Common use of Special Event Prepayment Clause in Contracts

Special Event Prepayment. If, prior to the Initial Optional Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 3.2(a) but subject to Section 3.2(c), the Company shall have the right, at any time within 180 days following the occurrence of such Special Event, upon (i) not less than 45 days prior written notice to the Trustee, and (ii) not less than 30 days nor more than 60 days prior written notice to the Holders, to prepay the Debentures, in whole (but not in part), at a prepayment price equal to 100% of the principal amount of the Debentures plus accrued and unpaid interest thereon (including Compounded Interest), if any, and Additional Sums, if any, to the applicable date of prepayment (the "Prepayment Price"). The 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 Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Prepayment Price by 10:00 a.m., New York City time, on the date such Prepayment Price is to be paid.

Appears in 2 contracts

Samples: Sterling Bancshares Inc, Sterling Bancshares Inc

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Special Event Prepayment. If, prior to the Initial Optional Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 3.2(a) but subject to Section 3.2(c), the Company shall have the right, at any time within 180 days following the occurrence of such Special Event, upon (i) not less than 45 days prior written notice to the Trustee, and (ii) not less than 30 days nor more than 60 days prior written notice to the Holders, to prepay the Debentures, in whole (but not in part), at a prepayment price equal to 100% of the principal amount of the Debentures Debenture, plus accrued and unpaid interest thereon (including Compounded Interest), if any, and Additional Sums, if any, to the applicable date of prepayment (the "Prepayment Price"). The 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 Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Prepayment Price by 10:00 a.m., New York City time, on the date such Prepayment Price is to be paid.

Appears in 1 contract

Samples: Sterling Bancshares Capital Trust Ii

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Special Event Prepayment. If, prior to the Initial Optional Prepayment Date, a Special Event has occurred and is continuing, then notwithstanding Section 3.2(a) but subject to Section 3.2(c), the Company shall have the right, at any time within 180 days following the occurrence of such Special Event, upon (i) not less than 45 days prior written notice to the Trustee, and (ii) not less than 30 days nor more than 60 days prior written notice to the Holders, to prepay the Debentures, in whole (but not in part), at a prepayment price equal to 100% of the principal amount of the Debentures Debentures, plus accrued and unpaid interest thereon (including Compounded Interest), if any, and Additional Sums, if any, to the applicable date of prepayment (the "Prepayment Price"). The 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 Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Prepayment Price by 10:00 a.m., New York City time, on the date such Prepayment Price is to be paid.

Appears in 1 contract

Samples: Sterling Bancshares Capital Trust Ii

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