Common use of Surrender of Debentures for Cancellation Clause in Contracts

Surrender of Debentures for Cancellation. If the principal monies due upon any Debenture issued hereunder shall become payable by redemption or otherwise before the date of maturity thereof, the person presenting such Debenture for payment shall surrender the same for cancellation and the Company shall notwithstanding such surrender pay the interest accrued and unpaid thereon (computed on a per diem basis) up to the date on which the principal monies are due if the date fixed for payment of the principal amount is not an interest due date.

Appears in 2 contracts

Samples: Trust Indenture (Radiant Energy Corp), Trust Indenture (Radiant Energy Corp)

AutoNDA by SimpleDocs

Surrender of Debentures for Cancellation. If the principal monies due upon any Debenture issued hereunder shall become payable by redemption or otherwise before the date of maturity thereof, the person presenting such Debenture for payment shall must surrender the same for cancellation and cancellation, the Company shall notwithstanding such surrender pay Corporation nevertheless paying or causing to be paid the interest accrued and unpaid thereon (computed on a per diem basis) up to the date on which the principal monies are due basis if the date fixed for payment of the principal amount is not an interest due date).

Appears in 1 contract

Samples: Trust Indenture (Poly-Pacific International Inc.)

Surrender of Debentures for Cancellation. If the principal monies moneys due upon any Debenture issued hereunder shall become payable by redemption or otherwise before the date of maturity thereofMaturity Date, the person Person presenting such Debenture for payment shall must surrender the same for cancellation and cancellation, the Company shall notwithstanding such surrender pay Corporation nevertheless paying or causing to be paid the interest accrued and unpaid thereon (computed on a per diem basis) up to the date on which the principal monies are due basis if the date fixed for payment of the principal amount is not an interest due dateInterest Payment Date).

Appears in 1 contract

Samples: Trust Indenture (MDC Partners Inc)

AutoNDA by SimpleDocs

Surrender of Debentures for Cancellation. If the principal monies moneys due upon any Debenture issued hereunder shall become payable by redemption or purchase pursuant to an Offer to Purchase or otherwise before the date of maturity thereofMaturity Date, the person Person presenting such Debenture Debentures for payment shall must surrender the same for cancellation and cancellation, the Company shall notwithstanding such surrender pay Corporation nevertheless, subject to section 2.7, paying or causing to be paid the interest accrued and unpaid thereon (computed on a per diem basis) up to the date on which the principal monies are due basis if the date fixed for payment of the principal amount is not an a date when interest due dateis payable on the Debentures).

Appears in 1 contract

Samples: Trust Indenture (Certicom Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!