Common use of Repurchase at Option of Holder Upon Fundamental Change Clause in Contracts

Repurchase at Option of Holder Upon Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Stated Maturity, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 Business Days or more than 35 Business Days following the date of the Fundamental Change Company Notice at a repurchase price payable in cash equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest (to, but not including, such Interest Payment Date) to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the Principal Amount of Notes to be repurchased pursuant to this ARTICLE 10.

Appears in 2 contracts

Samples: Indenture (Akoustis, Inc.), Indenture (Akoustis Technologies, Inc.)

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Repurchase at Option of Holder Upon Fundamental Change. (a) If a Fundamental Change occurs at any time prior to the Stated Maturity, each Holder shall have the right, at such Holder’s option, to require the Company to repurchase for cash all of such Holder’s Notes, or any portion thereof that is equal to $1,000 or an integral multiple of $1,000, on the date (the “Fundamental Change Repurchase Date”) specified by the Company that is not less than 20 Business Days or more than 35 Business Days following the date of the Fundamental Change Company Notice at a repurchase price payable in cash equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest thereon to, but excluding, the Fundamental Change Repurchase Date (the “Fundamental Change Repurchase Price”), unless the Fundamental Change Repurchase Date falls after a Regular Record Date but on or prior to the Interest Payment Date to which such Regular Record Date relates, in which case the Company shall instead pay the full amount of accrued and unpaid interest (to, but not including, such Interest Payment Date) to Holders of record as of such Regular Record Date, and the Fundamental Change Repurchase Price shall be equal to 100% of the Principal Amount of Notes to be repurchased pursuant to this ARTICLE 10.

Appears in 2 contracts

Samples: First Supplemental Indenture (Akoustis Technologies, Inc.), Indenture (Akoustis Technologies, Inc.)

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