Common use of Tax Event Clause in Contracts

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.125% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, and shall be payable semiannually on July 20 and January 20 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 or January 1 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 2 contracts

Sources: First Supplemental Indenture (Masco Corp /De/), First Supplemental Indenture (Masco Corp /De/)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of Upon the occurrence of a Tax Event and Event, the Company may elect to pay interest on all the Securities in lieu of future Issue Discount at the rate of 1% per annum on a restated principal amount per $1,000 original Principal Amount at Maturity (iithe "Restated Principal Amount") equal to the Initial Accreted Principal Amount plus Issue Discount accrued through the date the Company exercises of such option, whichever is later election (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.125% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, ) and shall be payable semiannually pay such interest in cash semi-annually on July 20 February 8 and January 20 August 8 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 or January 1 the 15th calendar day immediately preceding such Interest Payment Date (each each, a "Regular Record Date") immediately preceding such Interest Payment Date). Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue semi-annually from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 2 contracts

Sources: Indenture (Countrywide Home Loans Inc), Indenture (Countrywide Financial Corp)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event (the “Tax Event Date”) and (ii) the date the Company exercises such optionthe option provided for in this paragraph 11, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1253.00% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ”) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on July 20 April 3 and January 20 October 3 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 March 19 or January 1 September 18 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 2 contracts

Sources: Indenture (CBRL Group Inc), Indenture (CBRL Group Inc)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.1253.25% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, and shall be payable semiannually on July 20 May 11 and January 20 November 11 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 April 28 or January 1 October 29 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 1 contract

Sources: Eleventh Supplemental Indenture (Horton D R Inc /De/)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the later of such dates, the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1251.875% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date. (b) From and after the Option Exercise Date, and contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Security. (c) Interest accrual on any Security under paragraph 11(a) above shall be payable semiannually on July 20 May 11 and January 20 November 11 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 April 26 or January 1 October 27 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest Such interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) . Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 1 contract

Sources: Indenture (Franklin Resources Inc)

Tax Event. (a) From and after the date (the "Option Exercise Date") that is the later of (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1253.5% per annum on the restated principal amount a Principal Amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on July 20 June 23 and January 20 December 23 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 June 8 or January 1 December 8 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) . Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date. Except as otherwise specified with respect to the Securities, any Defaulted Interest on any Security shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date for by virtue of having been such interest at the office or agency of Holder, and such Defaulted Interest may be paid by the Company maintained for such purpose. Each installment of interest on any Note shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest as provided for in paragraph 5 hereof shall cease to accrue on this NoteSection 2.14 of the Indenture.

Appears in 1 contract

Sources: Supplemental Indenture (Global Marine Inc)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1252.375% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on January 22 and July 20 and January 20 22 of each year (each an "Interest Payment Date") to holders of record at the close of business on January 7 or July 1 or January 1 7 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 1 contract

Sources: Indenture (Danaher Corp /De/)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and or (ii) the date the Company exercises such option, whichever is later (the later of such dates, the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1251.50% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date. (b) From and after the Option Exercise Date, and contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Security. (c) Interest accrual on any Security under paragraph 11(a) above shall be payable semiannually on July 20 August 13 and January 20 February 13 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 29 or January 1 29 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest Such interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) . Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 1 contract

Sources: Indenture (Eaton Vance Corp)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such optionthe option provided for in this paragraph 11, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.125.75% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on July 20 May 8 and January 20 November 8 of each year (each an "Interest Payment Date") to holders Holders of record at the close of business on July 1 the April 23 or January 1 October 23 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 1 contract

Sources: Indenture (Marriott International Inc /Md/)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.1254.75% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, and shall be payable semiannually semi-annually on July February 20 and January August 20 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 February 5 or January 1 August 5 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 1 contract

Sources: Indenture (Lear Corp /De/)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of Upon the occurrence of a Tax Event and Event, the Company may elect to pay interest on all the Securities in lieu of future Original Issue Discount at the rate of 1% per annum on a restated principal amount per $1,000 original Principal Amount at Maturity (iithe "Restated Principal Amount") equal to the Issue Price plus Original Issue Discount accrued through the date the Company exercises of such option, whichever is later election (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.125% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, ) and shall be payable semiannually pay such interest in cash semi-annually on July 20 February 8 and January 20 August 8 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 or January 1 the 15th calendar day immediately preceding such Interest Payment Date (each each, a "Regular Record Date") immediately preceding such Interest Payment Date). Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue semi-annually from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 1 contract

Sources: Indenture (Countrywide Home Loans Inc)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such optionthe option provided for in this paragraph 11, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1252.75% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on July 20 February 6 and January 20 August 6 of each year (each an "Interest Payment Date") to holders of record at the close of business on January 22 or July 1 or January 1 22 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 1 contract

Sources: Indenture (SPX Corp)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such optionthe option provided for in this paragraph 11, whichever is later (the "Option Exercise Date"), at the option of the Company, all interest in lieu of the Notes will cease to accrete, and cash interest future Original Issue Discount shall accrue at the rate of 3.1252.75% per annum on the restated a principal amount per Security (the "Restated Principal Amount"), ) equal to the Accreted Value on Issue Price plus Original Issue Discount accrued through the Option Exercise Date, Date and shall be payable semiannually on July 20 May 9 and January 20 November 9 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 April 24 or January 1 October 24 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note Security is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note Security shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this NoteSecurity.

Appears in 1 contract

Sources: Indenture (SPX Corp)

Tax Event. (a) From and after (i) the date (the "Tax Event Date") of the occurrence of a Tax Event and (ii) the date the Company exercises such option, whichever is later (the "Option Exercise Date"), at the option of the Company, all of the Notes will cease to accrete, and cash interest shall accrue at the rate of 3.1253.25% per annum on the restated principal amount (the "Restated Principal Amount"), equal to the Accreted Value on the Option Exercise Date, and shall be payable semiannually on July 20 May 11 and January 20 November 11 of each year (each an "Interest Payment Date") to holders of record at the close of business on July 1 April 27 or January 1 October 28 (each a "Regular Record Date") immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months and will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Option Exercise Date. (b) Interest on any Note that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that Note is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose. Each installment of interest on any Note shall be paid in same-day funds by transfer to an account maintained by the payee located inside the United States. (c) From and after the Option Exercise Date, contingent interest provided for in paragraph 5 hereof shall cease to accrue on this Note.

Appears in 1 contract

Sources: Eleventh Supplemental Indenture (Horton D R Inc /De/)