MANDATORY REDEMPTION IN PART FROM MORTGAGE PRINCIPAL REPAYMENTS Sample Clauses

MANDATORY REDEMPTION IN PART FROM MORTGAGE PRINCIPAL REPAYMENTS. The US$ Notes are subject to mandatory redemption in part on any Payment Date if on that date there are any Mortgage Principal Repayments, (subject to the Prescribed Minimum Level) Liquid Authorised Investments and the Recovery Amount available to be distributed in relation to such US$ Notes (as detailed in Condition 5(b)). The principal amount so redeemable in respect of each US$ Note prior to enforcement of the Security Trust Deed (each a PRINCIPAL PAYMENT) on any Payment Date is subject to the priorities set -------------------------------------------------------------------------------- Page 81 Note Trust Xxxx Xxxxxx Xxxxxx Xxxxxxxx -------------------------------------------------------------------------------- out in Condition 5(b) and will be the amount available for payment as set out in Condition 5(b) on the day which is 4 Business Days before the Payment Date divided by the number of US$ Notes in that Class which are then outstanding (rounded down to the nearest cent), provided always that no Principal Payment on a US$ Note on any date may exceed the amount equal to the Principal Amount of that US$ Note at that date. The amount of mandatory principal redemptions after enforcement of the Security Trust Deed is subject to the priority of payments set out in the Security Trust Deed. Notice of amounts to be redeemed will be provided by the Trust Manager to the Issuer, the Calculation Agent, the Principal Paying Agent, each Currency Swap Provider and the Note Trustee.
Sample 1
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MANDATORY REDEMPTION IN PART FROM MORTGAGE PRINCIPAL REPAYMENTS. The Class A Notes are subject to mandatory redemption in part on any Payment Date if on that date there are any Mortgage Principal Repayments, (subject to the Prescribed Minimum Level) Liquid Authorised Investments and the Recovery Amount available to be distributed in relation to such Class A Notes (as detailed in Condition 5(b)). The principal amount so redeemable in respect of each Class A Note prior to enforcement of the Security Trust Deed (each a PRINCIPAL PAYMENT) on any Payment Date is subject to the priorities set out in Condition 5(b) and will be the amount available for payment as set out in Condition 5(b) on the day which is 4 Business Days before the Payment Date divided by the number of Class A Notes in that Class which are then outstanding (rounded down to the nearest cent), provided always that no Principal Payment on a Class A Note on any date may exceed the amount equal to the Principal Amount of that Class A Note at that date. The amount of mandatory principal redemptions after enforcement of the Security Trust Deed is subject to the priority of payments set out in the Security Trust Deed. Notice of amounts to be redeemed will be provided by the Trust Manager to the Issuer, the Calculation Agent, the Principal Paying Agent, the Class A Currency Swap Provider and the Note Trustee.
Sample 1

Related to MANDATORY REDEMPTION IN PART FROM MORTGAGE PRINCIPAL REPAYMENTS

  • Mandatory Redemption The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.

  • Special Mandatory Redemption If the Canopy Investment is not consummated on or prior to April 1, 2019 or prior to such date the Purchase Agreement is terminated without the completion of the Canopy Investment (either of the foregoing, a “Special Mandatory Redemption Event”), the Company will be required to redeem the Notes on the Special Mandatory Redemption Date at a price (the “Special Mandatory Redemption Price”) equal to 101% of the principal amount of the Notes, together with accrued and unpaid interest to, but excluding, the Special Mandatory Redemption Date. On the Business Day following the occurrence of a Special Mandatory Redemption Event, the Company (or the Trustee upon the prior written direction from the Company and at the sole cost and expense of the Company) shall deliver a notice of special mandatory redemption in accordance with the applicable procedures of DTC to each Holder of Notes stating that the entire principal amount outstanding of the Notes shall be redeemed at the Special Mandatory Redemption Price on the Special Mandatory Redemption Date specified therein automatically and without any further action by the Holders of the Notes. Prior to the opening of business on the Special Mandatory Redemption Date, the Company shall deposit with the Paying Agent, or the Trustee, cash in an aggregate amount equal to the Special Mandatory Redemption Price for the Notes, calculated as of the Special Mandatory Redemption Date. If funds sufficient to pay the Special Mandatory Redemption Price with respect to the Notes on the Special Mandatory Redemption Date are deposited with the Trustee or a Paying Agent prior to the opening of business on the Special Mandatory Redemption Date, then, on and after the Special Mandatory Redemption Date, the Notes will cease to bear interest. Notwithstanding the foregoing, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or prior to the Special Mandatory Redemption Date will be payable on such Interest Payment Dates to the registered Holders as of the close of business on the relevant record dates according to the terms and provisions of Section 2.3. Upon the consummation of the Canopy Investment, this Section 2.10 will cease to apply. The provisions of Sections 5.2, 5.3 and 5.6 of the Initial Indenture shall not be applicable to any special mandatory redemption of the Notes.

  • Mandatory Redemptions (a) The Sponsor may mandatorily redeem part or all of the Units held by a particular Investor if the Sponsor determines that: (i) such Investor’s continued holding of Units could result in adverse consequences to this FuturesAccess Fund; (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of FuturesAccess and/or HedgeAccess; (iii) such Investor’s investment in the Units, or aggregate investment in FuturesAccess, is below the minimum level established by the Sponsor (including any increase in such minimum level that the Sponsor may implement in the future); (iv) such Investor holds Class M Units and is no longer eligible to hold such Units; or (v) for any other reason.

  • Mandatory Redemption at Subscriber’s Election In the event the Company is prohibited from issuing Conversion Shares, or fails to timely deliver Shares on a Delivery Date, or upon the occurrence of any other Event of Default (as defined in this Note or in the Subscription Agreement) or for any reason other than pursuant to the limitations set forth in Section 2.3 hereof, then at the Subscriber's election, the Company must pay to the Subscriber ten (10) business days after request by the Subscriber, at the Subscriber's election, a sum of money in immediately available terms equal to the greater of (i) the product of the outstanding principal amount of the Note designated by the Subscriber multiplied by 120%, or (ii) the product of the number of Conversion Shares otherwise deliverable upon conversion of an amount of Note principal and/or interest designated by the Subscriber (with the date of giving of such designation being a “Deemed Conversion Date”) at the then Conversion Price that would be in effect on the Deemed Conversion Date multiplied by the average of the closing bid prices for the Common Stock for the five consecutive trading days preceding either: (1) the date the Company becomes obligated to pay the Mandatory Redemption Payment, or (2) the date on which the Mandatory Redemption Payment is made in full, whichever is greater, together with accrued but unpaid interest thereon and any liquidated damages then payable (“Mandatory Redemption Payment”). The Mandatory Redemption Payment must be received by the Subscriber on the same date as the Company Shares otherwise deliverable or within ten (10) business days after request, whichever is sooner (“Mandatory Redemption Payment Date”). Upon receipt of the Mandatory Redemption Payment, the corresponding Note principal and interest will be deemed paid and no longer outstanding. Liquidated damages calculated pursuant to Section 2.5(c) hereof, that have been paid or accrued for the twenty (20) day period prior to the actual receipt of the Mandatory Redemption Payment by the Subscriber shall be credited against the Mandatory Redemption Payment.

  • No Mandatory Redemption The Company shall not be required to make mandatory redemption payments with respect to the Securities.

  • Principal Repayment Series 2018-C [Insert columns for other Series]

  • Redemption and Repurchase; Discharge Prior to Redemption or Maturity This Note is subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to this Note. If the Company deposits with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture.

  • Mandatory Repayment The aggregate principal amount ------------------- of the Revolving Loans outstanding on the Maturity Date, together with accrued interest thereon, shall be due and payable in full on the Maturity Date. If at any time the aggregate outstanding Borrowings exceed the Revolving Commitment then in effect, the Borrower shall immediately repay the excess to the Bank without penalty or premium.

  • Mandatory Redemption; Open Market Purchases The Issuer shall not be required to make any mandatory redemption or sinking fund payments with respect to the Notes. The Issuer, the Investors and their respective Affiliates may, at their discretion, at any time and from time to time, acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or otherwise.

  • Mandatory Repurchase 19 SECTION 6.2.

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