Maturity and Redemption Clause Samples
The Maturity and Redemption clause defines when and how a financial instrument, such as a bond or note, must be repaid by the issuer to the holder. It specifies the maturity date—the point at which the principal becomes due—and outlines the procedures for redeeming the instrument, which may include scheduled payments or options for early redemption under certain conditions. This clause ensures both parties understand the timeline and process for repayment, thereby providing certainty and reducing the risk of disputes regarding the end of the investment term.
Maturity and Redemption. For each year for which Operating Earnings or Cumulative Operating Earnings equal or exceed the applicable Minimum Target, the Appropriate Principal Amount of the Contingent Note, together with interest accrued on such Appropriate Principal Amount, shall become due and payable and shall be paid as provided in subparagraph (a) above and (g) below. If, in the judgment of a majority of the full Board of Directors of AmeriPath (which judgment is made based upon the written advice of independent counsel), it is determined that the Contingent Note, or the holding of the Contingent Note by the Seller, may violate any Regulation or Order of any Authority (as such terms are defined in Section 12.3), then, at AmeriPath's sole discretion (as recommended by such counsel), the Contingent Note may be canceled and voided and the Board of Directors of AmeriPath, acting in good faith, shall provide the Seller a reasonably equivalent economic and financial substitute consideration therefor.
Maturity and Redemption. (a) Subject to the other provisions of these Terms and Conditions, the Bonds shall have a maximum duration which shall not exceed the Final Maturity Date, and shall be redeemed in full on the Effective Maturity Date (or, if the Effective Maturity Date is not a Business Day, on the next following Business Day).
(b) On the Effective Maturity Date, the Issuer shall redeem each Bond in cash by paying to each Bondholder an amount equal to the Current Nominal Value multiplied by the number of Bonds held by that Bondholder on that date. Such payment shall be made by wire transfer to the credit of the relevant Euro Account and with value date on the Effective Maturity Date.
(c) Any Bond redeemed in accordance with paragraph (b) above will be automatically cancelled.
Maturity and Redemption. (a) The Bonds shall reach maturity by June 8, 2006 (the "Final Maturity Date"). Unless otherwise provided for in these Terms of the Bonds, the Issuer agrees to redeem the outstanding Bonds at 105% of their par value (the "Redemption Price") on the Final Maturity Date.
(b) The Issuer and the Guarantor may at any time purchase Bonds in the market for any purpose (including cancellation).
(c) The Issuer shall be entitled to redeem the outstanding Bonds at the Accreted Redemption Price (as defined below) on the following Interest Payment Date if and as soon as Bonds representing more than 95% of the aggregate principal amount have been converted. If the Issuer elects to exercise its early redemption right hereunder, it shall give, as soon as practicable, notice pursuant to Section 14 at least 60 days prior to the redemption date.
(d) Furthermore, the Issuer shall have the right at any time to redeem the outstanding Bonds at the Accreted Redemption Price plus accrued interest if the closing prices of the Registered Shares (as defined below) on the SWX Swiss Exchange reach or exceed, on 20 consecutive Trading Days (as defined below), 150% of the then prevailing Conversion Price (as defined in Sections 7.5 to 7.7 below). If the Issuer elects to exercise its early redemption right hereunder, it shall give, as soon as practicable, notice pursuant to Section 14 at least 60 days prior to the redemption date. The Issuer must give notice within ten Business Days after expiry of the stipulated period of time and shall inform CSFB of this accordingly by telefax (confirmed in writing, sent by registered airmail).
Maturity and Redemption. One year from the date the relevant Bonds have been issued and registered, or such other date as the Company and the Subscriber may agree in writing (“First Maturity Date”), provided always that the Subscriber shall have the sole and absolute discretion to extend the redemption date for a further twelve (12) months from the expiry of the First Maturity Date. The Bond may not be redeemed by the Company, in whole or in part, prior to the First Maturity Date other than in accordance with Condition 10 of the Agreement (in relation to the maturity and redemption of the Bond) (but without prejudice to Condition 12 of the Agreement (in relation to events of default)). The Bonds shall be redeemed at one hundred per cent (100%) of their principal amount, together with any unpaid interest accrued thereon (“Redemption Amount”). Following the occurrence of a Relevant Event (as defined below), the Subscriber will have the right, at the Subscriber’s option, to require the Company to redeem all or some only of the Subscriber’s Bonds on the Relevent Event redemption date (as defined below) at the Redemption Amount, together with such interest accrued or to be accrued as computed in accordance with the terms and condition of the Agreement. A “Relevant Event” occurs:
(i) when the Shares ceased to be listed or admitted to trading or suspended for a period equal to or exceeding twenty (20) Trading Days on the SGX-ST. Trading Day shall mean a day ending 5.00pm (Singapore time), on which the SGX-ST Is open for trading in Singapore; or
(ii) when there is a change in control. For the purpose of this condition, “Control” means the acquisition or control of more than twenty per cent (20%) of the voting rights of the issued share capital of the Company at any given time or the right to appoint and/or remove all or the majority of the members of the Company’s board of directors or other governing body, whether obtained directly or indirectly, and whether obtained by ownership of share capital, the possession of voting rights, contract or otherwise. All Bonds which are redeemed or converted will forthwith be cancelled by the Company and may not be reissued or resold.
Maturity and Redemption