Common use of Redemption and Distribution Clause in Contracts

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at maturity or upon redemption (either at the option of the Debenture Issuer or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $ per Security plus an amount equal to accrued and unpaid Distributions thereon at the date of the redemption, payable in cash (the “Redemption Price”). Holders will be given not less than 30 nor more than 60 days notice of such redemption.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement (Allstate Financing X)

AutoNDA by SimpleDocs

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity or upon redemption (either at the option of the Debenture Issuer Sponsor or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $ per Security plus an amount equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon at through the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 nor more than 60 days days' notice of such redemption.

Appears in 2 contracts

Samples: Nuevo Energy Co, Bay View Capital Corp

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at maturity or upon redemption (either at the option of the Debenture Issuer or pursuant to a Special Tax Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $ $1,000 per Trust Security plus an amount equal to accrued and unpaid Distributions thereon at the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 nor more than 60 days days' notice of such redemption.

Appears in 1 contract

Samples: Guarantee Agreement (Land O Lakes Inc)

AutoNDA by SimpleDocs

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at maturity or upon redemption (either at the option of the Debenture Issuer or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $ per Security plus an amount equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon at through the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 20 nor more than 60 days notice of such redemption.

Appears in 1 contract

Samples: Exchange Agreement (Insignia Financial Group Inc /De/)

Time is Money Join Law Insider Premium to draft better contracts faster.