Early Redemption Day definition
Examples of Early Redemption Day in a sentence
If the Notes have not been redeemed by the Bank at the Early Redemption Day (as defined below), each holder of Notes (each a “Holder” and, collectively, the “Holders”) will receive on the Maturity Date, in respect of each Note held by such Holder, an amount equal to the greater of: (a) the Principal Amount, and (b) the Principal Amount multiplied by the quotient of the Maturity NAV (as defined below) over the Starting NAV (as defined below).
If the Bank effects a Bank Early Redemption, it will make available to Holders of record on the Bank Early Redemption Day, no later than 10:00 a.m. (Montreal time) on the fifth Business Day following the Bank Early Redemption Day, the amount payable pursuant to such redemption.
With the exception of a payment made on the Early Redemption Day, or as otherwise provided herein, no payment will be made prior to the Maturity Date.
Any Early Redemption Request Form shall be served and delivered at the address prescribed therein at least 10 Business Days prior to an Early Redemption Day for the Early Redemption Request to be processed at the Early Redemption Price prevailing on that Early Redemption Day.
Reference Portfolio Return Bank Early Redemption Day On the Bank Early Redemption Day, the Bank, at its sole discretion, will be entitled to redeem all of the Deposit Notes then outstanding at a price of $140.06 per Deposit Notes (a 40.06% premium over the Initial Deposit Amount), representing an annual compounded rate of return of approximately 8.25% as of the Bank Early Redemption Day.
On the day falling four years after the Issuance Date of a series of Notes (the “Early Redemption Day”), the Bank will be entitled to redeem prior to maturity all of the Notes of that series then outstanding at a price of $136.05 per Note, namely a 36.05% premium with respect to the Principal Amount representing, on the Early Redemption Day, an annual compounded rate of return of approximately 8.00%.
Indicative prices for early redemption will be regularly posted on the Issuer’s website after the Close Period andpayment of redemption proceeds (net of bank charges) will be effected within 10 Business Days of the Early Redemption Day by electronic funds transfer to the relevant Noteholder.Upon the redemption of a Note, the investor shall cease to be entitled to any rights in respect thereof and accordingly his name shall be removed from the Register with respect to such Note.
The notice regarding the Early Redemption Day shall be published in an immediate report and in two widely circulated newspapers in Hebrew and will be delivered in writing to all registered Bondholders.