Common use of Optional Redemption upon Equity Offerings Clause in Contracts

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July 15, 2026, the Issuer may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 40% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the 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); provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Indenture (Dana Inc)

AutoNDA by SimpleDocs

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July 15, 20262024, the Issuer may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 40% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500103.000% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the 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); provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Indenture (Dana Inc)

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July February 15, 20262025, the Issuer Company may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 40% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500104.500% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date date of redemption (subject to the right of Holders holders of record on the relevant record date to receive interest due on the relevant Interest Payment Dateinterest payment date), in an aggregate amount not to exceed the amount of the Net Cash Proceeds, of one or more Equity Offerings; provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer Company shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Ninth Supplemental Indenture (Dana Inc)

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July April 15, 20262020, the Issuer may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 4035% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500105.750% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the 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); provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Indenture (Dana Inc)

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July 15May 1, 20262024, the Issuer Company may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 40% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500104.250% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date date of redemption (subject to the right of Holders holders of record on the relevant record date to receive interest due on the relevant Interest Payment Dateinterest payment date), in an aggregate amount not to exceed the amount of the Net Cash Proceeds, of one or more Equity Offerings; provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer Company shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Seventh Supplemental Indenture (Dana Inc)

AutoNDA by SimpleDocs

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July June 15, 20262023, the Issuer Company may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 4035% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500105.625% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date date of redemption (subject to the right of Holders holders of record on the relevant record date to receive interest due on the relevant Interest Payment Dateinterest payment date), in an aggregate amount not to exceed the amount of the Net Cash Proceeds, of one or more Equity Offerings; provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer Company shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Indenture (Dana Inc)

Optional Redemption upon Equity Offerings. At any time, or from time to time, prior to July 15June 1, 20262019, the Issuer may, at its option, use all or any portion of the net cash proceeds of one or more Equity Offerings (as defined below) to redeem up to 4035% of the aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) at a redemption price equal to 108.500106.500% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date date of redemption (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Dateinterest payment date); provided that at least 50% of the aggregate principal amount of Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately after any such redemption. In order to effect the foregoing redemption with the proceeds of any Equity Offering, the Issuer shall make such redemption not more than 90 days after the consummation of any such Equity Offering.

Appears in 1 contract

Samples: Indenture (Dana Holding Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!