Common use of Optional Redemption by the Company Clause in Contracts

Optional Redemption by the Company. During any Daily Period or Weekly Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determine, at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. On any Conversion Date or on the day following the end of a Calculation Period if such day is the end of the Calculation Period for all Bonds, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole or in part, less than all such Bonds to be selected by lot or in such other manner as the Trustee shall determine, at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determine, at the redemption prices (expressed as percentages of principal amount) set forth in the following table plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date 102% First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%

Appears in 2 contracts

Samples: Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.)

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Optional Redemption by the Company. During any Daily Period or Weekly Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. On any Conversion Date or on the day following the end of a the Calculation Period if such day is the end of the Calculation Period for all Bonds, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole or in part, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at the redemption prices (expressed as percentages of principal amount) set forth in the following table plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date 102% First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%

Appears in 2 contracts

Samples: Lease Agreement (NuStar Energy L.P.), Lease Agreement (NuStar Energy L.P.)

Optional Redemption by the Company. During any Daily Period or Weekly Period, (i) On and after the Bonds are subject to redemption by five (5) year anniversary of the IssuerOriginal Issuance Date, at the Company’s option and election and upon its compliance with this SECTION 5(d)(i), all (but not less than all) of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to then outstanding Convertible Preferred Shares may be selected by lot or in such other manner as the Trustee shall determine, redeemed at a price (the “Optional Redemption Price”) per Convertible Preferred Share equal to (a) 105% of the Liquidation Preference as of the Optional Redemption Date if such redemption price occurs prior to the six (6) year anniversary of the Original Issuance Date; (b) 103% of the Liquidation Preference as of the Optional Redemption Date if such redemption occurs after the six (6) year anniversary of the Original Issuance Date and prior to the seven (7) year anniversary of the Original Issuance Date; or (c) 100% of the Outstanding principal amount thereof plus accrued interest Liquidation Preference as of the Optional Redemption Date if such redemption occurs after the seven (7) year anniversary of the Original Issuance Date. The Company shall provide written notice (the “Optional Redemption Notice”) of such redemption pursuant to this SECTION 5(d), no less than ten (but not including10) days and no more than sixty (60) days prior to the date set for the redemption date. On any Conversion Date or on (the day following “Optional Redemption Date”) to the end holders of a Calculation Period if such day is the end record of the Calculation Period for all Bonds, Convertible Preferred Shares as they appear in the Bonds are subject to redemption by the Issuer, at the option records of the Company. The Optional Redemption Notice must state: (A) that the Convertible Preferred Shares have been called for redemption and, in whole or in partbriefly, less than all such Bonds to be selected by lot or in such other manner the optional redemption right; (B) the Optional Redemption Price as the Trustee shall determine, at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole and the calculations supporting the specified Optional Redemption Price, (C) that the Convertible Preferred Shares may be converted at any time or in part before the Optional Redemption Date; (D) the name and address of the transfer agent; and (E) the name and address of the place to where the Convertible Preferred Shares are to be surrendered for payment of the Optional Redemption Price. The Company shall, on any Interest Payment the Optional Redemption Date, less than all pay the applicable Optional Redemption Price, upon surrender of such Bonds the certificates or DRS statements representing the Convertible Preferred Shares to be selected by lot or in such other manner as redeemed. Convertible Preferred Shares to be redeemed on the Trustee shall determine, at the redemption prices (expressed as percentages of principal amount) set forth in the following table plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through will, from and after such date, no longer be outstanding and the rights, privileges, restrictions and conditions attaching to the Convertible Preferred Shares (except the right to receive from the Company the applicable Optional Redemption Price) shall cease and including) terminate with respect to such shares; provided that in the day immediately preceding event that a Convertible Preferred Share is not redeemed due to a default in payment by the first anniversary Company, such Convertible Preferred Share will remain outstanding and will be entitled to all rights, privileges, restrictions and conditions attaching to the Convertible Preferred Shares as provided herein (including continued increases in Liquidation Preference at the applicable Accretion Rate). For greater certainty, the holders of the First Convertible Preferred Shares may, at any time prior to the Optional Redemption Date 102% First anniversary Date, elect to convert any or all of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%their Convertible Preferred Shares pursuant to SECTION 6(a).

Appears in 1 contract

Samples: Subscription Agreement (GFL Environmental Inc.)

Optional Redemption by the Company. During any Daily Period or Weekly Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. On any Conversion Date or on the day following the end of a the Calculation Period if such day is the end of the Calculation Period for all Bonds, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole or in part, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at the redemption prices (expressed as percentages of principal amount) set forth in the following table plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date 102% First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%:

Appears in 1 contract

Samples: Lease Agreement (NuStar Energy L.P.)

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Optional Redemption by the Company. During any Daily Period or Weekly Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. On any Conversion Date or on the day following the end of a the Calculation Period if such day is the end of the Calculation Period for all Bonds, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole or in part, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term PeriodPeriod that is greater than ten (10)years, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole at any time or in part on any Interest Payment DateBusiness Day, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the redemption prices (expressed as percentages of principal amount) set forth in the following table amount thereof plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through . During any Long Term Period that is not greater than ten (and including10) years, the day immediately preceding the first anniversary of the First Optional Redemption Date 102% First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%Bonds are not subject to optional redemption.

Appears in 1 contract

Samples: Lease Agreement (NuStar Energy L.P.)

Optional Redemption by the Company. During any Daily Period or Weekly Period, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole at any time or in part on any Interest Payment Date, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. On any Conversion Date or on the day following the end of a the Calculation Period if such day is the end of the Calculation Period for all Bonds, the Bonds are subject to redemption by the Issuer, at the option of the Company, in whole or in part, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the Outstanding principal amount thereof plus accrued interest to (but not including) the redemption date. During any Long Term PeriodPeriod that is greater than ten (10) years, the Bonds are subject to redemption by the Issuer, at the option of the Company, on or after the First Optional Redemption Date, in whole at any time or in part on any Interest Payment DateBusiness Day, less than all of such Bonds to be selected by lot or in such other manner as the Trustee shall determinedetermine (except as otherwise provided in Section 3.06 hereof), at a redemption price of 100% of the redemption prices (expressed as percentages of principal amount) set forth in the following table amount thereof plus accrued interest to (but not including) the redemption date: Redemption Dates Redemption Prices First Optional Redemption Date through . During any Long Term Period that is not greater than ten (and including10) years, the day immediately preceding the first anniversary of the First Optional Redemption Date 102% First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date 101% Second anniversary of the First Optional Redemption Date and thereafter 100%Bonds are not subject to optional redemption.

Appears in 1 contract

Samples: Lease Agreement (NuStar Energy L.P.)

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