Common use of Original Issue Discount Notes Clause in Contracts

Original Issue Discount Notes. Notwithstanding anything herein to the contrary, if this Note is an Original Issue Discount Note as specified on the face hereof, the amount payable in the event the principal amount hereof is declared to be due and payable immediately by reason of an Event of Default or in the event of redemption or repayment hereof prior to the Stated Maturity hereof, in lieu of the principal amount due at the Stated Maturity hereof, will be the Amortized Face Amount of this Note as of the date of declaration, redemption or repayment, as the case may be. The "Amortized Face Amount" of this Note will be the amount equal to (a) the principal amount of this Note multiplied by the Issue Price specified on the face hereof plus (b) the portion of the difference between the dollar amount determined pursuant to the preceding clause (a) and the principal amount hereof that has accreted at the Yield to Maturity specified on the face hereof (computed in accordance with generally accepted United States bond yield computation principles) to such date of declaration, redemption or repayment but in no event will the Amortized Face Amount of this Note exceed its principal amount.

Appears in 2 contracts

Samples: Medium Term Note (Maytag Corp), Medium Term Note (Maytag Corp)

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Original Issue Discount Notes. Notwithstanding anything herein to the contrary, if this Note is an Original Issue Discount Note as specified on the face hereofNote, the amount payable in the event the principal amount hereof is declared to be due and payable immediately by reason of an Event of Default or in the event of redemption or repayment hereof prior to the Stated Maturity hereof, hereof in lieu of the principal amount due at the Stated Maturity hereof, will hereof shall be the Amortized Face Amount of this Note as of the date of declaration, redemption or repayment, as the case may be. The "Amortized Face Amount" of this Note will shall be the amount equal to (a) the principal amount of this Note multiplied by the Issue Price specified (as set forth on the face hereof hereof) plus (b) the that portion of the difference between the dollar amount determined pursuant to the preceding clause (a) and the principal amount hereof that has accreted at the Yield to Maturity specified (as set forth on the face hereof hereof) (computed in accordance with generally accepted United States bond yield computation principles) to such date of declaration, redemption or repayment payment, but in no event will shall the Amortized Face Amount of this Note exceed its principal amount.

Appears in 2 contracts

Samples: Indenture (Polaroid Corp), Indenture (Polaroid Corp)

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