Redemption; Repayment; Acceleration Sample Clauses
The 'Redemption; Repayment; Acceleration' clause defines the terms under which a borrower must repay a debt, including the circumstances that allow for early repayment or require immediate repayment of the outstanding amount. It typically outlines scheduled repayment dates, the process for redeeming the debt before maturity, and specific events—such as default or breach of contract—that trigger acceleration, making the entire balance due immediately. This clause ensures both parties understand when and how the debt can be repaid or must be repaid early, thereby managing risk and providing clarity in the event of unforeseen circumstances.
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Redemption; Repayment; Acceleration. In the event a Discount Note is redeemed, repaid or accelerated, the amount payable to the Holder of such Discount Note will be equal to the sum of: (A) the Issue Price (increased by any accruals of Discount); and (B) any unpaid interest accrued on such Discount Note to the Maturity Date (“Amortized Face Amount”). Unless otherwise specified on the face hereof, for purposes of determining the amount of Discount that has accrued as of any date on which a redemption, repayment or acceleration of maturity occurs for a Discount Note, a Discount will be accrued using a constant yield method. The constant yield will be calculated using a 30-day month, 360-day year convention, a compounding period that, except for the Initial Period (as defined below), corresponds to the shortest period between Interest Payment Dates for the applicable Discount Note (with ratable accruals within a compounding period), a coupon rate equal to the initial coupon rate applicable to the applicable Discount Note and an assumption that the maturity of such Discount Note will not be accelerated. If the period from the date of issue to the first Interest Payment Date for a Discount Note (the “Initial Period”) is shorter than the compounding period for such Discount Note, a proportionate amount of the yield for an entire compounding period will be accrued. If the Initial Period is longer than the compounding period, then the period will be divided into a regular compounding period and a short period with the short period being treated as provided above.