Common use of Special Event Prepayment Clause in Contracts

Special Event Prepayment. If, prior to the Initial Optional Redemption Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: (i) not less than 45 days' written notice to the Debenture Trustee; and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 2 contracts

Samples: BFD Preferred Capital Trust Ii, New York Community Bancorp Inc

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Special Event Prepayment. If, prior to the Initial Optional Redemption Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' days written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' days written notice to the SecurityholdersDebentureholders, to prepay the SecuritiesJunior Subordinated Debentures, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including without limitation the appointment by the Corporation of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 2 contracts

Samples: Satisfaction And (Mainstreet Bankgroup Inc), Mainstreet Bankgroup Inc

Special Event Prepayment. If, prior to the Initial Optional Redemption Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including, without limitation, the appointment of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 2 contracts

Samples: Indenture (Interwest Bancorp Inc), Indenture (Bfoh Capital Trust I)

Special Event Prepayment. If, prior to the Initial Optional Redemption Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a14.2(a) but subject to Section 14.02(c14.2(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Valley National Bancorp)

Special Event Prepayment. If, prior to the Initial Optional Redemption Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' days written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including, without limitation, the appointment of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Reliance Capital Trust I)

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Special Event Prepayment. If, prior to the Initial Optional Redemption Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' days written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including without limitation the appointment of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York, New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Banknorth Capital Trust I)

Special Event Prepayment. If, prior to the Initial Optional Redemption Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' days written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' days written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including without limitation the appointment by the Corporation of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Webster Capital Trust Ii)

Special Event Prepayment. If, prior to the Initial Optional Redemption Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 14.02(a) but subject to Section 14.02(c), the Corporation shall have the right, at any time within 90 days following the occurrence of such Special Event, upon: upon (i) not less than 45 days' days written notice to the Debenture Trustee; Trustee and (ii) not less than 30 days nor more than 60 days' written notice to the Securityholders, to prepay the Securities, in whole (but not in part), at the Special Event Prepayment Price. Following a Special Event, the Corporation shall take such action as is necessary to promptly determine the Special Event Prepayment Price, including, without limitation, the appointment of a Quotation Agent. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York City time, on the date of such prepayment or such earlier time as the Corporation determines, provided that the Corporation shall deposit with the Debenture Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York City time, on the date such Special Event Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Telebanc Capital Trust I)

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