Common use of Payment of Debentures Called for Redemption by the Company Clause in Contracts

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereof. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment Period. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterly, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided for.

Appears in 2 contracts

Samples: Indenture (Williams Companies Inc), Indenture (Williams Companies Inc)

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Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption and at the place or places stated in such notice at the applicable Redemption Priceredemption price, together with Interest accrued and unpaid to (but excluding) the redemption date, and on and after said date (unless the Company shall default in the payment of such Debentures at the Redemption Priceredemption price, together with Interest accrued to said date) Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the Business Day immediately preceding the Redemption Date redemption date (unless the Company shall default in the payment of such Debentures at the Redemption Price) redemption price, together with Interest accrued to said date), such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04Section 15.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereofredemption price thereof and accrued and unpaid Interest to (but excluding) the redemption date. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Priceredemption price, together with Interest accrued and unpaid thereon to, but excluding, the redemption date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures notice of redemption during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment Period. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterly, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided forDebentures.

Appears in 2 contracts

Samples: Indenture (Commscope Inc), Indenture (Commscope Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.023.03, the Debentures (or portion of Debentures portions thereof) with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest interest on the Debentures (or portion of Debentures portions thereof) so called for redemption shall cease to accrue and, after the close of business on the second Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) ), such Debentures (or portions thereof) shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures (or portions thereof) except the right to receive the Redemption Price thereofthereof pursuant to this Indenture. On presentation and surrender of such Debentures at a place of payment specified in said notice specifiednotice, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is after a record date but on, or before, an Interest Payment Date, the interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable Regular Record Date instead of the holders surrendering such Debentures (or portions thereof) for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, interest on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture (or portion thereof) called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemiannually, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest interest shall have been paid or duly provided for.

Appears in 1 contract

Samples: Convertible Senior Debentures (Tower Automotive Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.023.03, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the second Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) ), such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereof. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is an Interest Payment Date, the interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable record date instead of the holders surrendering such Debentures for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, interest on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemiannually, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest interest shall have been paid or duly provided for.

Appears in 1 contract

Samples: Indenture (Millennium Chemicals Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue (so long as the Company has deposited funds in accordance with Section 3.02(c)) and, after the close of business on the second Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.048.05, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereof. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is an Interest Payment Date, the Interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable record date instead of the holders surrendering such Debentures for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemi-annually, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided for. The Company will notify all of the holders if the Company redeems any of the Debentures.

Appears in 1 contract

Samples: Indenture (Allied Waste Industries Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the second Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.048.05, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereof. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is an Interest Payment Date, the Interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable record date instead of the holders surrendering such Debentures for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemiannually, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided for. The Company will notify all of the holders if the Company redeems any of the Debentures.

Appears in 1 contract

Samples: Indenture (Wild Oats Markets Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption and at the place or places stated in such notice at the applicable Redemption Priceredemption price, together with interest accrued to (but excluding) the redemption date, and on and after said date (unless the Company shall default in the payment of such Debentures at the Redemption Priceredemption price, together with interest accrued to said date) Interest interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the Business Day immediately preceding the Redemption Date redemption date (unless the Company shall default in the payment of such Debentures at the Redemption Priceredemption price, together with interest accrued to said date) such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04Section 14.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereofredemption price thereof and unpaid interest to (but excluding) the redemption date. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Priceredemption price, together with interest accrued thereon to, but excluding, the redemption date; provided that if the applicable redemption date is an interest payment date, the interest payable on such interest payment date shall be paid on such interest payment date to the holders of record of such Debentures on the applicable record date instead of the holders surrendering such Debentures for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures notice of redemption during the continuance of a default in payment of Interest interest or premium, if any, on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest from the redemption date at a rate equal to 1% per annum plus the rate borne by the Debenture, compounded quarterly, Debenture and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest interest shall have been paid or duly provided for.

Appears in 1 contract

Samples: Indenture (Wilson Greatbatch Technologies Inc)

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Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) ). Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, and the principal amount of the Debentures will cease to accrete on and after the close of business on the Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) and after the close of business on the second Business Day immediately preceding the Redemption Date, such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.048.05, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereof. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is an Interest Payment Date, the Interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable record date instead of the holders surrendering such Debentures for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount Original Principal Amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemi-annually, and such Debenture shall remain convertible into Common Stock, cash or a combination of cash and Common Stock until the principal and premium, if any, Accreted Principal Amount and Interest shall have been paid or duly provided for. The Company will notify all of the holders if the Company redeems any of the Debentures.

Appears in 1 contract

Samples: Indenture (Kellwood Co)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption and at the place or places stated in such notice at the applicable Redemption Priceredemption price, together with Interest accrued and unpaid to (but excluding) the redemption date, and on and after said date (unless the Company shall default in the payment of such Debentures at the Redemption Priceredemption price, together with Interest accrued to said date) Interest on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the Business Day immediately preceding the Redemption Date redemption date (unless the Company shall default in the payment of such Debentures at the Redemption Price) redemption price, together with Interest accrued to said date), such Debentures shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04Section 15.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereofredemption price thereof and accrued and unpaid Interest to (but excluding) the redemption date. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Priceredemption price, together with Interest accrued and unpaid thereon to, but excluding, the redemption date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures notice of redemption during the continuance of a default in payment of Interest or premium, if any, on the Debentures or during any Extended Interest Payment Period. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterly, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided forDebentures.

Appears in 1 contract

Samples: Indenture (Gencorp Inc)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.02, the Debentures or portion of Debentures with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereofArticle 17, become due and payable on the date fixed for redemption and at the place or places stated in such notice at the applicable Redemption Priceredemption price, together with Interest and Additional Amounts, if any, accrued and unpaid to (but excluding) the redemption date, and on and after said date (unless the Company shall default in the payment of such Debentures at the Redemption Priceredemption price, together with Interest and Additional Amounts, if any, accrued to said date) Interest and Additional Amounts, if any, on the Debentures or portion of Debentures so called for redemption shall cease to accrue and, after the close of business on the Business Day immediately preceding the Redemption Date redemption date (unless the Company shall default in the payment of such Debentures at the Redemption Price) redemption price, together with Interest and Additional Amounts, if any, accrued to said date), such Debentures shall cease to be convertible into Common Stock pursuant to Article 17 and, except as provided in Section 9.05 and 13.049.05, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures except the right to receive the Redemption Price thereofredemption price thereof and accrued and unpaid Interest and Additional Amounts, if any, to (but excluding) the redemption date. On presentation and surrender of such Debentures at a place of payment in said notice specified, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Priceredemption price, together with Interest and Additional Amounts, if any, accrued and unpaid thereon to, but excluding, the redemption date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and and, upon the request of the Company, the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures notice of redemption during the continuance of a default in payment of Interest or premiumAdditional Amounts, if any, on the Debentures or during any Extended Interest Payment Period. If any Debenture called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterly, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest shall have been paid or duly provided forDebentures.

Appears in 1 contract

Samples: Indenture (Genesis Healthcare Corp)

Payment of Debentures Called for Redemption by the Company. If notice of redemption has been given as provided in Section 3.023.03, the Debentures (or portion of Debentures portions thereof) with respect to which such notice has been given shall, unless converted into Common Stock pursuant to the terms hereof, become due and payable on the date fixed for redemption Redemption Date and at the place or places stated in such notice at the applicable Redemption Price, and on and after said date the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) Interest interest on the Debentures (or portion of Debentures portions thereof) so called for redemption shall cease to accrue and, after the close of business on the second Business Day immediately preceding the Redemption Date (unless the Company shall default in the payment of such Debentures at the Redemption Price) ), such Debentures (or portions thereof) shall cease to be convertible into Common Stock and, except as provided in Section 9.05 and 13.04, to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no right in respect of such Debentures (or portions thereof) except the right to receive the Redemption Price thereofthereof pursuant to this Indenture. On presentation and surrender of such Debentures at a place of payment specified in said notice specifiednotice, the said Debentures or the specified portions thereof shall be paid and redeemed by the Company at the applicable Redemption Price; provided that if the applicable Redemption Date is an Interest Payment Date, the interest payable on such Interest Payment Date shall be paid on such Interest Payment Date to the holders of record of such Debentures on the applicable Regular Record Date instead of the holders surrendering such Debentures (or portions thereof) for redemption on such date. Upon presentation of any Debenture redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Debenture or Debentures, of authorized denominations, in principal amount equal to the unredeemed portion of the Debentures so presented. Notwithstanding the foregoing, the Trustee shall not redeem less than all the outstanding any Debentures or mail any Redemption Notice with respect to less than all the outstanding Debentures during the continuance of a default in payment of Interest or premium, if any, interest on the Debentures or during any Extended Interest Payment PeriodDebentures. If any Debenture (or portion thereof) called for redemption shall not be so paid upon surrender thereof for redemption, the principal and premium, if any, shall, until paid or duly provided for, continue to bear interest at the rate borne by the Debenture, compounded quarterlysemiannually, and such Debenture shall remain convertible into Common Stock until the principal and premium, if any, and Interest interest shall have been paid or duly provided for.

Appears in 1 contract

Samples: Indenture (Graftech International LTD)

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