Section 89 definition
Examples of Section 89 in a sentence
Such date shall be not less than ten (10) days and not more than twenty (20) days after the date of such offer (if the Section 8.9 Proposed Prepayment Date shall not be specified in such offer, the Section 8.9 Proposed Prepayment Date shall be the first Business Day after the 15th day after the date of such offer).
Prepayment of the Notes to be prepaid pursuant to this Section 8.9 shall be at 100% of the principal amount of such Notes, together with interest on such Notes accrued to, but excluding, the date of prepayment, but without Make-Whole Amount or other premium.
From and after the Trigger Date until such time as the Company has given written notice to each holder of the Note of the completion of an IPO, the Company will, on each Excess Cash Offer Date, give written notice to each holder of Notes, that it still has not consummated an IPO, and such notice shall contain and constitute an offer to prepay Notes as described in subparagraph (b) of this Section 8.9 and shall be accompanied by the certificate described in subparagraph (e) of this Section 8.9.
A holder of Notes may accept the offer to prepay made pursuant to this Section 8.9 by causing a notice of such acceptance to be delivered to the Company not later than five (5) Business Days after receipt by such holder of the most recent offer of prepayment.
The prepayment will be made on the Section 8.9 Proposed Prepayment Date.
A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.9 shall be deemed to constitute rejection of such offer by such holder.
The offer to prepay Notes contemplated by subparagraph (a) of this Section 8.9 shall be an offer to prepay the Notes held by each holder in an amount equal to each such holder’s Pro Rata Share of Excess Cash as of the applicable Excess Cash Calculation Date in accordance with and subject to this Section 8.9 on a date specified in such offer (the “Section 8.9 Proposed Prepayment Date”).