Right to Redeem. (a) The Securities may be redeemed in whole or in part at the option of the Company: (1) on or after November 15, 2019, if the Closing Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and (2) on or prior to November 15, 2010, if any Tax Triggering Event has occurred. (b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to: (1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date. (2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date. (c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date. (d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 3 contracts
Samples: Indenture (General Cable Corp /De/), Indenture (General Cable Corp /De/), Indenture (General Cable Corp /De/)
Right to Redeem. (a) The At any time after October 1, 2017, but prior to the Final Maturity Date, the Company shall be entitled to redeem the Securities may be redeemed at its option, in whole or in part at the option of the Company:
(1) on or after November 15part, 2019, if provided that the Closing Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date of the Redemption Notice exceeds 130% of the applicable Conversion Price for the Securities on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) each applicable Trading Day. The redemption price at which for the Securities are redeemable to be redeemed on any Redemption Date (the “Redemption Price”) shall be payable in cash and shall be will equal to:
(1a) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of the Securities to be redeemed, together with being redeemed plus (b) accrued and unpaid interest (including Contingent Interest and Additional Interestadditional interest), if any) , to, but excluding, the Redemption Date; provided, howeverunless 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, including any additional interest, to the Holder of record as of the close of business on such Record Date (it being understood that if the Trustee does not have an affirmative duty to calculate the Redemption Price and that the Trustee is entitled to rely upon the request of the Company in a Redemption Notice). If Securities are redeemed on a date that is after a Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest will not be paid to the Holder of Securities being redeemed, and Additional Interest, if any) instead the full amount of the relevant interest payment will be payable paid on such Interest Payment Date to the Holder of record as of on such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 2 contracts
Samples: First Supplemental Indenture (DHT Holdings, Inc.), First Supplemental Indenture (DHT Holdings, Inc.)
Right to Redeem. (a) The Securities may be redeemed Beginning May 6, 2019, the Company may, at its option, redeem the Securities, in whole or in part at part, other than the option of Securities that the Company:
(1) on or after November 15, 2019Company is required to repurchase pursuant to Article 3, if the Closing Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect Ordinary Shares for at least 20 or more Trading Days during in the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of such redemption exceeds 150% of the applicable Conversion Price in effect on each such Trading Day (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(ba) The redemption price at which If the Company elects to redeem Securities are redeemable (pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be being redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing); provided, howeverprovided further, that if Securities are redeemed on a date that is the Redemption Date occurs after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid the interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall be payable to the Holder Holders of record as at the Close of such Business on the corresponding Record Date.
(2) in , and the case of a Redemption Price payable to the Holder who presents the Security for redemption pursuant to Section 11.01(a)(2), 101.5shall be 100% of the principal amount of such Security.
(b) No Securities may be redeemed by the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Company pursuant to an Optional Redemption Date and (B) if the Redemption Conversion Value as of the Redemption Date principal amount 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been accelerated, and such acceleration has not been rescinded by the Holders, on or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(dc) Except as provided in this Section 11.0113.01 and Section 14.01, the Securities shall not be redeemable by the Company.
Appears in 2 contracts
Samples: Indenture (Avago Technologies LTD), Indenture (Avago Technologies LTD)
Right to Redeem. (a) The Securities may be redeemed Company shall not redeem the Notes, in whole or in part part, and may not give a Notice of Optional Redemption prior to the receipt of Stockholder Approval. From and after receipt of Stockholder Approval, the Company shall not redeem the Notes, in whole or in part, without the consent of the Holders of not less than seventy percent (70%) in aggregate principal amount of the Notes at the option of the Company:
time outstanding (1) on or after November 15such redemption, 2019, if the Closing Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem the “Notes pursuant to an Optional Redemption, the Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities the Notes to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interestinterest, if any) , to, but excluding, the Redemption Date, or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing; provided, however, that if Securities Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional InterestPayment Date, if any) will , shall not be payable to Holders of the Notes to whom the principal amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record as of such Record Date.
(2) in on the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The No Notes may be redeemed by the Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, pursuant to an Optional Redemption if any) thereon the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating 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 Notes.
(d) Except as provided in this Section 11.0116.01, the Securities Notes shall not be redeemable by the Company.
Appears in 2 contracts
Samples: Indenture (Orexigen Therapeutics, Inc.), Indenture (Orexigen Therapeutics, Inc.)
Right to Redeem. The Board of Directors of the Company may, at its option, at any time prior to the close of business on the tenth day following the Shares Acquisition Date, redeem all but not less than all of the then outstanding Rights at a redemption price of $.001 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (a) such redemption price being hereinafter referred to as the "REDEMPTION PRICE"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors; PROVIDED, HOWEVER, that if the Board of Directors of the Company authorizes redemption of the Rights after the time a Person becomes an Acquiring Person, then there must be Continuing Directors then in office and such authorization shall require the approval of at least a majority of such Continuing Directors. The Securities preceding sentence notwithstanding, prior to the expiration of the period during which the Rights may be redeemed as specified therein (or such longer period as the Board of Directors of the Company may select pursuant to this sentence), the Board of Directors of the Company may extend, one or more times, the period during which the Rights may be redeemed beyond the close of business on the tenth day following the Shares Acquisition Date; PROVIDED, HOWEVER, that there must be Continuing Directors then in whole office and any such extension shall require the approval of at least a majority of such Continuing Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish. Notwithstanding anything contained in this Agreement to the contrary, the Rights shall not be exercisable following a transaction or event described in part at Section 11.1.2 prior to the option expiration or termination of the Company:
(1) on or after November 15, 2019, if the Closing Price 's right of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredredemption hereunder.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 2 contracts
Samples: Rights Agreement (Hilton Hotels Corp), Rights Agreement (Hilton Hotels Corp)
Right to Redeem. (a) The Securities Notes may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November 15August 1, 20192023, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150greater than or equal to 130% of 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 such redemption (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurreda “Redemption”).
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem the “Notes pursuant to a Redemption, the Redemption Price”) Price shall be payable in cash and shall be equal to:
to (1i) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be Notes redeemed, together with plus (ii) accrued and unpaid interest (interest, including Contingent Interest and Additional Interest, if any) , to, but excluding, the Redemption Date; provided, however, that if Securities . If the Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record as of such Record Date.
(2) in on the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The No Notes may be redeemed by the Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, pursuant to a Redemption if any) thereon the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
e) To the extent a Holder converts its Notes “in connection with” the Company’s election to redeem the Notes, the Company will increase the Conversion Rate as described in Section 7.07.
Appears in 1 contract
Samples: Indenture (Hc2 Holdings, Inc.)
Right to Redeem. (a) The Securities may be redeemed in whole or in part Company shall have the right, at the option of the Company:
(1) on or after November 15, 2019, if the Closing Price of the Company’s Common Stock has been option, at any time, on a Redemption Date on or before April 1, 2016, to redeem (a “Redemption”) all or, from time to time, any part of the Notes at a Redemption Price payable in cash equal to the principal amount of the Notes to be redeemed, plus the Coupon Make-Whole Payment as of, and accrued and unpaid interest, if any, to, but excluding, such Redemption Date if the Daily VWAP is at least one hundred and fifty percent (150% %) of the then current Conversion Price then in effect for each of at least 20 twenty (20) Trading Days during in the 30 thirty (30) consecutive Trading Days ending on, and including, the Trading Day period immediately preceding prior to the date on which mailing of the Company provides notice of redemption; and
(2) on or prior Redemption pursuant to November 15, 2010, if any Tax Triggering Event has occurredSection 3.03 of the Base Indenture and Section 3.02 hereof.
(b) The redemption price Company shall have the right, at which the Securities are redeemable Company’s option, at any time, on a Redemption Date after April 1, 2016, to redeem (the also, a “Redemption PriceRedemption”) shall be all or, from time to time, any part of the Notes at a Redemption Price payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities the Notes to be redeemed, together with plus accrued and unpaid interest (including Contingent Interest and Additional Interestinterest, if any) , to, but excluding, the such Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all Notwithstanding the foregoing clauses (a) and (b), and anything to the contrary in the Indenture or the Notes, (i) if the Redemption Date with respect to a Note is after a Regular Record Date for the payment of an installment of interest and on or before the related Interest Payment Date, then accrued and unpaid interest (including Contingent Interest and Additional Intereston such Note to, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior but excluding, such Redemption Date shall be paid, on such Redemption Date, to the Holder of such Note at the close of business on such Regular Record Date, and the Holder surrendering such Note for Redemption Date.shall not be entitled to any such interest unless such Holder was also the Holder of record of such Note at the close of business on such Regular Record Date and (ii) in no event shall the Company redeem any Notes at a time when the Company has failed to pay interest on the Notes and such failure to pay is continuing
(d) Except as provided Notwithstanding anything to the contrary in this Section 11.01the Indenture or the Notes, the Securities second sentence of the final paragraph of Section 3.05 of the Base Indenture shall not be redeemable by apply to the CompanyNotes.
Appears in 1 contract
Right to Redeem. (a) The Securities may be redeemed Any time after June 15, 2008 and prior to June 15, 2011, the Company may, at its option, redeem (such redemption being hereinafter referred to as the "Provisional Redemption") the Notes, in whole at any time or in part from time to time, upon notice given in accordance with Section 3.04, at the option a redemption price equal to $1,000 per $1,000 principal amount of the Company:
Notes to be redeemed, plus accrued and unpaid interest, including Contingent Interest, if any, to but excluding the Provisional Redemption Date (1) on or after November 15, 2019such amount being the "Provisional Redemption Price"), if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150exceeded 130% of the Conversion Price then in effect for at least 20 Trading Days during the within a period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) The redemption price at which mails the Securities are redeemable (the “Provisional Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption Notice pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the 3.04. If a Provisional Redemption Date; provided, however, that if Securities are redeemed on a date that Date is after a Record Date and prior to the corresponding an Interest Payment Date, accrued and unpaid the semiannual interest (including any Contingent on the Notes payable on such Interest and Additional Interest, if any) Payment Date will be payable to the Holder of record as of such the relevant Regular Record Date, and the Provisional Redemption Price will not include such interest payment.
(2b) Except as set forth in Section 3.01(a), the case Notes may not be redeemed at the option of the Company prior to June 15, 2011. On and after June 15, 2011, the Company may, at its option, redeem (such redemption being hereinafter referred to as the "Optional Redemption") the Notes, in whole at any time or in part from time to time, on any date prior to the Stated Maturity, upon notice given in accordance with Section 3.04, at a redemption pursuant price equal to Section 11.01(a)(2), 101.5100% of the principal amount of the Securities being redeemed Notes to be redeemed, plus (A) accrued and unpaid interest (interest, including Additional Contingent Interest, if any) to, to but excluding, the excluding Optional Redemption Date and (B) if such amount being the "Optional Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record DatePrice").
(c) The election of the Company may not to redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional InterestNotes shall be evidenced by a Board Resolution, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior a copy of which shall be provided to the Redemption DateTrustee and upon which the Trustee may conclusively rely.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities may be redeemed in whole At any time, the Company may, at its option, redeem any or in part at the option all of the Company:
(1) on or after November 15Notes, 2019except for the Notes that the Company is required to repurchase pursuant to Article 3, if the Closing Price Daily VWAP of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 or more VWAP Trading Days during (whether or not consecutive) in the period of 30 consecutive VWAP Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice Notice of Redemption exceeds 130% of the applicable Conversion Price in effect on each such Trading Day (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(b) The If the Company elects to redeem Notes pursuant to an Optional Redemption, the redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall will be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemedNotes being redeemed (the “Redemption Price”), together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing), plus the applicable Make-Whole Premium; provided, however, that that, notwithstanding the foregoing, if Securities Notes are redeemed on a date that is after the Close of Business on a Regular Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder Close of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed Business on a date that is after a Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Holder Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and the Company shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the holder of record as of such on the relevant Regular Record Date for the corresponding Interest Payment Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interesti) With respect to each Optional Redemption, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to sending the Notice of Redemption Date.
(d) Except as provided with respect thereto in this accordance with Section 11.0112.03, the Securities Company shall not elect a Settlement Method for such Optional Redemption. If the Company elects Combination Settlement of an Optional Redemption, the Company shall elect the amount of cash to be redeemable by paid to Holders in respect of each $1,000 principal amount of Notes redeemed in such Combination Settlement (the Company“Optional Redemption Cash Amount”).
Appears in 1 contract
Samples: Indenture (Castle a M & Co)
Right to Redeem. The Board of Directors of the Company may, at its option, at any time prior to the close of business on the tenth day following the Shares Acquisition Date, redeem all but not less than all of the then outstanding Rights at a redemption price of $.01 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (a) such redemption price being hereinafter referred to as the "Redemption Price"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," as defined in Section 11.4 hereof, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors, PROVIDED, HOWEVER, that if the Board of Directors of the Company authorizes redemption of the Rights after the time a Person becomes an Acquiring Person, then there must be Continuing Directors then in office and such authorization shall require the approval of at least a majority of such Continuing Directors. The Securities preceding sentence notwithstanding, prior to the expiration of the period during which the Rights may be redeemed as specified therein (or such longer period as the Board of Directors of the Company may select pursuant to this sentence), the Board of Directors of the Company may extend, one or more times, the period during which the Rights may be redeemed beyond the close of business on the tenth day following the Shares Acquisition Date; PROVIDED, HOWEVER, that there must be Continuing Directors then in whole office and any such extension shall require the approval of at least a majority of such Continuing Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish. Notwithstanding anything contained in this Rights Agreement to the contrary notwithstanding, the Rights shall not be exercisable following a transaction or event described in part at Section 11.1.2 prior to the option expiration or termination of the Company:
(1) on or after November 15, 2019, if the Closing Price 's right of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredredemption hereunder.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Samples: Rights Agreement (Thompson Pbe Inc)
Right to Redeem. (a) The Securities may be redeemed in whole or in part at the option of the Company:
(1) on or Company at any time after November 15August 20, 20192012, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least greater than or equal to 150% of the Conversion Price then in effect for at least 20 Trading Days during the any 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(b) The redemption price at which If the Company elects to redeem Securities are redeemable (pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid the interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall be payable to Holders to whom the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount Principal Amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, pursuant to the Optional Redemption Date and (B) if is paid without regard to the Redemption Conversion Value as Holders of record on 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities pursuant to an Optional Redemption unless all accrued and unpaid interest thereon (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date. No Securities of a Principal Amount of $2,000 or less shall be redeemed in part.
(d) No Securities may be redeemed by the Company pursuant to an Optional Redemption if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date.
(e) Except as provided in this Section 11.015.01, the Securities shall not be redeemable by at the option of the Company.
Appears in 1 contract
Samples: Indenture (THQ Inc)
Right to Redeem. (a) The Securities No sinking fund is provided for the Notes. On or after the date that is one year following the original Issue Date of the Notes, the Notes may be redeemed for cash in whole or in part at the option of the Company:
(1) on or after November 15, 2019, Company if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150is greater than or equal to 130% of the Conversion Price then in effect for on at least 20 Trading Days during the any 30 consecutive Trading Day period immediately preceding ending on the date on which the Company provides notice mailed the Notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredRedemption.
(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 (1i) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities Notes to be redeemed, together with plus (ii) accrued and unpaid interest (including Contingent any Special Interest and Additional Interest), if any) , to, but excluding, the date of redemption (the “Redemption Date”); provided, however, provided that if Securities are redeemed on a date that is the Redemption Date occurs after a Regular Record Date and on or prior to the corresponding Interest Payment Date, the Company will pay the full amount of accrued and unpaid interest (including any Contingent due on such Interest Payment Date to the record Holder of the Notes on the Regular Record Date corresponding to such Interest Payment Date, subject to Applicable Procedures, and Additional Interest, if any) will be the Redemption Price payable to the Holder of record as of such Record Date.
(2) in the case of who presents a Note for redemption pursuant will be equal to Section 11.01(a)(2), 101.5100% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record DateNotes.
(c) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including Contingent Special Interest and Additional Interest, if anyapplicable) thereon has been or is simultaneously paid for all semi-annual interest periods or portions thereof terminating ending prior to the Redemption Date.
(d) Except If a Holder surrenders a Note for conversion during the period from the Close of Business on a Regular Record Date to the Open of Business on the corresponding Interest Payment Date, such Holder must accompany such Note with an amount of cash equal to the amount of interest that will be payable on such Note on the corresponding Interest Payment Date; provided, however, that a Holder need not make such payment if the Company has specified a Redemption Date that is after a Regular Record Date and on or prior to the corresponding Interest Payment Date, as provided in this set forth under Section 11.0113.02, regardless of whether such Holders are the Securities shall not be redeemable by the CompanyHolders of record on such Regular Record Date.
Appears in 1 contract
Samples: Indenture (Mannkind Corp)
Right to Redeem. (a) The Securities Provisional Redemption by the Company.
(i) Prior to June 15, 2015, the Company may be redeemed in whole not redeem the Notes. On or in part after June 15, 2015, the Company may, at the option its option, redeem any or all of the Company:
(1) on or after November 15Notes, 2019except for the Notes that the Company is required to repurchase pursuant to Article 3, if (i) the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 or more Trading Days during in the period of 30 consecutive Trading Day period Days ending within the five Trading Days immediately preceding prior to the date on which the Company provides notice Notice of redemption; and
Redemption exceeds 150% of the applicable Conversion Price in effect on each such Trading Day and (2ii) there is no Event of Default continuing that has not been cured or waived pursuant to Section 6.04 on or prior to November 15, 2010, if any Tax Triggering Event has occurredbefore on the Redemption Date (a “Provisional Redemption”).
(bii) The If the Company elects to redeem Notes pursuant to a Provisional Redemption, the redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall will be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be Notes being redeemed, together with accrued and unpaid interest to, but not including, the Redemption Date (including Contingent or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing), plus, if the Redemption Date occurs prior to June 15, 2017, the applicable Make-Whole Premium in connection with such Provisional Redemption; provided, however, that, notwithstanding the foregoing or Section 12.01(a)(iii), if Notes are redeemed on a date that is after the Close of Business on a Regular Record Date and prior to the Close of Business on the corresponding Interest Payment Date, the accrued interest payable in respect of such Interest Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Provisional Redemption is paid, and Additional Interestthe Company shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the holder of record on the relevant Regular Record Date for the corresponding Interest Payment Date and the Make-Whole Premium payment, if any, made on such Notes to converting or redeeming Holders shall be equal to the sum of all remaining interest payments, starting with the next Interest Payment Date for which interest has not been provided for pursuant to this Section 12.01(a), calculated as described pursuant to Section 12.01(a)(iii). Any Notes redeemed by the Company pursuant to this Section 12.01(a) will be paid for in cash except for any non-cash portion of the Make-Whole Premium, if any.
(iii) In addition, if the Company redeems Notes as provided in this Section 12.01(a) prior to June 15, 2017, the Company will make a payment (the “Make-Whole Premium”) in cash, shares of Common Stock or a combination of cash and shares of Common Stock (in each case subject to applicable law including, in the case of shares of Common Stock, applicable securities law), at the Company’s option, equal to the sum of the remaining scheduled payments of interest that would have been made on the Notes to be redeemed had such Notes remained outstanding from the Redemption Date through June 15, 2017 (excluding interest accrued to, but excluding, the Redemption Date; provided) or, howeverin the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing. Subject to Section 12.01(a)(iv), 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 shall 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 of Common Stock, divided by the Discounted Average Stock Price. The Company will make these Make-Whole Premium payments on all Notes called for Provisional Redemption prior to June 15, 2017, including Notes subject to Provisional Redemption that are converted after the date the Company delivered Notice of Redemption. Notwithstanding the foregoing, if Securities are redeemed on the Company sets a date that is after Redemption Date between a Regular Record Date and prior to the corresponding Interest Payment Date, the Company will not pay accrued interest to any redeeming Holder, and unpaid will instead pay the full amount of the relevant interest (including any Contingent payment on such Interest and Additional Interest, if any) will be payable Payment Date to the Holder holder of record as of on such a Regular Record Date.
(2iv) Notwithstanding anything to the contrary in this Section 12.01(a), if the case Company elects to pay some or all of a redemption the Make-Whole Premium in shares of Common Stock, any such payment will be made in shares of Common Stock that do not constitute “restricted securities” (as defined in Rule 144). In addition, any such payment will be made in accordance with the continued listing requirements of the NASDAQ Global Select Market. In the event that the Company is prohibited under the listing requirements of the NASDAQ Global Select Market from delivering shares of Common Stock as payment for the Make-Whole Premium, the Company shall make such payment of Make-Whole Premium in cash.
(b) No Notes may be redeemed by the Company pursuant to Section 11.01(a)(2), 101.5% of a Provisional Redemption if (x) the principal amount of the Securities being redeemed plus Notes has been accelerated (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, except in the Redemption Date and (B) if case of an acceleration resulting from a default by the Redemption Conversion Value as Company in the payment of the relevant Redemption Date of the Securities being redeemed exceeds their Initial Conversion ValuePrice), 95% of the amount determined by subtracting the Initial Conversion Value of and such Securities from their Redemption Conversion Value as of the Redemption Date; providedacceleration has not been rescinded, however, that if Securities are redeemed on a date that is after a Record Date and or prior to the corresponding Interest Payment Date, accrued relevant Redemption Date and/or (y) the Company has failed to pay any interest due on the Notes and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable such failure to the Holder of record as of such Record Datepay is continuing.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.0112.01, the Securities shall Notes will not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities Notes may be redeemed in whole or in part at the option of the Company:
Company if, at any time (1whether concurrently with or at any time prior to the delivery of the relevant Notice of Optional Redemption) on or after November 15, 2019, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150greater than or equal to 175% of Conversion Price then in effect for at least 20 each Trading Days Day during the any 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan "Optional Redemption").
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem Notes pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be redeemedNotes redeemed and the Repayment Premium thereon, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date, or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing; provided, however, that if Securities Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record as of such Record Date.
(2) in on the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The No Notes may be redeemed by the Company may not redeem any Securities unless all accrued and unpaid interest pursuant to an Optional Redemption (including Contingent Interest and Additional Interest, i) if any) thereon the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating 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 Notes or (ii) if there exists an Equity Condition Failure.
(d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
Appears in 1 contract
Samples: Convertible Note Purchase Agreement (Raptor Pharmaceutical Corp)
Right to Redeem. (a) The Securities Notes may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November February 15, 20192018, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150greater than or equal to 130% of 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 such redemption (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurreda “Redemption”).
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem the “Notes pursuant to a Redemption, the Redemption Price”) Price shall be payable in cash and shall be equal to:
to (1i) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be Notes redeemed, together with plus (ii) accrued and unpaid interest (interest, including Contingent Interest and Additional Interest, if any) , to, but excluding, the Redemption Date; providedplus (iii) the sum of the present values (with each such present value computed by a nationally recognized independent investment banking firm, howeverwhich may be the Initial Purchaser, selected by the Company for this purpose using a discount rate per annum equal to (x) the Reference Discount Rate plus (y) 0.50%) of each of the remaining scheduled payments of interest that if Securities would have been made on the Notes being redeemed had such Notes remained Outstanding from the Redemption Date to the Maturity Date (excluding interest accrued to, but excluding, the Redemption Date that is otherwise paid pursuant to the immediately preceding clause (ii)). If the Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record on the relevant Regular Record Date for the corresponding Interest Payment Date. Except as of such Record Date.
(2) in described above, the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of Company may not redeem the principal amount of the Securities being redeemed plus (A) Notes unless all accrued and unpaid interest (thereon, including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual semiannual interest periods or portions thereof terminating prior to the Redemption Date.
(c) No Notes may be redeemed by the Company pursuant to a Redemption if the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date.
d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
e) To the extent a Holder converts its Notes “in connection with” the Company’s election to redeem the Notes, the Company will increase the Conversion Rate as described in Section 7.07.
Appears in 1 contract
Samples: Indenture (Oclaro, Inc.)
Right to Redeem. (a) The Securities No sinking fund is provided for the Notes. On or after the original Issue Date of the Notes, the Notes may be redeemed for cash in whole or in part at the option of the Company:
(1) on or after November 15, 2019, Company if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least is greater than or equal to 150% of the Conversion Price then in effect for on at least 20 Trading Days during the any 30 consecutive Trading Day period immediately preceding ending on the date on which the Company provides notice mailed the Notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredRedemption.
(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 (1i) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities Notes to be redeemed, together with plus (ii) accrued and unpaid interest (including Contingent any Special Interest and Additional Interest), if any) , to, but excluding, the Redemption Date, plus (iii) the Make-Whole Payment. The Trustee shall have no duty to determine or calculate the Make-Whole Payment, 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 14, the Company will pay to converting Holders, in addition to the shares of Common Stock due upon conversion (and cash in lieu of fractional shares), the Make-Whole Payment on all Notes called for redemption and converted during the period from the date the Company mailed the Notice of Redemption to the date of redemption (the “Redemption Date”); provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest such Make-Whole Payment Date, shall not exclude interest accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if Date. In the case of a Make-Whole Payment to converting Holders only in accordance with this Section 14.01(c), the Company may elect to pay such Make-Whole Payment in cash or shares of Common Stock, or any combination thereof. If the Company elects to pay any portion of such Make-Whole Payment in shares of Common Stock, the Company shall specify a percentage of such Make-Whole Payment in the Notice of Redemption Conversion Value as to be paid in Common Stock. The number of the Redemption Date shares of the Securities being redeemed exceeds their Initial Conversion Value, 95Common Stock to be delivered in respect of such portion of such Make-Whole Payment shall be determined by dividing such portion by 97.5% of the amount determined 5-day Volume-Weighted Average Price per share for the five Trading Days immediately succeeding the Trading Day on which the Company provides such Notice of Redemption. The Company shall not issue fractional shares for any additional payment upon conversion but shall instead make a cash adjustment for any fractional share payment. Notwithstanding the foregoing, the Company shall not pay any portion of any Make-Whole Payment in shares of Common Stock if (i) the resale of any such shares of Common Stock by subtracting any Person that is not an Affiliate of the Initial Conversion Value Company shall require registration under the Securities Act or (ii) the issuance of such Securities from their Redemption Conversion Value as shares of Common Stock shall require a shareholder approval pursuant to listing standards of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record DateNasdaq Stock Market.
(cd) The Company may not redeem any Securities Notes unless all accrued and unpaid interest (including Contingent Special Interest and Additional Interest, if anyapplicable) thereon has been or is simultaneously paid for all semi-annual interest periods or portions thereof terminating ending prior to the Redemption Date.
(de) Except as provided in this Section 11.01If the Redemption Date is after a Regular Record Date but on or prior to the corresponding Interest Payment Date then notwithstanding the foregoing the Company shall (i) pay accrued and unpaid interest on such Interest Payment Date to the Holder of record on such Regular Record Date, the Securities Make-Whole Payment will equal the present value of all remaining interest payments starting with the next Interest Payment Date for which interest has not been provided for, calculated as set forth in the definition of Make-Whole Payment, and (x) in respect of any Notes redeemed on such Redemption Date, the Redemption Price payable on such Notes shall not include such payment, or (y) in respect of any Notes converted after such Regular Record Date and prior to the open of business on such Interest Payment Date, the converting Holder shall not be redeemable by required to pay funds equal to the Companyinterest payable to the Holder of record on such Regular Record Date, as set forth under Section 13.02; and (ii) pay any Make-Whole Payment on the Redemption Date to the Holders of the Notes to be redeemed or Holders who convert their Notes called for redemption pursuant to Section 14.01(c), in each case regardless of whether such Holders are the Holders of record on such Regular Record Date. However, such Make-Whole Payment shall not include interest to be paid to the Holders of record on such Interest Payment Date.
Appears in 1 contract
Samples: Indenture (Mannkind Corp)
Right to Redeem. (a) The Securities may be redeemed Beginning [4th anniversary of the Issue Date], the Company may, at its option, redeem the Securities, in whole or in part at part, other than the option of Securities that the Company:
(1) on or after November 15, 2019Company is required to repurchase pursuant to Article 3, if the Closing Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 or more Trading Days during in the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of such redemption exceeds 140% of the applicable Conversion Price in effect on each such Trading Day (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(ba) The redemption price at which If the Company elects to redeem Securities are redeemable (pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be being redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing); provided, howeverprovided further, that if Securities are redeemed on a date that is the Redemption Date occurs after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid the interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall be payable to the Holder Holders of record as at the Close of such Business on the corresponding Record Date.
(2) in , and the case of a Redemption Price payable to the Holder who presents the Security for redemption pursuant to Section 11.01(a)(2), 101.5shall be 100% of the principal amount of such Security.
(b) No Securities may be redeemed by the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Company pursuant to an Optional Redemption Date and (B) if the Redemption Conversion Value as of the Redemption Date principal amount 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been accelerated, and such acceleration has not been rescinded by the Holders, on or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(dc) Except as provided in this Section 11.0113.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November 15July 20, 20192012, if the Closing Last Reported Sale Price of the Company’s Common Stock Ordinary Shares has been at least 150greater than or equal to 130% of Conversion Price then in effect for at least 20 Trading Days 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 (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(b) The redemption price at which If the Company elects to redeem Securities are redeemable (pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid the interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall be payable to Holders to whom the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount Principal Amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, pursuant to the Optional Redemption Date and (B) if is paid without regard to the Redemption Conversion Value as Holders of record on 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities pursuant to an Optional Redemption unless all accrued and unpaid interest thereon (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) No Securities may be redeemed by the Company pursuant to an Optional Redemption if the Principal Amount of the Securities has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date.
(e) Except as provided in this Section 11.015.01 and Section 6.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Verigy Ltd.)
Right to Redeem. (a) The Securities may be redeemed Any time after June 15, 2008 and prior to June 15, 2011, the Company may, at its option, redeem (such redemption being hereinafter referred to as the "Provisional Redemption") the Notes, in whole at any time or in part from time to time, upon notice given in accordance with Section 3.04, at the option a redemption price equal to $1,000 per $1,000 principal amount of the Company:
Notes to be redeemed, plus accrued and unpaid interest, including Contingent Interest, if any, to but excluding the Provisional Redemption Date (1) on or after November 15, 2019such amount being the "Provisional Redemption Price"), if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150exceeded 130% of the Conversion Price then in effect for at least 20 Trading Days during the within a period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) The redemption price at which mails the Securities are redeemable (the “Provisional Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption Notice pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the 3.04. If a Provisional Redemption Date; provided, however, that if Securities are redeemed on a date that Date is after a Record Date and prior to the corresponding an Interest Payment Date, accrued and unpaid the semiannual interest (including any Contingent on the Notes payable on such Interest and Additional Interest, if any) Payment Date will be payable to the Holder of record as of such the relevant Regular Record Date, and the Provisional Redemption Price will not include such interest payment.
(2b) Except as set forth in Section 3.01(a), the case Notes may not be redeemed at the option of the Company prior to June 15, 2011. On and after June 15, 2011, the Company may, at its option, redeem (such redemption being hereinafter referred to as the "Optional Redemption") the Notes, in whole at any time or in part from time to time, on any date prior to the Stated Maturity, upon notice given in accordance with Section 3.04, at a redemption pursuant price equal to Section 11.01(a)(2), 101.5100% of the principal amount of the Securities being redeemed Notes to be redeemed, plus (A) accrued and unpaid interest (interest, including Additional Contingent Interest, if any) to, to but excluding, the excluding Optional Redemption Date and (B) if such amount being the "Optional Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record DatePrice").
(c) The election of the Company may not to redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional InterestNotes shall be evidenced by a Board Resolution, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior a copy of which shall be provided to the Redemption DateTrustee and upon which the Trustee may conclusively rely.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (ai) The Securities may be redeemed in whole Beginning February 1, 2017, the Company may, at its option, redeem any or in part at the option all of the Company:
(1) on or after November 15Notes, 2019except for the Notes that the Company is required to repurchase pursuant to Section 14.01, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 or more Trading Days during in the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of such redemption exceeds 130% of the applicable Conversion Price in effect on each such Trading Day (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(bii) The If the Company elects to redeem Notes pursuant to an Optional Redemption, the redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be Notes being redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing), plus the applicable Make-Whole Premium in connection with such Optional Redemption; provided, however, that that, notwithstanding the foregoing or Section 15.01(iv), if Securities Notes are redeemed on a date that is after the close of business on a Regular Record Date and prior to the close of business on the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the principal amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and the Company shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record on the relevant Regular Record Date for the corresponding Interest Payment Date and the Make-Whole Premium payment made on such Notes to converting or redeeming Holders shall equal the present values of all remaining interest payments, starting with the next Interest Payment Date for which interest has not been provided for pursuant to this Section 15.01, calculated as of such Record Datedescribed pursuant to this Section 15.01.
(2iii) in No Notes may be redeemed by the case of a redemption Company pursuant to Section 11.01(a)(2), 101.5% of an Optional Redemption if the principal amount of the Securities being Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date.
(iv) If the Company redeems Notes as provided in this Section 15.01, the Company shall make a payment (the “Make-Whole Premium”) in cash equal to the sum of the present values of the remaining scheduled payments of interest that would have been made on the Notes to be redeemed plus had such Notes remained outstanding from the Redemption Date to the Maturity Date (A) excluding interest accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if or, in the Redemption Conversion Value as case of a Default by the Company in the payment of the Redemption Date Price, the day on which such Default is no longer continuing) which is otherwise paid pursuant to Section 15.01(ii) ). The present values of the Securities being redeemed exceeds their Initial Conversion Valueremaining interest payments will be computed using a discount rate equal to 2.0%. The Company shall make these Make-Whole Premium payments on all Notes called for Optional Redemption prior to the Maturity Date, 95% of including Notes subject to Optional Redemption that are converted after the amount determined by subtracting date the Initial Conversion Value Company delivers the notice of such Securities from their Optional Redemption. Notwithstanding the foregoing, if the Company sets a Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on Date between a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the Company will not pay accrued interest to any redeeming Holder, and unpaid will instead pay the full amount of the relevant interest (including any Contingent payment on such Interest and Additional Interest, if any) will be payable Payment Date to the Holder of record as of on such a Regular Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(dv) Except as provided in this Section 11.0115.01, the Securities Notes shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities Notes may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November 15June 6, 20192014, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150greater than or equal to 130% of Conversion Price then in effect for at least 20 Trading Days during the any 30 consecutive Trading Day period immediately preceding ending within five Trading Days of the date on which the Company provides notice of such redemption (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem Notes pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be Notes redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date, or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing; provided, however, that if Securities Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record as of such Record Date.
(2) in on the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The No Notes may be redeemed by the Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, pursuant to an Optional Redemption if any) thereon the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating 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 Notes.
(d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Callidus Software Inc)
Right to Redeem. (a) The Securities may be redeemed in whole On or in part at the option of the Company:
(1) on or after November before December 15, 20192018, if the Closing Price of Notes will not be redeemable at the Company’s Common Stock has been option. The Company shall have the right, at least 150% of Conversion Price then in effect for the Company’s option, at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date any time, on which the Company provides notice of redemption; and
(2) on or prior to November a Redemption Date after December 15, 20102018, if any Tax Triggering Event has occurred.
to redeem (b) The redemption price at which the Securities are redeemable (the a “Redemption PriceRedemption”) shall be all or, from time to time, any part of the Notes at a Redemption Price payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities the Notes to be redeemed, together with plus accrued and unpaid interest (including Contingent Interest and Additional Interestinterest, if any) , to, but excluding, such Redemption Date if the Closing Sale Price per share of Common Stock is more than one hundred and twenty percent (120%) of the then current Conversion Price for each of at least twenty (20) Trading Days in the thirty (30) consecutive Trading Days ending on, and including, the Trading Day prior to the mailing of the notice of Redemption Datepursuant to Section 3.03 of the Base Indenture and Section 3.02 hereof; provided, however, that if Securities are redeemed on the Redemption Date with respect to a date that Note is after a Regular Record Date for the payment of an installment of interest and prior to on or before the corresponding related Interest Payment Date, then accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of on such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) Note to, but excluding, the such Redemption Date and (B) if shall be paid, on such Redemption Date, to the Redemption 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 Holder of such Securities from their Note at the close of business on such Regular Record Date, and the Holder surrendering such Note for Redemption Conversion Value as shall not be entitled to any such interest unless such Holder was also the Holder of record of such Note at the Redemption close of business on such Regular Record Date; provided, howeverfurther, that if Securities are redeemed in no event shall the Company redeem any Notes at a time when the Company has failed to pay interest on a date that the Notes and such failure to pay is after a Record Date and prior continuing. Notwithstanding anything to the corresponding Interest Payment Datecontrary in the Indenture or the Notes, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable the second sentence of the final paragraph of Section 3.05 of the Base Indenture shall not apply to the Holder of record as of such Record DateNotes.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. The Board of Directors of the Company may, at its option, at any time prior to the close of business on the tenth day following the Shares Aquisition Date, redeem all but not less than all of the then outstanding Rights at a redemption price of $.01 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (a) such redemption price being hereinafter referred to as the "REDEMPTION PRICE"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors; PROVIDED, HOWEVER, that if the Board of Directors of the Company authorizes redemption of the Rights after the time a Person becomes an Acquiring Person, then there must be Continuing Directors then in office and such authorization shall require the approval of at least a majority of such Continuing Directors. The Securities preceding sentence notwithstanding, prior to the expiration of the period during which the Rights may be redeemed as specified therein (or such longer period as the Board of Directors of the Company may select pursuant to this sentence), the Board of Directors of the Company may extend, one or more times, the period during which the Rights may be redeemed beyond the close of business on the tenth day following the Shares Acquisition Date; PROVIDED, HOWEVER, that there must be Continuing Directors then in whole office and any such extension shall require the approval of at least a majority of such Continuing Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish. Notwithstanding anything contained in this Agreement to the contrary notwithstanding, the Rights shall not be exercisable following a transaction or event described in part at Section 11.1.2 prior to the option expiration or termination of the Company:
(1) on or after November 15, 2019, if the Closing Price 's right of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredredemption hereunder.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities Notes may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November 15June 1, 20192020, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150greater than or equal to 130% of 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 such redemption (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurreda “Redemption”).
(b) The redemption price at which If the Securities are redeemable (Company elects to redeem the “Notes pursuant to a Redemption, the Redemption Price”) Price shall be payable in cash and shall be equal to:
to (1i) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be Notes redeemed, together with plus (ii) accrued and unpaid interest (interest, including Contingent Interest and Additional Interest, if any) , to, but excluding, the Redemption Date; provided, however, that if Securities . If the Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued and unpaid interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record as of such Record Date.
(2) in on the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a relevant Regular Record Date and prior to for the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The No Notes may be redeemed by the Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, pursuant to a Redemption if any) thereon the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
e) To the extent a Holder converts its Notes “in connection with” the Company’s election to redeem the Notes, the Company will increase the Conversion Rate as described in Section 7.07.
Appears in 1 contract
Samples: Indenture (Hc2 Holdings, Inc.)
Right to Redeem. (a) The Securities may be redeemed in whole or in part Company shall have the right, at the option of the Company:
(1) ’s option, at any time, on a Redemption Date on or after November before February 15, 2019, to redeem (a “Redemption”) all or, from time to time, any part of the Notes at a Redemption Price payable in cash equal to the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, such Redemption Date if the Closing Price Daily VWAP is at least one hundred thirty percent (130%) of the Company’s Common Stock has been then current Conversion Price for each of at least 150% of Conversion Price then in effect for at least 20 twenty (20) Trading Days during in the 30 thirty (30) consecutive Trading Days ending on, and including, the Trading Day period immediately preceding prior to the date on which mailing of the Company provides notice of redemption; and
(2) on or prior Redemption pursuant to November 15, 2010, if any Tax Triggering Event has occurredSection 3.03 of the Base Indenture and Section 3.02 hereof.
(b) The redemption price Company shall have the right, at which the Securities are redeemable Company’s option, at any time, on a Redemption Date after February 15, 2019, to redeem (the also, a “Redemption PriceRedemption”) shall be all or, from time to time, any part of the Notes at a Redemption Price payable in cash and shall be equal to:
(1) in to the case of a redemption pursuant to Section 11.01(a)(1), 100% OID Accretion Amount of the principal amount of Securities Notes to be redeemed, together with plus accrued and unpaid interest (including Contingent Interest and Additional Interestinterest, if any) , to, but excluding, such Redemption Date.
(c) Notwithstanding the foregoing clauses (a) and (b), and anything to the contrary in the Indenture or the Notes, (i) if the Redemption Date; provided, however, that if Securities are redeemed on Date with respect to a date that Note is after a Regular Record Date for the payment of an installment of interest and prior to on or before the corresponding Interest Payment Date, then accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of on such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) Note to, but excluding, the such Redemption Date and (B) if the Redemption Conversion Value as of the Redemption Date of the Securities being redeemed exceeds their Initial Conversion Valueshall be paid, 95% of the amount determined by subtracting the Initial Conversion Value of on such Securities from their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of such Note at the close of business on such Regular Record Date, and the Holder surrendering such Note for Redemption shall not be entitled to any such interest unless such Holder was also the Holder of record as of such Note at the close of business on such Regular Record Date.
Date and (cii) The in no event shall the Company may not redeem any Securities unless all accrued Notes at a time when the Company has failed to pay interest on the Notes and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or such failure to pay is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.continuing
(d) Except as provided Notwithstanding anything to the contrary in this Section 11.01the Indenture or the Notes, the Securities second sentence of the final paragraph of Section 3.05 of the Base Indenture shall not be redeemable by apply to the CompanyNotes.
Appears in 1 contract
Right to Redeem. The Board of Directors of the Company may, at its option, at any time prior to the close of business on the tenth day following the Shares Acquisition Date, redeem all but not less than all of the then outstanding Rights at a redemption price of $.01 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (a) such redemption price being hereinafter referred to as the "Redemption Price"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors; PROVIDED, HOWEVER, that if the Board of Directors of the Company authorizes redemption of the Rights after the time a Person becomes an Acquiring Person, then there must be Continuing Directors then in office and such authorization shall require the approval of at least a majority of such Continuing Directors. The Securities preceding sentence notwithstanding, prior to the expiration of the period during which the Rights may be redeemed as specified therein (or such longer period as the Board of Directors of the Company may select pursuant to this sentence), the Board of Directors of the Company may extend, one or more times, the period during which the Rights may be redeemed and, at its option if such period is extended, the Distribution Date, beyond the close of business on the tenth day following the Shares Acquisition Date; PROVIDED, HOWEVER, that there must be Continuing Directors then in whole office and any such extension shall require the approval of at least a majority of such Continuing Directors. The redemption of the Rights by the Board of Directors may be made effective at such time, on such basis and subject to such conditions as the Board of Directors in its sole discretion may establish. Notwithstanding anything contained in this Agreement to the contrary, the Rights shall not be exercisable following a transaction or event described in part at Section 11.1.2 prior to the option expiration or termination of the Company:
(1) on or after November 15, 2019, if the Closing Price 's right of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredredemption hereunder.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. No sinking fund is provided for the Notes. The Notes shall not be redeemable by the Company prior to April 20, 2023.
(a) The Securities On a Redemption Date occurring or after April 20, 2023, and on or before the 21st Scheduled Trading Day immediately before the Maturity Date, the Company may be redeemed in whole redeem (an “Optional Redemption”) for cash all or in part any portion of the Notes, at the option of the Company:
(1) on or after November 15, 2019’s option, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150130% of the Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive), including the Trading Day immediately preceding the date (the “Redemption Notice Date”) on which the Company provides a Redemption Notice, during the any 30 consecutive Trading Day period ending on, and including the Trading Day immediately preceding the date on which the Company provides notice of redemption; and
(2Redemption Notice Date, in accordance with Section 16.01(b) on or prior to November 15, 2010, if any Tax Triggering Event has occurredand Section 16.03.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in In the case of any Optional Redemption, the Company shall fix a date for redemption pursuant to (each, a “Redemption Date”) and the Company or, at the Company’s written request received by the Trustee in accordance with Section 11.01(a)(116.03(b), 100% the Trustee, in the name of and at the expense of the principal amount of Securities Company, shall deliver or cause to be redeemed, together with accrued and unpaid interest delivered a notice of such Optional Redemption (including Contingent Interest and Additional Interest, if anya “Redemption Notice”) to, but excludingnot less than 25 nor more than 40 Scheduled Trading Days prior to the Redemption Date to the Trustee, the Redemption Date; Paying Agent (if other than the Trustee) and each Holder of the Notes. provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interestthat, if any) will be payable to the Holder of record as of Company shall give such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2)notice, 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption Conversion Value as it shall also give written notice 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01Trustee, the Securities shall Conversion Agent (if other than the Trustee) and the Paying Agent (if other than the Trustee). In the case of any Optional Redemption in part, Holders of Notes not called for Optional Redemption will not be redeemable by the Companyentitled to an increased Conversion Rate for such Notes in accordance with Section 14.03 and Section 16.07.
Appears in 1 contract
Samples: Indenture (Slack Technologies, Inc.)
Right to Redeem. The Board of Directors of the Company may, at its option, at any time prior to the close of business on the tenth day following the Shares Acquisition Date, redeem all but not less than all of the then outstanding Rights at a redemption price of $.0001 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar transaction occurring after the date hereof (a) such redemption price being hereinafter referred to as the "REDEMPTION PRICE"), and the Company may, at its option, pay the Redemption Price in Common Shares (based on the "current per share market price," determined pursuant to Section 11.4, of the Common Shares at the time of redemption), cash or any other form of consideration deemed appropriate by the Board of Directors; PROVIDED, HOWEVER, that if the Board of Directors of the Company authorizes redemption of the Rights after the time a Person becomes an Acquiring Person, then there must be Continuing Directors then in office and such authorization shall require the approval of at least a majority of such Continuing Directors. The Securities preceding sentence notwithstanding, prior to the expiration of the period during which the Rights may be redeemed in whole as specified therein (or in part at such longer period as the option Board of Directors of the Company:
(1) on or after November 15Company may select pursuant to this sentence), 2019, if the Closing Price Board of Directors of the Company’s Common Stock has been Company may extend, one or more times, the period during which the Rights may be redeemed beyond the close of business on the tenth day following the Shares Acquisition Date; PROVIDED, HOWEVER, that there must be Continuing Directors then in office and any such extension shall require the approval of at least 150% a majority of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice of redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) The redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.such
Appears in 1 contract
Right to Redeem. (a) The Securities may be redeemed Acquisition-Based Redemption by the Company.
(i) If the Acquisition is not, or the Board of Directors reasonably determines in whole or in part good faith that it will not be, consummated by February 28, 2012, the Company may, at the option its option, redeem all (but not less than all) of the Company:
(1) on or after November 15Notes, 2019, if except for the Closing Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during the 30 consecutive Trading Day period immediately preceding the date on which Notes that the Company provides notice of redemption; and
(2) is required to repurchase pursuant to Article 3, on a Redemption Date on or prior to November 15May 31, 2010, if any Tax Triggering Event has occurred.
(b) The 2012 in cash at a redemption price at which the Securities are redeemable (the “Acquisition-Based Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excluding, the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5101% of the principal amount of the Securities being redeemed Notes to be redeemed, plus (A) accrued and unpaid interest to, but not including, the Redemption Date, plus the applicable Conversion Premium (including Additional Interestsuch redemption, an “Acquisition-Based Redemption”).
(ii) If the Company redeems Notes as provided in this Section 12.01(a), the Company shall make a cash payment (the “Conversion Premium”) per $1,000 principal amount of Notes equal to 80% of the excess, if any, of (x) tothe sum of the Daily Conversion Values (but determined for such purpose as though (x) references to “40” consecutive VWAP Trading Days were replaced with a reference to “10” consecutive VWAP Trading Days, but excluding(y) references to “Observation Period” were replaced with a reference to the “Redemption Reference Period” and (z) references to “2.5”% were replaced with a reference to “10%”) for each VWAP Trading Day during the ten consecutive VWAP Trading Day period (the “Redemption Reference Period”) ending on, and including the VWAP Trading Day immediately preceding the Redemption Reference Date and over (By) if the Redemption 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 per $1,000 principal amount of such Securities from their Redemption Conversion Value as of the Redemption DateNotes; provided, however, the Company will not make the Conversion Premium payment on Notes called for Acquisition-Based Redemption that are converted after the date the Company delivered the Notice Redemption. Notwithstanding the foregoing, if Securities are redeemed on the Company sets a date that is after Redemption Date between a Regular Record Date and prior to the corresponding Interest Payment Date, the Company will not pay accrued interest to any redeeming Holder, and unpaid will instead pay the full amount of the relevant interest (including any Contingent payment on such Interest and Additional Interest, if any) will be payable Payment Date to the Holder holder of record as of on such a Regular Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Castle a M & Co)
Right to Redeem. (a) The Prior to the Par Call Date, the Company shall be entitled to redeem the Securities may be redeemed at its option, in whole or in part at the option of the Company:
(1) on or after November 15part, 2019, if provided that the Closing Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date of the Redemption Notice exceeds 130% of the applicable Conversion Price for the Securities on which each applicable Trading Day. At any time on or after the Par Call Date and prior to the Final Maturity Date, the Company provides notice of redemption; and
(2) on shall be entitled to redeem the Securities at its option, in whole or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) in part. The redemption price at which for the Securities are redeemable to be redeemed on any Redemption Date (the “Redemption Price”) shall be payable in cash and shall be will equal to:
(1a) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of the Securities to be redeemed, together with being redeemed plus (b) accrued and unpaid interest (including Contingent Interest and Additional Interestadditional interest), if any) , to, but excluding, the Redemption Date; provided, howeverunless 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 (including any additional interest), if any, to the Holder of record as of the close of business on such Record Date (it being understood that if the Trustee does not have an affirmative duty to calculate the Redemption Price and that the Trustee is entitled to rely upon the request of the Company in a Redemption Notice). If Securities are redeemed on a date that is after a Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest will not be paid to the Holder of Securities being redeemed, and Additional Interest, if any) instead the full amount of the relevant interest payment will be payable paid on such Interest Payment Date to the Holder of record as of on such Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Right to Redeem. (a) The Securities may Notes shall not be redeemed redeemable before August 20, 2022, and no sinking fund is provided for the Notes. On or after such date, the Company shall be entitled to redeem the Notes at its option, in whole or in part part, except for any Notes that the Company is required to repurchase as provided under Section 3.01, in cash at the option of Redemption Price as set forth in this Section 15.01; provided that the Company:
(1) on or after November 15, 2019, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days during (whether or not consecutive), including the 30 consecutive Trading Day period immediately preceding the date on which the Company provides notice the Redemption Notice, during any 30 consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the date on which the Company provides the Redemption Notice, exceeds 130% of redemption; and
(2) the applicable Conversion Price for the Notes on or prior to November 15, 2010, if any Tax Triggering Event has occurred.
(b) each applicable Trading Day as determined by the Company. The redemption price at which for the Securities are redeemable Notes to be redeemed on any Redemption Date (the “Redemption Price”) shall be payable in cash and shall be will equal to:
(1a) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be redeemed, together with the Notes being redeemed plus (b) accrued and unpaid interest (including Contingent Interest and Additional Interest), if any) , to, but excluding, the Redemption Date; provided, howeverunless the Redemption Date falls after a Regular Record Date but on or prior to the immediately succeeding Interest Payment Date, that if Securities in which case the Company shall instead pay the full amount of accrued and unpaid interest, including any Additional Interest, to the Holder of record as of the close of business on such Regular Record Date and the Redemption Price will be 100% of the principal amount of Notes to be redeemed. If Notes are redeemed on a date that is after a Regular Record Date for the payment of interest and on or prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest will not be paid to the Holder of Notes being redeemed, and Additional Interest, if any) instead the full amount of the relevant interest payment will be payable paid on such Interest Payment Date to the Holder of record as of on such Regular Record Date.
(2) in the case of a redemption pursuant to Section 11.01(a)(2), 101.5% of the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the . The Redemption Date must be a Business Day and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and must be prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to 43rd Scheduled Trading Day immediately preceding the Holder of record as of such Record DateStated Maturity.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Proofpoint Inc)
Right to Redeem. (a) Optional Redemption on or after December 19, 2015
(i) The Securities Notes may be redeemed in whole or in part at the option of the Company:
(1) Company on or after November 15December 19, 20192015, if the Closing Last Reported Sale Price of the Company’s Common Stock has been at least greater than or equal to 150% of Conversion Exchange 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 such redemption (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(bii) The redemption price at which If the Securities are redeemable (Company elects to redeem Notes pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
to the sum of (1A) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount Principal Amount of Securities to be Notes redeemed, together with (B) accrued and unpaid interest (interest, including Contingent Interest and Additional Interest, if any) , to, but excluding, the Redemption DateDate and (C) the sum of the remaining scheduled payments of interest that would have been made on the Notes to be redeemed had such Notes remained outstanding from the Redemption Date to the Maturity Date (excluding interest accrued to, but excluding, the Redemption Date that is otherwise paid pursuant to the immediately preceding clause (B)); provided, however, that if Securities Notes are redeemed on a date that is after a Regular Record Date and prior to the corresponding Interest Payment Date, the accrued interest payable in respect of such Interest Payment Date shall not be payable to Holders of the Notes to whom the Principal Amount of the Notes being redeemed pursuant to the Optional Redemption is paid, and shall instead pay the full amount of the relevant interest payment on such Interest Payment Date to the Holder of record on the relevant Regular Record Date for the corresponding Interest Payment Date. Except as described above, the Company may not redeem any Notes unless all accrued and unpaid interest (thereon, including any Contingent Interest and Additional Interest, if any) will be payable , has been or is simultaneously paid for all semiannual interest periods or portions thereof terminating prior to the Holder of record as of such Record Redemption Date.
(2b) Optional Redemption for Changes in the case Tax Laws of a redemption pursuant Relevant Taxing Jurisdiction
(i) The Company may, at its option, offer to Section 11.01(a)(2redeem the Notes, in whole but not in part (except in respect of certain Excluded Holders), 101.5at a price (the “Tax Redemption Price”) payable in cash and equal to (A) 100% of the principal amount of the Securities Notes being redeemed plus (AB) accrued and unpaid interest (interest, including Additional Interest, if any, to, but excluding, the Tax Redemption Date plus (C) the sum of the remaining scheduled payments of interest that would have been made on the Notes to be redeemed had such Notes remained outstanding from the Redemption Date to the Maturity Date (excluding interest accrued to, but excluding, the Redemption Date and that is otherwise paid pursuant to the immediately preceding clause (B) plus (D) for the avoidance of doubt, any Additional Amounts with respect to such Tax Redemption Price, if the Company has, or on the next Interest Payment Date would, become obligated to pay to the Holders Additional Amounts (that are more than a de minimis amount) as a result of any change or amendment occurring on or after the date of the Offering Memorandum in the laws or any rules or regulations of a Relevant Taxing Jurisdiction or any change or amendment on or after the date of the Offering Memorandum in an interpretation, administration or application of such laws, rules or regulations by any legislative body, court, governmental agency, taxing authority or regulatory or administrative authority of such Relevant Taxing Jurisdiction (including the enactment of any legislation and the formal announcement or publication of any judicial decision or regulatory or administrative interpretation or determination (a “Change in Tax Law” and such redemption, a “Tax Redemption”); provided, that the Company may only elect a Tax Redemption Conversion Value as if (x) the Company cannot avoid these obligations by taking commercially reasonable measures available to it and (y) the Company delivers to the Trustee an opinion of outside legal counsel of recognized standing in the Relevant Taxing Jurisdiction and an Officer’s Certificate attesting to such Change in Tax Law and obligation to pay Additional Amounts and (z) the obligation to pay Additional Amounts is still in effect on the Redemption Date. If 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is occurs after a Regular Record Date and prior to the corresponding Interest Payment Date, the Company will not pay accrued interest to the Holder of the Notes being redeemed, and unpaid will instead pay the full amount of the relevant interest (including any Contingent payment on such Interest and Additional Interest, if any) will be payable Payment Date to the Holder of record as at the Close of such Business on the corresponding Regular Record Date.
(c) The . Except as described in this Section 5.01(b), the Company may not redeem any Securities Notes unless all accrued and unpaid interest (thereon, including Contingent Interest and Additional Interest, if any) thereon , has been or is simultaneously paid for all semi-annual semiannual interest periods or portions thereof terminating prior to the Redemption Date.
(ii) Notwithstanding anything to the contrary in this Section 5.01(b), the Company may not redeem the Notes in the case that Additional Amounts are, or as a result of a Change in Tax Law would be, payable in respect of United Kingdom or Luxembourg withholding tax if no Additional Amounts would be payable if the Notes were listed on a recognized stock exchange for United Kingdom or Luxembourg tax purposes, as appropriate, on the next Interest Payment Date.
(c) No Notes may be redeemed by the Company pursuant to an Optional Redemption if the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the Redemption Date.
(d) Except as provided in this Section 11.015.01, the Securities Notes shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Oclaro, Inc.)
Right to Redeem. (a) The Securities may be redeemed Beginning [ ], 201910, the Company may, at its option, redeem the Securities, in whole or in part at part, other than the option of Securities that the Company:
(1) on or after November 15, 2019Company is required to repurchase pursuant to Article 3, if the Closing Sale Price of the Company’s Common Stock has been at least 150% of Conversion Price then in effect Ordinary Shares for at least 20 or more Trading Days during in the period of 30 consecutive Trading Days ending on the Trading Day period immediately preceding prior to the date on which the Company provides notice of such redemption exceeds 150% of the applicable Conversion Price in effect on each such Trading Day (such redemption; and
(2) on or prior to November 15, 2010, if any Tax Triggering Event has occurredan “Optional Redemption”).
(ba) The redemption price at which If the Company elects to redeem Securities are redeemable (pursuant to an Optional Redemption, the “Redemption Price”) Price shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be being redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, in the case of a Default by the Company in the payment of the Redemption Price, the day on which such Default is no longer continuing); provided, howeverprovided further, that if Securities are redeemed on a date that is the Redemption Date occurs after a Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid the interest (including any Contingent payable in respect of such Interest and Additional Interest, if any) will Payment Date shall be payable to the Holder Holders of record as at the Close of such Business on the corresponding Record Date.
(2) in , and the case of a Redemption Price payable to the Holder who presents the Security for redemption pursuant to Section 11.01(a)(2), 101.5shall be 100% of the principal amount of such Security. 10 To be the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption Conversion Value as fifth anniversary 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Issue Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon has been or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(d) Except as provided in this Section 11.01, the Securities shall not be redeemable by the Company.
Appears in 1 contract
Samples: Indenture (Avago Technologies LTD)
Right to Redeem. (ai) The Securities may Prior to August 1, 2023, the Notes will not be redeemed in whole or in part redeemable at the option Company’s option. On or after August 1, 2023 (but in the case of a redemption of less than all outstanding Notes, no later than the 40th Scheduled Trading Day immediately before the Maturity Date), the Company may, at its option, redeem (such redemption, an “Optional Redemption”) all or any portion (in Authorized Denominations) of the Company:
Notes, except for the Notes that the Company is required to repurchase pursuant to Section 14.01, if the Last Reported Sale Price of the Common Stock equals or exceeds 130% of the applicable Conversion Price in effect for (1) on or after November 15, 2019, if the Closing Price each of the Company’s Common Stock has been at least 150% of Conversion Price then in effect for at least 20 Trading Days (whether or not consecutive) during the any 30 consecutive Trading Days ending on, and including, the Trading Day period immediately preceding before the date on which the Company provides notice sends the related Notice of redemptionOptional Redemption; and
and (2) on or prior the Trading Day immediately before the date the Company sends such Notice of Optional Redemption. For the avoidance of doubt, the sending of a Notice of Optional Redemption with respect to November 15, 2010, if any Tax Triggering Event has occurreda Note will constitute a Make-Whole Fundamental Change only with respect to the portion of such Note that is subject to redemption.
(bii) The If the Company elects to redeem Notes pursuant to an Optional Redemption, the redemption price at which the Securities are redeemable (the “Redemption Price”) shall be payable in cash and shall be equal to:
(1) in the case of a redemption pursuant to Section 11.01(a)(1), 100% of the principal amount of Securities to be Notes being redeemed, together with accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) to, but excludingnot including, the Redemption DateDate (or, if the Company Defaults in the payment of the Redemption Price, the day on which such Default is no longer continuing); provided, however, that that, notwithstanding the foregoing, if Securities are redeemed on the Redemption Date for a date that Note is after a Regular Record Date and prior to on or before the corresponding Interest Payment Date, then (x) the Holder of such Note at the Close of Business on such Regular Record Date will be entitled, notwithstanding such redemption, to receive, on or before such Interest Payment Date, the unpaid interest that would have accrued on such Note to, but excluding, such Interest Payment Date; and (y) the Redemption Price will not include accrued and unpaid interest (including any Contingent Interest and Additional Intereston such Note to, if any) will be payable to the Holder of record as of but excluding, such Record Redemption Date.
(2iii) in No Notes may be redeemed by the case of a redemption Company pursuant to Section 11.01(a)(2), 101.5% of an Optional Redemption if the principal amount of the Securities being redeemed plus (A) accrued and unpaid interest (including Additional Interest, if any) to, but excluding, the Redemption Date and (B) if the Redemption 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 their Redemption Conversion Value as of the Redemption Date; provided, however, that if Securities are redeemed on a date that is after a Record Date and prior to the corresponding Interest Payment Date, accrued and unpaid interest (including any Contingent Interest and Additional Interest, if any) will be payable to the Holder of record as of such Record Date.
(c) The Company may not redeem any Securities unless all accrued and unpaid interest (including Contingent Interest and Additional Interest, if any) thereon Notes has been accelerated, and such acceleration has not been rescinded, on or is simultaneously paid for all semi-annual periods or portions thereof terminating prior to the Redemption Date.
(div) Except as provided in this Section 11.0115.01, the Securities Notes shall not be redeemable by the Company.
(v) The Company will comply with the Applicable Procedures with respect to any Global Note that is called for redemption.
Appears in 1 contract
Samples: Indenture (Pacira BioSciences, Inc.)