Common use of Optional Redemption Procedure Clause in Contracts

Optional Redemption Procedure. The payment of cash pursuant to an Optional Redemption or a Monthly Redemption shall be payable on the Optional Redemption Date or the Monthly Redemption Date, as applicable. If any portion of the payment pursuant to an Optional Redemption or Monthly Redemption shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 15% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption Amount or Monthly Redemption Amount, as applicable, remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Monthly Redemption, as applicable, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption (for the avoidance of doubt, (i) in the event that the Holder elects to invalidate such Optional Redemption, no further interest payments described in this Section 6(a) shall be due by the Company, and (ii) the Company shall maintain the right to exercise subsequent Optional Redemptions). Notwithstanding anything to the contrary in this Section 6, the Company’s determination to redeem in cash shall be applied ratably among the Holders of Debentures. The Holder may elect to convert the outstanding principal amount of the Debenture pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company.

Optional Redemption Procedure. The payment of cash pursuant to an If any Optional Redemption or a Monthly Redemption Notice has been given in respect of the Notes in accordance with Section 10.01, the Notes shall be become due and payable on the Optional Redemption Date at the place or places stated in the Monthly Optional Redemption Notice at the Optional Redemption Amount. On presentation and surrender of the Notes at the place or places stated in the Optional Redemption Notice, the Notes shall be paid and redeemed by the Company at the Optional Redemption Amount. Prior to the open of business on the Optional Redemption Date, the Company shall deposit with the Trustee (or other Paying Agent appointed by the Company) or, if the Company or a subsidiary of the Company is acting as applicablethe Paying Agent, shall segregate and hold in trust as provided in Section 5.03(b), an amount of cash (in immediately available funds if deposited on the Optional Redemption Date) sufficient to pay the Optional Redemption Amount of all the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Optional Redemption Date for such Notes. The Trustee (or other Paying Agent appointed by the Company) shall, promptly after such payment and upon written demand of the Company, return to the Company any funds in excess of the Redemption Price. If any portion of the payment pursuant to an Optional Redemption or Monthly Redemption shall not be paid by the Company in cash by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 1518% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption Amount or Monthly Redemption Amount, as applicable, remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Monthly Redemption, as applicable, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption (for the avoidance of doubt, (i) in the event that the Holder elects to invalidate such Optional Redemption, no further interest payments described in this Section 6(a) shall be due by the Company, and (ii) the Company shall maintain the right to exercise subsequent Optional Redemptions). Notwithstanding anything to the contrary in this Section 610, the Company’s determination to redeem in cash make an Optional Redemption under Section 10.01 shall be applied ratably by lot among the Holders (and in the case of Debenturesany Global Notes, redeemed in accordance with the Depositary’s applicable procedures). The Holder Holders may elect to convert the outstanding principal amount of the Debenture Notes pursuant to Section 4 prior to, in case of Global Notes, the Close of Business on the second Trading Day immediately preceding the Optional Redemption Date, and, with respect to actual payment in cash Physical Notes, that Holders may surrender their Notes for conversion at any time prior to the Close of Business on the third Trading Date immediately preceding the Optional Redemption Date for any redemption under this Section 6 10 by the delivery of a Conversion Notice of Conversion to the CompanyCompany and the Conversion Agent.

Optional Redemption Procedure. The payment of cash pursuant to an If any Optional Redemption or a Monthly Redemption Notice has been given in respect of the Notes in accordance with Section 10.01, the Notes shall be become due and payable on the Optional Redemption Date at the place or places stated in the Monthly Optional Redemption Notice at the Optional Redemption Amount. On presentation and surrender of the Notes at the place or places stated in the Optional Redemption Notice, the Notes shall be paid and redeemed by the Company at the Optional Redemption Amount. Prior to the open of business on the Optional Redemption Date, the Company shall deposit with the Trustee (or other Paying Agent appointed by the Company) or, if the Company or a subsidiary of the Company is acting as applicablethe Paying Agent, shall segregate and hold in trust as provided in Section 5.03(b), an amount of cash (in immediately available funds if deposited on the Optional Redemption Date) sufficient to pay the Optional Redemption Amount of all the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Optional Redemption Date for such Notes. The Trustee (or other Paying Agent appointed by the Company) shall, promptly after such payment and upon written demand of the Company, return to the Company any funds in excess of the Redemption Price. If any portion of the payment pursuant to an Optional Redemption or Monthly Redemption shall not be paid by the Company in cash by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 1518% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption Amount or Monthly Redemption Amount, as applicable, remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Monthly Redemption, as applicable, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption (for the avoidance of doubt, (i) in the event that the Holder elects to invalidate such Optional Redemption, no further interest payments described in this Section 6(a) shall be due by the Company, and (ii) the Company shall maintain the right to exercise subsequent Optional Redemptions). Notwithstanding anything to the contrary in this Section 610, the Company’s determination to redeem in cash make an Optional Redemption under Section 10.01 shall be applied ratably by lot among the Holders (and in the case of Debenturesany Global Notes, redeemed in accordance with the Depositary’s applicable procedures). The Holder Holders may elect to convert the outstanding principal amount of the Debenture Notes pursuant to Section 4 prior to, in case of Global Notes, the Close of Business on the second Trading Day immediately preceding the Optional Redemption Date , and, with respect to actual payment in cash Physical Notes, that Holders may surrender their Notes for conversion at any time prior to the Close of Business on the third Trading Date immediately preceding the Optional Redemption Date for any redemption under this Section 6 10 by the delivery of a Conversion Notice of Conversion to the CompanyCompany and the Conversion Agent.