Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 2007, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid. (b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to this
Appears in 2 contracts
Samples: Indenture (Stifel Financial Corp), Indenture (Stifel Financial Corp)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June September 30, 2007, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the termination of inclusion of the Preferred Securities issued by the Trust from the Nasdaq National Market or the delisting of the Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Preferred Securities are then included, listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 2 contracts
Samples: Indenture (Mb Financial Inc /Md), Indenture (Mb Financial Capital Trust I)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June September 30, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder holders of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), then the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair fair, in its discretion. The Redemption 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 determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be deemed extinguished and no longer be Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities from any national securities exchange or in the termination of inclusion of the Preferred Securities issued by the Trust from the American Stock Exchange, Inc. or other self-regulatory organization on or in which the Preferred Securities are then listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 2 contracts
Samples: Indenture (Abc Bancorp Capital Trust I), Indenture (Abc Bancorp Capital Trust I)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities from the American Stock Exchange, Inc. or from any national securities exchange or in the termination of inclusion of the Preferred Securities issued by the Trust from the Nasdaq National Market or other self-regulatory organization on or in which the Preferred Securities are then listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 2 contracts
Samples: Indenture (S Y Bancorp Inc), Indenture (S Y Bancorp Capital Trust I)
Optional Redemption by the Company. (a) Subject Except in certain limited circumstances relating to maintaining our qualification as a REIT as described above in “General—Restrictions on Ownership and Transfer,” we cannot redeem the Series C Preferred Stock prior to the provisions later of Section 3.3(c)(1) first anniversary of the Termination Date and (2) June 1, except as otherwise 2024. On and after the later of (1) the first anniversary of the Termination Date and (2) June 1, 2024, at our sole option upon not less than 30 nor more than 60 days’ written notice, we may be specified in this Indenture, redeem shares of the Company shall have the right to redeem the DebenturesSeries C Preferred Stock, in whole or in part, at any time or from time to time, on or after June 30, 2007, for cash at a Redemption Price redemption price of $25.00 per share, plus an amount equal to 100% all accumulated and unpaid dividends on such shares to, but excluding, the date fixed for redemption, without interest. Holders of the principal amount Series C Preferred Stock to be redeemed plus any accrued and unpaid interest thereon must then surrender such Series C Preferred Stock at the place designated in the notice. Upon surrender of the Series C Preferred Stock, the holders will be entitled to the date redemption price. If notice of redemption of any shares of Series C Preferred Stock has been given and if we have deposited the funds necessary for such redemption with the paying agent for the benefit of the holders of any of the shares of Series C Preferred Stock to be redeemed, then from and after the redemption date, dividends will cease to accumulate on those shares of Series C Preferred Stock, those shares of Series C Preferred Stock will no longer be deemed outstanding and all rights of the holders of such redemptionshares will terminate, except the right to receive the redemption price. Any redemption pursuant to this Section 3.3(a) shall be made upon not If less than thirty (30) days' nor more than sixty (60) days' notice to the holder all of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant outstanding Series C Preferred Stock is to this Section 3.3(a)be redeemed, the Debentures shall Series C Preferred Stock to be redeemed will be selected (1) pro rata or rata, (2) by lot or (3) by any other fair and equitable method that our board of directors may choose. Unless full cumulative dividends for all applicable past dividend periods on all shares of Series C Preferred Stock and any shares of stock that rank on parity with regards to dividends and upon liquidation have been or contemporaneously are declared and paid (or declared and a sum sufficient for payment set apart for payment), no shares of Series C Preferred Stock will be redeemed. In such event, we also will not purchase or otherwise acquire directly or indirectly any shares of Series C Preferred Stock (except by exchange for our capital stock ranking junior to the Series C Preferred Stock as to dividends and upon liquidation). However, the foregoing will not prevent us from purchasing shares pursuant to our charter, in such other manner order to ensure that we continue to meet the requirements for qualification as the Trustee shall deem appropriate and fair in its discretion. The Redemption Price shall be paid prior a REIT, or from acquiring shares of Series C Preferred Stock pursuant to 12:00 noon, New York time, a purchase or exchange offer made on the date same terms to holders of such redemption or at such earlier time all outstanding shares of Series C Preferred Stock and any shares of stock that rank on parity with regards to dividends and upon liquidation. So long as the Company determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m.no dividends are in arrears, New York time, on the date such Redemption Price is to we will be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures entitled at any time and from time to time to repurchase shares of Series C Preferred Stock in open-market transactions duly authorized by the board of directors and effected in compliance with applicable laws. We will deliver a principal amount equal notice of redemption, by overnight delivery, by first class mail, postage prepaid or electronically to holders thereof, or request our agent, on behalf of us, to promptly do so by overnight delivery, by first class mail, postage prepaid or electronically. The notice will be provided not less than 30 nor more than 60 days prior to the Liquidation Amount date fixed for redemption in such notice. Each such notice will state: (as defined in 1) the Trust Agreementdate for redemption; (2) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of shares of Series C Preferred Securities Stock to be redeemed bears redeemed; (3) the CUSIP number for the Series C Preferred Stock; (4) the applicable redemption price on a per share basis; (5) if applicable, the place or places where the certificate(s) for such shares are to be surrendered for payment of the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisprice for redemption;
Appears in 2 contracts
Optional Redemption by the Company. (a) Subject At any time and from time to time, the provisions of Section 3.3(c), except as otherwise Notes may be specified in this Indenture, redeemed at the option of the Company shall have the right to redeem the Debenturesfor cash, in whole or in part, from time to time, on or after June 30, 2007upon notice as set forth in Section 1104 of the Indenture, at a Redemption Price redemption price equal to 100% the greater of (a) the principal amount of the Notes or (b) the sum of the present values of the 3 remaining scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus any 50 basis points, plus, in each case (a) and (b), accrued and unpaid interest thereon on the principal amount of the Notes being redeemed to but excluding the date of redemption (the “Redemption Price”). The date of any such redemptionredemption is known as the “Redemption Date”. Any redemption pursuant to this Section 3.3(a) shall The Treasury Rate will be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to calculated on the holder of the Debentures, at third Business Day immediately preceding the Redemption PriceDate. If the Debentures are only partially redeemed pursuant to this Section 3.3(a)Company redeems fewer than all of the outstanding Notes, the Debentures shall Trustee will select the Notes to be redeemed pro rata or by lot or in such other manner as accordance with the Trustee shall deem appropriate and fair in its discretionprovisions of Section 1103 of the Indenture. The Redemption Price shall Notes will be paid prior to 12:00 noon, New York time, on the date redeemed in integral multiples of such $1,000 principal amount. The Company may not give notice of any redemption or at such earlier time as if the Company determines provided that has defaulted in payment of interest and the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price default is to be paidcontinuing.
(b) Subject At or prior to the provisions time of Section 3.3(c)giving of any notice of redemption to the Holders of any Notes to be redeemed, the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal deliver an Officers’ Certificate to the Liquidation Amount (as defined in Trustee setting forth the Trust Agreement) calculation of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal Redemption Price applicable to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstandingsuch redemption. Such Debentures The Trustee shall be redeemed pursuant under no duty to thisinquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon, the Redemption Price as so calculated and set forth in such Officers’ Certificate
Appears in 1 contract
Samples: Fourth Supplemental Indenture (HCC Insurance Holdings Inc/De/)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c3.3(b), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30December 31, 20072002, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption, plus Deferred Payments, if any. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a)3.3, the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to If a partial redemption of the provisions Debentures would result in the delisting of Section 3.3(c)the Preferred Securities issued by the Trust from the American Stock Exchange or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall have not be permitted to effect such partial redemption and may only redeem the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thiswhole.
Appears in 1 contract
Samples: Indenture (Intrust Capital Trust)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30[December 31, 20072013], at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' ’ nor more than sixty (60) days' ’ notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities from the NASDAQ Global Select Market or from any national securities exchange or in the termination of inclusion of the Preferred Securities issued by the Trust from the NASDAQ National Market or other self-regulatory organization on or in which the Preferred Securities are then listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the termination of inclusion of the Preferred securities issued by the Trust from the Nasdaq National Market or the delisting of the Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Preferred Securities are then included, listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30December 31, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the termination of inclusion of the Preferred Securities in the Nasdaq National Market or the delisting of the Preferred Securities from any national securities exchange or other self-regulatory organization on or in which the Preferred Securities are then included, listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Samples: Indenture (Republic Bancorp Inc)
Optional Redemption by the Company. (a) Subject At any time and from time to time, the provisions of Section 3.3(c), except as otherwise Notes may be specified in this Indenture, redeemed at the option of the Company shall have the right to redeem the Debenturesfor cash, in whole or in part, from time to time, on or after June 30, 2007upon notice as set forth in Section 1104 of the Indenture, at a Redemption Price redemption price equal to 100% the greater of (a) the principal amount of the Notes or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus any 45 basis points, plus, in each case (a) and (b), accrued and unpaid interest thereon on the principal amount of the Notes being redeemed to but excluding the date of redemption (the “Redemption Price”). The date of any such redemptionredemption is known as the “Redemption Date”. Any redemption pursuant to this Section 3.3(a) shall The Treasury Rate will be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to calculated on the holder of the Debentures, at third Business Day immediately preceding the Redemption PriceDate. If the Debentures are only partially redeemed pursuant to this Section 3.3(a)Company redeems fewer than all of the outstanding Notes, the Debentures shall Trustee will select the Notes to be redeemed pro rata or by lot or in such other manner as accordance with the Trustee shall deem appropriate and fair in its discretionprovisions of Section 1103 of the Indenture. The Redemption Price shall Notes will be paid prior to 12:00 noon, New York time, on the date redeemed in integral multiples of such $1,000 principal amount. The Company may not give notice of any redemption or at such earlier time as if the Company determines provided that has defaulted in payment of interest and the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price default is to be paidcontinuing.
(b) Subject At or prior to the provisions time of Section 3.3(c)giving of any notice of redemption to the Holders of any Notes to be redeemed, the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal deliver an Officers’ Certificate to the Liquidation Amount (as defined in Trustee setting forth the Trust Agreement) calculation of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal Redemption Price applicable to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstandingsuch redemption. Such Debentures The Trustee shall be redeemed pursuant under no duty to thisinquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon, the Redemption Price as so calculated and set forth in such Officers’ Certificate.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30March 31, 2007, at a the Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemptionPrice. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for, and upon surrender by the Company to the Property Trustee of, the Preferred Securities and a proportionate amount of Common Securities in accordance with the provisions of Section 402(g) of the Trust Agreement, whereupon (i) the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered in accordance with the provisions of Section 402(g) of the Trust Agreement and (ii) a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities from the American Stock Exchange or from any other national securities exchange or in the termination of inclusion of the Preferred Securities issued by the Trust from the American Stock Exchange or other self-regulatory organization on or in which the Preferred Securities are then listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30_________, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the exclusion of the Preferred Securities issued by the Trust from the Nasdaq National Market or the delisting or exclusion of the Preferred Securities from any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject At any time and from time to time, the provisions of Section 3.3(c), except as otherwise Notes may be specified in this Indenture, redeemed at the option of the Company shall have the right to redeem the Debenturesfor cash, in whole or in part, from upon notice as set forth in Section 1104 of the Indenture, at a Redemption Price equal to the greater of (a) the principal amount of the Notes or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (not including any portion of such payments of interest accrued to the date of redemption) discounted to the date of redemption on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Rate plus 30 basis points, plus, in each case (a) and (b), accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, the date of redemption. The Treasury Rate will be calculated on the third Business Day immediately preceding the Redemption Date. If the Company redeems fewer than all of the outstanding Notes, the Notes to be redeemed will be selected in accordance with the procedures of the Depositary. The Notes will be redeemed in integral multiples of $1,000 principal amount. The Company may not give notice of any redemption if the Company has defaulted in payment of interest and the default is continuing.
(b) At any time to time, on or after June 30March 15, 20072044, the Company may redeem the Notes, in whole or in part, upon notice as set forth in Section 1104 of the Indenture, at a Redemption Price equal to 100% of the principal amount to be redeemed of the Notes being redeemed, plus any accrued and unpaid interest thereon to on the principal amount of the Notes being redeemed to, but excluding, the date of such redemption. Any redemption pursuant to this Section 3.3(a.
(c) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice At or prior to the holder time of giving of any notice of redemption to the Debentures, at the Redemption Price. If the Debentures are only partially Holders of any Notes to be redeemed pursuant to Section 2.01(a) of this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c)Third Supplemental Indenture, the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal deliver an Officers’ Certificate to the Liquidation Amount (as defined in Trustee setting forth the Trust Agreement) calculation of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal Redemption Price applicable to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstandingsuch redemption. Such Debentures The Trustee shall be redeemed pursuant under no duty to thisinquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon, the Redemption Price as so calculated and set forth in such Officers’ Certificate.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except Except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30December 31, 20072013, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' ’ nor more than sixty (60) days' ’ notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the The Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
Appears in 1 contract
Samples: Indenture (Tompkins Financial Corp)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except The Notes will be redeemable as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in a whole or in part, from time to at the option of the Company at any time, on or after June 30, 2007, at a Redemption Price redemption price equal to the greater of:
(i) 100% of the principal amount to be redeemed of such Notes plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a; and
(ii) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder sum of the Debentures, at remaining scheduled payments of principal and interest thereon (not including any portion of the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner payments of interest accrued as the Trustee shall deem appropriate and fair in its discretion. The Redemption Price shall be paid prior to 12:00 noon, New York time, on of the date of such redemption or redemption) discounted to their present value on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at such earlier time as the Company determines provided that the Company shall deposit with the Trustee an amount sufficient Treasury Rate plus 30 basis points, plus accrued and unpaid interest thereon to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paidof redemption.
(b) Subject The Trustee shall, in accordance with the Company's direction given pursuant to Section 3.03 of the provisions Base Indenture, mail notice of any redemption, which shall set forth the proposed redemption date and the proposed method to be used in determining the redemption price in accordance with Section 3.3(c3.01(a), at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes to be redeemed.
(c) Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption and the Notes or portions thereof called for redemption will cease to be outstanding and will only represent the right to receive the redemption price.
(d) If reasonably requested by the Trustee, the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal provide to the Liquidation Amount (Trustee such information as defined is required to prepare the notice referred to in Section 3.01(b) and to enable a determination to be made of the Trust Agreementredemption price in accordance with Section 3.01(a). The Company shall provide notice of the redemption price determined in accordance with Section 3.01(a) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in Trustee and the Trust Agreement) of that number of Common Securities that bears Depositary no later than the same proportion to business day immediately preceding the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisredemption date.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c3.3(b), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June December 30, 20072002, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption, plus Deferred Payments, if any. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a)3.3, the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to If a partial redemption of the provisions Debentures would result in the delisting of Section 3.3(c)the Preferred Securities issued by the Trust from the Nasdaq National Market or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall have not be permitted to effect such partial redemption and may only redeem the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thiswhole.
Appears in 1 contract
Samples: Indenture (Indiana United Bancorp)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June September 30, 2007, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty than
(30a) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair is set forth in its discretionSection 3.4(b). The Redemption Price shall be paid prior to 12:00 noon, New York Delaware 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 Redemption Price by 10:00 a.m., New York Delaware time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be deemed cancelled and extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the termination of inclusion of the Preferred Securities in the Nasdaq National Market or the delisting of the Preferred Securities from any national securities exchange or other self-regulatory organization on or in which the Preferred Securities are then included, listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Samples: Indenture (NPB Capital Trust Ii)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c3.3(b), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 20072003, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption, plus Deferred Payments, if any. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a)3.3, the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to If a partial redemption of the provisions Debentures would result in the delisting of Section 3.3(c)the Preferred Securities issued by the Trust from the New York Stock Exchange or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall have not be permitted to effect such partial redemption and may only redeem the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thiswhole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30____________, 20072005, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretionlot. The Redemption 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 determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from The Nasdaq National Market(SM) or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 20072013, at a the Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemptionPrice. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' ’ nor more than sixty (60) 60 days' ’ notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem the Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from the NASDAQ Stock Market or any other national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30___________, 20072008, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from the Nasdaq National Market or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
Appears in 1 contract
Samples: Indenture (Old Second Bancorp Inc)
Optional Redemption by the Company. Notice to Trustee.
(a) Subject Prior to the provisions of Section 3.3(c)August 6, except as otherwise may be specified in this Indenture2009, the Company Securities shall have not be redeemable at the right to Company's option.
(b) [Intentionally Omitted.]
(c) On or after August 6, 2009, the Company, at its option, may redeem the DebenturesSecurities, in whole or from time to time in part, from time to time, on or after June 30, 2007, in accordance with this Article 3 for Cash at a Redemption Price price equal to 100% of the principal amount to be redeemed of the Securities being redeemed, plus any accrued and unpaid interest, if any, to, but excluding the Redemption Date (the "REDEMPTION PRICE"); provided that if the Redemption Date falls after an Interest Payment Record Date and on or before the corresponding Interest Payment Date, then the interest thereon due on such Interest Payment Date shall be payable to the date Holders in whose name the Securities are registered at the close of business on the relevant Interest Payment Record Date and the Redemption Price shall only be 100% of the principal amount of the Securities being redeemed. Notwithstanding the foregoing, the Company may not redeem the Securities if the principal amount of the Securities has been accelerated, and such redemptionacceleration has not been rescinded, on or prior to the relevant Redemption Date. Any redemption If the Company elects to redeem Securities pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a3.01(c), the Debentures it shall notify each Holder whose Securities are to be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption Price shall be paid prior to 12:00 noon, New York time, on the date a notice of such redemption or (a "REDEMPTION NOTICE") mailed at such earlier time as the Company determines provided that the Company shall deposit with the Trustee an amount sufficient least 20 Business Days, but not more than 60 Business Days, prior to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (Date as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned fixed by the Company, plus an additional specifying the Redemption Date, the principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears redeemed, the Redemption Price, and other such items as required pursuant to Section 3.03. If fewer than all of the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Company and given to the total number Trustee, which record date shall not be less than ten days after the date of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant notice to thisthe Trustee.
Appears in 1 contract
Samples: Indenture (Century Aluminum Co)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except The Notes will be redeemable as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in a whole or in part, from time to at the option of the Company at any time, on or after June 30, 2007, at a Redemption Price redemption price equal to the greater of:
(i) 100% of the principal amount to be redeemed of such Notes plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a; and
(ii) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder sum of the Debentures, at remaining scheduled payments of principal and interest thereon (not including any portion of the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner payments of interest accrued as the Trustee shall deem appropriate and fair in its discretion. The Redemption Price shall be paid prior to 12:00 noon, New York time, on of the date of such redemption or redemption) discounted to their present value on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at such earlier time as the Company determines provided that the Company shall deposit with the Trustee an amount sufficient Treasury Rate plus 25 basis points, plus accrued and unpaid interest thereon to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paidof redemption.
(b) Subject The Trustee shall, in accordance with the Company's direction given pursuant to Section 3.03 of the provisions Base Indenture, mail notice of any redemption, which shall set forth the proposed redemption date and the proposed method to be used in determining the redemption price in accordance with Section 3.3(c3.01(a), at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes to be redeemed.
(c) Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption and the Notes or portions thereof called for redemption will cease to be outstanding and will only represent the right to receive the redemption price.
(d) If reasonably requested by the Trustee, the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal provide to the Liquidation Amount (Trustee such information as defined is required to prepare the notice referred to in Section 3.01(b) and to enable a determination to be made of the Trust Agreementredemption price in accordance with Section 3.01(a). The Company shall provide notice of the redemption price determined in accordance with Section 3.01(a) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in Trustee and the Trust Agreement) of that number of Common Securities that bears Depositary no later than the same proportion to business day immediately preceding the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisredemption date.
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Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c)3 below, except as otherwise this Note may be specified redeemed, in this Indenturecash, at the Company shall have option of the right to redeem the DebenturesCompany, in whole or in part, from part at any time to time, after Effective Date and on or after June 30, 2007, at a Redemption Price equal to 100% Date by giving the notices and making the payment of the principal amount required hereby. The Company will send written notice of its election to be redeemed plus any accrued and unpaid interest thereon redeem this Note to the Holder of this Note by registered or certified mail, return receipt requested, or shall deliver notice of such election by hand delivery or by express delivery or other delivery service at least five (5) days prior to the date of such redemptionredemption (which date of redemption must be at least 1 day prior to the Maturity Date) (the “Redemption Date”). Any redemption pursuant On the Redemption Date, the Company will deliver to the Holder of this Section 3.3(aNote upon surrender of this Note an amount equal to (a)(i) the principal amount of the Note being redeemed (which amount shall not be made upon not less than thirty the lesser of $10,000,000 or the remaining principal balance of the Note) plus (30ii) days' nor more than sixty (60) days' notice accrued, unpaid interest on the principal amount being redeemed to the holder date of redemption (the Debentures“Redemption Price”). If less than the entire remaining principal amount of this Note is to be redeemed, at in addition to delivering the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c)Date, the Company shall have also deliver to and in the right to redeem Debentures at any time and from time to time name of the appropriate Person, a new Note dated the date of the payment of the Redemption Price in a principal amount equal to the Liquidation Amount (as defined unredeemed portion of this Note and having other terms identical to this Note, upon cancellation of this Note. On and after any Redemption Date, unless the Company defaults in the Trust Agreement) payment of any Preferred Securities purchased and beneficially owned by the CompanyRedemption Price, plus an additional principal amount interest shall cease to accrue on the portion of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Note called for redemption.
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Samples: Note (Petrohawk Energy Corp)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30_________ __, 200720__, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.. 21NEXT PAGE
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the termination of inclusion of the Preferred Securities issued by the Trust from the Nasdaq National Market or the delisting of the Preferred Securities issued by the Trust from any national securities exchange or other organization on which the Preferred Securities are then included, listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
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Samples: Indenture (Itla Capital Corp)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30, 2007, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at At any time and from time to time, the Company may, by delivery of an irrevocable notice to the Indenture Trustee at least 35 days (but no earlier than 90 days) before the selected Redemption Date and by delivery of the Redemption Price (including the Optional Redemption Premium) to the Indenture Trustee on or before such Redemption Date, redeem the Notes (or a portion thereof) in whole or in part at any time on such selected Redemption Date; provided that such Redemption Date must be a New York Business Day. If any such redemption is for less than the entire amount of the Notes, then the reduction in the Principal Balance of the Notes shall be applied to reduce the remaining scheduled Quarterly Amortization Amounts on a principal pro rata basis. Upon the request of the Company, delivered at least 5 Business Days prior to the date set for delivery of such notice of redemption, the Indenture Trustee shall provide a copy of such notice, prepared by and at the expense of the Company, to the Noteholders. The notice prepared by the Company shall specify the Redemption Date, the portion and components of the Redemption Price to be payable to the Noteholders and the place(s) of payment of such amounts (including, if payment in full of the Notes, against delivery of the Notes as provided in Section 2.5(c)).
(b) On or before the New York Business Day before the indicated Redemption Date, the Company shall deliver to the Indenture Trustee the applicable Redemption Price. Following receipt by the Indenture Trustee of the Redemption Price in connection with such an optional redemption of the Notes (in whole or in part), the Noteholders shall be entitled to receive on the selected Redemption Date an amount in U.S. Dollars equal to the Liquidation Amount sum of: (as defined i) the Principal Balance of the Notes (or, in the Trust Agreementcase of a partial redemption, the portion thereof to be redeemed), (ii) all accrued and unpaid Interest (if any) on such redeemed principal amount to but excluding the Redemption Date, (iii) all unpaid Additional Amounts, (iv) the Optional Redemption Premium on the Notes (or, in the case of any Preferred Securities purchased a partial redemption, the portion thereof to be redeemed) and beneficially owned (v) all other amounts (if any) then due and payable to the Noteholders under the Transaction Documents. If such Redemption Price (or a portion thereof) is made by (or on behalf of) the Company, plus an additional principal amount of Debentures equal then the Indenture Trustee shall apply such amounts to make such payment to the Liquidation Amount (as defined in the Trust Agreement) of applicable Noteholders; it being understood that number of Common Securities that bears the same proportion such payments to the total number applicable Noteholders might not occur until the Indenture Trustee’s Business Day after the Redemption Date and no additional Interest or other amounts shall accrue as a result of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisany such delay.
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Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30December 31, 20072013, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) days' nor more than sixty (60) days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities from the NASDAQ Global Select Market or from any national securities exchange or in the termination of inclusion of the Preferred Securities issued by the Trust from the NASDAQ National Market or other self-regulatory organization on or in which the Preferred Securities are then listed, quoted or included, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
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Samples: Indenture (S Y Bancorp Inc)
Optional Redemption by the Company. (a) Subject to the provisions of Section 3.3(c), except as otherwise may be specified in this Indenture, the Company shall have the right to redeem the Debentures, in whole or in part, from time to time, on or after June 30__, 20072006, at a Redemption Price equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to the date of such redemption. Any redemption pursuant to this Section 3.3(a) shall be made upon not less than thirty (30) 30 days' nor more than sixty (60) 60 days' notice to the holder of the Debentures, at the Redemption Price. If the Debentures are only partially redeemed pursuant to this Section 3.3(a), the Debentures shall be redeemed pro rata or by lot or in such other manner as the Trustee shall deem appropriate and fair in its discretion. The Redemption 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 Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
(b) Subject to the provisions of Section 3.3(c), the Company shall have the right to redeem Debentures at any time and from time to time in a principal amount equal to the Liquidation Amount (as defined in the Trust Agreement) of any Preferred Securities purchased and beneficially owned by the Company, plus an additional principal amount of Debentures equal to the Liquidation Amount (as defined in the Trust Agreement) of that number of Common Securities that bears the same proportion to the total number of Common Securities then outstanding as the number of Preferred Securities to be redeemed bears to the total number of Preferred Securities then outstanding. Such Debentures shall be redeemed pursuant to thisthis Section 3.3(b) only in exchange for and upon surrender by the Company to the Property Trustee of the Preferred Securities and a proportionate amount of Common Securities, whereupon the Property Trustee shall cancel the Preferred Securities and Common Securities so surrendered and a Like Amount (as defined in the Trust Agreement) of Debentures shall be extinguished by the Trustee and shall no longer be deemed Outstanding.
(c) If a partial redemption of the Debentures would result in the delisting of the Preferred Securities issued by the Trust from the Nasdaq National Market or any national securities exchange or other organization on which the Preferred Securities are then listed or quoted, the Company shall not be permitted to effect such partial redemption and may only redeem the Debentures in whole.
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