2041 Notes Clause Samples
The '2041 Notes' clause defines the specific terms and conditions related to a series of debt securities maturing in the year 2041. It typically outlines details such as interest rates, payment schedules, redemption rights, and any covenants or restrictions associated with these notes. For example, it may specify when interest payments are due, under what circumstances the notes can be called or repaid early, and the rights of noteholders in the event of default. The core function of this clause is to provide clear, binding terms for both the issuer and investors, ensuring transparency and predictability regarding the obligations and rights tied to the 2041 Notes.
2041 Notes. The 2041 Notes will bear interest at the rate of 3.250% per annum. Interest on the 2041 Notes will be computed on the basis of a 360-day year of twelve 30-day months. Interest on the 2041 Notes will be payable semi-annually in arrears on May 15 and November 15, commencing November 15, 2021, and ending on the date of maturity, to the Persons in whose names the 2041 Notes are registered on the preceding May 1 and November 1 (whether or not that date is a Business Day), respectively.
2041 Notes. At any time and from time to time before May 15, 2041, the 2041 Notes will be redeemable, in the Company’s sole discretion, in whole or in part, in principal amounts of $2,000 or any integral multiple of $1,000 in excess thereof for an amount equal to the greater of: