Optional Prepayment by Company. In addition to all other rights of the Company contained herein, at any time after three (3) months from the Issuance Date, the Company shall have the right, solely at the Company’s option, to prepay in cash (the “Optional Prepayment”) at a price equal to one hundred ten percent (110%) of the aggregate principal amount of this Note plus all accrued and unpaid Interest, if any, thereon to the date of such Optional Prepayment (the “Optional Company Prepayment Price”) by providing written notice of at least thirty (30) calendar days prior to the consummation of the Optional Prepayment via facsimile and overnight courier (“Notice of Optional Prepayment”) to the Holder of this Note and the Other Holders. The Company may pay, upon an Optional Prepayment, all accrued and unpaid Interest, if any, by issuing the Holders additional Notes with a principal amount equal to the Interest then due and payable (a “PIK Note”). The Company shall deliver the applicable Optional Company Prepayment Price to the Holder, within five (5) business days after the date specified in the Notice of Optional Prepayment for the Optional Prepayment. If the Company shall fail to prepay the Notes (other than pursuant to a dispute as to the arithmetic calculation of the Optional Company Prepayment Price), in addition to any remedy such Holder of the Notes may have under this Note and the Purchase Agreement, the Optional Company Prepayment Price payable in respect of such Notes not prepaid shall bear interest at the Default Rate until paid in full.
Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after February 1, 2007, at the optional prepayment price equal to the outstanding principal amount of the Securities to be prepaid, plus accrued and unpaid interest thereon (including Compounded Interest and Additional Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price"). If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities to be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to Securities registered as a Global Security at the time of prepayment, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner of such Securities to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or at such earlier time as the Company determines, provided, that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.
(b) Notwithstanding the first sentence of Section 14.02(a), upon the entry of an order for dissolution of Trenwick Capital Trust I by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but
Optional Prepayment by Company. (a) Subject to the provisions of this Article III, the Company shall have the right to prepay the Debentures, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date, at the Prepayment Price. If the Debentures are only partially prepaid pursuant to this Section 3.2, the Debentures to be prepaid shall be selected on a pro rata basis not more than 60 days prior to the date fixed for prepayment from the outstanding Debentures not previously called for prepayment, provided, however, that any such proration may be made on the basis of the aggregate principal amount of Debentures held by each Holder and may be made by making such adjustments as the Company deems fair and appropriate in order that only Debentures in denominations of $25 or integral multiples thereof shall be prepaid. The Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided further that the Company shall deposit with the Trustee an amount sufficient to pay the Prepayment Price by 10:00 a.m., New York City time, on the date such Prepayment Price is to be paid.
(b) Notwithstanding the first sentence of Section 3.2(a), upon the entry of an order for dissolution of the Trust by a court of competent jurisdiction, the Debentures thereafter will be subject to prepayment, in whole only, but not in part, at the option of the Company, on or after the Initial Optional Prepayment Date, at the Prepayment Price, and otherwise in accordance with this Article III.
(c) Any prepayment of Debentures pursuant to Section 3.1 or Section 3.2 shall be subject to the Company obtaining the prior approval of the Federal Reserve, if such approval is then required under applicable capital guidelines or policies of the Federal Reserve, and any other required regulatory approvals.
(d) If a prepayment of some but not all of the Debentures would result in the Preferred Securities ceasing to be quoted on the Nasdaq Stock Market or any successor thereto or result in a delisting of the Preferred Securities from any national securities exchange on which the Preferred Securities are then listed, the Debentures will be subject to prepayment, in whole only, but not in part, by the Company.
Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, including but not limited to Section 14.2(c), the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at an optional prepayment price (the "Optional Prepayment Price") equal to 100% of the principal amount to be prepaid plus accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment. If the Securities are only prepaid redeemed pursuant to this Section 14.2, the Securities will be prepaid by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held for the account of its participants to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.
(b) Notwithstanding the first sentence of Section 14.2, upon the entry of an order for dissolution of NYB Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional prepayment, in whole only, but not in part, on or after October 31, 2001, at the Optional Prepayment Price and otherwise in accordance with this Article XIV.
(c) Any prepayment of Securities pursuant to Section 14.1 or Section 14.2 shall be subject to the receipt by the Company of any required regulatory approval, if then required.
Optional Prepayment by Company. (a) The Company may prepay the Debentures of any series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section 2.01.
(b) If any or all of the Debentures are to be prepaid pursuant to this Section, the Company shall deliver to the Trustee no more than 60 and no less than 45 days prior to the Prepayment Date a Company Order specifying the series and principal amount of Debentures to be prepaid and the Prepayment Date and Prepayment Price for such Debentures. Such Company Order shall be accompanied by a Board Resolution authorizing such prepayment. If the Debentures of a series are held by a Trust, the Company shall also deliver a copy of such Company Order to the Property Trustee for such Trust. If the Debentures of any series are only partially prepaid pursuant to this Section 14.02, the Debentures to be prepaid shall be selected on a pro rata basis not more than 60 days prior to the date fixed for prepayment from the outstanding Debentures not previously called for prepayment; provided, further, that any such proration may be made on the basis of the aggregate principal amount of Debentures held by each Debentureholder and may be made by making such adjustments as the Company deems fair and appropriate.
(c) Any prepayment of Debentures pursuant to Section 14.01 or Section 14.02 shall be subject to the Company obtaining any required prior approval of the Federal Reserve under regulatory capital regulations or policies.
Optional Prepayment by Company. Subject to the provisions of Article 14 of the Indenture, the Company shall have the right to prepay the Notes, in whole or in part, at any time and from time to time, at a prepayment price equal to the Optional Prepayment Price. Any prepayment pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holders of the Notes. If the Notes are only partially prepaid pursuant to this Section 3.2, the Notes will be prepaid pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of prepayment, the Notes are registered as a Global Note, the Depository shall determine, in accordance with its procedures, the principal amount of such Notes held by each Holder of a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.
Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, the Company shall have the right to redeem the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date, at the redemption prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of redemption (the "Optional Prepayment Price") if redeemed during the 12-month period beginning February 1 of the years indicated below. Year Percentage ---- ---------- 2007 104.625% 2008 104.163% 2009 103.700% 2010 103.238% 2011 102.775% 2012 102.313% 2013 101.850% 2014 101.388% 2015 100.925% 2016 100.463% 2017 and thereafter 100.000% -------- If the Securities are only partially redeemed pursuant to this Section 14.02, the Securities will be redeemed PRO RATA or by lot or by any other method utilized by the Trustee; PROVIDED, that if at the time of redemption the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each holder of a Security to be redeemed. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Company determines, PROVIDED that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.
(b) Notwithstanding the first sentence of Section 14.02, upon the entry of an order for dissolution of the OnBank Capital Trust by a court of competent jurisdiction, the Securities thereafter will be subject to optional redemption, in whole only, but not in part, on or after February 1, 2007, at the optional redemption prices set forth in Section 14.02 and otherwise in accordance with this Article XIV.
(c) Any redemption of Securities pursuant to Section 14.01 or Section 14.02 shall be subject to the Company obtaining the prior approval of the Federal Reserve, if such approval is then required under applicable capital guidelines or policies of the Federal Reserve.
Optional Prepayment by Company. (a) Subject to the provisions of this Article Fourteen, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at the optional prepayment prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment (the "Optional Prepayment
Optional Prepayment by Company. Subject to the provisions of Article 14 of the Indenture, the Company shall have the right to prepay the Notes, in whole or in part, at any time and from time to time, at a prepayment price equal to the Optional Prepayment Price. Any prepayment pursuant to this paragraph will be made upon not less than 30 days' nor more than 60 days' notice to the Holders of the Notes. If the Notes are only partially prepaid pursuant to this Section 3.2, the Notes will be prepaid pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of prepayment, the Notes are registered as a Global Note, the Common Depository shall determine, in accordance with its procedures, the principal amount of such Notes held by each Holder of a Note to be prepaid.
Optional Prepayment by Company. (a) Subject to the provisions of this Article XIV, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date, at the prepayment prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Sums and Compounded Interest, if any) and Liquidated Damages, if any, to the applicable date of prepayment (the "Optional Prepayment Price") if redeemed during the 12- month period beginning August 15 of the years indicated below. Year Percentage ---- ----------
