Common use of Special Redemption Clause in Contracts

Special Redemption. In the event the Company completes one or more Equity Offerings on or before June 1, 2006, the Company, at its option, may use the net cash proceeds from any such Equity Offering to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250% of the principal amount, together with accrued and unpaid interest and Additional Interest, if any, to the date of redemption; provided that (a) at least 65% of the principal amount of the Notes remains outstanding immediately after any such redemption and (b) such redemption shall occur not more than 90 days after the date of the closing of any such Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Omnova Solutions Inc)

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Special Redemption. In the event the Company completes one or more Public Equity Offerings on or before June 115, 20062005, the Company, at its option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250109.750% of the principal amount, together with accrued and unpaid interest and Additional Interest, Interest (if any), to the date of redemption; provided , provided, however, that (a) at least 65% of the original principal amount of the Notes remains issued will remain outstanding immediately after any each such redemption redemption; and (b) provided, further, that each such redemption shall occur not more than 90 within 120 days after the date of the closing of any such the applicable Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Ironton Iron Inc)

Special Redemption. In the event the Company completes one At any time, or more Equity Offerings from time to time, on or before prior to June 115, 2006, 2006 the Company, at its option, may use the net cash proceeds from any such of one or more Equity Offering Offerings to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250110.375% of the principal amount, together with accrued and unpaid interest and Additional Interest, Interest (if any), to the date of redemption; provided , provided, however, that (a) at least 65% of the original principal amount of the Notes remains issued will remain outstanding immediately after any each such redemption redemption; and (b) provided, further, that each such redemption shall occur not more than 90 60 days after the date of the closing consummation of any such the applicable Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Crum & Forster Holdings Corp)

Special Redemption. In the event the Company completes one or more Equity Offerings on or before June 1, 2006, the Company, at its option, may use the net cash proceeds from any such Equity Offering to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250% of the principal amount, together with accrued and unpaid interest and Additional Interestinterest, if any, to the date of redemption; provided that (a) at least 65% of the principal amount of the Notes remains outstanding immediately after any such redemption and (b) such redemption shall occur not more than 90 days after the date of the closing of any such Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Omnova Solutions Inc)

Special Redemption. In the event of the Company completes one or more completion of a Public Equity Offerings Offering on or before June August 1, 2006, the CompanyIssuers, at its their option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "β€œSpecial Redemption"”) at a Redemption Price of 111.250107.0% of the principal amount, together with accrued and unpaid interest and Additional Interest, (if any), to the date of redemption; provided , provided, however, that (a) at least 65% of the original principal amount of the Notes remains will remain outstanding immediately after any each such redemption redemption; and (b) provided, further, that each such redemption shall occur not more than 90 days after the date of the closing of any such the applicable Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Oak Ridger LLC)

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Special Redemption. In the event the Company completes one At any time, or more Equity Offerings from time to time, on or before prior to June 115, 2006, 2006 the Company, at its option, may use the net cash proceeds from any such of one or more Equity Offering Offerings to redeem up to 35% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250110.375% of the principal amount, together with accrued and unpaid interest and Additional Interest, if anyinterest, to the date of redemption; provided , provided, however, that (a) at least 65% of the original principal amount of the Notes remains issued will remain outstanding immediately after any each such redemption redemption; and (b) provided, further, that each such redemption shall occur not more than 90 60 days after the date of the closing consummation of any such the applicable Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Crum & Forster Holdings Corp)

Special Redemption. In the event Holdings or the Company Issuers completes one or more Equity Offerings on or before June 1April 15, 20062007, the CompanyIssuers, at its their option, may use the net cash proceeds from any such Equity Offering to redeem up to 3540% of the original principal amount of the Notes issued under the Indenture (a "Special Redemption") at a Redemption Price of 111.250109% of the principal amount, together with accrued and unpaid interest and Additional Interest, Interest (if any), to the date of redemption; provided , provided, however, that (a) at least 6560% of the original principal amount of the Notes remains will remain outstanding immediately after any each such redemption redemption; and (b) provided, further, that each such redemption shall occur not more than within 90 days after the date of the closing of any such the applicable Equity Offering. If less than all the Notes are to be redeemed, the The Trustee will select the particular Notes or portions thereof to be redeemed by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Superior Essex Inc)

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