Repayment Option. If so specified in any Note, the beneficial owner of that Note shall have the option to elect repayment of such Note (the "Repayment Option") upon delivery of an irrevocable notice of exercise of such option to the Company and the Trustee. Such notice shall be delivered at least 30, but no more than 60 days prior to the next Interest Payment Date proposed as the date for repayment. Repurchases of Notes upon exercise of the Repayment Option shall occur only on an Interest Payment Date. Unless otherwise specified in the Note, such repayment shall be paid at a price equal to 100% of the principal amount of the beneficial interest subject to such repayment, plus accrued interest to the date of such repayment. The Note may prescribe an alternate purchase price formula. In order for a Repayment Option to be validly exercised with respect to any Note (or portion thereof), the Trustee must receive from the beneficial owner of such Note (i) a written request for repayment signed by the beneficial owner of such Note, with signature guaranteed by a member firm of a registered national securities exchange or of the NASD or a commercial bank or trust company having an office or correspondent in the United States, (ii) tender of the Note (or portion thereof) to be repaid, (iii) appropriate evidence satisfactory to the Trustee that such individual is the owner of a beneficial interest in such Note and (iv) if applicable, a properly executed assignment or endorsement. For Notes represented by a Global Note, the Depository or its nominee shall be the holder of such Note and therefore shall be the only entity that can exercise the Repayment Option for such Note. To obtain repayment pursuant to exercise of the Repayment Option with respect to such Note, the beneficial owner of such Note must provide to the broker or other entity through which the beneficial interest in such Note is held by such beneficial owner (i) the documents described in clauses (i) and (iii) of the preceding paragraph and (ii) instructions to such broker or other entity to notify the Depository of such beneficial owner's desire to obtain repayment pursuant to exercise of the Repayment Option.
Appears in 2 contracts
Samples: Indenture (Bank of America Corp /De/), Bank of America Corp /De/
Repayment Option. If so specified in any Note, the beneficial owner of that Note shall have the option to elect repayment of such Note (the "Repayment Option") upon delivery of an irrevocable notice of exercise of such option to the Company and the Trustee. Such notice shall be delivered at least 30, but no more than 60 days prior to the next Interest Payment Date proposed as the date for repayment. Repurchases of Notes upon exercise of the Repayment Option shall occur only on an Interest Payment Date. Unless otherwise specified in the Note, such repayment shall be paid at a price equal to 100% of the principal amount of the beneficial interest subject to such repayment, plus accrued interest to the date of such repayment. The Note may prescribe an alternate purchase price formula. In order for a Repayment Option to be validly exercised with respect to any Note (or portion thereof), the Trustee must receive from the beneficial owner of such Note (i) a written request for repayment signed by the beneficial owner of such Note, with signature guaranteed by a member firm of a registered national securities exchange or of the NASD or a commercial bank or trust company having an office or correspondent in the United States, (ii) tender of the Note (or portion thereof) to be repaid, (iii) appropriate evidence satisfactory to the Trustee that such individual is the owner of a beneficial interest in such Note and (iv) if applicable, a properly executed assignment or endorsement. For Notes represented by a Global Note, the Depository or its nominee shall be the holder of such Note and therefore shall be the only entity that can exercise the Repayment Option for such Note. To obtain repayment pursuant to exercise of the Repayment Option with respect to such Note, the beneficial owner of such Note must provide to the broker or other entity through which the beneficial interest in such Note is held by such beneficial owner (i) the documents described in clauses (i) and (iii) of the preceding paragraph and (ii) instructions to such broker or other entity to notify the Depository of such beneficial owner's desire to obtain repayment pursuant to exercise of the Repayment Option.
Appears in 2 contracts
Samples: Indenture (Bank of America Corp /De/), Bank of America Corp /De/
Repayment Option. If so specified in any Note, the beneficial owner of that Note shall have the option to elect repayment or repurchase of such Note (the "Repayment Option") upon delivery of an irrevocable notice of exercise of such option to the Company and the Trustee. Such notice shall be delivered at least 30, 30 but no more than 60 days prior to the next Interest Payment Date proposed as the date for repaymentrepayment or repurchase. Repurchases of Notes upon exercise of the Repayment Option shall occur only on an Interest Payment Date. Unless otherwise specified in the Note, such repayment or repurchase shall be paid at a price equal to 100% of the principal amount of the beneficial interest subject to such repaymentrepayment or repurchase, plus accrued interest to the date of such repaymentrepayment or repurchase. The Note may prescribe an alternate purchase price formula. In order for a Repayment Option to be validly exercised with respect to any Note (or portion thereof), the Trustee must receive from the beneficial owner of such Note (i) a written request for repayment or repurchase signed by the beneficial owner of such Note, with signature guaranteed by a member firm of a registered national securities exchange or of the NASD or a commercial bank or trust company having an office or correspondent in the United States, (ii) tender of the Note (or portion thereof) to be repaidrepaid or repurchased, (iii) appropriate evidence satisfactory to the Trustee that such individual is the beneficial owner of a beneficial interest in such Note and (iv) if applicable, a properly executed assignment or endorsement. For Notes represented by a Global Note, the Depository Depositary or its nominee shall be the holder of such Note and therefore shall be the only entity that can exercise the Repayment Option for such Note. To obtain repayment or repurchase pursuant to exercise of the Repayment Option with respect to such Note, the beneficial owner of such Note must provide to the broker or other entity through which the beneficial interest in such Note is held by such beneficial owner (i) the documents described in clauses (i) and (iii) of the preceding paragraph and (ii) instructions to such broker or other entity to notify the Depository Depositary of such beneficial owner's desire to obtain repayment or repurchase pursuant to exercise of the Repayment Option. In addition, the beneficial owner shall provide the Trustee with such additional information and documentation as the Trustee shall reasonably request.
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