Common use of Payment of Convertible Debentures Called for Redemption Clause in Contracts

Payment of Convertible Debentures Called for Redemption. If notice of redemption has been given as above provided, the Convertible Debentures or portions of Convertible Debentures specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption, and on and after said date (unless the Company shall default in the payment of such Convertible Debentures at the redemption price, together with interest accrued to said date) interest on the Convertible Debentures or portions of Convertible Debentures so called for redemption shall cease to accrue, and, except as provided in Section 6.1, such Convertible Debentures shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Convertible Debentures except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Convertible Debentures at a Place of Payment specified in said notice, said Convertible Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided that, payment of interest becoming due on or prior to the date fixed for redemption shall be payable to the Holders of such Convertible Debentures registered as such on the relevant record date subject to the terms and provisions of Section 2.9 hereof. If any Convertible Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed for redemption at the Coupon Rate. Upon presentation of any Convertible Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to or on the order of the Holder thereof, at the expense of the Company, a new Convertible Debenture or Convertible Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Convertible Debenture so presented.

Payment of Convertible Debentures Called for Redemption. If notice of redemption has been given as above provided, the Convertible Debentures or portions of Convertible Debentures specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemptionRedemption Price, and on and after said date (unless the Company shall default in the payment of such Convertible Debentures at the redemption price, together with interest accrued to said dateRedemption Price) interest on the Convertible Debentures or portions of Convertible Debentures so called for redemption shall cease to accrue, and, except as provided in Section 6.1, such Convertible Debentures shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders thereof shall have no right in respect of such Convertible Debentures except the right to receive the redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Convertible Debentures at a Place of Payment specified in said notice, said Convertible Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided that, payment of interest becoming due on or prior to the date fixed for redemption shall be payable to the Holders of such Convertible Debentures registered as such on the relevant record date subject to the terms and provisions of Section 2.9 hereof. If any Convertible Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed for redemption at the Coupon Rate. Upon presentation of any Convertible Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to or on the order of the Holder thereof, at the expense of the Company, a new Convertible Debenture or Convertible Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Convertible Debenture so presented.