Redemption with Proceeds of Equity Offering. At any time and from time to time prior to October 15, 2015, the Company may redeem Notes with the net cash proceeds received by the Company from any Equity Offering at a redemption price equal to 105.750% of the principal amount plus accrued and unpaid interest to the Redemption Date, in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the Notes, including Additional Notes, provided that
(1) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(2) not less than 65% of the original aggregate principal amount of the Notes issued (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to February 1, 2023, the Issuer may redeem Notes with the net cash proceeds received by the Issuer from any Equity Offering at a redemption price equal to 105.000% of the principal amount plus accrued and unpaid interest, if any, to but excluding the redemption date, in an aggregate principal amount for all such redemptions not to exceed 40% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of any Additional Notes), provided that:
(1) in each case the redemption takes place not later than 180 days after the closing of the related Equity Offering; and
(2) not less than 50% of the principal amount of the Notes (calculated after giving effect to any Additional Notes issued under this Indenture) remains outstanding immediately thereafter excluding any Notes held by the Issuer or its Subsidiaries (unless all Notes are otherwise redeemed substantially concurrently).
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to June 1, 2015, the Company may redeem the Notes with the net cash proceeds received by the Company from one or more Equity Offerings at a redemption price equal to 110.000% of the principal amount plus accrued and unpaid interest, if any, to, but excluding, the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the Notes, including Additional Notes, provided that:
(1) in each case, the redemption takes place not later than 90 days after the closing of the related Equity Offering; and
(2) not less than 65% of the aggregate principal amount of the Notes originally issued under this Indenture, including Additional Notes, remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to December 15, 2017, the Company may redeem the Notes with an amount of cash equal to the net cash proceeds received by the Company from one or more Equity Offerings at a redemption price equal to 106.125% of the principal amount plus accrued and unpaid interest to the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the aggregate principal amount of the Notes issued under this Indenture (calculated after giving effect to any issuance of Additional Notes), provided that
(1) in each case the redemption takes place not later than 90 days after the closing of the related Equity Offering, and
(2) not less than 65% of the aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) issued under the Indenture remains outstanding immediately thereafter. Notice of any redemption upon any Equity Offering may be given prior to the completion of the related Equity Offering, and any such redemption or notice may, at the Company’s discretion, be subject to one or more conditions precedent, including but not limited to, completion of the related Equity Offering.
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to April 15, 2014, the Issuer may redeem Notes with the net cash proceeds received by the Issuer from any Equity Offering of Hovnanian at a redemption price equal to 111.875% of the principal amount plus accrued and unpaid interest to the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the Notes (including Additional Notes) provided that:
(a) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(b) not less than 65% of the original aggregate principal amount of the Notes (including Additional Notes) remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. (a) At any time and from time to time prior to November 1, 2014, the Issuer may redeem 2.00% Notes with the net cash proceeds received by the Issuer from any Equity Offering at a redemption price equal to 102% of the principal amount plus accrued and unpaid interest to the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the 2.00% Notes (including Additional Notes of such series), provided that:
(i) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(ii) not less than 65% of the original aggregate principal amount of the 2.00% Notes (including Additional Notes of such series) remains outstanding immediately thereafter.
(b) At any time and from time to time prior to November 1, 2014, the Issuer may redeem 5.00% Notes with the net cash proceeds received by the Issuer from any Equity Offering at a redemption price equal to 105% of the principal amount plus accrued and unpaid interest to the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the original aggregate principal amount of the 5.00% Notes (including Additional Notes of such series), provided that:
(i) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(ii) not less than 65% of the original aggregate principal amount of the 5.00% Notes (including Additional Notes of such series) remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to April 1, 2024, upon not less than 15 nor more than 60 days’ notice to holders, the Company may redeem Notes with the net cash proceeds received by the Company from any Equity Offering at a redemption price equal to 107.500% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to, but not including, the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the aggregate principal amount of the Notes originally issued under this Indenture (calculated after giving effect to any issuance of Additional Notes), provided that
(a) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(b) not less than 65% of the aggregate principal amount of the Original Notes (calculated after giving effect to any issuance of Additional Notes) remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. At any time and from time to time prior to July 1, 2021, the Company may redeem Notes with the net cash proceeds received by the Company from any Equity Offering at a redemption price equal to 110% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to, but not including, the redemption date, in an aggregate principal amount for all such redemptions not to exceed 35% of the aggregate principal amount of the Notes originally issued under this Indenture (calculated after giving effect to any issuance of Additional Notes and PIK Notes), provided that
(a) in each case the redemption takes place not later than 60 days after the closing of the related Equity Offering, and
(b) not less than 65% of the aggregate principal amount of the Original Notes (calculated after giving effect to any issuance of Additional Notes and PIK Notes) remains outstanding immediately thereafter.
Redemption with Proceeds of Equity Offering. At any time prior to March 15, 2006, the Company may, on any one or more occasions, redeem, in whole or in part, up to 35% of the aggregate principle amount of the Notes (including Additional Notes, if any) at a redemption price of 111.00% of the principal amount of the Notes redeemed, plus accrued and unpaid interest on the Notes redeemed to the applicable redemption date with the net cash proceeds of one or more Equity Offerings, provided that
(a) not less than 65% of the aggregate principal amount of the Notes (including Additional Notes, if any, and excluding Notes held by Playboy and its Subsidiaries) remains outstanding immediately thereafter;
(b) in each case the redemption takes place not later than 90 days after the closing of the related Equity Offering; and
(c) any such redemption shall be for at least $20 million aggregate principal amount of Notes.
Redemption with Proceeds of Equity Offering. At any time prior to November 1, 2006, the Company may redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture at a redemption price of 109.750% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the redemption date, with the net cash proceeds of one or more Equity Offerings; provided that:
(1) at least 65% of the aggregate principal amount of Notes issued under this Indenture remains outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company and its Subsidiaries); and
(2) the redemption must occur within 90 days of the date of the closing of such Equity Offering.
