MANDATORY REDEMPTION OF AUCTION RATE NOTES Sample Clauses

MANDATORY REDEMPTION OF AUCTION RATE NOTES. (i) Subject to the provisions of subsection (k) of this Section, the Class A-5a Notes (but only if the Class A-5a Notes have been reset to bear interest at an Auction Rate pursuant to Section 2.01(f) of Appendix A hereto) are subject to mandatory redemption, in whole or in part, from amounts on deposit in the Class A-5a Redemption Account of the Note Payment Fund for such purpose, the Class A-5b Notes are subject to mandatory redemption, in whole or in part, from amounts on deposit in the Class A-5b Redemption Account of the Note Payment Fund for such purpose, the Class A-5c Notes are subject to mandatory redemption, in whole or in part, from amounts on deposit in the Class A-5c Redemption Account of the Note Payment Fund for such purpose, the Class B-1 Notes are subject to mandatory redemption, in whole or in part, from amounts on deposit in the Class B Redemption Account of the Note Payment Fund for such purpose and the Class B-2 Notes are subject to mandatory redemption, in whole or in part, from amounts on deposit in the Class B Redemption Account of the Note Payment Fund for such purpose, on any Auction Rate Distribution Date for such Class of the Auction Rate Notes and for which notice can be given pursuant to subsection (h) of this Section, each at a redemption price equal to the principal balance being redeemed plus accrued interest, if any (but not including any Auction Rate Notes Carry-over Amounts, if any, except to the extent such Auction Rate Notes Carry-over Amounts is payable on such Auction Rate Distribution Date pursuant to Section 5.05(c) hereof), to such Auction Rate Distribution Date from amounts transferred to the Class A-5a Redemption Account (but only if the Class A-5a Notes have been reset to bear interest at an Auction Rate pursuant to Section 2.01(f) of Appendix A hereto), the Class A-5b Redemption Account, the Class A-5c Redemption Account and the Class B Redemption Account of the Note Payment Fund, as appropriate, representing Recoveries of Principal (other than Recoveries of Principal as a result of the voluntary sale of Financed Eligible Loans) or representing amounts transferred from the Collection Fund pursuant to Section 5.05(c)(xix) hereof. Recoveries of Principal generated as a result of the voluntary sale of Financed Eligible Loans shall be used to redeem Auction Rate Notes pursuant to subsection (d) of this Section. Redemptions of the Auction Rate Notes which constitute Class A Notes made pursuant to this subsection (g)...
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to MANDATORY REDEMPTION OF AUCTION RATE NOTES

  • Mandatory Redemption The Company is not required to make mandatory redemption or sinking fund payments with respect to 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 Redemptions of Equipment Notes On the date on which the Owner is required pursuant to Section 4.05 hereof to make payment for an Event of Loss with respect to the Airframe, all of the Equipment Notes shall be redeemed in whole at a redemption price equal to 100% of the unpaid Original Amount thereof, together with all accrued interest thereon to the date of redemption and all other Secured Obligations (other than Related Secured Obligations) owed or then due and payable to the Note Holders but without Make-Whole Amount.

  • 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.

  • Payment of Notes Called for Redemption (a) If any Redemption Notice has been given in respect of the Notes in accordance with Section 16.02, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price.

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

  • Fixed Rate Notes If this Note is specified on the face hereof as a “Fixed Rate Note”:

  • 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.

  • Floating Rate Notes If this Note is specified on the face hereof as a “Floating Rate Note”:

  • Optional Redemption of Notes Prior to the Par Call Date, the Company may redeem the Notes at its option, in whole or in part, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) (the “Redemption Price”) equal to the greater of (i) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to but excluding the Redemption Date; and (ii) 100% of the principal amount of the Notes; plus, in either case, accrued and unpaid interest thereon to the Redemption Date. Notwithstanding the foregoing, if the Notes are redeemed on or after the Par Call Date, the Company may redeem the Notes, in whole or in part, at any time or from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the Redemption Date. Notwithstanding the foregoing, if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Company will pay the full amount of accrued and unpaid interest, if any, on such Interest Payment Date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). The Company shall not redeem the Notes pursuant to this Section 4.1 if on any date the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded or cured on or prior to such date. The Company’s actions and determinations in determining the Redemption Price shall be conclusive and binding for all purposes, absent manifest error.

Time is Money Join Law Insider Premium to draft better contracts faster.