Common use of Optional Prepayment by Company Clause in Contracts

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.

Appears in 2 contracts

Samples: Trenwick Capital Trust I, Trenwick Group Inc

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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 1December 15, 20072006, at the optional prepayment price equal to the outstanding principal amount of the Securities to be prepaidredeemed, plus accrued and unpaid interest thereon (including Additional Sums and 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 will be prepaid will be chosen pro rata PRO RATA or by lot or by any other method utilized by the Trustee; providedPROVIDED, that, as to that if at the time of prepayment the Securities are registered as a Global Security at the time of prepaymentSecurity, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner holder of such Securities a Security 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, 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.

Appears in 1 contract

Samples: Indenture (Berkley W R Capital Trust)

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 January 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 Additional Sums and 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, 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 holder of such Securities a Security 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, 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.

Appears in 1 contract

Samples: Orion Capital Trust I

Optional Prepayment by Company. (a) Subject to the provisions of Section 11.8(b) and to the provisions of this Article XIV11 hereof, the Company shall have the right to prepay the Debt Securities, in whole or in part, at any time and from time to time, on or after February 1[March [___], 2007], at the optional prepayment a redemption 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"). Any prepayment pursuant to this paragraph will be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the Holders of the Debt Securities. If the Debt Securities are only partially prepaid pursuant to this Section 14.023.2, the Debt Securities to will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to that if at the time of prepayment the Debt Securities are registered as a Global Security at the time of prepaymentSecurity, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debt Securities held by each beneficial owner Holder of such Securities a Debt Security 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, 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.

Appears in 1 contract

Samples: Compass Trust Iii

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 February 1, 2007, the Initial Optional Prepayment Date at the an optional prepayment price (the "Optional Prepayment Price") equal to 100% of the outstanding principal amount of the Securities to be prepaid, prepaid plus accrued and unpaid interest thereon (including Compounded Additional Interest and Additional Compounded Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price")prepayment. If the Securities are only partially prepaid redeemed pursuant to this Section 14.0214.2, the Securities to will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to that if at the time of prepayment the Securities are registered as a Global Security at the time of prepaymentSecurity, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner for the account of such Securities its participants 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, 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.

Appears in 1 contract

Samples: Indenture (New York Bancorp Capital Trust)

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Optional Prepayment by Company. (a) Subject to the provisions of this Article XIVFourteen, 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 [ ]% of the outstanding principal amount balance of the Securities to be prepaid(such amount, plus the "Optional Prepayment Price"), plus, in each case, accrued and unpaid interest thereon (including Compounded Additional Interest and Additional Compounded Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price")prepayment. If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities to will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to provided that if at the time of prepayment the Securities are registered as a Global Security at the time of prepaymentSecurity, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner holder of such Securities a Security 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, 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.

Appears in 1 contract

Samples: HSBC Usa Capital Trust Vi

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 February 1, 2007, the Initial Optional Prepayment Date at the an optional prepayment price (the "Optional Prepayment Price") equal to the percentage of the outstanding principal amount of the Securities to be prepaidspecified below, plus plus, in each case, accrued and unpaid interest thereon (including Compounded Additional Interest and Additional Compounded Interest, if any) and any Additional Sums to the applicable date of prepayment (the "Optional Prepayment Price")prepayment: On or after _________, __________: 100.000%. If the Securities are only partially prepaid redeemed pursuant to this Section 14.0214.2, the Securities to will be prepaid will be chosen pro rata or by lot or by any other method utilized by the Trustee; provided, that, as to that if at the time of prepayment the Securities are registered as a Global Security at the time of prepaymentSecurity, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each beneficial owner for the account of such Securities its participants 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, 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.

Appears in 1 contract

Samples: Life Financial Capital Trust

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