Common use of Payment of Principal and Interest; Method of Payment Clause in Contracts

Payment of Principal and Interest; Method of Payment. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.75% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1, 2020 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 or September 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Indenture (Redwood Trust Inc)

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Payment of Principal and Interest; Method of Payment. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.757.75% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1December 15, 2020 2022 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 June 1 or September 15December 1, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 4.01 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.755.625% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1January 15, 2020 2019 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 January 1 or September 15July 1, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Third Supplemental Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 1001 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.757.00% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April October 1, 2020 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 or September 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment DateDate (regardless of whether such Regular Record Date is a Business Day). Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: First Supplemental Indenture (Chimera Investment Corp)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 4.01 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.759.125% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually quarterly in arrears on each Interest Payment Date beginning on April June 1, 2020 2024 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March February 15, May 15, August 15 or September November 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear Payment of Principal and Interest. Payment of the principal and accrued interest on this Debenture shall be made in such coin or currency of the United States of America as at a rate the time of 5.75% per yearpayment shall be legal tender for the payment of public and private debts. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1, 2020 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 or September 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (celapsed) The on the unpaid portion of said principal amount from time to time outstanding shall be paid by the Company will pay the principal of certificated Notes at the office rate of eight percent (8%) per annum, in like coin and currency, or agency designated at the option of the Company in shares of the Company’s Common Stock (as hereinafter defined), payable to the Payee in quarterly installments on each January 1, April 1, July 1 and October 1 during the term of this Debenture (each, an “Interest Payment Date”), with the first Interest Payment Date hereunder scheduled to be January 1, 2013 and the last Interest Payment Date to be on the Maturity Date. Interest shall accrue from the Issuance Date. Both principal hereof and interest thereon are payable at the Holder’s address above or such other address as the Holder shall designate from time to time by written notice to the Company. The Company has initially designated a Corporate Trust Office will pay or cause to be paid all sums becoming due hereon for principal and interest by check, sent to the Holder’s above address or to such other address as the Holder may designate for such purpose from time to time by written notice to the Company, without any requirement for the presentation of this Debenture or making any notation thereon, except that the Holder hereof agrees that payment of the Trustee as its Paying Agent and Registrar as a place where Notes may final amount due shall be presented for payment for or registration made only upon surrender of transfer. The Company will pay any interest on any certificated Note this Debenture to the Company for cancellation. Prior to any sale or other disposition of this instrument, the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal hereof agrees to endorse hereon the amount of Notes, by check mailed principal paid hereon and the last date to such Holder’s registered address, which interest has been paid hereon and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that notify the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during name and address of the period beginning on transferee in accordance with the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer terms of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, Global Notes in immediately available funds to the DepositarySection 2.2 of this Debenture.

Appears in 1 contract

Samples: Subscription Agreement (Copytele Inc)

Payment of Principal and Interest; Method of Payment. No interest shall accrue on this Note from the date hereof through and including April 30, 1997. Thereafter, interest on the unpaid portion of said principal amount from time to time outstanding shall be paid by the Company at the rate of one percent per annum over the prime rate charged from time to time by Citibank N.A. (the "Stated Interest Rate") as of April 30, 1997 and as adjusted on the last day of each 6-month period thereafter, said interest payable to the Payee monthly commencing June 1, 1997 and for each of the six consecutive calendar months thereafter, followed by sixty monthly consecutive level payments of principal and together with interest, with the final maturity of this Note on April 30, 2002. Assuming no prepayments by the Company pursuant to Section 10 hereof, the first six payments hereunder shall be $____________ each, and the next sixty payments hereunder shall be $___________ each. If any installment of principal or interest on this Note is not paid within thirty (30) days of the applicable Payment Date, all amounts remaining owing under this Note shall bear interest at the rate of 2% over the otherwise applicable stated Interest Rate, to the extent that payment of such interest on overdue amounts is enforceable under applicable law, until all such arrearages have been cured by the Company. The Company covenants and agrees that it shall duly and punctually will pay or cause to be paid the all sums becoming due hereon for principal of and interest (including Additional Interestby check sent to the Holder's above address or to such other address as Holder may designate for such purpose from time to time by written notice to the Company, if any), on each without any requirement for the presentation of this Note or making any notation thereon except that the Notes at Holder hereof agrees to endorse hereon the places, at amount of principal paid hereon and the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.75% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent last date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1, 2020 (or beginning on such other date as may be set forth in hereon and to notify the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 or September 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis Company of the number name and address of days actually elapsed in a 30-day monthany transferee. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Convertible Promissory Note (Discas Inc)

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Payment of Principal and Interest; Method of Payment. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.755.625% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1May 15, 2020 (or beginning on such other date as may be set forth in the certificate representing the applicable Note)2015. Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 May 1 or September 15November 1, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 4.01 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.754.625% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1October 15, 2020 (or beginning on such other date as may be set forth in the certificate representing the applicable Note)2013. Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 April 1 or September 15October 1, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: First Supplemental Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 4.01 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.759.00% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually quarterly in arrears on each Interest Payment Date beginning on April September 1, 2020 2024 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March February 15, May 15, August 15 or September November 15, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Fifth Supplemental Indenture (Redwood Trust Inc)

Payment of Principal and Interest; Method of Payment. This Section 3.01 shall, with respect to the Notes, replace Section 4.01 of the Base Indenture in its entirety. The Company covenants and agrees that it shall duly and punctually pay or cause to be paid the principal of and interest (including Additional Interest, if any), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. (a) The Notes will bear interest at a rate of 5.754.75% per year. Interest on the Notes will accrue from and including the initial date of issuance, or from the most recent date to which interest has been paid or duly provided for. Interest will be payable semiannually in arrears on each Interest Payment Date beginning on April 1February 15, 2020 2018 (or beginning on such other date as may be set forth in the certificate representing the applicable Note). Pursuant to Section 3.08 and Section 7.02 of this Indenture, in certain circumstances, the Holders of Notes shall be entitled to receive Additional Interest. (b) Interest (including Additional Interest, if any) will be paid to the person in whose name a Note is registered at the Close of Business on March 15 February 1 or September 15August 1, as the case may be (the “Regular Record Date”), immediately preceding the relevant Interest Payment Date. Interest on the Notes will be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month. (c) The Company will pay the principal of certificated Notes at the office or agency designated by the Company. The Company has initially designated a Corporate Trust Office of the Trustee as its Paying Agent and Registrar as a place where Notes may be presented for payment for or registration of transfer. The Company will pay any interest on any certificated Note to the Holder of such Note (i) if such Holder holds $2,000,000 or less aggregate principal amount of Notes, by check mailed to such Holder’s registered address, and (ii) if such Holder holds more than $2,000,000 aggregate principal amount of Notes, (A) by check mailed to such Holder’s registered address or, (B) if such Holder delivers to the Registrar a written request that the Company make such payments by wire transfer to an account of such Holder within the United States, for each interest payment corresponding to each Regular Record Date occurring during the period beginning on the date on which such Holder delivered such request and ending on the date, if any, on which such Holder delivers to the Registrar a written instruction to the contrary, by wire transfer of immediately available funds to the account specified by such Holder. The Company shall pay the principal of, and interest on, on Global Notes in immediately available funds to the Depositary.

Appears in 1 contract

Samples: Second Supplemental Indenture (Redwood Trust Inc)

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