the Luxembourg Register of Commerce and Companies (R.C.S. Luxembourg) under number B 233109, and a Wholly Owned Subsidiary of the Company (the “CompanyLuxembourg Issuer”), promises and Connect U.S. Xxxxx LLC, a limited liability company organized and existing under the laws of the State of Delaware and a Wholly Owned Subsidiary of the Company (the “U.S. Issuer,” together with the Luxembourg Issuer, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate 6.750% per annum as set forth belowfrom October 7, from the Issue Date 2019 until maturity. The Company Issuers will pay interest semi-annually in arrears on June 30 April 1 and December 31 October 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except Day (each, an “Interest Payment Date”) and no interest shall accrue on such payment as otherwise provided in Sections 2.11 and 2.14 the result of the Indenture, interest delay. Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding first Interest Payment DateDate shall be April 1, interest shall accrue from such next succeeding Interest Payment Date2020. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and from time to time on demand at the interest rate on the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), periods) from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulNotes. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement

Interest. Offshore Group Investment LimitedLegacy Reserves LP, a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and Legacy Reserves Finance Corporation, a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 6.625% per annum as set forth from May 28, 2013 until maturity and shall pay the Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 1 and December 31 1 of each year, commencing on June 30December 1, 20162013, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Legacy Reserves Inc.), Indenture (Legacy Reserves Lp)

Interest. Offshore Group Investment LimitedThe Musicland Group, Inc., a Cayman Islands exempted company Delaware corporation, or its successor (the “Company”"COMPANY"), promises to pay interest on the principal amount of this Senior Subordinated Note at a the rate of 9_% per annum as set forth and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages, if any, in United States dollars (except as otherwise provided herein) semi-annually in arrears on June 30 March 15 and December 31 of each yearSeptember 15, commencing on June 30September 15, 20161998, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "INTEREST PAYMENT DATE"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Senior Subordinated Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided PROVIDED that if there is no existing Default or Event of Default in the payment of interest, and if this Senior Subordinated Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the ------------------------------ 1 These paragraphs should be removed upon the exchange of Regulation S Temporary Global Notes for Regulation S Permanent Global Notes pursuant to the Indenture. original issuance of Senior Subordinated Notes, in which case interest shall accrue from the date of authentication. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including principal at the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Senior Subordinated Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable grace period) at the same rate to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Musicland Stores Corp, Musicland Group Inc /De

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the principal amount of this Note at a rate 91/2% per annum as set forth below, from the Issue Date date hereof until maturity. maturity [and shall pay Additional Interest, if any, as provided in the Registration Rights Agreement, dated January 20, 2011+ referred below].* The Company will shall pay interest [and Additional Interest, if any,] semi-annually in arrears on June 30 February 15th and December 31 August 15th of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Dayyear (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid on the Notes (or one or more Predecessor Notes) or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be [August 15, 2011]:. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal borne by the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest] (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify If an Interest Payment Date is not a Business Day, payment may be made on the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand next succeeding day that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interestis a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 9½% Senior Notes due 2019 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the same dates as set forth Initial Note in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance connection with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureRegistration Rights Agreement.]**

Appears in 2 contracts

Samples: Supplemental Indenture (Laredo Petroleum Holdings, Inc.), Supplemental Indenture (Laredo Petroleum, Inc.)

Interest. Offshore Group Investment LimitedTV One, LLC, a Cayman Islands exempted company Delaware limited liability Company (the “Company”), promises TV One Capital Corp., a Delaware corporation (“Capital Corp.”, and together with the Company, the “Issuers”), promise to pay or cause to be paid interest on the principal amount of this Note at a rate 10.00% per annum as set forth below, from the Issue Date until maturityannum. The Company Issuers will pay interest semi-annually interest, if any, monthly in arrears on June 30 and December 31 the fifteenth (15th) day of each month of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise Day (each, a “Monthly Interest Payment Date”); provided that the Issuers may make a one-time election (a “Semiannual Interest Payment Election”) to pay interest, if any, semiannually in Sections 2.11 and 2.14 arrears on the six-month anniversaries of the IndentureMonthly Interest Payment Date immediately preceding the date of the Semiannual Interest Payment Election, interest or if any such day is not a Business Day, on the next succeeding Business Day (each, a “Semiannual Interest Payment Date” and together with a Monthly Interest Payment Date, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent Interest Payment Date date on which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestthat, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be March 15, 2011. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand principal at a rate equal to that is 1% per annum in excess of higher than the then applicable interest rate on the Notes to the extent lawful; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest, if any (without regard to any applicable grace period), at a rate that is 1% higher than the then applicable interest rate on the Notes to the extent lawful. The Issuers may make a one-time Semiannual Interest Payment Election at any time prior to the beginning of the interest period that begins immediately prior to the Stated Maturity of this Note by delivering a written notice to the Trustee and the Holders. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Global Security (Radio One, Inc.), Indenture (Radio One, Inc.)

Interest. Offshore Group Investment LimitedArcelorMittal, a Cayman Islands exempted company (the “Company”), promises to société anonyme organized under Luxembourg law will pay interest on the principal amount of this Note the US $500,000,000 Securities at a rate 4.500% per annum as set forth from February 28, 2012 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Sixth Supplemental Indenture referred to below, from the Issue Date until maturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture (as amended by Article IV of the Sixth Supplemental Indenture referred to below), semi-annually in arrears on June 30 February 25 and December 31 August 25 of each year, year (each an Interest Payment Date) commencing on June 30August 25, 20162012, to the Holders of Securities registered as such as of close of business on February 10 and August 10, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or if any such day the maturity date in respect of the Securities is not a Business DayDay in the Place of Payment, we will pay interest or principal, as the case may be, on the next succeeding Business Day. Except Payments postponed to the next Business Day in this situation will be treated under this Indenture as otherwise provided if they were made on the original due date. Postponement of this kind will not result in Sections 2.11 and 2.14 of a default under the Securities or this Indenture, and no interest will accrue on the Notes postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the most recent Interest Payment Closing Date or, if no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of issuance; provided that if there is no existing Default in the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of interestprincipal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, and if this Note is authenticated between a Record Date referred in which case interest will continue to accrue on the face hereof and Securities at the next succeeding Interest Payment Daterates set forth above, interest shall accrue from as the case may be, until the earlier of (a) the day on which all sums due in respect of such next succeeding Interest Payment Date. The Company will pay interest Securities up to that day are received by the relevant Holder or (including post-petition interest b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess respect of the then applicable interest rate on the Notes such Securities up to that seventh day, except to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If that there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, is failure in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior subsequent payment to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturerelevant Holders following such notification.

Appears in 2 contracts

Samples: ArcelorMittal, ArcelorMittal

Interest. Offshore Group Investment LimitedTarga Resources Partners LP, a Cayman Islands exempted company Delaware limited partnership (the CompanyTarga Resources Partners”), promises and Targa Resources Partners Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with Targa Resources Partners, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate 5.375% per annum as set forth from October 6, 2016 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes this Note will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be February 1, 2017. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, from time to time on demand at the rate then in effect to the extent lawful; and they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any (without regard to any applicable grace periodperiods), from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Conveyance and Assumption Agreement (Targa Resources Partners LP), Conveyance and Assumption Agreement (Targa Resources Corp.)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Notes will bear interest at 4.375% per annum (the “CompanyCash Interest Rate”), promises subject to pay interest on the principal amount of this Note at a rate per annum PIK Option as set forth described below, as from the Issue Date until maturitythe principal thereof is paid or made available for payment. The Company Interest (other than PIK Interest as described below) will pay be payable in arrears in Dollars on each Interest Payment Date (as defined below). With respect to all or a portion of interest accrued as of as of the date prior to each Interest Payment Date occurring on or prior to the five (5) year anniversary of the Issue Date (the “PIK Option Period”), the Notes will bear interest, at the sole discretion of the Issuer and without the consent of the Holders (and without regard to any restrictions or limitations set forth under Article 4), at (i) the per annum Cash Interest Rate payable in cash or (ii) subject to the limitations on amounts set forth below, a rate equal to the sum of the Cash Interest Rate plus the applicable premium set forth in the table below per annum payable by increasing the outstanding principal amount of the Notes or, with respect to Certificated Notes, issuing additional notes (“PIK Interest” and such payment of PIK Interest hereinafter referred to as “PIK Payment”). Payment of interest shall occur semi-annually in arrears on June 30 April 25 and December 31 October 25 of each yearyear (together with the date of Maturity, commencing the “Interest Payment Dates” and each, an “Interest Payment Date”). If any Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the required payments of principal, premium, if any, and interest, if any, with respect to the Notes will be made on the next succeeding Business Day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date, as the case may be, to the date of such payment on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing months of the amount of interest proposed to be paid on thirty calendar days each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anyand, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●], 2016 (the “Indenture”) among the Companyan incomplete month, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate number of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturecalendar days elapsed.

Appears in 2 contracts

Samples: oec-ri.odebrecht.com, Supplemental Indenture

Interest. Offshore Group Investment LimitedICON Health & Fitness, Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 11.25% per annum as set forth from April 9, 2002 until maturity and shall pay the Additional Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 July 1 and December 31 January 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be July 1, 2002. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Indenture (Icon Health & Fitness Inc), Indenture (Icon Health & Fitness Inc)

Interest. Offshore Group Investment LimitedAPCOA/Standard Parking, Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 14% per annum as set forth from January 11, 2002 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 7 of the Registration Rights Agreement referred to below. Interest in the amount of 10% per annum will be paid in cash, from and interest in the Issue Date until maturityamount of 4% per annum will be paid in additional Notes (the "PIK Notes"). The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an " Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of such Notes issuance; provided PROVIDED that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; PROVIDED, FURTHER, that the first Interest Payment Date shall be June 15, 2002. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. PIK Notes will be issued in denominations of $100.00 principal amount and integral multiples thereof. The Company will notify the Trustee in writing of the amount of PIK Notes issued to any Holder will be rounded down to the nearest $100.00 with any fractional amount paid to such Holder in cash. PIK Notes will bear interest proposed to be (including interest paid on each Note and the date of maturity of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default InterestNotes) and Liquidated Damages, if any, in a manner identical to all other Notes issued under the same manner as other interest, and on Indenture. On the same dates as set forth in maturity date the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note Company will accrue at the rate of 1% per annum prior pay to the fourth anniversary Holder 105% of the Issue Date. From principal amount hereof, plus interest and after the fourth anniversary of the Issue DateLiquidated Damages, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Dateif any, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturethen due.

Appears in 2 contracts

Samples: Apcoa Standard Parking Inc /De/, Ap Holdings Inc

Interest. Offshore Group Investment LimitedArcelorMittal, a Cayman Islands exempted company (the “Company”), promises to société anonyme organized under Luxembourg law will pay interest on the principal amount of this Note the US$1,000,000,000 Securities at a rate 7.000% per annum as set forth from October 8, 2009 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Second Supplemental Indenture referred to below, from the Issue Date until maturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on June 30 April 15 and December 31 October 15 of each year, year (each an Interest Payment Date) commencing on June 30April 15, 20162010, to the Holders of Securities registered as such as of close of business on April 1 and October 1, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or if any such day the maturity date in respect of the Securities is not a Business DayDay in the Place of Payment, we will pay interest or principal, as the case may be, on the next succeeding Business Day. Except Payments postponed to the next Business Day in this situation will be treated under this Indenture as otherwise provided if they were made on the original due date. Postponement of this kind will not result in Sections 2.11 and 2.14 of a default under the Securities or this Indenture, and no interest will accrue on the Notes postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the most recent Interest Payment Closing Date or, if no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of issuance; provided that if there is no existing Default in the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of interestprincipal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, and if this Note is authenticated between a Record Date referred in which case interest will continue to accrue on the face hereof and Securities at the next succeeding Interest Payment Daterates set forth above, interest shall accrue from as the case may be, until the earlier of (a) the day on which all sums due in respect of such next succeeding Interest Payment Date. The Company will pay interest Securities up to that day are received by the relevant Holder or (including post-petition interest b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess respect of the then applicable interest rate on the Notes such Securities up to that seventh day, except to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If that there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, is failure in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior subsequent payment to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturerelevant Holders following such notification.

Appears in 2 contracts

Samples: ArcelorMittal, ArcelorMittal

Interest. Offshore Group Investment LimitedTrinity Industries, Inc., a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Note Security at a the rate of 3 7 / 8 % per annum as set forth below, from the Issue Date until maturityannum. The Company will pay interest semi-annually in arrears semiannually on June 30 1 and December 31 1 of each yearyear commencing December 1, commencing on June 30, 2016, or if any such day is not a Business Day, 2006. Interest on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes Securities will accrue from the most recent Interest Payment Date date to which interest has been paid on the Securities or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestJune 7, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful2006. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Interest on Securities converted after the close of business on a Regular Record Date, but prior to the opening of business on the corresponding interest payment date, will be paid to the Holder on the Regular Record Date but, upon conversion, the Holder must pay the Company the interest which has accrued and will notify be paid to the Trustee Holder on such interest payment date. No such payment need be made with respect to Securities in writing respect of which a Redemption Date has been declared that falls within such period or on such interest payment date. A Holder shall be entitled to receive accrued and unpaid interest, including any Contingent Interest, in respect of a Security (A) if the Company calls such Security for redemption and such Holder converts such Security on or prior to the Redemption Date, (B) if the Company establishes a Fundamental Change Purchase Date during the period from the close of business on any Regular Record Date to the opening of business on the corresponding interest payment date has been established that falls within this period or on such interest payment day and such Holder converts its Security prior to the Fundamental Change Purchase Date, (C) if a Holder converts the Securities following the Record Date immediately preceding the Stated Maturity, or (D) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to a Security. If the principal hereof or any portion of such principal is not paid when due (whether upon acceleration, upon the date set for payment of the amount of interest proposed redemption price pursuant to be paid on each Note and paragraph 6 hereof, upon the date set for payment of a Purchase Price or Fundamental Change Purchase Price pursuant to paragraph 7 hereof or upon the proposed payment. All references to “interest” shall mean the initial Stated Maturity of this Security) or if interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default (including Contingent Interest, if any) due hereon or any portion of such interest is not paid when due in accordance with this paragraph, then in each such case the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue overdue amount shall bear interest at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 123 7 / 8 % per annum, compounded semiannually (to the extent that the payment of such interest shall be legally enforceable), which interest shall accrue from the date such overdue amount was due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments payable on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturedemand.

Appears in 2 contracts

Samples: Trinity Industries Inc, Indenture (Trinity Industries Inc)

Interest. Offshore Group Investment LimitedXxxxxx American Corp., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 11 3/4% per annum as set forth from ________________, 20__ until maturity and shall pay the Liquidated Damages, if any, payable pursuant to the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Execution Copy (M & F Worldwide Corp), Execution Copy (M & F Worldwide Corp)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Notes will bear interest at 5.125% per annum (the “CompanyCash Interest Rate”), promises subject to pay interest on the principal amount of this Note at a rate per annum PIK Option as set forth described below, as from the Issue Date until maturitythe principal thereof is paid or made available for payment. The Company Interest (other than PIK Interest as described below) will pay be payable in arrears in Dollars on each Interest Payment Date (as defined below). With respect to all or a portion of interest accrued as of as of the date prior to each Interest Payment Date occurring on or prior to the five (5) year anniversary of the Issue Date (the “PIK Option Period”), the Notes will bear interest, at the sole discretion of the Issuer and without the consent of the Holders (and without regard to any restrictions or limitations set forth under Article 4), at (i) the per annum Cash Interest Rate payable in cash or (ii) subject to the limitations on amounts set forth below, a rate equal to the sum of the Cash Interest Rate plus the applicable premium set forth in the table below per annum payable by increasing the outstanding principal amount of the Notes or, with respect to Certificated Notes, issuing additional notes (“PIK Interest” and such payment of PIK Interest hereinafter referred to as “PIK Payment”). Payment of interest shall occur semi-annually in arrears on June 30 26 and December 31 26 of each yearyear (together with the date of Maturity, commencing the “Interest Payment Dates” and each, an “Interest Payment Date”). If any Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the required payments of principal, premium, if any, and interest, if any, with respect to the Notes will be made on the next succeeding Business Day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date, as the case may be, to the date of such payment on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing months of the amount of interest proposed to be paid on thirty calendar days each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anyand, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●], 2016 (the “Indenture”) among the Companyan incomplete month, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate number of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturecalendar days elapsed.

Appears in 2 contracts

Samples: oec-ri.odebrecht.com, Supplemental Indenture

Interest. Offshore Group Investment LimitedXxxxxxx Xxxxx Rental, L.P., a Cayman Islands exempted company Pennsylvania limited partnership (the "Company"), promises and Xxxxxxx Xxxxx Capital Corporation, a Delaware corporation ("AC Capital Corp." and, together with the Company, the "Issuers"), promise to pay interest on the principal amount of this Note at a rate 10 3/8% per annum as set forth from February 1, 1999 until maturity and shall pay the Liquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be February 1, 1999. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Senior Subordinated Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Anthony Crane Holdings Capital Corp, Anthony Crane Sales & Leasing Lp

Interest. Offshore Group Investment LimitedEagle Parent, Inc., a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), promises to pay interest on the principal amount of this Note at a rate 8.625% per annum as set forth from May 16, 2011 until maturity and shall pay Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuer will pay interest semi-annually in arrears on June 30 every May 1 and December 31 November 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, that if there is no existing Default in the payment of interestfirst Interest Payment Date shall be November 1, 2011. The Issuer shall pay interest on overdue principal at the rate specified herein, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest it shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium installments of interest (including the Applicable Premium), if any, and interest Additional Interest) (without regard to any applicable grace period), from time to time on demand ) at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify In addition to the Trustee in writing rights provided to Holders of the amount Notes under the Indenture, Holders of interest proposed Registrable Notes (as defined in the Registration Rights Agreement) shall have all rights set forth in the Registration Rights Agreement, dated as of May 16, 2011, among the Issuer, the Guarantor named therein and the other parties named on the signature pages thereto (the “Registration Rights Agreement”), including the right to receive Additional Interest in certain circumstances. If applicable, Additional Interest shall be paid on each Note and to the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anysame Persons, in the same manner and at the same times as regular interest. [Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.]

Appears in 2 contracts

Samples: Indenture (Epicor International Holdings, Inc.), Indenture (Epicor Software Corp)

Interest. Offshore Group Investment LimitedSFX Entertainment, Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 9-1/8% per annum as set forth from February 11, 1998 until maturity and shall pay the Liquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be August 1, 1998. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Indenture (SFX Broadcasting Inc), Indenture (SFX Entertainment Inc)

Interest. Offshore Group Investment LimitedVentas Realty, a Cayman Islands exempted company Limited Partnership and Ventas Capital Corporation (collectively, the “Company”"Issuers"), promises promise to pay interest on the principal amount of this Note at a rate ___% per annum as set forth from ________________, 2002 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 ___________ and December 31 ___________ of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be _____________, 200__. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; the Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Ventas Inc), Indenture (Ventas Inc)

Interest. Offshore Group Investment LimitedLegacy Reserves LP, a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and Legacy Reserves Finance Corporation, a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 6.625% per annum as set forth from May 28, 2013 until maturity and shall pay the Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 1 and December 31 of 1of each year, commencing on June 30December 1, 20162013, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Legacy Reserves Inc.), Indenture (Legacy Reserves Lp)

Interest. Offshore Group Investment LimitedCPM Holdings, Inc., a Cayman Islands exempted company Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at a rate 10⅝% per annum as set forth from ________________, 20__ until maturity and shall pay the Special Interest, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Special Interest, if any, semi-annually in arrears on June 30 March 1 and December 31 September 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20_. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1that is 2% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Intercreditor Agreement (CPM Holdings, Inc.), CPM Holdings, Inc.

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Notes will bear interest at 6.000% per annum (the “CompanyCash Interest Rate”), promises subject to pay interest on the principal amount of this Note at a rate per annum PIK Option as set forth described below, as from the Issue Date until maturitythe principal thereof is paid or made available for payment. The Company Interest (other than PIK Interest as described below) will pay be payable in arrears in Dollars on each Interest Payment Date (as defined below). With respect to all or a portion of interest accrued as of as of the date prior to each Interest Payment Date occurring on or prior to the five (5) year anniversary of the Issue Date (the “PIK Option Period”), the Notes will bear interest, at the sole discretion of the Issuer and without the consent of the Holders (and without regard to any restrictions or limitations set forth under Article 4), at (i) the per annum Cash Interest Rate payable in cash or (ii) subject to the limitations on amounts set forth below, a rate equal to the sum of the Cash Interest Rate plus the applicable premium set forth in the table below per annum payable by increasing the outstanding principal amount of the Notes or, with respect to Certificated Notes, issuing additional notes (“PIK Interest” and such payment of PIK Interest hereinafter referred to as “PIK Payment”). Payment of interest shall occur semi-annually in arrears on June 30 April 5 and December 31 October 5 of each yearyear (together with the date of Maturity, commencing the “Interest Payment Dates” and each, an “Interest Payment Date”). If any Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the required payments of principal, premium, if any, and interest, if any, with respect to the Notes will be made on the next succeeding Business Day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date, as the case may be, to the date of such payment on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing months of the amount of interest proposed to be paid on thirty calendar days each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anyand, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●], 2016 (the “Indenture”) among the Companyan incomplete month, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate number of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturecalendar days elapsed.

Appears in 2 contracts

Samples: oec-ri.odebrecht.com, Supplemental Indenture

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the principal amount of this Note at a rate 8 1/8% per annum as set forth belowfrom March 4, from the Issue Date 2003 until maturity. The Company will pay interest semi-annually in arrears semiannually on June 30 March 1 and December 31 September 1 of each year, commencing on June 30, 2016year (each an "Interest Payment Date"), or if any such day is not a Business Day, on the next succeeding Business Day, to the holder of record at the close of business on February 15 or August 15 immediately preceding such Interest Payment Date. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date on which interest has been paid or, if no interest has been paid, from the date of issuanceMarch 4, 2003; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be September 1, 2003. The Further, the Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate then in effect; it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Notes same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. [The Company will notify Holder of this Note is entitled to the Trustee in writing benefits of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interesta registration rights agreement, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●]March 4, 2016 2003, between the Company and the Initial Purchasers named therein (the “Indenture”"Registration Rights Agreement"). In the event that a Registration Default (as defined in the Registration Rights Agreement) among occurs, liquidated damages ("Liquidated Damages") will accrue on the Companyaffected Transfer Restricted Notes and the affected Private Exchange Notes, as applicable. The rate of Liquidated Damages will be $0.05 per week per $1,000 principal amount of Transfer Restricted Notes and affected Private Exchange Notes held by such Holder for the first 90-day period immediately following the occurrence of a Registration Default, increasing by an additional $0.05 per week per $1,000 principal amount of Transfer Restricted Notes and affected Private Exchange Notes with respect to each subsequent 90-day period thereafter up to a maximum amount of Liquidated Damages for all Registration Defaults of $0.50 per week per $1,000 principal amount of Transfer Restricted Notes and affected Exchange Notes, from and including the date on which any such Registration Default shall occur to, but excluding, the Guarantors, earlier of (1) the Trustee date on which all Registration Defaults have been cured or (2) the date on which all Transfer Restricted Notes and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary Private Exchange Notes otherwise become freely transferrable by Holders other than affiliates of the Issue Date. From and after Company without further registration under the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureSecurities Act.]**

Appears in 2 contracts

Samples: Supplemental Indenture (Northwest Pipeline Corp), Indenture (Williams Companies Inc)

Interest. Offshore Group Investment LimitedCEMEX Finance LLC, a Cayman Islands exempted Delaware limited liability company (together with its successors and assigns, the “CompanyIssuer), ) promises to pay interest on the principal amount of this Note at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company Issuer will pay interest semi-annually semiannually in arrears on June 30 and December 31 each Interest Payment Date of each yearyear commencing June 14, commencing on June 30, 2016, or 2010; provided that if any such day Interest Payment Date is not a Business Day, then such payment shall be made on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid on the Notes or, if no interest has been paid, from the date of issuanceDecember 14, 2009; provided that if there is no existing Default in or Event of Default on the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment DateDate (but after December 14, 2009), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from December 14, 2009. The Company will Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand principal at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify All payments made by the Trustee Issuer in writing respect of the amount Notes will be made free and clear of interest proposed and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Issuer will pay to be paid on each Note and the date Holder of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, Additional Amounts as provided in the same manner as other interest, and on Indenture subject to the same dates as limitations set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Cemex Sab De Cv, Cemex Sab De Cv

Interest. Offshore Group Investment LimitedTarga Resources Partners LP, a Cayman Islands exempted company Delaware limited partnership (the CompanyTarga Resources Partners”), promises and Targa Resources Partners Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with Targa Resources Partners, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate 5.125% per annum as set forth from October 6, 2016 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes this Note will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be February 1, 2017. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, from time to time on demand at the rate then in effect to the extent lawful; and they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any (without regard to any applicable grace periodperiods), from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Conveyance and Assumption Agreement (Targa Resources Corp.), Conveyance and Assumption Agreement (Targa Resources Partners LP)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the principal amount of this Note at a rate 9½% per annum as set forth below, from the Issue Date date hereof until maturity. maturity [and shall pay Additional Interest, if any, as provided in the Registration Rights Agreement, dated January 20, 2011+ referred below].* The Company will shall pay interest [and Additional Interest, if any,] semi-annually in arrears on June 30 February 15th and December 31 August 15th of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Dayyear (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid on the Notes (or one or more Predecessor Notes) or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be [August 15, 2011]:. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal borne by the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest] (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify If an Interest Payment Date is not a Business Day, payment may be made on the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand next succeeding day that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interestis a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 9½% Senior Notes due 2019 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the same dates as set forth Initial Note in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance connection with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureRegistration Rights Agreement.]**

Appears in 2 contracts

Samples: Supplemental Indenture (Laredo Petroleum Holdings, Inc.), Supplemental Indenture (Laredo Petroleum, Inc.)

Interest. Offshore Group Investment LimitedEclipse Resources I, LP, a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises to pay or cause to be paid interest on the principal amount of this Note Security at a the rate of 12.0% per annum as set forth belowin the case of cash interest (“Cash Interest”) and 13.0% per annum in the case of PIK Interest from June 26, from the Issue Date 2013 until maturity. The Company will pay interest interest, if any, semi-annually in arrears on June 30 January 15 and December 31 July 15 of each yearyear (each, commencing on June 30, 2016an “Interest Payment Date”), or if any such day is not a Business Day, on the next succeeding Business Day; provided, that no interest shall accrue for the intervening period. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes Securities will accrue from the most recent Interest Payment Date date to which interest has been paid or duly provided for or, if no interest has been paidpaid or duly provided for, from the date of original issuance; provided that if there is no existing Default in the payment of interestthat, and if this Note Security is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be January 15, 2014. The Company At the Company’s option, for the first two semi-annual interest payments following the Issue Date, interest will pay be payable by increasing the principal amount of the outstanding Global Securities or by issuing PIK Securities (“PIK Interest”). At the Company’s option, for the subsequent four semi-annual interest (including post-petition payments thereafter, interest will be payable in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1form of 6.0% per annum in excess cash and 7.0% per annum in PIK Interest. Thereafter, interest can only be paid as Cash Interest. In the absence of an interest payment election made by the Company as set forth above, interest on the Securities shall be payable as Cash Interest only. Notwithstanding anything to the contrary, the payment of accrued interest in connection with any redemption or purchase of the then Securities, as described in Sections 3.05, 4.07, 4.09 and 4.18 of the Indenture shall be made solely as Cash Interest only. At all times, PIK Interest on the Securities will be payable (x) with respect to Securities represented by one or more Global Securities registered in the name of, or held by, The Depository Trust Company (“DTC”) or its nominee on the relevant record date, by increasing the principal amount of the outstanding Global Security by an amount equal to the amount of PIK Interest payable for the applicable interest rate period (rounded down to the nearest whole dollar) as provided in an Authentication Order from the Company to the Trustee and (y) with respect to Securities represented by Definitive Securities, by issuing PIK Securities in certificated form in an aggregate principal amount equal to the amount of PIK Interest for the applicable interest period (rounded down to the nearest whole dollar), and the Trustee will, at the request of the Company, authenticate and deliver such PIK Securities for original issuance to the Holders on the Notes relevant record date, as shown by the records of the register of Holders. Following an increase in the principal amount of the outstanding Global Securities as a result of a PIK Payment, the Securities will bear interest on such increased principal amount from and after the date of such PIK Payment. Any PIK Securities will be dated as of the applicable Interest Payment Date and will bear interest from and after such date. All Securities issued pursuant to a PIK Payment will mature on July 15, 2018 and will be governed by, and subject to the extent lawfulterms, provisions and conditions of, the Indenture and shall have the same rights and benefits as the Securities issued on the Issue Date. Any PIK Securities will be issued with the description “PIK” on the face of such PIK Security. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Eclipse Resources Corp), Indenture (Eclipse Resources Corp)

Interest. Offshore Group Investment LimitedInnophos, Inc., a Cayman Islands exempted company Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at a rate 8.875% per annum as set forth from , 20 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 August 15 and December 31 February 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , 20 . The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Indenture (Innophos, Inc.), Indenture (Innophos Investment Holdings, Inc.)

Interest. Offshore Group Investment LimitedVideotron Ltd., a Cayman Islands exempted company corporation under the laws of Québec (the “Company”), promises to pay interest (as defined in the Indenture) on the principal amount of this Note at a rate 4.50% per annum as set forth below, from the Issue Date until maturity. The Company will shall pay interest semi-annually in arrears in equal installments (except as noted below) on June 30 April 15 and December 31 October 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be April 15, 2020. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the then applicable interest rate then in effect under the Indenture and this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the Notes same rate to the extent lawful. Interest In the case of (i) the first interest period (from October 8, 2019 to April 15, 2020), interest will be computed calculated on the basis of the actual number of days elapsed from October 8, 2019 to (but excluding) April 15, 2020 divided by 365, and (ii) the final interest period, if applicable (from October 15, 2029 to January 15, 2030), interest will be calculated on the basis of the actual number of days elapsed from October 15, 2029 to (but excluding) January 15, 2030 divided by 365. In the case of any other interest period that is shorter than a full semi-annual interest period due to redemption, interest will be calculated on the basis of a 360365-day year comprised and the actual number of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note days elapsed from (and including) the date of the proposed paymentprevious interest payment to (but excluding) the interest payment date for such interest period. All references to “interest” shall mean For the initial purposes of the Interest Act (Canada), whenever interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and is computed on the same dates as set forth in the Notes and in the Indenture dated as a basis of [●], 2016 a year (the “Indenturedeemed year”) among which contains fewer days than the Companyactual number of days in the calendar year of calculation, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the such rate of 1% per annum prior to the fourth anniversary interest shall be expressed as a yearly rate for purposes of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the Interest Act (Canada) by multiplying such rate of 12% per annum. All interest payments (other than at by the Maturity Date, or as provided actual number of days in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares the calendar year of calculation and dividing it by the number of days in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturedeemed year.

Appears in 2 contracts

Samples: Subordination Agreement (Quebecor Media Inc), Subordination Agreement (Videotron Ltee)

Interest. Offshore Group Investment LimitedArcelorMittal, a Cayman Islands exempted company (the “Company”), promises to société anonyme organized under Luxembourg law will pay interest on the principal amount of this Note the US $1,000,000,000 Securities at a rate 6.75% per annum as set forth from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below, from the Issue Date until maturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on June 30 March 1 and December 31 September 1 of each year, year (each an Interest Payment Date) commencing on June 30September 1, 20162011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or if any such day the maturity date in respect of the Securities is not a Business DayDay in the Place of Payment, we will pay interest or principal, as the case may be, on the next succeeding Business Day. Except Payments postponed to the next Business Day in this situation will be treated under this Indenture as otherwise provided if they were made on the original due date. Postponement of this kind will not result in Sections 2.11 and 2.14 of a default under the Securities or this Indenture, and no interest will accrue on the Notes postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the most recent Interest Payment Closing Date or, if no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of issuance; provided that if there is no existing Default in the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of interestprincipal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, and if this Note is authenticated between a Record Date referred in which case interest will continue to accrue on the face hereof and Securities at the next succeeding Interest Payment Daterates set forth above, interest shall accrue from as the case may be, until the earlier of (a) the day on which all sums due in respect of such next succeeding Interest Payment Date. The Company will pay interest Securities up to that day are received by the relevant Holder or (including post-petition interest b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess respect of the then applicable interest rate on the Notes such Securities up to that seventh day, except to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If that there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, is failure in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior subsequent payment to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturerelevant Holders following such notification.

Appears in 2 contracts

Samples: ArcelorMittal, ArcelorMittal

Interest. Offshore Group Investment LimitedHTCC Holdco I B.V., a Cayman Islands exempted private limited liability company incorporated under the laws of the Netherlands Antilles (such company and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), for value received promises to pay interest on the principal amount of this Note from October 30, 2006. Each Note will bear interest at a rate per annum (the “Applicable Rate”), reset quarterly, equal to EURIBOR, in each case, plus 8.250% as set forth belowdetermined by the calculation agent (the “Calculation Agent”), from which will initially be the Issue Date until maturityTrustee, plus the Ratchet Margin (if any). The Company Interest on the Notes will pay be payable (at the election of the Issuer made prior to the relevant record date in the case of cash interest) either in cash or through the issuance of Additional Notes in a principal amount equal to such interest semi-annually amount (in increments of €1) quarterly in arrears on June 30 January 15, April 15, July 15, and December 31 of each yearOctober 15, commencing on June 30January 15, 2016, or if any such day is not a Business Day, 2007. The Issuer will make each interest payment to the Holders of record of the Notes on the next succeeding Business Dayimmediately preceding January 1, April 1, July 1 and October 1. Except as otherwise provided in Sections 2.11 and 2.14 of The Additional Notes will be identical to the Indentureoriginally issued Notes, except that interest will begin to accrue from the date they are issued rather than the Issue Date. Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From The Calculation Agent will, as soon as practicable after 11:00 a.m. (London time) on each Determination Date, determine the Applicable Rate, and after calculate the fourth anniversary aggregate amount of interest payable on the Notes in respect of the Issue Datefollowing Interest Period (the “Interest Amount”). The Interest Amount will be calculated by applying the Applicable Rate to the principal amount of each Note outstanding at the commencement of the Interest Period, multiplying each such amount by the actual number of days in the Interest Period concerned divided by 360. All percentages resulting from any of the above calculations will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a percentage point being rounded upwards (e.g. 4.876545% (or .04876545) being rounded to 4.87655% (or .0487655)). All euro amounts used in or resulting from such calculations will be rounded to the nearest euro cent (with one-half euro cent being rounded upwards). The determination of the Applicable Rate and the Interest Rate Amount by the Calculation Agent shall, in the absence of willful default, bad faith or manifest error, be binding on all parties. The Applicable Rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. The Calculation Agent shall be under no obligation to monitor whether the Applicable Rate exceeds such maximum rate. The Calculation Agent will, upon the written request of the Holder of any Note, provide the interest rate then in effect with respect to the Notes. The rights of holders of beneficial interests in the Notes to receive the payments of interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 applicable procedures of the Indenturebook-entry depositary and Euroclear and Clearstream. “Determination Date,” with respect to an Interest Period relating to EURIBOR, will be the day that is two TARGET Settlement Days preceding the first day of such Interest Period.

Appears in 2 contracts

Samples: Invitel Holdings a/S, Invitel Holdings a/S

Interest. Offshore Group Investment LimitedVideotron Ltd., a Cayman Islands exempted company corporation under the laws of Québec (the “Company”), promises to pay interest (as defined in the Indenture) on the principal amount of this Note at a rate 5.75% per annum as set forth below, from the Issue Date until maturity. The Company will shall pay interest semi-annually in arrears in equal installments (except as noted below) on June 30 March 15 and December 31 September 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be March 15, 2016. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the then applicable interest rate then in effect under the Indenture and this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the Notes same rate to the extent lawful. Interest In the case of the final interest period, if applicable (from September 15, 2025 to January 15, 2026), interest will be computed calculated on the basis of the actual number of days elapsed from September 15, 2025 to (but excluding) January 15, 2026 divided by 365. In the case of any other interest period that is shorter than a full semi-annual interest period due to redemption, interest will be calculated on the basis of a 360365-day year comprised and the actual number of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note days elapsed from (and including) the date of the proposed paymentprevious interest payment to (but excluding) the interest payment date for such interest period. All references to “interest” shall mean For the initial purposes of the Interest Act (Canada), whenever interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and is computed on the same dates as set forth in the Notes and in the Indenture dated as a basis of [●], 2016 a year (the “Indenturedeemed year”) among which contains fewer days than the Companyactual number of days in the calendar year of calculation, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the such rate of 1% per annum prior to the fourth anniversary interest shall be expressed as a yearly rate for purposes of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the Interest Act (Canada) by multiplying such rate of 12% per annum. All interest payments (other than at by the Maturity Date, or as provided actual number of days in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares the calendar year of calculation and dividing it by the number of days in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturedeemed year.

Appears in 2 contracts

Samples: Subordination Agreement (Quebecor Media Inc), Subordination Agreement (Videotron Ltee)

Interest. Offshore Group Investment LimitedCentral European Media Enterprises Ltd., a Cayman Islands exempted company organized under the laws of Bermuda (the “CompanyIssuer”), promises to pay interest on the principal amount of this Note (as defined herein) at a the rate of 15.0% per annum as set forth below, from the Issue Date until maturityannum. The Company Interest on this Note will pay interest be payable semi-annually in arrears on June 30 1 and December 31 of each year, commencing on June 30, 20161, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “interest payment date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes this Note will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from and including the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Issue Date. The Company will Issuer promises to pay such interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes on any interest payment date entirely by (i) paying cash (“Cash Interest”) on such interest payment date or (ii) increasing the principal amount of the outstanding Notes (“PIK Interest”) on such interest payment date. With respect to the extent lawful. Interest will be computed interest on the basis of Notes for a 360semi-day year comprised of twelve 30-day months. The Company will notify annual period due on an interest payment date, the Trustee in writing of the amount of Issuer may elect, at its option, to pay interest proposed to be paid due on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, on such interest payment date (i) entirely in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Cash Interest on this Note will accrue at the rate of 115.0% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue (“Cash Interest Payment”) or (ii) entirely in PIK Interest at the rate of 1215.0% per annumannum (“PIK Interest Payment”). All In order to elect to pay Cash Interest on any interest payments payment date, the Issuer must deliver a written notice of its election to the Trustee no later than 10 days prior to such interest payment date (other than at the Maturity Date, “Cash Election Deadline”) specifying that it is electing a Cash Interest Payment (and if the Issuer does not deliver such notice on or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity DateCash Election Deadline, the final interest payment on the Maturity Date then a PIK Interest Payment shall be made on such interest payment date). Notwithstanding the foregoing, the Issuer shall be deemed to have elected to make a PIK Interest Payment with respect to the entire principal amount of the Notes for all interest payment dates occurring prior to November 15, 2015. PIK Interest on the Notes will be payable in cashthe manner set forth in Section 2.17 of the Indenture. All Following an increase in the principal amount of the outstanding Global Notes as a result of the payment of PIK Interest, the Global Notes will bear interest accruals on such increased principal amount from and after the date of such payment. The Issuer shall pay interest payments on overdue principal and on overdue installments of interest and on any Additional Amounts as specified in the Indenture. Any interest paid on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture increased to the contrary, and are subject extent necessary to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturepay Additional Amounts as set forth herein.

Appears in 2 contracts

Samples: Indenture (CME Media Enterprises B.V.), Central European Media Enterprises LTD

Interest. Offshore Group Investment LimitedCEMEX Finance LLC, a Cayman Islands exempted Delaware limited liability company (together with its successors and assigns, the “CompanyIssuer”), promises to pay interest on the principal amount of this Note at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company Issuer will pay interest semi-annually semiannually in arrears on June 30 and December 31 each Interest Payment Date of each yearyear commencing October 1, commencing on June 302014; provided, 2016, or that if any such day Interest Payment Date is not a Business Day, then such payment shall be made on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid on the Notes or, if no interest has been paid, from the date of issuanceApril 1, 2014; provided provided, that if there is no existing Default in or Event of Default on the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment DateDate (but after April 1, 2014), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from April 1, 2014. The Company will Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand principal at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Each interest period shall end on (but not include) the Trustee relevant interest payment date. All payments made by the Issuer in writing respect of the amount Notes will be made free and clear of interest proposed and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Jurisdiction, unless such withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Issuer will pay to be paid on each Note and the date Holder of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, Additional Amounts as provided in the same manner as other interest, and on Indenture subject to the same dates as limitations set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Notes will bear interest at 7.125% per annum (the “CompanyCash Interest Rate”), promises subject to pay interest on the principal amount of this Note at a rate per annum PIK Option as set forth described below, as from the Issue Date until maturitythe principal thereof is paid or made available for payment. The Company Interest (other than PIK Interest as described below) will pay be payable in arrears in Dollars on each Interest Payment Date (as defined below). With respect to all or a portion of interest accrued as of as of the date prior to each Interest Payment Date occurring on or prior to the five (5) year anniversary of the Issue Date (the “PIK Option Period”), the Notes will bear interest, at the sole discretion of the Issuer and without the consent of the Holders (and without regard to any restrictions or limitations set forth under Article 4), at (i) the per annum Cash Interest Rate payable in cash or (ii) subject to the limitations on amounts set forth below, a rate equal to the sum of the Cash Interest Rate plus the applicable premium set forth in the table below per annum payable by increasing the outstanding principal amount of the Notes or, with respect to Certificated Notes, issuing additional notes (“PIK Interest” and such payment of PIK Interest hereinafter referred to as “PIK Payment”). Payment of interest shall occur semi-annually in arrears on June 30 26 and December 31 26 of each yearyear (together with the date of Maturity, commencing the “Interest Payment Dates” and each, an “Interest Payment Date”). If any Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the required payments of principal, premium, if any, and interest, if any, with respect to the Notes will be made on the next succeeding Business Day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date, as the case may be, to the date of such payment on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing months of the amount of interest proposed to be paid on thirty calendar days each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anyand, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●], 2016 (the “Indenture”) among the Companyan incomplete month, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate number of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturecalendar days elapsed.

Appears in 2 contracts

Samples: oec-ri.odebrecht.com, Supplemental Indenture

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the unpaid principal amount of this Note at a rate of five percent (5%) per annum as set forth below, from (the Issue Date until maturity"Interest Rate") commencing on the date hereof. The Company will pay interest semi-annually in arrears on June 30 and December 31 of each yearAugust 15, commencing on June 30, 2016, 2002 or if any such day is not a Business Day, on the next succeeding Business DayDay (the "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided provided, however, that if there is no -------- ------- existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Interest shall accrue with respect to principal on this Note to, but not including the date of repayment of such principal; provided, however, -------- ------- that if payment to the Paying Agent occurs after 10:00 a.m., New York City time, interest shall be deemed to accrue until the following Business Day. On each Interest Payment Date, interest on the Notes will be paid for the immediately preceding accrual period. Any accrued and unpaid interest outstanding on the Maturity Date shall be paid on the Maturity Date concurrently with payment of the Principal. To the extent lawful, the Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on (i) overdue principal, premium (including the Applicable Premium)Principal, if any, at a rate equal to the sum of the Interest Rate and interest an additional two percent (2%) per annum (such sum being referred to herein as the "Default Rate"), compounded semiannually; and (ii) overdue installments of interest, if any (without regard to any applicable grace period)) at the Default Rate, from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulcompounded semiannually. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 2 contracts

Samples: Indenture (Cellstar Corp), Indenture (Cellstar Corp)

Interest. Offshore Group Investment LimitedCompressco Partners, L.P., a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and Compressco Finance Inc., a Delaware corporation (together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 7.25% per annum as set forth until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , . The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes Notes; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 2 contracts

Samples: Indenture (Tetra Technologies Inc), Indenture (Compressco Partners, L.P.)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Notes will bear interest at 7.000% per annum (the “CompanyCash Interest Rate”), promises subject to pay interest on the principal amount of this Note at a rate per annum PIK Option as set forth described below, as from the Issue Date until maturitythe principal thereof is paid or made available for payment. The Company Interest (other than PIK Interest as described below) will pay be payable in arrears in Dollars on each Interest Payment Date (as defined below). With respect to all or a portion of interest accrued as of as of the date prior to each Interest Payment Date occurring on or prior to the five (5) year anniversary of the Issue Date (the “PIK Option Period”), the Notes will bear interest, at the sole discretion of the Issuer and without the consent of the Holders (and without regard to any restrictions or limitations set forth under Article 4), at (i) the per annum Cash Interest Rate payable in cash or (ii) subject to the limitations on amounts set forth below, a rate equal to the sum of the Cash Interest Rate plus the applicable premium set forth in the table below per annum payable by increasing the outstanding principal amount of the Notes or, with respect to Certificated Notes, issuing additional notes (“PIK Interest” and such payment of PIK Interest hereinafter referred to as “PIK Payment”). Payment of interest shall occur semi-annually in arrears on June 30 April 21 and December 31 October 21 of each yearyear (together with the date of Maturity, commencing the “Interest Payment Dates” and each, an “Interest Payment Date”). If any Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the required payments of principal, premium, if any, and interest, if any, with respect to the Notes will be made on the next succeeding Business Day as if made on the date such payment was due, and no interest will accrue on such payment for the period from and after such Interest Payment Date, as the case may be, to the date of such payment on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing months of the amount of interest proposed to be paid on thirty calendar days each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if anyand, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●], 2016 (the “Indenture”) among the Companyan incomplete month, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate number of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturecalendar days elapsed.

Appears in 2 contracts

Samples: oec-ri.odebrecht.com, Supplemental Indenture

Interest. Offshore Group Investment LimitedSRI Receivables Purchase Co., Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest inter est on the principal amount of this Note at 12.5% per annum from the date this Note is issued until the earlier of the date on which principal is paid in full and January 15, 2003. Interest on this Note will accrue at a rate of 12.5% per annum as set forth below, from the Issue Date until maturity. The Company and will pay interest be payable semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30including the Expected Maturity Date (or, 2016, or if any such day is not a Business Day, the first Business Day thereafter) (each a "Semi-Annual Interest Payment Date"), commencing December 16, 1996, except that, on and after the occurrence of an Event of Default, or on any day following the Expected Maturity Date, interest will be payable on the 15th day (or, if such day is not a busi ness day, then the first business day thereafter) of each month (each a "Monthly Payment Date" and together with each Semi-Annual Interest Payment Date, a "Payment Date"). Interest will accrue from each Payment Date to the day preceding the next succeeding Business DayPayment Date. Except as otherwise provided in Sections 2.11 and 2.14 In the case of any Event of Default occurring by reason of any willful action (or inaction) taken (or not taken) by or on behalf of the Company with the intention of avoiding payment of the premium that the Company would have had to pay if the Compa ny then had elected to redeem the Notes pursuant to Section 5.1 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, an equivalent premium shall also become and if this Note is authenticated between a Record Date referred to on the face hereof be immediately due and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes payable to the extent lawfulpermitted by law, anything in the Indenture or in this Note to the contrary notwithstanding. If an Event of Default occurs prior to August 15, 1997 by reason of any willful action (or inaction) taken (or not taken) by or on behalf of the Company with the intention of avoiding the prohibition on redemption of this Note prior to such date, then the premium payable for purposes of this paragraph shall be as specified pursuant to Section 5.1 of the Indenture for the twelve-month period beginning December 15, 1997. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Sri Receivables Purchase Co)

Interest. Offshore Group Investment LimitedWeWork Companies LLC, a Cayman Islands exempted Delaware limited liability company (the “Company”), promises to pay interest on the principal amount of this Second Lien Exchangeable Note at a 11.000% per annum, which interest shall be payable partially in cash at the rate of 5.000% per annum as set forth below(“Cash Interest”), from and partially in the Issue Date form of increased principal amount of the applicable Second Lien Exchangeable Notes (“PIK Interest”) at the rate of 6.000% per annum, until but excluding maturity. The Company will shall pay interest semi-annually in arrears on June 30 April 1 and December 31 October 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Second Lien Exchangeable Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from and including the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding first Interest Payment DateDate shall be October 1, interest shall accrue from such next succeeding Interest Payment Date2023. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and from time to time on demand at the interest rate on the Second Lien Exchangeable Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), periods) from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Second Lien Exchangeable Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify With respect to the Trustee in writing payment of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default PIK Interest, the Company shall pay Default Interest, if any, in may elect to either increase by adding PIK Interest to the aggregate principal amount of an outstanding Global Note or issue PIK Notes under the Second Lien Exchangeable Notes Indenture having the same manner terms as other interest, and the Second Lien Exchangeable Notes issued on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior subject to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified terms set forth herein as further set forth in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Second Lien Exchangeable Notes Indenture. The Issuers will pay cash interest on overdue installments of principal and interest at 2.000% per annum in excess of the Cash Interest rate.

Appears in 1 contract

Samples: WeWork Inc.

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the principal amount of this 10-Year Dollar Note at a rate 10 3/4% per annum as set forth and shall pay the Liquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will shall pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the 10-Year Dollar Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuanceFebruary 18, 2000(3); provided that if there is no existing Default in the payment of interest, and if this 10-Year Dollar Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that if the Exchange Offer is consummated [FOR INITIAL NOTES ONLY:] [and Exchange Notes are issued in exchange for this 10-Year Dollar Note in connection therewith, any accrued and unpaid interest on this 10-Year Dollar Note shall be deemed to have accrued with respect to, and shall be paid with respect to, such Exchange Notes] [FOR EXCHANGE NOTES ONLY:] [and this 10-Year Dollar Note is issued in exchange for Initial Notes in connection therewith, interest will accrue on this 10-Year Dollar Note from the last day on which interest was paid on such Initial Notes prior to the issuance of this 10-Year Dollar Note or, if no such interest has been paid, from February 18, 2000(3)]; provided, further, that the first Interest Payment Date shall be August 15, 2000(3). The Company will shall pay interest (including post- petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate of 10 3/4% per annum. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, installments of interest and interest Liquidated Damages (without regard to any applicable grace period), periods) from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Azurix Corp)

Interest. Offshore Group Investment LimitedTesoro Petroleum Corporation, a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 9% per annum as set forth belowannum, from July 2, 1998 until maturity and shall pay the Issue Date until maturityLiquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 January 1 and December 31 July 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from date of authentication; provided, further, that the first Interest Payment Date shall be January 1, 1999. The Company will shall pay interest (including postpetition interest in any proceeding under the Bankruptcy Code) on overdue principal and premium, if any, from time to time on demand at the rate borne on the Notes; it shall pay interest (including post-petition interest in any proceeding under any the Bankruptcy LawCode) on overdue principal, premium (including the Applicable Premium)installments of interest and Liquidated Damages, if any, and interest (without regard to any applicable grace period), periods) from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Victory Finance Inc

Interest. Offshore Group Investment LimitedThe Resort at Summxxxxx, Xxmited Partnership, a Cayman Islands exempted company Nevada limited partnership, and The Resort at Summxxxxx, Xxc., a Nevada corporation (the “Company”"Issuers"), promises jointly and severally, promise to pay interest on the principal amount of this Note at a the rate and in the manner specified below. The Issuers shall pay, in cash, interest on the principal amount of this Note at the rate per annum as set forth belowof 13%; provided, from however, that through and including June 15, 1999, on each Interest Payment Date, the Issue Date until maturityIssuers may, at their option and in their sole discretion, in lieu of the payment in whole or in part of interest due on this Note, pay interest on this Note through the issuance of additional Notes in an aggregate principal amount equal to the amount of interest that would be payable with respect to this Note, if such interest were paid in cash. After June 15, 1999, the Issuers shall pay interest on this Note in cash. The Company Issuers shall notify the Trustee in writing of their election to pay interest on this Note through the issuance of additional Notes not less than 10 nor more than 45 days prior to the record date for the Interest Payment Date on which additional Notes will be issued. Additional Notes shall be governed by, and entitled to the benefits of, the Indenture and shall be subject to the terms of the Indenture and shall be subject to the same terms (including the rate of interest from time to time payable thereon) as this Note (except, as the case may be, with respect to the issuance date and aggregate principal amount). The Issuers will pay interest semi-annually semiannually in arrears on June 30 15 and December 31 15 of each yearyear (each an "Interest Payment Date"), commencing on June 3015, 20161998, or if any such day is not a Business Day, Day on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify Interest shall accrue from the Trustee in writing of the amount of most recent Interest Payment Date to which interest proposed to be has been paid on each Note and or, if no interest has been paid, from the date of the proposed paymentoriginal issuance of the Notes. All references to “interest” shall mean To the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interestextent lawful, the Company Issuers shall pay Default Interest, if any, in the same manner as other interest, and interest on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue overdue principal at the rate of 12% per annum prior in excess of the then applicable interest rate on the Notes; it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) at the same rate to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureextent lawful.

Appears in 1 contract

Samples: Resort at Summerlin Inc

Interest. Offshore Group Investment LimitedWynn Las Vegas, LLC, a Cayman Islands exempted Nevada limited liability company (“Wxxx Las Vegas”) and Wxxx Las Vegas Capital Corp., a Nevada corporation (“Wynn Capital,” and together with Wxxx Las Vegas, the “CompanyIssuers”), promises as joint and several obligors, promise to pay interest on the principal amount of this Note at a rate 7¾% per annum as set forth from August 4, 2010 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will Issuers shall pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be February 15, 2011. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Indenture (Wynn Resorts LTD)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay The Securities shall bear interest on the principal amount of this Note thereof at a rate of 2.875% per annum as set forth below, from the Issue Date until maturityyear. The Company will pay interest semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will Interest shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment original issuance of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment DateSecurities. The Company will shall also pay interest (including post-petition interest Liquidated Damages as set forth in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess Section 4.07 of the then applicable interest rate Indenture and Section 3 of the Registration Rights Agreement. Interest will be payable semi-annually on each Interest Payment Date to Holders at the close of business on the Notes to the extent lawfulpreceding Interest Record Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company If any Interest Payment Date of a security falls on a day that is not a Business Day, such payment date will notify be postponed to the Trustee next succeeding Business Day without any Interest or other payment in writing respect of the delay. If this Security is redeemed or repurchased by the Company on a date that is after the Interest Record Date and prior to the corresponding Interest Payment Date, Interest and Liquidated Damages accrued and unpaid hereon to but not including the Redemption Date, the Repurchase Date or the Designated Event Repurchase Date, as the case may be, shall be paid to the Holder of record on the corresponding Interest Record Date. If the principal amount of interest proposed to be paid on each Note any Security, or any accrued and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interestunpaid Interest or Liquidated Damages, if any, are not paid when due (whether (a) upon acceleration pursuant to Section 6.02 of the Indenture, (b) upon the date set for payment of the Redemption Price pursuant to Section 4 hereof, (c) upon the date set for payment of the Repurchase Price or Designated Event Repurchase Price pursuant to Section 5 hereof, (d) upon the Stated Maturity of the Securities, (e) upon the Interest Payment Dates or (f) upon the Liquidated Damages Payment Dates as defined in the same manner as other interestRegistration Rights Agreement), and on then in each such case the same dates as set forth in overdue amount shall, to the Notes and in the Indenture dated as of [●]extent permitted by law, 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue bear cash interest at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 122.875% per annum, compounded semiannually, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest payments (other than at the Maturity Date, or as provided shall be payable in this Note) will cash on demand but if not so demanded shall be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior paid quarterly to the Maturity Date, the final interest payment Holders on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 last day of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureeach quarter.

Appears in 1 contract

Samples: Indenture (Omi Corp/M I)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises The Issuers promise to pay interest on the principal amount of this Note at a an annual rate per annum of 2.000% (the “Initial Interest Rate”), subject to adjustment as set forth described in the paragraph immediately below, from the Issue Date until maturity. The Company Issuers will pay interest semi-annually in arrears on June 30 March 16 and December 31 September 16 of each yearyear (each such day, commencing on June 30an “Interest Payment Date”). If any Interest Payment Date, 2016, redemption date or if any such day maturity date of this Note is not a Business Day, then payment of principal, premium, if any, or interest shall be made on the next succeeding Business Day with the same force and effect as if made on the nominal date such payment was due, and no interest shall accrue for the period after such nominal date to the date of such payment on the next Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date ordate to which interest has been paid or duly provided for (or September 16, 2021, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding ). Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed calculated on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify From and including March 16, 2026 (or if such day is not a Business Day, the next succeeding Business Day) (the “Interest Rate Step Up Date”), the interest rate payable on the Notes shall be increased from the Initial Interest Rate by, in aggregate, (i) an additional 12.5 basis points per annum unless the Issuers have notified the Trustee in writing of the amount of interest proposed to be paid on each Note and or before the date of that is 15 days prior to the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 Interest Rate Step Up Date (the “IndentureNotification Date”) among in the Company, form of an Officer’s Certificate (the Guarantors, “Scope 1 and Scope 2 Emissions Satisfaction Notification”) certifying that such officers have determined that the Issuers have satisfied the Scope 1 and Scope 2 Emissions Sustainability Performance Target and received a related assurance letter from the External Verifier (an “Assurance Letter”) and (ii) an additional 12.5 basis points per annum unless the Issuers have notified the Trustee in writing on or before the Notification Date in the form of an Officer’s Certificate (the “Scope 3 Emissions Satisfaction Notification”) certifying that such officers have determined that the Issuers have satisfied the Scope 3 Emissions Sustainability Performance Target and received a related Assurance Letter from the Noteholder Collateral AgentExternal Verifier. Interest For the avoidance of doubt, if the Issuers have provided the Trustee with the applicable Satisfaction Notification for each of the two Sustainability Performance Targets on this Note will accrue at the rate of 1% per annum or prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Notification Date, then the interest rate payable on the Notes shall not increase from the Initial Interest Rate pursuant to this Note paragraph. The interest rate applicable to the Notes will accrue at only be adjusted on the rate Notification Date based upon the satisfaction or non-satisfaction of 12% per annum. All interest payments (other than at the Maturity Date, a Sustainability Performance Target on or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Notification Date. Any satisfaction of a Sustainability Performance Target subsequent to the Notification Date or cessation of satisfaction, or any failure to satisfy a Sustainability Performance Target subsequent to the final Notification Date will not result in an adjustment to the interest payment rate payable on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureNotes.

Appears in 1 contract

Samples: Seventh Supplemental Indenture (Johnson Controls International PLC)

Interest. Offshore Group Investment LimitedGlobal Partners LP, a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and GLP Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 7.00% per annum as set forth until maturity and shall pay the Additional Interest payable pursuant to Section 2 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30February 1, 20162020, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from [the date of issuance; issuance];(2) provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal that is the rate then in effect, to 1% per annum the extent lawful; they shall pay interest (including post-petition interest in excess any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace periods) from time to time on demand at the then applicable interest rate on the Notes same rate, to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Global Partners Lp)

Interest. Offshore Group Investment LimitedTarga Resources Partners LP, a Cayman Islands exempted company Delaware limited partnership (the CompanyTarga Resources Partners”), promises and Targa Resources Partners Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with Targa Resources Partners, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate 4.125% per annum as set forth from October 28, 2014 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 May 15 and December 31 November 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be May 15, 2015. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, from time to time on demand at the rate then in effect to the extent lawful; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and interest Liquidated Damages, if any (without regard to any applicable grace periodperiods), from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Conveyance and Assumption Agreement (Targa Resources Partners LP)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay The Securities shall bear interest on the principal amount of this Note thereof at a rate of 6.80% per annum year. The Company shall also pay Liquidated Damages as set forth below, from in the Issue Date until maturityRegistration Rights Agreement. The Company Interest will pay interest be payable semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from to Holders at the date close of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to business on the face hereof and the next succeeding preceding Interest Payment Record Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-30 day months. The Company will notify pay Interest to a person other than the Trustee in writing Securityholder of record on the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that Interest Record Date if the Company pay Default Interestelects to redeem, or Securityholders elect to require the Company to repurchase, the Securities on a date that is after a Interest Record Date but on or prior to the corresponding Interest Payment Date. In that instance, the Company shall will pay Default Interestaccrued and unpaid Interest on the Securities being redeemed or purchased to, but not including, the Redemption Date or the Change of Control Purchase Date, as the case may be, to the same person to whom it will pay the principal of those Securities. If the principal amount of any Security, or any accrued and unpaid Interest or Liquidated Damages, if any, are not paid when due (whether upon acceleration pursuant to Section 6.02 of the Indenture, upon the date set for payment of the Redemption Price pursuant to Section 3.01 of the Indenture and Section 5 hereof, upon the date set for payment of the Change in Control Purchase Price pursuant to Section 3.08 of the Indenture and Section 6 hereof, upon the Stated Maturity of the Securities, upon the Interest Payment Dates or upon the Liquidated Damages Payment Dates (as defined in the same manner as other interestRegistration Rights Agreement), and on then in each such case the same dates as set forth in overdue amount shall, to the Notes and in the Indenture dated as of [●]extent permitted by law, 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue bear cash interest at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 126.80% per annum, compounded semiannually, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest payments (other than at the Maturity shall be payable in cash on each Interest Payment Date, or as provided in this Note) will be made as PIK Interest; providedor, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Dateif earlier, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturedate such overdue amount is paid.

Appears in 1 contract

Samples: Maxtor Corp

Interest. Offshore Group Investment Riverside Forest Products Limited, a Cayman Islands exempted company British Columbia, corporation (the “Company”"COMPANY"), promises to pay interest on the principal amount of this Note at a rate ___% per annum as set forth from ________________, 20__ until maturity and shall pay the Special Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Special Interest, if any, semi-annually in arrears on June 30 March 1 and December 31 September 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "INTEREST PAYMENT DATE"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided PROVIDED that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; PROVIDED FURTHER that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then applicable interest rate in effect on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Riverside Forest Products Marketing LTD)

Interest. Offshore Group Investment LimitedSpectraSite Holdings, Inc., a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the “Company”Indenture hereinafter referred to, being herein called the "Issuer"), promises to pay interest on the principal amount of this Note at a the rate per annum shown above; provided, however, that if a Registration Default (as set forth belowdefined in the Registration Rights Agreement) occurs, additional cash interest will accrue on this Note at a rate of 0.50% per annum from and including the Issue Date until maturity. The Company will pay interest semi-annually in arrears date on June 30 and December 31 of each year, commencing on June 30, 2016, or if which any such day is not a Business DayRegistration Default shall occur to but excluding the date on which all Registration Defaults have been cured, calculated on the next succeeding Business Day. Except Accreted Value of this Note as otherwise provided in Sections 2.11 and 2.14 of the Indenturedate on which such interest is payable; provided, however, that in no event shall the aggregate amount of such additional interest on the Notes will accrue from the most recent Interest Payment Date or, if no exceed 0.50% per annum. Such interest has been paid, from the date of issuance; provided that if there is no existing Default payable in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard addition to any applicable grace period), other interest payable from time to time on demand with respect to this Note. The Trustee will not be deemed to have notice of a Registration Default until it shall have received actual notice of such Registration Default. Until March 15,2005, the Notes will accrete at a rate equal of 12[]% per annum and be compounded semi-annually on each March 15 and September 15 with respect to the Notes, but, except as described herein, will not be payable in cash. Interest on the Accreted Value of each Note as of March 15, 2005 will accrue at the same rate but will be paid semi-annually commencing September 15, 2005, to Holders of record at the close of business on the March 1 or September 1 immediately preceding the interest payment date of March 15 and September 15 of each year. The Issuer shall pay interest on overdue principal at 1% per annum in excess of the then applicable interest rate on borne by the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Spectrasite Holdings Inc

Interest. Offshore Group Investment LimitedVitamin Shoppe Industries Inc., a Cayman Islands exempted company New York corporation (the “Company”), promises to pay interest on the principal amount of this Note at a rate equal to the Applicable Eurodollar Rate (as defined in the Indenture) in effect from time to time per annum as set forth from ________, 200_ until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 6 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest semi-annually and Liquidated Damages, if any, quarterly in arrears on June 30 February 15, May 15, August 15 and December 31 November 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Indenture (Vs Direct Inc.)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company Venture Holdings Trust (the “Company”"Trust"), promises to pay interest on the principal amount of this Note at a rate 11% per annum as set forth from December 1, 1999 until maturity and shall pay the Liquidated Damages payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Trust will pay interest and Liquidated Damages semi-annually in arrears on June 30 1 and December 31 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest ------------------------- (3) To be included only on Restricted Global Notes or Restricted Definitive Notes. A-3 110 Payment Date; provided, further, that the first Interest Payment Date shall be December 1, 1999. The Company will Trust shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Experience Management LLC

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay interest on the The Loans principal amount of this Note at a owed accrues an interest rate per annum as set forth below, from the Issue Date until maturity. The Company will pay interest semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, computed from the date hereof to the date of issuancefull and effective payment of the Loans principal based on the 180-day TAB rate plus the following annual margin: if DEBTOR’s Local Rating is “BBB” or less, the applicable margin will be three annual percent points; if DEBTOR’s Local Rating is “BBB+”, the applicable margin will be two point five annual percent points; if DEBTOR’s Local Rating is “A-”, the applicable margin will be two point twenty-five annual percent points; and if DEBTOR’s Local Rating is “A” or more, the applicable margin will be two annual percent points; thereafter, the annual margin will be referred to as the “Applicable Margin", and the TAB Rate plus the Applicable Margin will be referred to as the “Interest Rate.” For the first Interest Period and provided that the DEBTOR’s Local Rating shall not suffer any change, the Applicable Margin is set at two point five annual percent points. For subsequent maturities, the Applicable Margin will be subject to changes only if there is no existing Default and provided that DEBTOR’s rating shall suffer any change, as referred to above. Any change in DEBTOR’s Local Rating during an Interest Period will be considered only if such change continues by the commencement of the following Interest Period. In the event that the referred TAB Rate were not reported in the future, and/or that such Rate were not set or suggested by the Banks Association, the applicable interest rate will be the rate that results from adding the Applicable Margin to the “Basic Rate” as described below. Such Basic Rate will be the rate informed fortnightly by the Central Bank of Chile and published on the Official Gazette, for adjustable 90 to 365-day deposits, annual base, average fortnightly interest rate (TIP) increased in the mandatory legal reserve for this kind of deposits, discounted of the interest established in Article III.A.two of the Compendio de Normas Financieras [Financial Rules Summary]. In the event that no TIP Rate was published or certified by the Central Bank, or that TIP Rate no longer existed, the Basic Rate will be the Banks’ average deposit-taking interest rate for 180-day commercial lending. In the event that DEBTOR or any other obligated payer would contest any one or more of the elements making up the agreed rate, the maximum usual interest rate for this kind of transactions will be used instead. The preceding sentence will not apply where the objection refers to number or calculation errors. Interest, as calculated by applying the Interest Rate to the Loans principal amount owed, shall be payable together with each Amortization, on each Date of Principal Payments. For the purposes of this Agreement, each above-referenced interest payment of interestdate will also be referred to, as an “Interest Payment Date”, and if this Note is authenticated between a Record Date referred each semi-annual period immediately prior to on the face hereof and the next succeeding an Interest Payment Date, including the first day, but excluding the last day, will hereinafter be referred to as an “Interest Period.” All interest amounts will be calculated on the basis of a 365-day year and on the number of days actually lapsed during the relevant period. If any Principal Payment Date or Interest Payment Date shall accrue fall on a day that is not a Banking Business Day, that mere fact will automatically postpone the Principal Payment Date or Interest Payment Date to the immediately following Banking Business Day, provided, however, that if as a result of such extension, the payment shall have to be made on the following calendar month, such payment will be made on the immediately preceding Banking Business Day. In such event, the payment will include any amount in respect of interest accrued until the actual date of payment, and the new Interest Period will be computed from such the date, as discussed above, of actual interest payment to the next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest parties hereby agree that the Promissory Notes in any proceeding under any Bankruptcy Law) on overdue principal, premium (including respect of the Applicable Premium), if any, and interest (without regard to any applicable grace period)Loans shall be changed, from time to time time, only if the Applicable Margin changes, as discussed above. For such purposes, DEBTOR hereby undertakes to sign the relevant Promissory Note extension sheets, to Creditors’ satisfaction, and in the form attached as Annex B hereof, which Annex is an integral part of this Agreement, signed by DEBTOR’s representative(s) and each Guarantor as surety, which signatures will be duly legalized by Notary Public, on demand the com mencement date –at a rate equal to 1% per annum in excess most– of the then applicable interest rate on Interest Period to which the Notes new Applicable Margin will apply, but only to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day monthsthat such Applicable Margin has changed. The Company will notify parties hereby additionally accept that for the Trustee in writing purpose of evidencing the amount applicable interest rate, and/or the rate ruling for the Loans from time to time during the effectiveness thereof, the Banks shall, through the Administrative Agent Bank, use any means of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne evidence, including certificates or statements issued by the Notes plus any Default Interest. If there has been no demand that the Company pay Default InterestBanks Association proper, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as case of [●]the substitute rate, 2016 (of the “Indenture”) among publications on the CompanyOfficial Gazette or Central Bank evidences, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureAdministrative Agent Bank’s option.

Appears in 1 contract

Samples: Claxson Interactive Group Inc

Interest. Offshore Group Investment LimitedFirstWorld Communications, Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 13 % per annum as set forth belowannum. Interest will not accrue until April 15, from 2003. Thereafter, the Issue Date until maturity. The Company will shall pay interest and Special Interest, if any, semi-annually in arrears on June 30 April 15 and December 31 of each yearOctober 15, commencing on June 30October 15, 20162003, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuanceFull Accretion Date; provided PROVIDED that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; PROVIDED, FURTHER, that the first Interest Payment Date shall be October 15, 2003. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Accreted Value will accrete between the date hereof and April 15, 2003, on a semi-annual bond equivalent basis using a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes this Note and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. to "interest" shall be deemed to include any Special Interest on this Note will accrue at the rate of 1% per annum prior that may become payable thereon according to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 provisions of the Indenture.;

Appears in 1 contract

Samples: Firstworld Communications Inc

Interest. Offshore Group Investment LimitedInsight Communications Holdings, Inc., a Cayman Islands exempted company Delaware corporation (the “Company”"Issuer"), promises to pay interest on the principal amount of this Note at 12 1/4% per annum from February 15, 2006 until maturity and shall pay the Liquidated Damages payable pursuant to, and to the extent required by, Section 5 of the Registration Rights Agreement referred to below. No interest will accrue on the Notes prior to February 15, 2006. Instead, the Accreted Value of each note will increase (representing amortization of original issue discount) between the date of original issuance and February 15, 2006, at a rate of 12 1/4% calculated on a semi-annual bond equivalent basis using a 360-day year comprised of twelve 30-day months, such that the Accreted Value on February 15, 2006 will be equal to the full principal amount at maturity of the Notes. Beginning on February, 2006, interest on the Notes will accrue at a rate of 12 1/4% per annum as set forth below, from the Issue Date until maturityannum. The Company Issuer will pay interest and Liquidated Damages semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuanceFebruary 15, 2006; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be August 15, 2006. The Company will Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; the Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Insight Communications Co Inc

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Interest. Offshore Group Investment LimitedPrior to December 15, 2009 (the "Full Accretion Date") interest will accrue on the Notes in the form of an increase in the accreted value of the Notes. Thereafter Xxxxxxx Company, a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount at maturity of this Note at a rate 10.0% per annum as set forth from December 15, 2009 until maturity and shall pay the Special Interest, if any, payable pursuant to Section 2 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Special Interest, if any, semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, No cash interest will accrue on the Notes prior to December 15, 2009, although for U.S. federal income tax purposes a significant amount of original issue discount, taxable as ordinary income, will be recognized by a Holder as such discount accretes. The accreted value of each note will increase on a daily basis from the date of issuance until December 15, 2009 at a rate of 10% per annum, reflecting the accrual of non-cash interest, such that the accreted value will equal the principal amount at maturity on December 15, 2009. Cash interest will accrue on the notes at the rate per annum of 10% from December 15, 2009, or from the most recent Interest Payment Date or, if no date to which interest has been paid, from semi-annually on June 15 and December 15 of each year, commencing June 15, 2010, to the date Holders of issuance; provided that if there is no existing Default in record at the close of business on June 1 and December 1 immediately preceding the interest payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Datedate. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Simmons Co

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay interest Interest on the principal amount Notes will accrue at the rate of this Note at a rate % per annum as set forth below, from the Issue Date until maturity. The Company and will pay interest be payable semi-annually in arrears on June 30 May 15 and December 31 of each yearNovember 15, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Dayfirst interest payment date following the Issue Date. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in original issuance of the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment DateNotes. The Company will pay make each interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including payment to the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess holders of record of the then applicable interest rate Notes on the Notes to the extent lawfulimmediately preceding May 1 and November 1. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid Payments on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default InterestPrincipal, the Company shall pay Default Interestpremium, if any, in the same manner as other interest, and Additional Amounts (as defined below under “—Withholding Taxes”), if any, on the same dates Global Notes (defined below) will be payable, at the corporate trust office or agency of the Trustee in London, England, provided that, such payments with respect to any Global Notes will be made to the common depository as set forth the registered holder of the Global Notes. The rights of holders to receive any payment in respect of any Global Notes are subject to applicable procedures of Euroclear and Clearstream (in each case as defined below under ―Form of Notes and Transfer and Exchange). Principal, premium, if any, interest, and Additional Amounts, if any, on the Notes and issued in the Indenture dated as of [●], 2016 certificated non-global form (the IndentureDefinitive Registered Notes”) among will be payable at the corporate trust office or agency of the Trustee in London, England, except that, at the option of the Company, payment of interest may be made by check mailed to the Guarantorsaddress of the holders of Definitive Registered Notes as such address appears in the register for Definitive Registered Notes. The Company will pay interest on Definitive Registered Notes to Persons who are 130 40810573_6 registered holders at the close of business on the record date immediately preceding the interest payment date for such interest. Such holders must surrender their Definitive Registered Notes to a Paying Agent to collect principal payments. If the due date for any payment in respect of any Notes is not a Business Day at the place at which such payment is due to be paid, the Trustee and the Noteholder Collateral Agent. Interest on this Note holders thereof will accrue at the rate of 1% per annum prior not be entitled to the fourth anniversary payment of the Issue Date. From and after amount due until the fourth anniversary of the Issue Date, interest on this Note will accrue next succeeding Business Day at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrarysuch place, and are subject will not be entitled to rounding and any further interest or other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 payment as a result of the Indentureany such delay.

Appears in 1 contract

Samples: Intercreditor Agreement (Liberty Global PLC)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the unpaid principal amount of this Note at a rate 4.875% per annum [and shall pay Additional Interest, if any, as set forth provided in the Registration Rights Agreement, dated May 14, 2015† referred below, from the Issue Date until maturity. ].* The Company will shall pay interest [and Additional Interest, if any,]* semi-annually in arrears on June 30 May 15 and December 31 November 15 of each yearyear (each, commencing on June 30an “Interest Payment Date”); provided that the first Interest Payment Date shall be November 15, 2016, or if any such day is not a Business Day, on the next succeeding Business Day2015. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will Interest shall accrue from the most recent Interest Payment Date date to which interest has been paid on this Note (or one or more Predecessor Notes) or, if no interest has been paid, from and including the date of issuanceoriginal issuance of this Note; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. Date.† The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal then in effect on this Note to 1% per annum the extent lawful; it shall pay interest (including post-petition interest in excess any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest, if any,]* (without regard to any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify If a payment date is not a Business Day, payment may be made on the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand next succeeding day that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interestis a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 4.875% Senior Notes due 2025 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the same dates as set forth Initial Note in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance connection with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureRegistration Rights Agreement.]**

Appears in 1 contract

Samples: Indenture (Range Resources Corp)

Interest. Offshore Group Investment LimitedDanka Business Systems PLC, a Cayman Islands exempted public company incorporated with limited liability under the Companies Act of 1985 with registered number 1101386 and with its registered office at Masters House, 000 Xxxxxxxxxxx Xxxx, Xxxxxx X00 0XX, Xxxxxxx (the "Company"), promises to pay interest on the principal amount of this Note at a rate 11% per annum as set forth from July 1, 2003 until maturity and shall pay the Additional Amounts, if any, and the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest interest, Liquidated Damages, if any, and Additional Amounts, if any, semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be December 15, 2003. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Insolvency Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal then in effect; it will pay interest (including post-petition interest in any proceeding under any Insolvency Law) on overdue installments of interest, Liquidated Damages, if any, and Additional Amounts, if any, (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Danka Business Systems PLC

Interest. Offshore Group Investment LimitedInvitel Holdings N.V., a Cayman Islands exempted private limited liability company incorporated under the laws of the Netherlands Antilles (such company and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), for value received promises to pay interest on the principal amount of this Note from October 30, 2006. Each Note will bear interest at a rate per annum (the “Applicable Rate”), reset quarterly, equal to EURIBOR, in each case, plus 8.250% as set forth belowdetermined by the calculation agent (the “Calculation Agent”), from which will initially be the Issue Date until maturityTrustee, plus the Ratchet Margin (if any). The Company Interest on the Notes will pay be payable (at the election of the Issuer made prior to the relevant record date in the case of cash interest) either in cash or through the issuance of Additional Notes in a principal amount equal to such interest semi-annually amount (in increments of €1) quarterly in arrears on June 30 January 15, April 15, July 15, and December 31 of each yearOctober 15, commencing on June 30January 15, 2016, or if any such day is not a Business Day, 2007. The Issuer will make each interest payment to the Holders of record of the Notes on the next succeeding Business Dayimmediately preceding January 1, April 1, July 1 and October 1. Except as otherwise provided in Sections 2.11 and 2.14 of The Additional Notes will be identical to the Indentureoriginally issued Notes, except that interest will begin to accrue from the date they are issued rather than the Issue Date. Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From The Calculation Agent will, as soon as practicable after 11:00 a.m. (London time) on each Determination Date, determine the Applicable Rate, and after calculate the fourth anniversary aggregate amount of interest payable on the Notes in respect of the Issue Datefollowing Interest Period (the “Interest Amount”). The Interest Amount will be calculated by applying the Applicable Rate to the principal amount of each Note outstanding at the commencement of the Interest Period, multiplying each such amount by the actual number of days in the Interest Period concerned divided by 360. All percentages resulting from any of the above calculations will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a percentage point being rounded upwards (e.g. 4.876545% (or .04876545) being rounded to 4.87655% (or .0487655)). All euro amounts used in or resulting from such calculations will be rounded to the nearest euro cent (with one-half euro cent being rounded upwards). The determination of the Applicable Rate and the Interest Rate Amount by the Calculation Agent shall, in the absence of willful default, bad faith or manifest error, be binding on all parties. The Applicable Rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application. The Calculation Agent shall be under no obligation to monitor whether the Applicable Rate exceeds such maximum rate. The Calculation Agent will, upon the written request of the Holder of any Note, provide the interest rate then in effect with respect to the Notes. The rights of holders of beneficial interests in the Notes to receive the payments of interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 applicable procedures of the Indenturebook-entry depositary and Euroclear and Clearstream. “Determination Date,” with respect to an Interest Period relating to EURIBOR, will be the day that is two TARGET Settlement Days preceding the first day of such Interest Period.

Appears in 1 contract

Samples: Indenture (Hungarian Telephone & Cable Corp)

Interest. Offshore Group Investment LimitedAeroflex Incorporated, a Cayman Islands exempted company Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at a rate 11.75% per annum as set forth from ________________, 20__ until maturity and shall pay the Special Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Special Interest, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 Interest and 2.14 of the IndentureSpecial Interest, interest if any, on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and Special Interest, if any, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest and Special Interest, if any, shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time principal on demand at a rate that is equal to 1% per annum in excess of the then applicable interest rate then in effect on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest and Special Interest, if any, will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Aeroflex Inc

Interest. Offshore Group Investment LimitedBombardier Recreational Products Inc., a Cayman Islands exempted company Canadian corporation (the “Company”), promises to pay interest on the principal amount of this Note at a rate 8 3/8% per annum as set forth from December 18, 2003 until maturity and shall pay the Additional Interest payable pursuant to Section 2 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will shall pay interest and Additional Interest semi-annually in arrears on December 15 and June 30 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be June 15, 2004. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Solely for purposes of providing the Trustee in writing of disclosure required by the amount Interest Act (Canada), the annual rate of interest proposed which is equivalent to be paid the rate payable on each Note and the date of Notes is the proposed payment. All references to “interest” shall mean the initial interest rate borne payable multiplied by the Notes plus any Default Interestactual number of days in the year divided by 360. If there has been no demand that Until an interest in this Regulation S Temporary Global Note is exchanged for one or more interests in the Company pay Default InterestRegulation S Permanent Global Notes, the Company Holder hereof shall pay Default Interestnot be entitled to receive payments of interest hereon; until so exchanged in full, if any, this Regulation S Temporary Global Note shall in all other respects be entitled to the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: BRP (Luxembourg) 4 S.a.r.l.

Interest. Offshore Group Investment LimitedMirant North America Escrow, LLC, a Cayman Islands exempted Delaware limited liability company (“Escrow LLC”), Mirant North America, LLC, a Delaware limited liability company (“MNA” and together with the Escrow LLC, the “Company”), promises and MNA Finance Corp., a Delaware corporation (the “MNA Finance Corp.” and, together with the Company, the “Issuers”) promise to pay interest on the principal amount of this Note Security at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company obligations of MNA under this Security shall not become effective until the Emergence Date. The Issuers will pay interest semi-annually in arrears on June 30 and December 31 of each year31, commencing on June 30, 2016, or if any such day is not a Business Day, 2006. Interest on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes Securities will accrue from the most recent Interest Payment Date date to which interest has been paid on the Securities or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestDecember 23, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date2005. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium and on overdue premium, if any (including plus interest on such interest to the Applicable Premiumextent lawful), if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal to 1% per annum in excess of borne by the then applicable interest rate on the Notes Securities to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify In the Trustee in writing of event that either the amount of interest proposed to be paid on each Note and Exchange Offer is not completed or the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 shelf registration statement (the “IndentureShelf Registration Statement) among ), if required by the CompanyRegistration Rights Agreement, is not declared effective on or prior to September 19, 2006, the Guarantors, interest rate on the Trustee and the Noteholder Collateral Agent. Interest on this Note Securities will accrue at the rate of 1be increased by 1.00% per annum prior until the Exchange Offer is completed or the Shelf Registration Statement, if required by the Registration Rights Agreement, is declared effective by the SEC or the Securities become freely tradable under the Securities Act. If the Shelf Registration Statement, if required by the Registration Rights Agreement, has been declared effective and thereafter either ceases to be effective or the Prospectus contained therein ceases to be usable at any time during the Shelf Effectiveness Period (as defined in the Registration Rights Agreement), and such failure to remain effective or usable exists for more than 30 days (whether or not consecutive) in any 12-month period, then the interest rate on the Securities will be increased by 1.00% per annum commencing on the 31st day in such 12-month period and ending on such date that the Shelf Registration Statement has again been declared effective or the Prospectus again becomes usable. The Holder of this Security is entitled to the fourth anniversary benefits of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureRegistration Rights Agreement.

Appears in 1 contract

Samples: Indenture (Mirant Corp)

Interest. Offshore Group Investment LimitedMDC Partners Inc., a Cayman Islands exempted company corporation continued under the laws of Canada (together with its successors and assigns, the “Company”), ) promises to pay interest on the principal amount of this Note at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company will pay interest semi-annually semiannually in arrears on June 30 and December 31 each Interest Payment Date of each yearyear commencing October 1, commencing on June 30, 2016, or 2013; provided that if any such day Interest Payment Date is not a Business Day, then such payment shall be made on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from from, and including, the most recent Interest Payment Date date to which interest has been paid on the Notes or, if no interest has been paid, from the date of issuancefrom, and including, March 20, 2013; provided that if there is no existing Default in or Event of Default on the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment DateDate (but after March 20, 2013), interest shall accrue from from, and including, such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from, and including, March 20, 2013. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand principal at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the then applicable rate on the Notes. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The All payments made by the Company will notify the Trustee in writing respect of the amount Notes will be made free and clear of interest proposed to be paid and without deduction or withholding for or on each Note and the date account of the proposed payment. All references to “interest” shall mean the initial interest rate borne any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such withholding or deduction is required by law or by the Notes plus any Default Interestinterpretation or administration thereof. If there has been no demand In that the Company pay Default Interestevent, the Company shall will pay Default Interest, if any, to each Holder of the Notes Additional Amounts as provided in the same manner as other interest, and on Indenture subject to the same dates as limitations set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (MDC Partners Inc)

Interest. Offshore Group Investment LimitedInergy, L.P., a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and Inergy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 7.0% per annum as set forth from September 27, 2010 until maturity and shall pay the Additional Interest payable pursuant to Section 2(d) of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 April 1 and December 31 October 1 of each year, commencing on June 30April 1, 20162011, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal that is the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Inergy L P)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises The Issuers promise to pay interest on the principal amount of this Note until maturity. At the election of the Issuers (made by delivering a notice to the Trustee not later than the close of business on the June 1 or December 1 next preceding the Interest Payment Date, interest shall be payable (x) in cash at a rate of 10.0% per annum as set forth below, from the Issue Date until maturityto [_______], 2014 and 12.0% per annum from and including [______],2014 (“Cash Interest”) or (y) at a rate of 12.0% per annum from the Issue Date to [_______], 2014 and 14.0% per annum from and including [______],2014 by increasing the principal amount of the outstanding Notes or by issuing additional PIK Notes (“PIK Interest”); provided that, notwithstanding the foregoing, the Issuers may not elect to pay interest in kind for any interest period with respect to which the Issuers would be permitted to pay such interest in cash pursuant to the terms of the Credit Agreement. Following an increase in the principal amount of the outstanding Global Notes as a result of a PIK Payment, the Notes will bear interest on such increased principal amount from and after the date of such PIK Payment. Any PIK Notes issued in certificated form will be dated as of the applicable interest payment date and will bear interest from and after such date. All Notes issued pursuant to a PIK Payment will be governed by, and subject to the terms, provisions and conditions of, the indenture and shall have the same rights and benefits as the Notes issued on the Issue Date. The Company will Issuers shall pay interest semi-annually in arrears on [June 30 15 and December 31 15] of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise Day (each, an “Interest Payment Date”); provided in Sections 2.11 that if the maturity date of this Note is not on an Interest Payment Date, the Issuers shall pay all accrued and 2.14 of the Indenture, unpaid interest on the maturity date. Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including ; provided further that the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulfirst Interest Payment Date shall be [June 15,] 2013. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Circus and Eldorado Joint (Circus & Eldorado Joint Venture)

Interest. Offshore Group Investment LimitedThe Issuers jointly and severally promise to pay interest on this Note at the rate of 16.5% per annum. For any interest period through December 15, a Cayman Islands exempted company (2011, the “Company”), promises Issuers may elect to pay interest on the principal Notes, at their option, (a) entirely in cash ("Cash Interest"), or (b) entirely by issuing new Notes ("Payment-in-Kind Notes") in an amount equal to the amount of PIK Interest for the applicable interest period (rounded up to the nearest whole dollar) on the applicable interest payment date. Payment of any Cash Interest on the relevant Interest Payment Date shall be made to the holder of this Note at a rate per annum as set forth below, from on the Issue Date until maturityrelevant record date. The Company Issuers shall elect the form of interest payment with respect to each interest period by giving notice to the Trustee at least five Business Days prior to the beginning of the applicable interest period. In the absence of such an election, interest will be payable in Payment-in-Kind Notes. The first interest payment shall be paid in the form of Payment-in-Kind Notes. On and after June 15, 2012, the Issuers must pay all interest on the Notes entirely in the form of cash. The Issuers will pay interest semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date to which interest has been paid, either as Cash Interest or Payment-in-Kind Notes, or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal; provided further that the first Interest Payment Date shall be June 15, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful2008. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Issuers shall pay interest on overdue principal at the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default InterestNotes, the Company and shall pay Default Interest, if any, in interest on overdue installments of cash interest at the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureextent lawful.

Appears in 1 contract

Samples: Harbinger Capital Partners Master Fund I, Ltd.

Interest. Offshore Group Investment LimitedMEMC Electronic Materials, Inc., a Cayman Islands exempted company Delaware corporation (the “Company”"Issuer"), for value received, hereby promises to pay pay, upon presentation and surrender of this Note on November 13, 2007 or upon redemption or prepayment pursuant to the Indenture referred to below (the "Stated Maturity"), the principal amount of this Note, together with interest on such principal amount calculated at the applicable rates set forth in the chart below (the "Interest Rate"): Dates Interest Rate Per Annum -------------------------------------------------------------------------------- From and including Issue Date to but excluding November 13, 2003..............8% From and including November 13, 2003 through Stated Maturity.................14% Accumulated interest shall be added to the principal amount of this Note at a rate per annum as set forth below, from the Issue Date until maturity. The Company will pay interest semi-annually in arrears on June 30 and December 31 November 13 of each year, commencing on June 30, 2016, year (or if any such day date is not a Business Day, on the Business Day immediately preceding such day), commencing November 13, 2002 (each such date, a "Period End Date", and each period from, and including one Period End Date to, but excluding, the next succeeding Business DayPeriod End Date, an "Accrual Period;" provided that that the initial Accrual Period will commence on, and include, the Issue Date). Except as otherwise provided On each Period End Date, the interest payable in Sections 2.11 and 2.14 respect of the Indenture, interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from Accrual Period shall be calculated by the date Paying Agent and added to the principal amount of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on and, during the face hereof and following Accrual Period, the next succeeding Interest Payment Date, resulting principal amount shall be used by the Paying Agent in calculating interest shall accrue from due in respect of such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulAccrual Period. Interest will shall accumulate and be computed calculated on the basis of a year of a 360-day year comprised consisting of twelve 30-day months. The Company will notify Notwithstanding the Trustee in writing foregoing paragraph, at any time after November 13, 2005, the Holders of a majority (by aggregate principal amount) of the amount of Notes may direct, by written consent, that interest proposed to earned during the then-current Accrual Period shall be paid on each Note due and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, payable in the same manner as other interest, and cash on the same dates as set forth in Period End Date next following such written direction; provided, however that any such notice must be provided to the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the GuarantorsIssuer, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue Registrar and Paying Agent at the rate of 1% per annum least sixty (60) days prior to the fourth anniversary of the Issue relevant Period End Date. From and after the fourth anniversary of the Issue DateUnless such written direction has been given, interest shall continue to accrue and be added to principal in the manner and on this Note will accrue at the rate of 12% per annumdates set forth in the previous paragraph. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date calculations shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only determined by the Paying Agent in accordance with the methodology specified in Section 4.01 terms of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contraryNotes, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturesuch determination shall be prima facie evidence thereof absent manifest error.

Appears in 1 contract

Samples: Pledge Agreement (Memc Electronic Materials Inc)

Interest. Offshore Group Investment LimitedTransAmerican Refining Corporation, a Cayman Islands exempted company Texas corporation (the “Company”"COMPANY"), promises to pay interest on the principal amount of this Note at a rate of 15% per annum. To the extent it is lawful, the Company promises to pay interest on any interest payment due but unpaid on such principal amount at a rate of 2% per annum compounded semi-annually. On each Interest Payment Date through and including December 1, 2000, the Company may, at its option and in its sole discretion, in lieu of the payment of interest in cash on the Notes, pay interest on all outstanding Notes in whole, but not in part, through the issuance of PIK Notes, in denominations (rounded, if necessary to the nearest dollar) of $1 and integral multiples thereof, in an aggregate principal amount equal to the amount of interest that would be payable with respect to such Notes, if such interest were paid in cash. The Company shall notify the Holders and the Trustee in writing of its election to pay interest through the issuance of PIK Notes not less than 10 nor more than 45 days prior to the record date for an Interest Payment Date on which PIK Notes will be issued. The Company may, at its option and in its sole discretion, issue Additional Notes, in denominations (rounded, if necessary to the nearest dollar) of $1 and integral multiples thereof, in an aggregate principal amount of up to $150,000,000. The Company shall notify the Holders and the Trustee in writing of any issuance of Additional Notes not less than 10 days prior to the date on which Additional Notes will be issued. Each PIK Note or Additional Note is an additional obligation of the Company and shall be governed by, and entitled to the benefits of, and shall be subject to the terms of, this Agreement and shall rank pari passu with and be subject to the same terms (including the interest rate from time to time payable thereon) as set forth belowany other Note (except, from as the Issue Date until maturitycase may be, with respect to the issuance date and aggregate principal amount). The Company will pay interest semi-annually in arrears on June 30 1 and December 31 1 of each yearyear (each, an "INTEREST PAYMENT DATE"), commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day[________]. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess issuance of the then applicable interest rate Notes. Interest on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised consisting of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Transamerican Energy Corp

Interest. Offshore Group Investment Limited(a) Bumble Bee Foods, LLC, a Cayman Islands exempted company Delaware limited liability company, Xxxxxxx Bros. Clover Leaf Seafoods Company, a Nova Scotia unlimited company, and Bumble Bee Capital Corp., a Delaware corporation (together with Bumble Bee Foods, LLC and Xxxxxxx Bros. Clover Leaf Seafoods Company, the “CompanyIssuers”), promises promise to pay interest on the principal amount of this Note (the “Notes”) at a rate per annum as set forth below, from the Issue Date until maturityfixed rate. The Company Issuers will pay interest semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on June 30 15 and December 31 15 of each year, commencing on June 3015, 20162010 or, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuanceand including December 17, 2009; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment DateDate (but after June 15, 2010), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of the Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including principal at the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 12.0% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the same rate to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by on the Notes plus any Default Interest. If there has been will in no demand that event be higher than the Company pay Default Interest, the Company shall pay Default Interest, if any, in maximum rate permitted by New York law as the same manner may be modified by United States law of general application. The Issuers shall also pay such Additional Amounts as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Intercreditor Agreement (Bumble Bee Capital Corp.)

Interest. Offshore Group Investment LimitedThe Xxxxxxxxx Corporation, a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the "Company"), promises to pay interest on the principal amount of this Note Security at the rate per annum shown above [; provided, however, -------- ------- that if a Registration Default (as defined in the Registration Rights Agreement) occurs, interest will accrue on this Security at a rate of 0.50% per annum from and including the date on which any such Registration Default shall occur to but excluding the date on which all Registration Defaults have been cured, calculated on the principal amount of this Security as set forth belowof the date on which such interest is payable; provided, however, that (i) no holder of Securities who is -------- ------- not entitled to the benefits of a Shelf Registration Statement shall be entitled to receive additional interest by reason of a Registration Default that pertains to a Shelf Registration Statement; and (ii) no holder of Securities constituting an unsold allotment from the Issue Date until maturityoriginal sale of the Securities or any other holder of Securities who is entitled to the benefits of a Shelf Registration Statement shall be entitled to receive additional interest by reason of a Registration Default that pertains to a Registered Exchange Offer. Such interest is payable in addition to any other interest payable from time to time with respect to this Security]/1/. The Company will pay interest semi-annually in arrears semiannually on June 30 April 15 and December 31 October 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, . Interest on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes Securities will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the April 20, 1999 [date of issuance; provided that if there is no existing Default in the payment issuance of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulAdditional Securities]. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify shall pay interest on overdue principal at the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default InterestSecurities, the Company and it shall pay Default Interest, if any, in interest on overdue installments of interest at the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureextent lawful.

Appears in 1 contract

Samples: Marson Creative Fastener Inc

Interest. Offshore Group Investment LimitedUltra Resources, Inc., a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), promises to pay interest on the principal amount of this Note (including any PIK Notes and increases in principal amount as a result of the payment of PIK Interest) at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company Issuer will pay interest semi-annually in arrears semiannually on June 30 January 15 and December 31 July 15 of each yearyear commencing July 15, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day2019. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid on the Notes or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestDecember 21, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date2018. The Company will Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, and on overdue premium (including plus interest on such interest to the Applicable Premiumextent lawful), if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal to 1% per annum in excess of the then applicable interest rate on borne by the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Issuer shall pay Additional Amounts or Reimbursement Payments with respect to payments on the Trustee Notes in writing the circumstances set forth in Section 2.18 of the Indenture. Interest on the Notes will accrue at (1) the annual rate of 9.00% and be payable in cash (“Cash Interest”), and (2) an annual rate of 2.00% (the “PIK Interest”) payable by increasing the principal amount of interest proposed the outstanding Notes represented by one or more book entry Notes or Global Notes or, with respect to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne Notes represented by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interestindividual certificates, if any, by issuing additional “PIK Notes” in certificated form, in each case by rounding up to the nearest $1.00. Any PIK Notes issued in certificated form will be dated as of the applicable interest payment date and will bear interest from and after such date. Following an increase in the same manner principal amount of the outstanding Securities as other interesta result of a PIK Payment, and on the same dates as set forth in the Notes will accrue interest on such increased principal amount from and after the related interest payment date of such PIK Payment. References herein and in the Indenture dated as of [●], 2016 (to the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary principal amount” of the Issue Date. From and after Notes include any increases in the fourth anniversary principal amount of the Issue Date, interest on this Note will accrue at the rate outstanding Notes as a result of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as a PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndenturePayment.

Appears in 1 contract

Samples: Indenture (Ultra Petroleum Corp)

Interest. Offshore Group Investment LimitedRegency Energy Partners LP, a Cayman Islands exempted company Delaware limited partnership (the CompanyRegency Energy Partners”), promises and Regency Energy Finance Corp., a Delaware corporation (“Finance Corp.” and, together with Regency Energy Partners, the “Issuers”), promise to pay interest on the principal amount of this Note at a rate 8 3/8% per annum as set forth from December 12, 2006 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 4 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 15 and December 31 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be June 15, 2007. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, from time to time on demand at the rate then in effect to the extent lawful; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and interest Liquidated Damages, if any (without regard to any applicable grace periodperiods), from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Regency Energy Partners LP

Interest. Offshore Group Investment LimitedCEDC FINANCE CORPORATION INTERNATIONAL, INC., a Cayman Islands exempted company incorporated under the laws of Delaware (the “CompanyIssuer”), promises to pay interest on the principal amount of this Note at a the rate and in the manner specified below. Interest on the Notes will accrue at the rate of 10 percent per annum and will be payable semiannually in arrears on April 30 and October 31, commencing on October 31, 2013. Interest will be payable, at the election of the Issuer (made by delivering an Officer’s Certificate to the Trustee and Paying Agent at least three (3) Business Days prior to the beginning of each such interest period), (1) entirely in cash (“Cash Interest”), or (2) by increasing the principal amount of the outstanding Notes or by issuing Notes (“PIK Interest”) or (3) with a 25%/75%, 50%/50% or 75%/25% combination of Cash Interest and PIK Interest. In the absence of an interest payment election made by the Issuer as set forth belowin the preceding sentence, from interest on the Issue Date until maturityNotes shall be payable in PIK Interest. Notwithstanding the foregoing, the Issuer shall pay the first interest payment in PIK Interest. The Company Issuer will pay make each interest semi-annually in arrears on June 30 and December 31 payment to the Holders of each year, commencing on June 30, 2016, or if any such day is not a Business Day, record on the next succeeding Business Dayimmediately preceding April 15 and October 15. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date or(and including) June 1, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful2013. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company If the due date for any payment in respect of any Note is not a Business Day at the place in which such payment is due to be paid, the Holder thereof will notify the Trustee in writing not be entitled to payment of the amount due until the next succeeding Business Day at such place, and will not be entitled to any further interest or other payment as a result of any such delay. Any PIK Interest on the Notes will be payable (x) with respect to Notes represented by one or more global Notes registered in the name of, or held by, The Depository Trust Company (“DTC”) or its nominee on the relevant Interest Payment Date, by increasing the principal amount of the outstanding global Note by an amount equal to the amount of PIK Interest for the applicable interest proposed period (rounded up to be paid the nearest whole dollar) as provided in writing by the Issuer to the Trustee and the Paying Agent and (y) with respect to Notes represented by certificated Notes, by issuing Notes in certificated form in an aggregate principal amount equal to the amount of PIK Interest for the applicable interest period (rounded down to the nearest whole dollar), and the Trustee or the Authenticating Agent will, at the written request of the Issuer, authenticate and deliver such PIK Notes in certificated form for original issuance to the holders on each the relevant record date, as shown by the records of the register of Holders. Following an increase in the principal amount of any outstanding global Notes as a result of a PIK Payment, such global Note will bear interest on such increased principal amount from and after the date of such PIK Payment. Any PIK Notes issued in certificated form will be dated as of the proposed paymentapplicable interest payment date and will bear interest from and after such date. All references Notes issued pursuant to a PIK Payment will mature on April 30, 2018 and will be governed by, and subject to the terms, provisions and conditions of, the Indenture and shall have the same rights and benefits as the Notes issued on the Issue Date. Any certificated PIK Notes will be issued with the description interestPIKon the face of such PIK Note. The Issuer shall mean pay, to the initial extent such payments are lawful, interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate then borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 121.0% per annum. All Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If any definitive registered Notes are issued in the future, principal of, or premium and interest payments (other than on any such definitive registered Notes will be payable at the Maturity Dateoffice of one or more Paying Agents (as defined below) in New York as maintained for such purposes. In addition, or as provided in this Note) will interest on the definitive registered Notes may be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior paid by check mailed to the Maturity Date, the final interest payment Person entitled thereto as shown on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with register for the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturedefinitive registered Notes.

Appears in 1 contract

Samples: Central European Distribution Corp

Interest. Offshore Group Investment LimitedMidwest Generation, LLC, a Cayman Islands exempted Delaware limited liability company (the “Company”"Midwest"), promises and Midwest Finance Corp., a Delaware Corporation ("Midwest Finance" and, together with Midwest, the "Issuers"), jointly and severally, promise to pay interest on the principal amount of this Note at a rate 8.75% per annum as set forth from April 27, 2004 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 6 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 May 1 and December 31 November 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be November 1, 2004. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium principal at the applicable interest rate on the Notes to the extent lawful; it will pay interest (including the Applicable Premium)post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, and interest (without regard to any applicable grace period), from time to time on demand periods) at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Indenture (Midwest Generation LLC)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay Cash interest on the principal amount of this Note Notes will not accrue on the Notes until May 15, 2003; PROVIDED that if the Company exercises the Cash Interest Election, cash interest will accrue on the Notes from the Semi-Annual Accrual Date with respect to which the Cash Interest Election is made. Cash interest on the Notes will accrue at a rate per annum as set forth belowof 11 1/4% PER ANNUM from and including the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from and including the Issue earlier of May 15, 2003 or the Semi-Annual Accrual Date until with respect to which the Cash Interest Election is made through but excluding the date on which interest is paid or duly provided for. Interest shall be payable in arrears on each May 15 and November 15 and at stated maturity, commencing on the earlier of November 15, 2003 or the Interest Payment Date immediately following the Semi-Annual Accrual Date with respect to which the Cash Interest Election is made (or if any such Interest Payment Date is not a Business Day, on the next succeeding Business Day). Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company Issuer will pay interest Liquidated Damages, if any, in cash semi-annually in arrears on June 30 May 15 and December 31 November 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as Whether or not the Notes are then otherwise provided accruing cash interest, the Issuer shall pay cash interest (including post-petition interest in Sections 2.11 any proceeding under any Bankruptcy Law) on overdue Accreted Value, principal and 2.14 premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the Indenture, rate of interest on the Notes will accrue from (whether or not cash interest is then accruing or payable). Whether or not the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of Notes are then otherwise accruing cash interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest Issuer shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, installments of interest and interest Liquidated Damages (without regard to any applicable grace period), periods) from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Restaurant Co

Interest. Offshore Group Investment LimitedCopano Energy, L.L.C., a Cayman Islands exempted Delaware limited liability company (the “Company”), promises and Copano Energy Finance Corporation, a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 8.125% per annum as set forth from February 7, 2006 until maturity and shall pay the Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 March 1 and December 31 September 1 of each year, commencing on June 30September 1, 20162006, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal that is the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Copano Energy, L.L.C.)

Interest. Offshore Group Investment LimitedMagnaChip Semiconductor S.A., a Cayman Islands exempted Luxembourg public limited liability company (société anonyme) with a registered office at 00, xxx xx Xxxx, X.X. 000 X-0000 Xxxxxxxxxx registered with the register of commerce and companies of Luxembourg under number B-97483 (CompanyMagnaChip”), promises and MagnaChip Semiconductor Finance Company, a Delaware corporation (“FinanceCo” and, together with MagnaChip, the “Issuers”), jointly and severally promise to pay or cause to be paid interest on the principal amount of this Note at a rate 10.500% per annum as set forth from , ___until maturity and shall pay the Special Interest, if any, payable pursuant to the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Special Interest, if any, semi-annually in arrears on June 30 April 15 and December 31 October 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , 20___. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, from time to time on demand at a rate that is 1% higher than the then applicable interest rate on the Notes to the extent lawful; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and interest Special Interest, if any (without regard to any applicable grace period), from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Magnachip Semiconductor LLC

Interest. Offshore Group Investment LimitedEV Energy Partners, L.P., a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and EV Energy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 8.0% per annum as set forth from March 22, 2011 until maturity and shall pay any Additional Interest payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 April 15 and December 31 October 15 of each yearyear (each an “Interest Payment Date”), commencing October 15, 2011. If an Interest Payment Date falls on June 30, 2016, or if any such a day that is not a Business Day, the interest payment to be made on such Interest Payment Date will be made on the next succeeding Business DayDay with the same force and effect as if made on such Interest Payment Date, and no additional interest will accrue solely as a result of such delayed payment. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of higher than the then applicable interest rate on the Notes to the extent lawful and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and any Additional Interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (EV Energy Partners, LP)

Interest. Offshore Group Investment LimitedParagon Corporate Holdings Inc., a Cayman Islands exempted company Delaware corporation, or its successor (the "Company"), promises to pay interest on the principal amount of this Senior Note at a rate 9 5/8% per annum as set forth from April 1, 1998 until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages semi-annually in arrears on June 30 April 1 and December 31 October 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Senior Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Senior Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date is October 15, 1998. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including principal at the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Senior Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable grace period) at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Senior Subordinated Senior Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Indenture (Curtis Sub Inc)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), The Company promises to pay interest on the principal amount of this 7-Year Dollar Note at a rate 10 3/8% per annum as set forth and shall pay the Liquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will shall pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the 7-Year Dollar Notes will shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuanceFebruary 18, 2000(3); provided that if there is no existing Default in the payment of interest, and if this 7-Year Dollar Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further that if the Exchange Offer is consummated [FOR INITIAL NOTES ONLY:] [and Exchange Notes are issued in exchange for this 7-Year Dollar Note in connection therewith, any accrued and unpaid interest on this 7-Year Dollar Note shall be deemed to have accrued with respect to, and shall be paid with respect to, such Exchange Notes] [FOR EXCHANGE NOTES ONLY:] [and this 7-Year Dollar Note is issued in exchange for Initial Notes in connection therewith, interest will accrue on this 7-Year Dollar Note from the last day on which interest was paid on such Initial Notes prior to the issuance of this 7-Year Dollar Note or, if no such interest has been paid, from February 18, 2000(3)]; provided, further, that the first Interest Payment Date shall be August 15, 2000(3). The Company will shall pay interest (including post- petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate of 10 3/8% per annum. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, installments of interest and interest Liquidated Damages (without regard to any applicable grace period), periods) from time to time on demand at a the same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Azurix Corp)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay interest on the principal amount of this Note at a rate of 11 1/2% per annum as set forth belowannum, from the Issue Date until maturity. The Company will pay interest semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30February 1, 20162011, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 12% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. At least 15 days before the Record Date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) will mail or cause to be mailed to Holders a notice that states the Record Date, the related Interest Payment Date and the amount of such interest to be paid. The Company will pay Additional Interest, if any, to Holders pursuant to the Registration Rights Agreement. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest, any Additional Interest and any Special Interest, as the case may be. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, Additional Interest, if any, and Special Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●]July 30, 2016 2010 (the “Indenture”) among the Company, the Guarantors, the Trustee Guarantors and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureTrustee.

Appears in 1 contract

Samples: Indenture (Vantage Drilling CO)

Interest. Offshore Group Investment LimitedNGL Energy Partners LP, a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and NGL Energy Finance Corp., a Delaware corporation (together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of this Note at a rate 5.125% per annum as set forth until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 January 15 and December 31 July 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be January 15, 2015. The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes Notes; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Supplemental Indenture (NGL Energy Partners LP)

Interest. Offshore Group Investment LimitedAmerican Casino & Entertainment Properties LLC, a Cayman Islands exempted Delaware limited liability company ("ACEP") and American Casino & Entertainment Properties Finance Corp., a Delaware corporation ("ACEP Finance", together with ACEP, the "Company"), promises to pay interest on the principal amount of this Note at a rate 7.85% per annum as set forth from ________________, 20__ until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 1 and December 31 August 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Note, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Stratosphere Leasing, LLC

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company (the “Company”), promises to pay interest Outstanding principal on the principal amount Loans shall bear interest at the option of this Note Borrower (subject to the terms and conditions herein) at either the Base Rate or Eurodollar Base Rate, calculated daily, at the following rates per annum (individually called, as applicable, an "APPLICABLE ANNUAL RATE"): (i) each Eurodollar Loan shall bear interest at a rate per annum as set forth belowequal to two and one quarter percent (2.25%) above the Eurodollar Base Rate for the Eurodollar Interest Period applicable thereto if the principal aggregate amount of Loans outstanding is less than Ten Million Dollars ($10,000,000) on the date of the Borrowing Notice for such Eurodollar Loan, from (ii) each Eurodollar Loan shall bear interest at a rate per annum equal to two percent (2.00%) above the Issue Date until maturityEurodollar Base Rate for the Eurodollar Interest Period applicable thereto if the aggregate principal amount of Loans outstanding is Ten Million Dollars ($10,000,000) or more on the date of the Borrowing Notice for such Eurodollar Loan, and (iii) the Base Rate Loans shall bear interest at a fluctuating rate per annum equal to one-half of one percent (0.50%) above the Base Rate. The Company will pay interest semi-annually rate applicable to Base Rate Loans shall be increased or decreased, as the case may be, by an amount equal to any increase or decrease in arrears the Base Rate, with such adjustments to be effective as of the opening of business on June 30 and December 31 of each year, commencing on June 30, 2016, or if the day that any such change in the Base Rate becomes effective. The Base Rate in effect on the date hereof shall be the Base Rate effective as of the opening of business on the date hereof, but if this Agreement is executed on a day that is not a Business Day, the Base Rate in effect on the next succeeding Business Day. Except date hereof shall be the Base Rate effective as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest opening of business on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from last Business Day immediately preceding the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agenthereof. Interest on this Note will accrue at the rate Loans shall be calculated daily, based on the actual days elapsed over a three hundred-sixty (360) day year. Further, for the purpose of 1% per annum prior computing interest, all items of payment received by Lender shall be applied by Lender (subject to the fourth anniversary final payment of the Issue Date. From all drafts and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other items received in form other than at immediately available funds) against the Maturity Date, or as provided in this Note) Obligations on the day of receipt. The determination of when a payment is received by Lender will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureSECTION 3.6.

Appears in 1 contract

Samples: Loan and Security Agreement (Cal Dive International Inc)

Interest. Offshore Group Investment LimitedNumatics, Incorporated, a Cayman Islands exempted company Michigan corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 9-5/8% per annum as set forth from March 23, 1998 until maturity and shall pay the Liquidated Damages payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest semi-and Liquidated Damages semi- annually in arrears on June 30 April 1 and December 31 October 1 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be October 1, 1998. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable interest grace periods) from time to time on demand at the same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify [Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on Notes under the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.Indenture.]/5/

Appears in 1 contract

Samples: Iae Inc

Interest. Offshore Group Investment LimitedCumulus Media Inc., a Cayman Islands exempted company Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), promises to pay interest on the principal amount of this Note at a the rate of 7.75% per annum as set forth belowannum, from the Issue Date until maturity. The Company will pay interest semi-annually in arrears on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes will which shall accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from May 13, 2011. The Issuer shall pay interest on overdue principal at the date of issuance; provided that if there is no existing Default in the payment of interestrate specified herein, and if this Note is authenticated between a Record Date referred to it shall pay interest on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay overdue installments of interest (including post-petition interest in any proceeding under any Bankruptcy LawAdditional Interest) on overdue principal, premium (including at the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a same rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Notwithstanding the Trustee in writing foregoing, if the Merger Agreement is terminated without consummation of the amount Citadel Transaction or the parties thereto have publicly announced their determination not to proceed with the Citadel Transaction, interest on the Notes shall accrue at the rate of interest proposed to be paid on each Note and 8.25% per annum with effect from the date of such termination or announcement. The Issuer shall make each interest payment in cash semi-annually in arrears on May 1 and November 1 of each year, commencing on November 1, 2011, or if any such day is not a Business Day, on the proposed paymentnext succeeding Business Day (each, an “Interest Payment Date”) to Holders of record of Notes on the immediately preceding April 15 and October 15. All references In addition to the rights provided to Holders under the Indenture, Holders of Registrable Securities shall have all rights set forth in the Registration Rights Agreement, dated as of May 13, 2011, among the Issuer, the Guarantors named therein and the other parties named on the signature pages thereto (the interest” shall mean Registration Rights Agreement”), including the initial interest rate borne by the Notes plus any Default Interestright to receive Additional Interest in certain circumstances. If there has been no demand that applicable, Additional Interest shall be paid to the Company pay Default Interest, the Company shall pay Default Interest, if anysame Persons, in the same manner as other interest, and on at the same dates times as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureregular interest.

Appears in 1 contract

Samples: Indenture (Cumulus Media Inc)

Interest. Offshore Group Investment LimitedCalumet Specialty Products Partners, L.P., a Cayman Islands exempted company Delaware limited partnership (the “Company”), promises and Calumet Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the unpaid principal amount of this Note at a rate 7.75% per annum as set forth [and shall pay the Additional Interest payable pursuant to Section 2 of the Registration Rights Agreement referred to below, from the Issue Date until maturity]. The Company Issuers will pay interest and Additional Interest, if any, semi-annually in arrears on June 30 April 15 and December 31 October 15 of each year, commencing on June 30October 15, 20162015, or if any such day is not a Business Day, on the next succeeding Business DayDay (each an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Company will Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal that is the rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to 1% per annum in excess of any applicable grace periods) from time to time on demand at the then applicable interest same rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Supplemental Indenture (Calumet Specialty Products Partners, L.P.)

Interest. Offshore Group Investment LimitedRathGibson, Inc., a Cayman Islands exempted company Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at a rate 11.25% per annum as set forth from ________________, 20__ until maturity and shall pay the Liquidated Damages, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest and Liquidated Damages, if any, semi-annually in arrears on June 30 February 15 and December 31 August 15 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an "Interest Payment Date"). Except as otherwise provided in Sections 2.11 Interest, and 2.14 of the IndentureLiquidated Damages, interest if any, on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, or Liquidated Damages, if any, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest and Liquidated Damages, if any, shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be _____________, 20__. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time principal on demand at a rate that is equal to 1% per annum in excess of the then applicable interest rate then in effect on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest and Liquidated Damages, if any, will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Trustee in writing of the amount Holder hereof shall not be entitled to receive payments of interest proposed hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner benefits as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of under the Indenture.

Appears in 1 contract

Samples: Indenture (RathGibson Inc)

Interest. Offshore Group Investment LimitedHilton Grand Vacations Borrower LLC, a Cayman Islands exempted Delaware limited liability company (the “CompanyIssuer”), promises and Hilton Grand Vacations Borrower Inc., a Delaware corporation (the “Co-Issuer”) and, together with the Issuer, the “Issuers”) (in each case, until a successor Person or Persons shall have become such pursuant to the applicable provisions of the Indenture, and thereafter references to “Issuer” or “Issuers” shall refer to such successor Person or Persons), jointly and severally, promise to pay interest on the principal amount of this Note at a rate per annum as set forth of 6.500% from [-], [-]1 until maturity and to pay the Additional Interest, if any, payable pursuant to the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company Issuers will pay interest on this Note semi-annually in arrears on June 30 1 and December 31 1 of each year, commencing on beginning June 301, 20162017, or or, if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 The Issuers will make each interest payment to the Holder of the Indenture, interest record of this Note on the Notes immediately preceding May 15 and November 15 (each, a “Record Date”). Interest on this Note will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestand including [-], and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. [-].2 The Company Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and premium, if any, and from time to time on demand at the rate borne by this Note; the Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), periods) from time to time on demand at a the rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawfulborne by this Note. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenture.

Appears in 1 contract

Samples: Indenture (Hilton Grand Vacations Inc.)

Interest. Offshore Group Investment LimitedStewart & Stevenson LLC (the "Company"), a Cayman Islands exempted company Delaware limited liability xxxxxxatixx xxx Xxewart & Stevenson Corp., a Delaware corporation (such companies, anx xxxxx suxxxxxxxx and assigns under the “Company”Indenture hereinafter referred to, being herein called the "Issuers"), promises promise to pay interest on the principal amount of this Note Security at a the rate per annum as set forth below, from the Issue Date until maturityshown above. The Company will pay interest semi-annually in arrears on June 30 January 15 and December 31 of each yearJuly 15, commencing on June 30January 15, 2016, or if any such day is not a Business Day, 2007. Interest on the next succeeding Business Day. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest on the Notes Securities will accrue from the most recent Interest Payment Date date to which interest has been paid on the Securities or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestJuly 6, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date2006. The Company will shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principalprincipal and on overdue premium, premium if any (including plus interest on such interest to the Applicable Premiumextent lawful), if any, and interest (without regard to any applicable grace period), from time to time on demand at a the rate equal to 1% per annum in excess of borne by the then applicable interest rate on the Notes Securities to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify [If an exchange offer (the Trustee in writing "Exchange Offer") registered under the Securities Act is not consummated or a shelf registration statement (the "Shelf Registration Statement") under the Securities Act with respect to resales of the amount Securities is not declared effective by the SEC on or before the date that is 270 days after the Issue Date (the "Target Registration Date") in accordance with the terms of interest proposed to be paid on each Note the Registration Rights Agreement dated July 6, 2006 among the Issuers, the Subsidiary Guarantors and the date of Initial Purchaser, the proposed payment. All references to “interest” shall mean the initial annual interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company Securities shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at be increased from the rate of 1shown above by (i) 0.25% per annum prior for the first 90-day period immediately following the Target Registration Date and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until the Exchange Offer is completed or the Shelf Registration Statement, if required, is declared effective by the SEC or the Securities become freely tradable under the Securities Act, up to a maximum of 1.00% per annum of additional interest. If the Issuers receive a request (a "Shelf Request") from an Initial Purchaser representing that it holds Securities that are or were ineligible to be exchanged in the Exchange Offer and requesting that a Shelf Registration Statement be filed due to an unsold allotment of Securities held by such Initial Purchaser, and the Shelf Registration Statement is not declared effective by the SEC by the later of (x) 150 days after the Issue Date and (y) 90 days after the delivery of such Shelf Request (the "Shelf Additional Interest Date"), the annual interest rate borne by such Securities held by the Initial Purchaser shall be increased from the rate shown above by (i) 0.25% per annum for the first 90-day period immediately following the Shelf Additional Interest Date and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until the Shelf Registration Statement is declared effective or the Securities become freely tradable under the Securities Act, up to a maximum of 1.00% per annum of additional interest. The Holder of this Security is entitled to the fourth anniversary benefits of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturesuch Registration Rights Agreement.]

Appears in 1 contract

Samples: Stewart & Stevenson LLC

Interest. Offshore Group Investment LimitedAngiotech Pharmaceuticals, Inc., a Cayman Islands exempted company corporation organized under the Laws of British Columbia (the “Company”), promises to pay interest on the principal amount of this Note at a rate per annum annum, reset quarterly, equal to LIBOR plus 3.75%, as set forth determined by the Calculation Agent, until maturity and shall pay the Additional Interest, if any, payable pursuant to Section 6 of the Registration Rights Agreement referred to below, from the Issue Date until maturity. The Company will pay interest semi-annually and Additional Interest, if any, quarterly in arrears on each March 1, June 30 1, September 1, and December 31 1, of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business DayDay (each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , 20 . The Company amount of interest for each day that the Notes are outstanding (the “Daily Interest Amount”) will pay be calculated by dividing the interest rate in effect for such day by 360 and multiplying the result by the principal amount of the Notes outstanding on such day. The amount of interest to be paid on the Notes for each Interest Period will be calculated by adding the Daily Interest Amounts for each day in the Interest Period. For the purposes of the Interest Act (Canada), the yearly rate of interest, to which interest calculated on the basis of a year of 360 days is equivalent, is the rate of interest payable under the Notes multiplied by the number of days in the year divided by 360. All percentages resulting from any of the above calculations will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a percentage point being rounded upwards (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or ..0987655)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application, or the maximum rate permitted by Canadian law. The Calculation Agent will, upon request of any Holder of Notes, provide the interest rate then in effect with respect to the Notes. All calculations made by the Calculation Agent in the absence of manifest error will be conclusive for all purposes and binding on the Company, the Guarantors and the Holders of the Notes. Interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium)principal and interest and Additional Interest, if any, and interest (without regard to any applicable grace period), from time to time on demand will accrue at a rate equal to that is 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Daily Interest will be Amount (computed on the basis of a 360-day year comprised of twelve 30-day months. The ) and the Company will notify the Trustee in writing of the amount pay interest on overdue installments of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest at such higher rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, and on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indentureextent lawful.

Appears in 1 contract

Samples: Indenture (Surgical Specialties UK Holdings LTD)

Interest. Offshore Group Investment LimitedBLUE OCEAN RESOURCES PTE. LTD., a Cayman Islands exempted company corporation organized under the laws of Republic of Singapore (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “CompanyIssuer”), promises to pay interest on the principal amount of this Note at a rate per annum as set forth below, from equal to the Issue Date until maturityNote Interest Rate applicable to the Interest Period ending on each Interest Payment Date. The Company Issuer will pay interest semi-annually in arrears semiannually on June 30 and December 31 of each year, commencing on June 30, 2016, or if any such day is not a Business Day, on the next succeeding Business Day2013. Except as otherwise provided in Sections 2.11 and 2.14 of the Indenture, interest Interest on the Notes will accrue from the most recent Interest Payment Date date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interestJanuary 1, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium (including the Applicable Premium), if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful2013. Interest will shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify Issuer shall pay interest on overdue principal at the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. All references to “interest” shall mean the initial interest rate borne by the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interestone percent (1%) per annum, the Company and it shall pay Default Interest, if any, in the same manner as other interest, and interest on the same dates as set forth in the Notes and in the Indenture dated as overdue installments of [●], 2016 (the “Indenture”) among the Company, the Guarantors, the Trustee and the Noteholder Collateral Agent. Interest on this Note will accrue interest at the rate of 1% per annum prior borne by the Notes to the fourth anniversary extent lawful. In the event that Actual Consolidated EBITDA for any Relevant Interest Period is less than Projected Consolidated EBITDA for such Relevant Interest Period, the Issuer will have the option to defer payment of a portion of the Issue interest that falls due for payment on the Interest Payment Date (through (and including) the sixth Interest Payment Date) falling immediately after such Relevant Interest Period. From and after The amount of interest that may be deferred by the fourth anniversary Issuer will not exceed fifty percent (50%) of the Issue Date, total amount of interest payable in respect of the Relevant Interest Period. Deferred interest will be capitalized and added to the principal amount of the Notes on this Note will a pro rata basis and thereafter accrue interest at the rate applicable to the principal amount of 12% per annumthe Notes. All Deferred interest payments (other than at that is capitalized and added to the Maturity Date, or as provided in this Note) principal amount of the Notes will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares paid in accordance with Article 13 prior to the Maturity Date, the final interest payment cash on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the Indenturematurity.

Appears in 1 contract

Samples: Indenture (PT Centralpertiwi Bahari)

Interest. Offshore Group Investment Limited, a Cayman Islands exempted company The Xxxxxxx Xxxxxx Corporation (the “CompanyIssuer), ) promises to pay interest on the principal amount of this Note during the 2029 Notes Fixed Rate Period at a the annual rate per annum as set forth below, from of 5.643%. Interest on the Issue Date until maturity. The Company Notes will pay interest be payable semi-annually in arrears on June 30 May 19 and December 31 November 19 of each yearyear (each, commencing a “Fixed Rate Interest Payment Date”), with the first interest payment on June 30November 19, 20162023 and the final fixed rate payment on May 19, or if any such day is not 2028 (the “2029 Notes Fixed Rate Period”). During each 2029 Notes Floating Rate Period interest period, the Issuer promises to pay interest at a Business Dayrate per annum equal to compounded SOFR plus 2.210%, all as determined by the Calculation Agent as provided for in the Indenture (as defined below). Interest on the next succeeding Business DayNotes will be payable quarterly in arrears on August 19, 2028, November 19, 2028, and May 19, 2029 during the floating rate period (the “2029 Notes Floating Rate Period”); provided that the final interest payment will be made on the 2029 Notes Stated Maturity Date (each, a “Floating Rate Interest Payment Date” and together with the Fixed Rate Interest Payment Dates, each, an “Interest Payment Date”). Except as otherwise provided in Sections 2.11 and 2.14 of With respect to the Indenture2029 Notes Fixed Rate Period, interest on the 2029 Notes will accrue from and including the original issue date or the most recent date to which interest has been paid or duly provided for. With respect to the 2029 Notes Floating Rate Period, the term “interest period” means the period commencing on any interest payment date during the 2029 Notes Floating Rate Period (or, with respect to the initial interest period, commencing on May 19, 2028 (the “2029 Notes Interest Payment Date Reset Date”)) to, but excluding, the next succeeding interest payment date in the 2029 Notes Floating Rate Period, and in the case of the last such period, from and including the interest payment date immediately preceding the maturity date for such series to but excluding such maturity date. If an interest payment date falls on a day that is not a business day, the Issuer will postpone the interest payment to the next succeeding business day, but the payment made on such date will be treated as being made on the date that the payment was first due and the holders of the Notes will not be entitled to any further interest or other payments with respect to such postponement. The Issuer will pay interest to the person in whose name the Note is registered at the close of business on the fifteenth calendar day (whether or not a business day) immediately preceding the related interest payment date, except that the Issuer will pay interest on the respective maturity dates or, if no the Notes are redeemed, the respective redemption date, to the person or persons to whom principal is payable. The amount of accrued interest has been paid, from payable on the date Notes for each 2029 Notes Floating Rate Interest Period will be computed by multiplying (i) the outstanding principal amount of issuance; provided that if there is no existing Default the applicable series of Notes by (ii) the product of (a) the interest rate for the relevant 2029 Notes Floating Rate Period interest period multiplied by (b) the quotient of the actual number of calendar days in the payment of interest, and if this Note is authenticated between a Record Date referred to applicable Floating Rate Period interest period (or any other relevant period) divided by 360. The interest rate on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment DateNotes will in no event be lower than zero. The Company will Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium principal from time to time on demand by the Trustee pursuant to Section 5.3 of the Base Indenture (including defined below) at the Applicable Premium), if any, rate borne by the Notes and on overdue installments of interest (without regard to any applicable grace period), from time periods) to time the extent lawful. The amount of accrued interest payable on demand at a rate equal to 1% per annum in excess the Notes for the 2029 Notes Floating Rate Period will be computed by multiplying (i) the outstanding principal amount of the then Notes by (ii) the product of (a) the interest rate for the relevant 2029 Floating Rate Period interest period multiplied by (b) the quotient of the actual number of calendar days in the applicable 2029 Floating Rate Period interest period (or any other relevant period) divided by 360. The interest rate on the Notes to the extent lawful. Interest will in no event be computed on the basis of a 360-day year comprised of twelve 30-day monthslower than zero. The Company will notify the Trustee in writing of the interest rate and amount of interest proposed to be paid on the Notes for each Note and 2029 Notes Floating Rate Interest Period will be determined by the date Calculation Agent on the applicable Interest Payment Determination Date using compounded SOFR with respect to the applicable Observation Period relating to the applicable 2029 Notes Floating Rate Interest Period. The Calculation Agent will then add the spread of 2.210% per annum to compounded SOFR as determined on the Interest Payment Determination Date. Absent manifest error, the Calculation Agent’s determination of the proposed payment. All references to “interest” shall mean the initial interest rate borne by for an interest period for the Notes plus any Default Interest. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, if any, in the same manner as other interest, will be binding and conclusive on the same dates as set forth in the Notes and in the Indenture dated as of [●], 2016 (the “Indenture”) among the Company, the GuarantorsHolders, the Trustee and the Noteholder Collateral Paying Agent. Interest on this Note will accrue at the rate of 1% per annum prior to the fourth anniversary of the Issue Date. From and after the fourth anniversary of the Issue Date, interest on this Note will accrue at the rate of 12% per annum. All interest payments (other than at the Maturity Date, or as provided in this Note) will be made as PIK Interest; provided, that, for any Notes that have not been converted into Common Shares in accordance with Article 13 prior to the Maturity Date, the final interest payment on the Maturity Date shall be made in cash. All interest accruals and interest payments on this Note shall be calculated and payable only in accordance with the methodology specified in Section 4.01 of the Indenture and no other, notwithstanding anything in this Note or the Indenture to the contrary, and are subject to rounding and other adjustments in accordance with, inter alia, Sections 2.01 and 2.14 of the IndentureIssuer.

Appears in 1 contract

Samples: Schwab Charles Corp

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