Right to Additional Interest Sample Clauses

Right to Additional Interest. In addition to all other amounts ---------------------------- provided in this Note and the Other Notes to be paid by the Company, the Holder and the registered holders of the Other Notes shall be entitled to payments based on a portion of the Net Revenues of the Products and the Competitive Products in the Territory during the Payment Period. The amount of such payments based on a portion of such Net Revenues of the Products and the Competitive Products during any Determination Period shall be the product obtained by multiplying (x) an amount equal to the Net Revenues from the Products and the Competitive Products in the Territory during such Determination Period times (y) the Payment Percentage in effect during such Determination Period, with each change therein during such Determination Period being given effect (such product, the "Noteholder Payment Amount"). Based on the U.S. federal income tax laws in effect on the Issuance Date, the Company intends to treat the Noteholder Payment Amounts as additional interest on this Note for U.S. federal income tax purposes. The Company shall remain obligated to make payments to the Holder pursuant to this Article II notwithstanding the payment or redemption of all or any portion of this Note.
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Right to Additional Interest. 3 Section 1.04 Special Xxxxxxxx Leases.............................7 Section 1.05 Closing.............................................8 Section 1.06 Subsidiaries........................................8 Section 1.07 Romanian License Excluded...........................8
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Right to Additional Interest. (a) The Purchasers shall have the right but not the obligation to purchase at their sole option an additional 5% undivided interest in the Company Parties' right, title and interest in the leases and rights conveyed to the Purchasers pursuant to Section 1.01, more particularly defined as the "Additional Interest" in Section 1.03(g) below, by paying additional consideration to the Company in the amount of $10,500,000 in the manner and under the terms described in (b) below.
Sample 1
Right to Additional Interest. The Pxxxxxxxxx xxxxx xxxx xxx right but not the obligation to purchase at their sole option an additional 5% undivided interest in the Company Parties' right, title and interest in the leases and rights conveyed to the Purchasers pursuant to Section 1.01, more particularly defined as the "Additional Interest" in Section 1.03(g) below, by paying additional consideration to the Company in the amount of $10,500,000 in the manner and under the terms described in (b) below. Upon receipt by the Company of a payment in the amount of $5,250,000 (the "First Option Payment") on or before January 1, 2004, then the Company will execute and deliver to the Purchasers an assignment of one-half of the Additional Interest (the "First One-Half Interest") substantially in the form (except for the amount of the interest being conveyed and the effective date) as the Closing Assignment set forth in Exhibit C-1. Upon receipt by the Company of the remaining payment of $5,250,000 (the "Second Option Payment") on or before January 1, 2005, the Company will execute and deliver to the Purchasers an assignment of the second one-half of the Additional Interest (the "Second One-Half Interest") substantially in the form (except for the interest being conveyed and the effective date) as the Closing Assignment set forth in Exhibit C-1. If the Purchasers fail to pay the First Option Payment on the due date thereof, the Purchasers shall forfeit their right to acquire any Additional Interest hereunder. If the Purchasers timely pay the First Option Payment but fail to pay the Second Option Payment on or before the due date thereof, the Purchasers shall forfeit their right to acquire the Second One-Half Interest. The obligations of the Purchasers to timely pay the First Option Payment and the Second Option Payment (collectively, the "Option Payments") hereunder in order to exercise their right to acquire the Additional Interest shall be absolute and unconditional and shall not be affected or reduced by any circumstances, including, without limitation, (i) any setoff (except for the reduction described in Section 6.18, if applicable), counterclaim, recoupment, defense or other right which a Purchaser may have against a Company Party or any other third party; (ii) any defect in title to the Properties to which the Purchasers will receive an interest hereunder; (iii) any disputes arising under or rights asserted by the Purchasers under any lease, operating agreement, farm-out agreement or similar ...
Sample 1

Related to Right to Additional Interest

  • Payment of Additional Interest (a) Under certain circumstances the Company will be obligated to pay certain additional amounts of interest to the Holders of certain Initial Notes, as more particularly set forth in such Initial Notes.

  • Accrual of Additional Interest (i) If, at any time during the six (6) month period beginning on, and including, the date that is six (6) months after the Last Original Issue Date of any Note,

  • Fractional Interest The Original Class B-1 Fractional Interest is 1.90351723%.

  • Additional Interests If any Pledgor shall at any time acquire or hold any additional Pledged Interests, including any Pledged Interests issued by any Subsidiary not listed on Schedule I hereto which are required to be subject to a Lien pursuant to a Pledge Agreement by the terms hereof or of any provision of the Revolving Credit Agreement (any such shares being referred to herein as the “Additional Interests”), such Pledgor shall deliver to the Administrative Agent for the benefit of the Revolving Secured Parties (i) a Pledge Agreement Supplement in the form of Exhibit A hereto with respect to such Additional Interests duly completed and executed by such Pledgor and (iii) any other document required in connection with such Additional Interests as described in Section 2(c). Each Pledgor shall comply with the requirements of this Section 21 concurrently with the acquisition of any such Additional Interests or, in the case of Additional Interests to which Section 6.14 of the Revolving Credit Agreement applies, within the time period specified in such Section or elsewhere in the Revolving Credit Agreement with respect to such Additional Interests; provided, however, that the failure to comply with the provisions of this Section 21 shall not impair the Lien on Additional Interests conferred hereunder.

  • Elimination of Fractional Interests The Company shall not be required to issue certificates representing fractions of Shares upon the exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole number of Shares or other securities, properties or rights.

  • Additional Interest Notice In the event that the Company is required to pay Additional Interest to Holders of Notes pursuant to the Registration Rights Agreement, the Company will provide written notice (“Additional Interest Notice”) to the Trustee of its obligation to pay Additional Interest no later than 15 days prior to the proposed payment date for the Additional Interest, and the Additional Interest Notice shall set forth the amount of Additional Interest to be paid by the Company on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest.

  • Payment of Additional Amounts (a) The Issuer and the Guarantor shall pay, in respect of any payment of principal of, and any premium and interest on the Notes, to a registered holder or beneficial owner thereof that, in the case of payment by the Issuer, is not a resident of the jurisdiction of incorporation or residence for tax purposes of the Issuer or any successor entity, or any political subdivision or taxing authority thereof or therein (the “Issuer Jurisdiction”), or in the case of payment by the Guarantor, is not a resident of the jurisdiction of incorporation or residence for tax purposes of the Guarantor or any successor entity, or any political subdivision or taxing authority thereof or therein (the “Guarantor Jurisdiction”, and together with the Issuer Jurisdiction, the “Relevant Jurisdictions”) for purposes of taxation, such additional amounts (“Additional Amounts”) as may be necessary so that the net amount received by such registered holder or beneficial owner of a Note, after deduction or withholding for any and all present and future tax, levy, impost or other governmental charge whatsoever imposed, assessed, levied or collected by or for the account of the United States, the United Kingdom or any political subdivision thereof or any authority thereof having the power to tax, or any other Relevant Jurisdiction (“Taxes”) will not be less than the amount such holder would have received if such Taxes had not been withheld or deducted; provided, however, that neither the Issuer nor the Guarantor shall be required to pay any Additional Amounts for or on account of:

  • Fractional Interests In computing adjustments under this Section 4, fractional interests in Common Stock shall be taken into account to the nearest one one-hundredth (1/100th) of a share.

  • Additional Interest Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall, for the first 365 days after the occurrence of such an Event of Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to (x) 0.25% per annum of the principal amount of the Notes outstanding for each day during the first 180 days after the occurrence of such Event of Default and (y) 0.50% per annum of the principal amount of the Notes outstanding from the 181st day to, and including, the 365th day following the occurrence of such Event of Default, as long as such Event of Default is continuing. Subject to the last paragraph of this Section 6.03, Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 366th day after such Event of Default (if the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) is not cured or waived prior to such 366th day), the Notes shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 365 days after the occurrence of any Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election for failure to comply with its obligations as set forth in Section 4.06(b) as set forth in this Section 6.03, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

  • Shares of Beneficial Interest The Trust is authorized (A) to issue one or more series of beneficial interests within the meaning of Section 3804(a) of the Delaware Act, which shall constitute the Trust's Portfolio(s), and (B) to divide the shares of any Portfolio into one or more separate and distinct Classes. The beneficial interests of the Trust shall be divided into an unlimited number of Shares, with par value of $0.01 per Share. All Shares issued hereunder, including without limitation, Shares issued in connection with a dividend or other distribution in Shares or a split or reverse split of Shares, shall be fully paid and nonassessable.

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