Common use of Right to Redeem; Notices to Trustee Clause in Contracts

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, in whole or in part, at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, if the Last Reported Sale Price of the Common Shares has been at least 150% of the applicable Conversion Price for at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides the relevant Redemption Notice. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, plus (B) accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed). (c) The Company may not redeem any Securities unless all accrued and unpaid interest thereon has been or is simultaneously paid for all semiannual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 2 contracts

Samples: Indenture (Convergys Corp), Indenture (Convergys Corp)

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Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September October 15, 20102013, if a any Tax Triggering Event has occurred; and (ii) on or after September 15October 20, 20192022, if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least greater than or equal to 150% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i7.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, redeemed plus (BA) accrued and unpaid interest Interest to, but excluding, the Redemption Date and (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (CB) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 9580% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current their Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii7.01(a)(ii), 100% of the Principal Amount of Securities being to be redeemed, plus together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Securities are redeemed on or prior to the immediately succeeding any Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.017.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Wellpoint, Inc)

Right to Redeem; Notices to Trustee. (a) The Securities Except as provided below, the Notes are not redeemable by the Company prior to August 5, 2013. On or after August 5, 2013, the Notes may be redeemed, redeemed for Cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Closing Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and pursuant to Section 11.01(a) shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date falls (and in this circumstance, the Make-Whole Premium shall be calculated based on the present values of the remaining scheduled payments of interest on such Notes, starting with the next Interest Payment Date for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of this Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption prior to August 5, 2015, the Company shall pay the Make-Whole Premium with respect to the Notes called for redemption to Holders in Cash, including with respect to Notes converted into Common Stock pursuant to the terms of the Indenture after the date of the notice of redemption sent pursuant to Section 11.03 of this Indenture and prior to such Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the Holder holders of record as of such Notes on the applicable Regular Record Date instead of the close of business holders surrendering such Notes for redemption on such Record Date and the Redemption Date. (d) On or after August 5, 2015, the Company may redeem for Cash all or part of the Notes. The Redemption Price shall be will equal to the sum of 100% of the Principal Amount principal amount of the Securities being Notes to be redeemed), plus accrued and unpaid interest, including Additional Interest, if any, to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date and prior to the Interest Payment Date to which it relates, then the accrued and unpaid interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date. (ce) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated. In addition, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Companyredeem any Notes or deliver to any Holder a notice of redemption pursuant to Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest.

Appears in 1 contract

Samples: Indenture (Micron Technology Inc)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15June 7, 20102008, if a any Tax Triggering Event has occurred; and (ii) on or after September December 15, 20192017, if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least greater than or equal to 150% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i7.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, redeemed plus (BA) accrued and unpaid interest Interest to, but excluding, the Redemption Date and (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (CB) if the Current Conversion Parity Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 9591% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current their Conversion Parity Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii7.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Securities are redeemed on or prior to the immediately succeeding any Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. In addition, the Company may not redeem any Securities or deliver to any Holder of Securities a notice of redemption pursuant to Section 7.03 during any Extension Period or at any time when there exists any accrued and unpaid Deferred Interest. (d) No Securities may be redeemed if Notwithstanding any other provision of this Indenture, the Principal Amount Company will make at least 20 Regular Interest payments to the Holders (including the Regular Interest payment due on December 15, 2017) in the full amount required hereunder before any redemption of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior pursuant to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such SecuritiesSection 7.01(a)(ii). (e) Except as provided in this Section 6.017.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Microchip Technology Inc)

Right to Redeem; Notices to Trustee. (a) The Securities Except as provided below, the Notes are not redeemable by the Company prior to May 1, 2017. On or after May 1, 2017, the Notes may be redeemed, redeemed for Cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Volume Weighted Average Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and pursuant to Section 11.01(a) shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium, if applicable; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date falls (and in this circumstance, the Make-Whole Premium shall be calculated based on the present values of the remaining scheduled payments of interest on such Notes, starting with the next Interest Payment Date for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of this Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption prior to May 4, 2021, the Company shall pay the Make-Whole Premium with respect to the Notes called for redemption to Holders in Cash, including with respect to Notes converted into Common Stock pursuant to the terms of the Indenture after the date of the notice of redemption sent pursuant to Section 11.03 of this Indenture and prior to such Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the Holder holders of record as of such Notes on the applicable Regular Record Date instead of the close of business holders surrendering such Notes for redemption on such Record Date and the Redemption Price shall be Date. (d) On or after May 4, 2021, the Company may redeem for Cash all or part of the Notes at a redemption price equal to the sum of 100% of the Principal Amount principal amount of the Securities being Notes to be redeemed), plus accrued and unpaid interest, including Additional Interest, if any, to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date and prior to the Interest Payment Date to which it relates, then the accrued and unpaid interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date. (ce) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated. In addition, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Companyredeem any Notes or deliver to any Holder a notice of redemption pursuant to Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest.

Appears in 1 contract

Samples: Indenture (Micron Technology Inc)

Right to Redeem; Notices to Trustee. (a) The Securities Notes are not redeemable by the Company prior to August 20, 2013. On or after August 20, 2013, the Notes may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Price of the Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period ending on the Trading Day immediately preceding prior to the date on which the Company provides the relevant Redemption NoticeNotice of Redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: to the sum of (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal amount of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the Holders of record of such Notes on the applicable Regular Record Date instead of the Holders surrendering such Notes for redemption on the Redemption Date falls after a Record Date but (and in this circumstance, the Make-Whole Premium shall be calculated based on or prior to the immediately succeeding present values of the remaining scheduled payments of interest on such Notes, starting with the next Interest Payment DateDate for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, in which case shall be determined by the Company shall instead pay in accordance with the full amount of accrued and unpaid interest to the Holder of record as provisions of the close of business on such Record Date Indenture, and the Redemption Price Trustee shall not be equal under any responsibility to 100% determine the correctness of any such determination and/or calculation and may conclusively rely on the Principal Amount of the Securities being redeemed)correctness thereof. (c) Upon any redemption in accordance with this Article 6, the Company shall pay the Make-Whole Premium with respect to the Notes called for redemption to Holders, at its option, in cash, shares of Common Stock or a combination of cash and shares of Common Stock and shall specify the type of consideration for the Make-Whole Premium (and, if a combination, will specify the dollar amount of the Make-Whole Premium to be paid in cash) in the Notice of Redemption sent by the Company pursuant to Section 6.04. If the Company does not specify the type of consideration for the Make-Whole Premium in such Notice of Redemption, the Company shall pay the Make-Whole Premium entirely in cash. The Company may elect to pay the Make-Whole Premium or any portion thereof, subject to the fulfillment by the Company of the conditions set forth in Section 6.02(h), by delivering the number of shares of Common Stock equal to (i) the amount of the Make-Whole Premium (or such lesser portion thereof that the Company elects to pay in shares of Common Stock if the Company pays the Make-Whole Premium in a combination of cash and shares of Common Stock) divided by (ii) the product of (x) the average of the Last Reported Sale Price of Common Stock for the five consecutive Trading Days immediately preceding and including the third Trading Day prior to the Redemption Date and (y) 97.5%. (d) The Company shall pay the Make-Whole Premium on all Notes called for redemption on or after August 20, 2013 and prior to August 15, 2016, including any Notes converted into Common Stock pursuant to the terms of the Indenture after the date of the Notice of Redemption sent pursuant to Section 6.04 of the Indenture and prior to such Redemption Date. (e) Any issuance of shares of Common Stock in respect of the Make-Whole Premium shall be deemed to have been effected immediately prior to the Close of Business on the Redemption Date and the Person or Persons in whose name or names any stock certificate or stock certificates representing shares of Common Stock shall be issuable upon such redemption shall be deemed to have become on the Redemption Date the holder or holders of record of the shares represented thereby; provided, however, that any surrender for redemption on a date when the stock transfer books of the Company shall be closed shall constitute the Person or Persons in whose name or names the stock certificate or stock certificates representing such shares are to be issued as the holder or holders of record of the shares represented thereby for all purposes at the Open of Business on the next succeeding day on which such stock transfer books are open. No payment or adjustment shall be made for dividends or distributions on any Common Stock declared prior to the Redemption Date. A Holder receiving shares of Common Stock in respect of the Make-Whole Premium shall not redeem be entitled to any Securities rights as a holder of Common Stock, including, among other things, the right to vote and receive dividends and notices of stockholder meetings, until the Close of Business on the Redemption Date. (f) The Company will not issue a fractional share of Common Stock upon payment of the Make-Whole Premium. Instead, the Company shall pay cash in lieu of fractional shares based on the Last Reported Sale Price of Common Stock on the Trading Day prior to the applicable Conversion Date. (g) Any issuance and delivery of stock certificates representing shares of Common Stock on payment of the Make-Whole Premium shall be made without charge to the Holder of Notes being redeemed or for any tax or duty in respect of the issuance or delivery of such stock certificates or the Notes represented thereby; provided, however, that the Company shall not be required to pay any tax or duty which may be payable in respect of any transfer involved in the issuance or delivery of stock certificates representing shares of Common Stock in a name other than that of the Holder of the Notes being redeemed, and no such issuance or delivery shall be made unless all accrued and unpaid interest thereon the Persons requesting such issuance or delivery has paid to the Company the amount of any such tax or duty or has established, to the satisfaction of the Company, that such tax or duty has been paid. (h) The Company may, at its option, pay the Make-Whole Premium payable to Holders pursuant to Section 6.02(b) upon redemption of the Notes, in shares of Common Stock, if the following conditions are satisfied: (i) The shares of Common Stock to be so issued; (A) shall not require registration under any Federal securities law before such shares may be freely transferable without being subject to any transfer restrictions under the Securities Act upon redemption or if such registration is simultaneously paid for all semiannual periods required, such registration shall be completed and shall become effective prior to the Redemption Date; and (B) shall not require registration with, or portions thereof terminating approval of, any governmental authority under any state law or any other Federal law before shares may be validly issued or delivered upon redemption or if such registration is required or such approval must be obtained, such registration shall be completed or such approval shall be obtained prior to the Redemption Date. (dii) No Securities may The shares of Common Stock to be redeemed if listed upon redemption of Notes hereunder are, or shall have been, approved for listing on the Principal Amount NASDAQ Global Market or the NASDAQ Global Select Market or any other stock exchange on which the shares of the Securities has been acceleratedCommon Stock are then listed, and such acceleration has not been rescindedin any case, on or prior to the Redemption Date Date. (except iii) All shares of Common Stock which may be issued upon redemption of Notes shall be newly issued shares or treasury shares, shall be duly and validly issued and fully paid and nonassessable and shall be free from preemptive rights and free of any lien or adverse claim. (iv) If any of the conditions set forth in clauses (i) through (iii) of this Section 6.02(h) are not satisfied in accordance with the case of an acceleration resulting from a Default terms thereof, the Make-Whole Premium shall be paid by the Company only in the payment of the Redemption Price with respect to such Securities)cash. (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: First Supplemental Indenture (Onyx Pharmaceuticals Inc)

Right to Redeem; Notices to Trustee. (a) The Securities are not redeemable by the Company prior to February 3, 2013. On or after February 3, 2013, the Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least 150greater than 175% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding Days, ending within five (5) Trading Days prior to the date on which the Company provides the relevant Redemption Noticeday a notice of redemption is mailed. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being to be redeemed, plus (Bii) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the date on which the redemption is made (the “Redemption Date”), plus (iii) the Make-Whole Payment; provided, however, that if the Redemption Date is after a Regular Record Date and prior to the Interest Payment Date to which it relates, then the accrued and unpaid interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder holders of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from on the Current Conversion Value as applicable Regular Record Date instead of the holders surrendering such Securities for redemption on the Redemption Date; or (ii) in . The Trustee shall have no duty to determine or calculate the case of a redemption pursuant to Section 6.01(a)(ii)Make-Whole Payment, 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case shall be determined by the Company shall instead pay in accordance with the full amount provisions of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date this Indenture, and the Redemption Price Trustee shall not be equal under any responsibility to 100% determine the correctness of any such determination and/or calculation and may conclusively rely on the Principal Amount of the Securities being redeemed)correctness thereof. (c) The Upon any redemption in accordance with this Section 3.01, the Company may not redeem any Securities unless all accrued and unpaid interest thereon has been or is simultaneously paid for all semiannual periods or portions thereof terminating prior shall pay the Make-Whole Payment with respect to the Redemption Date. Securities called for redemption to Holders, at its option, in cash, shares of Common Stock or a combination of cash and shares of Common Stock and shall specify the type of consideration for the Make-Whole Payment (d) No Securities may be redeemed and, if a combination, will specify the Principal Amount dollar amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior Make-Whole Payment to the Redemption Date (except be paid in cash) in the case notice of an acceleration resulting from a Default redemption sent by the Company pursuant to Section 3.03. If the Company does not specify the type of consideration for the Make-Whole Payment in the payment such notice of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01redemption, the Securities Company shall not be redeemable by pay the CompanyMake-Whole Payment entirely in cash.

Appears in 1 contract

Samples: Indenture (BPZ Resources, Inc.)

Right to Redeem; Notices to Trustee. (a) The Securities Prior to November 20, 2018, the Notes may be redeemed, redeemed for Cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Volume Weighted Average Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable then current Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days prior to the date on which the Company provides notice of redemption. On or after November 20, 2018 the relevant Redemption Notice. (b) Notes may be redeemed for Cash in whole or in part at the option of the Company without regard to the price of the Company’s Common Stock. The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and pursuant to Section 11.01(a) shall be equal to: to (i) in the case of a redemption pursuant Notes redeemed prior to Section 6.01(a)(i)November 20, 2018, (A1) 101.5% of the Principal Amount at Maturity of the Securities being Notes to be redeemed, plus (B2) accrued and unpaid interest interest, (including Additional Interest), if any, to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii)Notes redeemed on or after November 20, 100% of 2018, (1) the Accreted Principal Amount of Securities being the Notes to be redeemed, plus (2) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the Redemption Date (unless Date; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the Holder holders of record as of such Notes on the applicable Regular Record Date instead of the close of business holders surrendering such Notes for redemption on such Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (cb) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. In addition, the Company shall not redeem any Notes or deliver to any Holder a notice of redemption pursuant to Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest. (dc) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or Upon any redemption prior to the Redemption Date (except in the case of an acceleration resulting from a Default by November 20, 2018, the Company in the payment shall issue Make-Whole Shares pursuant to Section 10.10 of the Redemption Price this Indenture to Holders with respect to the Notes called for redemption pursuant to Section 11.01 that are converted in connection with such Securities)redemption into Common Stock pursuant to the terms of the Indenture after the date of the notice of redemption sent pursuant to Section 11.03 of this Indenture and prior to such Redemption Date. (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Micron Technology Inc)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15August 27, 20102007, if a any Tax Triggering Event has occurred; and (ii) on or after September March 15, 20192014, if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i7.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, redeemed plus (BA) accrued and unpaid interest Interest to, but excluding, the Redemption Date and (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (CB) if the Current Conversion Parity Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 9579% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current their Conversion Parity Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii7.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Securities are redeemed on or prior to the immediately succeeding any Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. In addition, the Company may not redeem any Securities or deliver to any Holder of Securities a notice of redemption pursuant to Section 7.03 during any Extension Period or at any time when there exists any accrued and unpaid Deferred Interest. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.017.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Xilinx Inc)

Right to Redeem; Notices to Trustee. (a) The Securities Notes are not redeemable by the Company prior to August 15, 2017. On or after August 15, 2017, except for the Notes that the Company is required to repurchase in accordance with Article 15 hereof, the Company may be redeemed, redeem any or all of the Notes in whole or in part, cash at the option of the Company: Redemption Price (i) on or prior to September 15as defined below), 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, if provided that the Last Reported Sale Price of the Common Shares has been at least 150% of the applicable Conversion Price Stock for at least 20 or more Trading Days (whether or not consecutive) during the in a period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date of the Redemption Notice exceeds 150% of the applicable Conversion Price in effect on which such Trading Day; provided that the Company provides may not redeem the relevant Notes if the Redemption NoticeDate would be after the Maturity Date. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: to the sum of (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal amount of the Securities being Notes to be redeemed, payable in cash, plus (Bii) accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date (unless Date, payable in cash; provided, however, that if the Redemption Date falls is after a regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case the Company will not pay accrued and unpaid interest to any Noteholder surrendering its Notes for redemption, and shall instead pay the full amount of accrued and unpaid the interest due on such Interest Payment Date to the Holder Noteholder of record as of on the close of business on such regular Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed). (c) The Company may not redeem any Securities unless all accrued and unpaid interest thereon has been or is simultaneously paid for all semiannual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed Notes if the Principal Amount principal amount of the Securities Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the relevant Redemption Date (except in the case of an acceleration resulting from a Default default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Northwest Biotherapeutics Inc)

Right to Redeem; Notices to Trustee. (a) The Securities Except as provided below, the Notes are not redeemable by the Company prior to August 5, 2014. On or after August 5, 2014, the Notes may be redeemed, redeemed for Cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Closing Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and pursuant to Section 11.01(a) shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date falls (and in this circumstance, the Make-Whole Premium shall be calculated based on the present values of the remaining scheduled payments of interest on such Notes, starting with the next Interest Payment Date for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of this Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption prior to August 5, 2016, the Company shall pay the Make-Whole Premium with respect to the Notes called for redemption to Holders in Cash, including with respect to Notes converted into Common Stock pursuant to the terms of the Indenture after the date of the notice of redemption sent pursuant to Section 11.03 of this Indenture and prior to such Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the Holder holders of record as of such Notes on the applicable Regular Record Date instead of the close of business holders surrendering such Notes for redemption on such Record Date and the Redemption Date. (d) On or after August 5, 2016, the Company may redeem for Cash all or part of the Notes. The Redemption Price shall be will equal to the sum of 100% of the Principal Amount principal amount of the Securities being Notes to be redeemed), plus accrued and unpaid interest, including Additional Interest, if any, to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date and prior to the Interest Payment Date to which it relates, then the accrued and unpaid interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date. (ce) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated. In addition, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Companyredeem any Notes or deliver to any Holder a notice of redemption pursuant to Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest.

Appears in 1 contract

Samples: Indenture (Micron Technology Inc)

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Right to Redeem; Notices to Trustee. (a) The Securities Except as provided below, the Notes are not redeemable by the Company prior to May 1, 2016. On or after May 1, 2016, the Notes may be redeemed, redeemed for Cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Sale Volume Weighted Average Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and pursuant to Section 11.01(a) shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest (including Additional Interest), if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium, if applicable; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date falls (and in this circumstance, the Make-Whole Premium shall be calculated based on the present values of the remaining scheduled payments of interest on such Notes, starting with the next Interest Payment Date for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of this Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption prior to May 4, 2019, the Company shall pay the Make-Whole Premium with respect to the Notes called for redemption to Holders in Cash, including with respect to Notes converted into Common Stock pursuant to the terms of the Indenture after the date of the notice of redemption sent pursuant to Section 11.03 of this Indenture and prior to such Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the Holder holders of record as of such Notes on the applicable Regular Record Date instead of the close of business holders surrendering such Notes for redemption on such Record Date and the Redemption Price shall be Date. (d) On or after May 4, 2019, the Company may redeem for Cash all or part of the Notes at a redemption price equal to the sum of 100% of the Principal Amount principal amount of the Securities being Notes to be redeemed), plus accrued and unpaid interest, including Additional Interest, if any, to, but excluding, the Redemption Date; provided, however, that if the Redemption Date is after a Regular Record Date and prior to the Interest Payment Date to which it relates, then the accrued and unpaid interest, if any, to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date to the holders of record of such Notes on the applicable Regular Record Date instead of the holders surrendering such Notes for redemption on the Redemption Date. (ce) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated. In addition, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Companyredeem any Notes or deliver to any Holder a notice of redemption pursuant to Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest.

Appears in 1 contract

Samples: Indenture (Micron Technology Inc)

Right to Redeem; Notices to Trustee. (a) The Securities are not redeemable by the Company prior to January 20, 2014. On or after January 20, 2014, the Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Closing Sale Price of the Common Shares Stock has been at least 150greater than 130% of the applicable Base Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period ending on the Trading Day immediately preceding prior to the date on which the Company provides the relevant a Redemption Notice. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: to the sum of (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal amount of the Securities being to be redeemed, plus (Bii) accrued and unpaid interest interest, if any, to, but excluding, the Redemption Date Date, plus (unless iii) the Make-Whole Premium; provided, however, that if the Redemption Date falls is after a Regular Record Date but on or and prior to the immediately succeeding Interest Payment DateDate to which it relates, in which case then the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueany, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date, shall be paid on such Interest Payment Date (unless to the Holders of record of such Securities on the applicable Regular Record Date instead of the Holders surrendering such Securities for redemption on the Redemption Date falls after (and in this circumstance, the Make-Whole Premium shall be calculated based on the present values of the remaining scheduled payments of interest on such Securities, starting with the next Interest Payment Date for which interest has not been provided for herein). The Trustee shall have no duty to determine or calculate the Make-Whole Premium, which shall be determined by the Company in accordance with the provisions of the Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption in accordance with this Article 13, the Company shall pay the Make-Whole Premium with respect to the Securities called for redemption to Holders, at its option, in cash, shares of Common Stock or a Record combination of cash and shares of Common Stock, at the Company’s option, equal to the sum of the present values of the remaining scheduled payments of interest that would have been made on the Securities to be redeemed had such Securities remained outstanding from the Redemption Date to January 15, 2017 (excluding interest accrued to, but on excluding, the Redemption Date, which is otherwise paid pursuant to Section 13.01(b)(ii)) (the “Make-Whole Premium”). The present values of the remaining interest payments will be computed using a discount rate equal to 2.5%. If the Company elects to pay some or all of the Make-Whole premium in shares of Common Stock, then the number of shares of Common Stock a Holder will receive will be that number of shares that have a value equal to the amount of the Make-Whole Premium payment to be paid to such Holder in shares, divided by the product of the average of the Closing Sale Prices of Common Stock for the five Trading Days immediately preceding and including the third Trading Day prior to the immediately succeeding Interest Payment DateRedemption Date multiplied by 97.5%. The Company shall specify the type of consideration for the Make-Whole Premium (and, if a combination, will specify the dollar amount of the Make-Whole Premium to be paid in which case cash) in the Redemption Notice sent by the Company pursuant to Section 13.03. If the Company does not specify the type of consideration for the Make-Whole Premium in such Redemption Notice, the Company shall instead pay the full Make-Whole Premium entirely in cash. The Company may elect to pay the Make-Whole Premium or any portion thereof, subject to the fulfillment by the Company of the conditions set forth in Section 13.01(h), by delivering the number of shares of Common Stock equal to (i) the amount of accrued the Make-Whole Premium (or such lesser portion thereof that the Company elects to pay in shares of Common Stock if the Company pays the Make-Whole Premium in a combination of cash and unpaid interest shares of Common Stock) divided by (ii) the product of (x) the average of the Closing Sale Price of Common Stock for the five consecutive Trading Days immediately preceding and including the third Trading Day prior to the Redemption Date and (y) 97.5%. (d) The Company shall pay the Make-Whole Premium on all Securities called for redemption prior to January 15, 2017, including any Securities subject to redemption converted into Common Stock pursuant to the terms of this Indenture after the date of the Redemption Notice sent pursuant to Section 13.03 of this Indenture and prior to such Redemption Date. (e) Any issuance of shares of Common Stock in respect of the Make-Whole Premium shall be deemed to have been effected immediately prior to the Close of Business on the Redemption Date and the Person or Persons in whose name or names any stock certificate or stock certificates representing shares of Common Stock shall be issuable upon such redemption shall be deemed to have become on the Redemption Date the holder or holders of record of the shares represented thereby; provided, however, that any surrender for redemption on a date when the stock transfer books of the Company shall be closed shall constitute the Person or Persons in whose name or names the stock certificate or stock certificates representing such shares are to be issued as the holder or holders of record of the shares represented thereby for all purposes at the Open of Business on the next succeeding day on which such stock transfer books are open. No payment or adjustment shall be made for dividends or distributions on any Common Stock declared prior to the Redemption Date. A Holder receiving shares of Common Stock in respect of the Make-Whole Premium shall not be entitled to any rights as a holder of Common Stock, including, among other things, the right to vote and receive dividends and notices of stockholder meetings, until the Close of Business on the Redemption Date. (f) The Company will not issue a fractional share of Common Stock upon payment of the Make-Whole Premium. Instead, the Company shall pay cash in lieu of fractional shares based on the Closing Sale Price of Common Stock on the Trading Day prior to the applicable Conversion Date. (g) Any issuance and delivery of stock certificates representing shares of Common Stock on payment of the Make-Whole Premium shall be made without charge to the Holder of record as Securities being redeemed or for any tax or duty in respect of the close issuance or delivery of business on such Record Date and stock certificates or the Redemption Price Securities represented thereby; provided, however, that the Company shall not be equal required to 100% pay any tax or duty which may be payable in respect of any transfer involved in the issuance or delivery of stock certificates representing shares of Common Stock in a name other than that of the Principal Amount Holder of the Securities being redeemed), and no such issuance or delivery shall be made unless the Persons requesting such issuance or delivery has paid to the Company the amount of any such tax or duty or has established, to the satisfaction of the Company, that such tax or duty has been paid. (ch) The Company may, at its option, pay the Make-Whole Premium payable to Holders pursuant to Section 13.01(b) upon redemption of the Securities, in shares of Common Stock, if the following conditions are satisfied: (i) The shares of Common Stock to be so issued; (A) shall not require registration under any Federal securities law before such shares may be freely transferable without being subject to any transfer restrictions under the Securities Act upon redemption or if such registration is required, such registration shall be completed and shall become effective prior to the Redemption Date; and (B) shall not redeem require registration with, or approval of, any Securities unless all accrued and unpaid interest thereon has been governmental authority under any state law or any other Federal law before shares may be validly issued or delivered upon redemption or if such registration is simultaneously paid for all semiannual periods required or portions thereof terminating such approval must be obtained, such registration shall be completed or such approval shall be obtained prior to the Redemption Date. (dii) No The shares of Common Stock to be listed upon redemption of Securities may be redeemed if hereunder are, or shall have been, approved for listing on the Principal Amount NYSE, NASDAQ Global Market or the NASDAQ Global Select Market or any other stock exchange on which the shares of the Securities has been acceleratedCommon Stock are then listed, and such acceleration has not been rescindedin any case, on or prior to the Redemption Date Date. (except iii) All shares of Common Stock which may be issued upon redemption of Securities shall be newly issued shares or treasury shares, shall be duly and validly issued and fully paid and nonassessable and shall be free from preemptive rights and free of any lien or adverse claim. (iv) If any of the conditions set forth in clauses (i) through (iii) of this Section 13.01(h) are not satisfied in accordance with the case of an acceleration resulting from a Default terms thereof, the Make-Whole Premium shall be paid by the Company only in the payment of the Redemption Price with respect to such Securities)cash. (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Titan International Inc)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15July 27, 2010, if a any Tax Triggering Event has occurred; and (ii) on or after September 15August 5, 2019, if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least greater than or equal to 150% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i7.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, redeemed plus (BA) accrued and unpaid interest Interest to, but excluding, the Redemption Date and (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (CB) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 9576% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current their Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii7.01(a)(ii), 100% of the Principal Amount of Securities being to be redeemed, plus together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Securities are redeemed on or prior to the immediately succeeding any Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.017.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Intel Corp)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemedCompany shall have the right, at the Company’s option, at any time, on a Redemption Date before December 1, 2018, to redeem all or, from time to time, any part of the Notes if the Volume Weighted Average Price is at least one hundred twenty percent (120%) of the then current Conversion Price for each of at least 20 Trading Days in the 30 consecutive Trading Days ending on, and including, the Trading Day prior to the mailing or sending of the notice of redemption pursuant to Section 11.03. (b) The Company shall also have the right, on or after December 1, 2018, to redeem the Notes in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, if the Last Reported Sale Price of the Common Shares has been at least 150% of the applicable Conversion Price for at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides the relevant Redemption Notice. (bc) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (B) together with accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Notes are redeemed on or prior to the immediately succeeding any Interest Payment Date, the interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Regular Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed). (cd) The Company may not redeem any Securities Notes unless all accrued and unpaid interest thereon (including Additional Interest, if any) on such Notes has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated. In addition, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment may not redeem any Notes or deliver to any Holder of the Redemption Price with respect Notes a notice of redemption pursuant to such Securities)Section 11.03 at any time when there exists any accrued and unpaid Defaulted Interest. (e) Except as provided If the Company elects to redeem Notes pursuant to the optional redemption provisions of this Article 11, it shall furnish to the Trustee, at least 30 days but not more than 60 days before a redemption date, an Officer’s Certificate stating (i) the clause of this Indenture pursuant to which the redemption shall occur, (ii) the Redemption Date, (iii) the principal amount of Notes to be redeemed, (iv) the Redemption Price (or manner of calculation if not then known), (v) such election has been duly authorized by all requisite corporate action on the part of the Company, and (vi) complies with any applicable covenants or conditions precedent set forth in this Section 6.01Indenture. Any redemption may be cancelled by the Company upon written notice to the Trustee at any time prior to notice of redemption being sent to any Holder and thereafter shall be null and void. If the Redemption Price is not known at the time such notice is to be given, the Securities shall not actual Redemption Price, calculated as described in the terms of the Notes, will be redeemable by set forth in an Officer’s Certificate delivered to the CompanyTrustee no later than two Business Days prior to the Redemption Date.

Appears in 1 contract

Samples: Indenture (Healthsouth Corp)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15June 12, 20102006, if a any Tax Triggering Event has occurred; and (ii) on or after September December 15, 20192012, if the Last Reported Sale Price of the Company’s Common Shares Stock has been at least 150greater than or equal to 130% of the applicable Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding prior to the date on which the Company provides the relevant Redemption Noticenotice of redemption. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i7.01(a)(i), (A) 101.5% of the Principal Amount of the Securities being redeemed, redeemed plus (BA) accrued and unpaid interest Interest to, but excluding, the Redemption Date and (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (CB) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 9577% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current their Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii7.01(a)(ii), 100% of the Principal Amount of Securities being to be redeemed, plus together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but Date; provided, however, that if Securities are redeemed on or prior to the immediately succeeding any Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed)Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual semi-annual periods or portions thereof terminating prior to the Redemption Date. In addition, the Company may not redeem any Securities or deliver to any Holder of Securities a notice of redemption pursuant to Section 7.03 during any Extension Period or at any time when there exists any accrued and unpaid Deferred Interest. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.017.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Intel Corp)

Right to Redeem; Notices to Trustee. (a) The Securities may be redeemed, redeemed in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) Company on or after September 15February 20, 20192015, if the Last Reported Sale Price of the Common Shares has been at least 150% of the applicable Conversion Price for at least 20 Trading Days (whether or not consecutive) during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides the relevant Redemption Notice. (b) The a redemption price at which the Securities are redeemable (the “Redemption Price”) ), which shall be payable in cash and shall be equal to: (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal amount of the Securities being to be redeemed, plus (B) together with accrued and unpaid interest Interest to, but excluding, the Redemption Date (unless the Date; provided, however, that if a Redemption Date falls after the Close of Business on a Record Date but on at or prior to the immediately succeeding Close of Business on the corresponding Interest Payment Date, the Interest payable in which case the Company respect of such Interest Payment Date shall instead pay the full amount of accrued and unpaid interest be payable to the Holder Holders of record as of the close of business on such corresponding Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company shall instead pay the full amount of accrued and unpaid interest to the Holder of record as of the close of business on such Record Date and case, the Redemption Price shall be equal to 100% of the Principal Amount principal amount of the Securities being redeemed). (cb) The Company may not redeem any Securities unless all accrued and unpaid interest Interest thereon has been or is simultaneously paid for all semiannual periods or portions thereof terminating prior to the Redemption Date. (dc) No Securities may be redeemed by the Company pursuant to this Section 6.01 if the Principal Amount principal amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (Date, except in the case of an acceleration resulting from a an Event of Default by the Company in the payment of the Redemption Price with respect to such Securities). (ed) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Rovi Corp)

Right to Redeem; Notices to Trustee. (a) The Securities Notes are not redeemable by the Company prior to March 15, 2013. On or after March 15, 2013, the Notes may be redeemed, redeemed for cash in whole or in part, part at the option of the Company: (i) on or prior to September 15, 2010, if a Tax Triggering Event has occurred; and (ii) on or after September 15, 2019, Company if the Last Reported Closing Sale Price of the Common Shares has been at least Stock is greater than or equal to 150% of the applicable Conversion Price for on at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Day period immediately preceding ending on the date on which the Company provides the relevant Redemption NoticeNotice of Redemption. (b) The redemption price at which the Securities Notes are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: to (i) in the case of a redemption pursuant to Section 6.01(a)(i), (A) 101.5100% of the Principal Amount principal of the Securities being Notes to be redeemed, plus (Bii) accrued and unpaid interest (including any Additional Interest) to, but excluding, the Redemption Date Date, plus (iii) the Make-whole Premium. The Trustee shall have no duty to determine or calculate the Make-whole Premium, which shall be determined by the Company in accordance with the provisions of this Indenture, and the Trustee shall not be under any responsibility to determine the correctness of any such determination and/or calculation and may conclusively rely on the correctness thereof. (c) Upon any redemption in accordance with this Article 5, the Company will pay cash to converting Holders the Make-whole Premium payment on all Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to and including the Redemption Date. (d) The Company may not redeem any Notes unless all accrued and unpaid interest (including any Additional Interest) thereon has been or is simultaneously paid for all interest periods ending prior to the Redemption Date. In addition, the Company may not redeem any Notes or deliver to any Holder of Notes a Notice of Redemption pursuant to Section 5.03 at any time when there exists any accrued and unpaid Defaulted Interest. (e) If the Redemption Date falls is after a Regular Record Date but on or prior to the immediately succeeding corresponding Interest Payment Date, in which case Date then the Company shall instead will (i) pay the full amount of accrued and unpaid interest to the Holder of record as on such Regular Record Date and (x) in respect of any Notes redeemed on such Redemption Date, the close Redemption Price payable on such Notes shall not include such payment, or (y) in respect of any Notes converted after such Record date and prior to the opening of business on such Record Date and the Redemption Price shall not include any accrued and unpaid interest), plus (C) if the Current Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Value, 95% of the amount determined by subtracting the Initial Conversion Value of such Securities from the Current Conversion Value as of the Redemption Date; or (ii) in the case of a redemption pursuant to Section 6.01(a)(ii), 100% of the Principal Amount of Securities being redeemed, plus accrued and unpaid interest to, but excluding, the Redemption Date (unless the Redemption Date falls after a Record Date but on or prior to the immediately succeeding Interest Payment Date, in which case the Company converting Holder shall instead not be required to pay funds equal to the full amount of accrued and unpaid interest payable to the Holder of record on such Regular Record Date, as set forth under Section 6.03; and (ii) pay any Make-whole Premium payment on the Redemption date to the Holders of the close Notes to be redeemed or Holders who convert their Notes called for redemption as set forth under Section 5.01(c) above. The Make-whole Premium payment will be based upon the present values of business on all remaining interest payments, starting with the Interest Payment Date following the Interest Payment Date corresponding to such Regular Record Date and the Redemption Price shall be equal to 100% of the Principal Amount of the Securities being redeemed). (c) The Company may not redeem any Securities unless all accrued and unpaid interest thereon has been or is simultaneously paid for all semiannual periods or portions thereof terminating prior to the Redemption Date. (d) No Securities may be redeemed if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Securities). (e) Except as provided in this Section 6.01, the Securities shall not be redeemable by the Company.

Appears in 1 contract

Samples: Indenture (Ciena Corp)

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