Mandatory Partial Redemption. Each Senior Note shall be redeemed in part on each October 1 (so long as there are Senior Notes outstanding) by payment of one percent of the principal amount thereof outstanding on such Redemption Date, in each case together with accrued and unpaid interest thereon to such Redemption Date.
Mandatory Partial Redemption. Subject to the terms of Section 3.8 of the Indenture, the Company will redeem in part each Senior Note outstanding on each October 1, by payment of 1% of the principal amount thereof outstanding on such Redemption Date, together with accrued and unpaid interest thereon to such Redemption Date.
Mandatory Partial Redemption. The Term 2022 Bonds maturing on September 1, 20 are subject to mandatory partial redemption in part by lot, from payments made by the City from the Bond Fund, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the redemption date, without premium, in the aggregate respective principal amounts all as set forth in the following table: Mandatory Partial Redemption Date (September 1) Principal Amount Subject to Redemption The Term 2022 Bonds maturing on September 1, 20 are subject to mandatory partial redemption in part by lot, from payments made by the City from the Bond Fund, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the redemption date, without premium, in the aggregate respective principal amounts all as set forth in the following table: Mandatory Partial Redemption Date (September 1) Principal Amount Subject to Redemption Provided, however, if some but not all of the Term 2022 Bonds have been redeemed under subsection (i) or (ii) above, the total amount of all future Mandatory Partial Redemptions shall be reduced by the aggregate principal amount of Term 2022 Bonds so redeemed, to be allocated among such Mandatory Partial Redemption Dates on a pro rata basis in integral multiples of $5,000 as determined by or on behalf of the City, notice of which determination (which shall consist of a revised mandatory partial redemption schedule) shall be given by the City to the Fiscal Agent.
Mandatory Partial Redemption. On the AHYDO redemption date, if any Securities would otherwise constitute “applicable high yield discount obligations” within the meaning of Section 163(i)(l) of the Code, the Company will be required to redeem for cash a portion of each Security then outstanding equal to the Mandatory Principal Redemption Amount. The redemption price for the portion of each Security redeemed pursuant to a Mandatory Principal Redemption will be 100% of the principal amount of such portion plus any accrued interest thereon on the date of redemption. No partial redemption or repurchase of the Securities prior to the AHYDO redemption date pursuant to any other provision of this Indenture will alter the Company’s obligation to make the Mandatory Principal Redemption with respect to any Securities that remain outstanding on the AHYDO redemption date. No partial redemption or repurchase of the Securities prior to the AHYDO redemption date pursuant to any other provision of this Indenture will alter our obligation to make this redemption with respect to any Securities that remain outstanding on the AHYDO redemption date. For the avoidance of doubt, the Mandatory Principal Redemption Amount shall be determined by the Company and provided to the Trustee in the form of an Officer’s Certificate on which the Trustee may conclusively rely.
Mandatory Partial Redemption. (a) On May 22, 2008 and each Interest Payment Date thereafter, excluding the Interest Payment Date that falls on the final Maturity of this Note, the Company shall redeem a principal amount of the outstanding Notes on such date on a pro rata basis at a redemption price of 100% of the principal amount of the Notes so redeemed (the amount paid in order to redeem such Notes on any such date, the "PIK Redemption Amount" for such date), such that the sum of the PIK Redemption Amount plus cash interest to be paid on such date with respect to all outstanding Notes equals the AHYDO Amount. The "AHYDO Amount" for any such Interest Payment Date will equal the excess of (i) the aggregate amount includible in gross income with respect to the Notes (i.e., the amount of interest, including original issue discount accrued with respect to the Notes) from the date of issuance of the Notes through and including each accrual period of the Notes ending after the fifth anniversary of the issuance of the Notes (each, an "Accrual Period"), determined as set forth in Section 163(i)(2)(A) of the Code, over (ii) the sum of (A) the product of the issue price of the Notes and their annual yield to maturity determined as set forth in Section 163(i)(2)(B)(ii) of the Code plus (B) the aggregate amount of cash interest payments and PIK Redemption Amounts paid on the Notes before the close of each such Accrual Period (excluding the PIK Redemption Amount and current interest payable on such Interest Payment Date), determined as set forth in Section 163(i)(2)(B)(i) of the Code. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Noteholder of Notes to be redeemed.
Mandatory Partial Redemption. (a) The Issuer shall ensure that upon a Permitted Partial Divestment, the net proceeds from such divestment (less the Partial Divestment Profit Amount) (the "Prepayment Amount") are transferred to the Deposit Account. When the Prepayment Amount has been transferred to the Deposit Account, the Agent shall, where applicable, release the security interest over the divested Property. The Prepayment Amount shall remain on the Deposit Account until either (i) the Issuer utilizes the Prepayment Amount for property acquisitions by delivering to the Agent a Compliance Certificate confirming that all conditions precedents for Replacement Properties set out in paragraph (b) below have been fulfilled or will, immediately in connection with the transfer of the relevant Prepayment Amount from the Deposit Account, be fulfilled, or (ii) the Agent instructs the Bank to transfer such amount for the purpose of partial prepayment of the Bonds in accordance with below.
Mandatory Partial Redemption. (a) If an Event of Default described in Section 6.1(b) or (c) shall occur and be continuing that specifically relates to and materially and adversely affects the collection of the payments when due on one or more specific Pledged Contract Receivables or Contracts related thereto (an "AFFECTED PLEDGED CONTRACT RECEIVABLE"), and such breach continues or is not cured within the period described in Section 6.1(b) or (c), as the case may be, then, subject to the provisions of Sections 6.2(d) and 6.2(e), the remedy for such Event of Default shall be limited to that set forth in this Section 11.3, PROVIDED that the Issuer performs its obligations pursuant to this Section 11.3. Following such Event of Default, upon the request of the Indenture Trustee or the Majority Noteholders, the Issuer shall call for redemption, within 10 days of such request, Notes in an aggregate principal amount equal to the product of (1) the aggregate principal amount of the Notes Outstanding on such date, and (2) a fraction the numerator of which is the sum of the remaining scheduled payments to be made under the Affected Pledged Contract Receivable and the denominator of which is the sum of the remaining scheduled payments to be made under all outstanding Pledged Contract Receivables, including such Affected Pledged Contract Receivable (such amount, the "MANDATORY PARTIAL REDEMPTION AMOUNT"), at a redemption price equal to the Mandatory Partial Redemption Amount, plus accrued and unpaid interest, if any, on the Notes to be redeemed to the date of redemption; provided, however, that if any such Event of Default was the result of an action taken by the Issuer that was intended by the Issuer to cause an acceleration of the Notes (with the Issuer being presumed for the purposes of this Section 11.3(a) to have intended any action that was reasonably within the ability or control of any FRGC Party to avoid or prevent), then the redemption price shall include the Basic Make-Whole Premium.
Mandatory Partial Redemption. On July 1, 2010, if any notes are outstanding, the Company will be required to redeem, at a redemption price of 100% of the principal amount of the notes so redeemed, a principal amount of notes (the "MANDATORY PRINCIPAL REDEMPTION AMOUNT") sufficient to ensure that the notes are not treated under the Code as "Applicable High Yield Discount Obligations" for the ongoing deductibility of interest by the Company. The Mandatory Principal Redemption Amount will be calculated as (i) the excess of the aggregate principal amount of all notes outstanding on July 1, 2010, over the original principal amount of notes issued on the Issue Date, less (ii) an amount equal to one year's simple uncompounded interest on the aggregate original principal amount of notes issued on the Issue Date. The Mandatory Principal Redemption Amount will be applied as a partial redemption of each note outstanding.
Mandatory Partial Redemption. There shall be called for redemption on December 1 of each year from December 1, 1990 to and including December 1, 1998, the following principal amounts of Bonds chosen in such manner as the Trustee shall determine (subject to Section 8.08 hereof) at the principal amount thereof plus accrued interest: Year Amount Year Amount ---- ------ ---- ------ (December 1) (December 1) 1990 $250,000 1994 $250,000 1991 250,000 1995 250,000 1992 250,000 1996 250,000 1993 250,000 1997 250,000 1998 250,000 At its option, to be exercised on or before the 45th day prior to each of the mandatory redemption dates set forth in this Section 8.04, the Authority, through (or at the direction of) the Company, may do any one or more of the following: (a) deliver to the Trustee for cancellation Bonds or (b) receive a credit in respect of its mandatory partial redemption obligation for any Bonds which prior to said date have been redeemed or purchased (otherwise than through the operation of such mandatory partial redemption) and cancelled by the Trustee and not theretofore applied as a credit against such mandatory partial redemption obligations. Each Bond so delivered, redeemed or purchased in accordance with clauses (a) or (b) of this Section 8.04 shall be credited by the Trustee at 100% of the principal amount thereof to the obligation of the Authority with respect to the Mandatory Redemption Account; any excess over such amount shall be credited to such future obligations with respect to the Mandatory Redemption Account in accordance with the instructions of the Company. The Authority, through (or at the direction of) the Company, will, on or before the 45th day next preceding each mandatory partial redemption date, furnish the Trustee with its certificate indicating to what extent, if any, the provisions of clauses (a) or (b) of this paragraph are to be availed of with respect to each such mandatory partial redemption payment.
Mandatory Partial Redemption. Subject to the provisions of the Escrow Agreement and the Purchase Agreement, including, without limitation the right of the Company to reduce or offset the Preferred Membership Interests to satisfy indemnification obligations of GDREC and HCI under the Purchase Agreement and the Real Property Purchase Agreement, at any time on or prior to the eighteenth month anniversary of the Purchase Agreement Closing Date (the "Redemption Date"), the Company shall purchase and redeem a portion of the Preferred Membership Interests in an original face amount of $3,000,000, less any applicable reductions or offsets (the "Minimum Partial Redemption") at a purchase price (the "Mandatory Redemption Purchase Price") equal to the face amount of the Preferred Membership Interests to be redeemed, less any applicable reductions or offsets, plus all accrued and unpaid Preferred Distributions in respect of such redeemed Preferred Membership Interests through, but not including, the Redemption Date. All Preferred Membership Interests redeemed pursuant to this Section 9.1 shall be permanently retired.
