Common use of Optional Redemption for Changes in Withholding Taxes Clause in Contracts

Optional Redemption for Changes in Withholding Taxes. (a) The Company may redeem the Notes, at its option, at any time in whole, but not in part, upon not less than 30 nor more than 60 days' notice to the Holders (which notice will be irrevocable), at a redemption price equal to 100% of the outstanding principal amount of Notes, plus accrued and unpaid interest, if any, to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in the event that the Company determines in good faith that the Company or any Guarantor has become or would become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, or the Note Guarantees Additional Amounts and such obligation cannot be avoided by taking reasonable measures available to the Company or the relevant Guarantor, as applicable (including making payment through a Paying Agent located in another jurisdiction), as a result of (i) a change in or an amendment to the laws or treaties (including any regulations or rulings promulgated thereunder) of any Specified Tax Jurisdiction affecting taxation, which change or amendment is announced or becomes effective on or after the date of this Indenture or (ii) any change in or amendment to any official position of a taxing authority in any Specified Tax Jurisdiction regarding the application, administration or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date of this Indenture.

Appears in 1 contract

Samples: Indenture (Ocean Rig UDW Inc.)

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Optional Redemption for Changes in Withholding Taxes. (a) The At any time, the Company may redeem all, but not less than all, of the Notes, at its option, at any time in whole, but not in part, upon on not less than 30 nor more than 60 days' notice to the Holders (which notice will be irrevocable)Holders, at a redemption price equal to 100% of the outstanding principal amount of Notesthereof, plus accrued and unpaid interest, if any, interest to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in the event that the Company determines in good faith that or the Company or any Guarantor Guarantors, as the case may be, has become or would become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, or the Note Guarantees any Additional Amounts and such obligation cannot be avoided by taking reasonable measures available to the Company or the relevant Guarantor, as applicable (including making payment through a Paying Agent located in another jurisdiction), as a result of (i) a change in or an amendment to the laws or treaties (including any regulations or rulings promulgated thereunder) of any Specified Tax Jurisdiction affecting taxation(or any relevant jurisdiction, which change political subdivision or amendment is announced taxing authority thereof or becomes effective on therein), or after the date of this Indenture or (ii) any change in or amendment to any official position of a taxing authority in any Specified Tax Jurisdiction regarding the application, administration application or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date of this Indenture., and the Company or the Guarantors, as the case may be, cannot avoid such obligation by taking reasonable measures available to them; provided that the Board of Directors of Parent determines in good faith that the aggregate amount of such Additional Amounts would create additional annual costs in excess of 0.50% of the aggregate principal amount of Notes then outstanding; and

Appears in 1 contract

Samples: Indenture (Vantage Drilling CO)

Optional Redemption for Changes in Withholding Taxes. (a) The At any time, the Company may redeem all, but not less than all, of the Notes, at its option, at any time in whole, but not in part, upon on not less than 30 nor more than 60 days' notice to the Holders (which notice will be irrevocable)Holders, at a redemption price equal to 100% of the outstanding principal amount of Notesthereof, plus accrued and unpaid interest, if any, interest and any Additional Amounts to the extent any Additional Amounts are due and owing to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in the event that the Company determines in good faith that or the Company or any Guarantor Guarantors, as the case may be, has become or would become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, or the Note Guarantees any Additional Amounts and such obligation cannot be avoided by taking reasonable measures available to the Company or the relevant Guarantor, as applicable (including making payment through a Paying Agent located in another jurisdiction), as a result of (i) a change in or an amendment to the laws or treaties (including any regulations or rulings promulgated thereunder) of any Specified Tax Jurisdiction affecting taxation(or any relevant jurisdiction, which change political subdivision or amendment is announced taxing authority thereof or becomes effective on therein), or after the date of this Indenture or (ii) any change in or amendment to any official position of a taxing authority in any Specified Tax Jurisdiction regarding the application, administration application or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date of this Indenture., and the Company or the Guarantors, as the case may be, cannot avoid such obligation by taking reasonable measures available to them; provided that the Board of Directors of Parent determines in good faith that the aggregate amount of such Additional Amounts would create additional annual costs in excess of 0.50% of the aggregate principal amount of Notes then outstanding; and

Appears in 1 contract

Samples: Intercreditor Agreement (Vantage Drilling CO)

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Optional Redemption for Changes in Withholding Taxes. (a) The At any time, the Company may redeem all, but not less than all, of the Notes, at its option, at any time in whole, but not in part, upon on not less than 30 nor more than 60 days' notice to the Holders (which notice will be irrevocable)’ notice, at a redemption price equal to 100% of the outstanding principal amount of Notesthereof, plus accrued and unpaid interest, if any, interest to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in the event that the Company determines in good faith that or the Company or any Guarantor Guarantors, as the case may be, has become or would become obligated to pay, on the next date on which any amount would be payable with respect to the Notes, or the Note Guarantees any Additional Amounts and such obligation cannot be avoided by taking reasonable measures available to the Company or the relevant Guarantor, as applicable (including making payment through a Paying Agent located in another jurisdiction), as a result of (i) a change in or an amendment to the laws or treaties (including any regulations or rulings promulgated thereunder) of any Specified Tax Jurisdiction affecting taxation(or any relevant jurisdiction, which change political subdivision or amendment is announced taxing authority thereof or becomes effective on therein), or after the date of this Indenture or (ii) any change in or amendment to any official position of a taxing authority in any Specified Tax Jurisdiction regarding the application, administration application or interpretation of such laws, treaties, regulations or rulings (including a holding, judgment or order holding by a court of competent jurisdiction), which change or amendment is announced or becomes effective on or after the date of this Indenture., and the Company or the Guarantors, as the case may be, cannot avoid such obligation by taking reasonable measures available to them; provided that the Board of Directors of Parent determines in good faith that the aggregate amount of such Additional Amounts would create additional annual costs in excess of 0.50% of the aggregate principal amount of Notes then outstanding; and

Appears in 1 contract

Samples: Indenture (Vantage Drilling CO)

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