Common use of Additional Interest Clause in Contracts

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 11 contracts

Sources: Indenture (FinVolution Group), Indenture (Bilibili Inc.), Indenture (Bilibili Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrarySection 6.02, to the extent the Company elects, the sole remedy for an Event of Default under Section 6.01(f) relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall 5.04 (such Event of Default, a “Reporting Event of Default”), will, for the 180 days after the occurrence of such an Reporting Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a an annual rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, then Outstanding commencing on the date on which such an a Reporting Event of Default first occurs and ending on the earlier of (i) the date on which such Reporting Event of Default is cured or validly waived or the 90th day following the occurrence of such Reporting Event of Default and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the such tranche of Notes outstanding for each day during the period beginning on, and including, commencing on the 91st day immediately following, and including, following the date on which occurrence of such an Reporting Event of Default first occurred (if such Reporting Event of Default is continuing on such 91st day) and ending on the earlier of (i) the date on which such Reporting Event of Default is cured or validly waived and (ii) or the 180th day immediately followingfollowing the occurrence of such Reporting Event of Default, in each case payable in the same manner and including, on the same dates as the stated interest payable on the Notes. (b) If the Reporting Event of Default is continuing on the 181st day after the date on which such Reporting Event of Default occurred, the Notes will be subject to acceleration as provided in Section 6.02(a). (c) In order to elect to pay the Additional Interest as the sole remedy during the first occurred180 days after the occurrence of a Reporting Event of Default, the Company must notify all Holders of Notes, the Trustee and the Paying Agent in writing of such election on or before the Close of Business on the fifth Business Day prior to the date on which such Reporting Event of Default would otherwise occur. Upon the Company’s failure to timely give such notice of such election or to pay the Additional Interest payable pursuant when due, the Notes will be immediately subject to acceleration by declaration of the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes Outstanding as provided in Section 6.02. Nothing in this Section 6.03 shall be affect the rights of Holders of Notes in addition to, not in lieu of, the event of the occurrence of any Additional Interest payable pursuant to Section 4.06(dother Event of Default. (d) or Section 4.06(e). In no event shall Additional Interest accruing pursuant to Sections 6.03(a) and 6.03(c) accrue on the Notes on any day under the terms of this Indenture (taking any such Additional Interest payable pursuant to this Section 6.03 Sections 6.03(a) and 6.03(c) together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)5.08) at an annual rate accruing in excess of 0.50%, in the aggregate, % for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Such Additional Interest shall will be payable in kind in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 7 contracts

Sources: Securities Purchase Agreement (SharonAI Holdings Inc.), Indenture (ProSomnus, Inc.), Indenture (ProSomnus, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue as a result of a registration default pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in in Section 6.02. The Company may elect to pay Additional Interest with respect to multiple Events of Default in a single written notification.

Appears in 6 contracts

Sources: Indenture (Royal Caribbean Cruises LTD), Indenture (Carnival PLC), Indenture (Carnival PLC)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the business day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 5 contracts

Sources: Indenture (Lyft, Inc.), Indenture (Impinj Inc), Indenture (Cloudflare, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking including any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 4 contracts

Sources: Indenture (iQIYI, Inc.), Indenture (Baidu, Inc.), Indenture (Pacific Alliance Group LTD)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrarySection 6.02, to the extent the Company elects, the sole remedy for an Event of Default (i) relating to any obligations the Company has or is deemed to have under Section 314(a)(1) of the Trust Indenture Act or (ii) under Section 6.01(f) relating to the Company’s failure to comply with its obligations as set forth Section 5.04 (which will be the 60th day after written notice is provided to the Company in Section 4.06(baccordance with such an event of default) shall (such Event of Default, a “Reporting Event of Default”), will, after the occurrence of such Reporting Event of Default, (i) consist exclusively of the right to receive Additional Interest at an annual rate equal to 0.25% of the aggregate principal amount of the Notes then Outstanding for each day during the 180-day period beginning on, and including, the day on which such a Reporting Event of Default occurs during which such Reporting Event of Default is continuing (or, if applicable, the earlier date on which such Reporting Event of Default is cured or waived) and (ii) consist exclusively of the right to receive Additional Interest on the Notes at a an annual rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes such tranche of notes outstanding for each day during the 185-day period beginning on, and including, the 91st immediately following such 180-day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%period, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be each case payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On . (b) If the 181st day after such Reporting Event of Default (if is continuing on the 366th day after the date on which such Reporting Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day)occurred, the Notes will be subject to acceleration as provided in Section 6.02. 6.02(a). (c) In the event the Company does not order to elect to pay the Additional Interest following an as the sole remedy during the first 365 days after the occurrence of a Reporting Event of Default, the Company must notify all Holders of Notes, the Trustee and the Paying Agent in writing of such election on or before the Close of Business on the fifth Business Day after the date on which such Reporting Event of Default in accordance with this Section 6.03 would otherwise occur. Upon the Company’s failure to timely give such notice of such election or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall will be immediately subject to acceleration by declaration of the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes Outstanding as provided in Section 6.02. In order to elect to pay Additional Interest as Nothing in this Section 6.03 shall affect the sole remedy during rights of Holders of Notes in the first 180 days after event of the occurrence of any other Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02Default.

Appears in 4 contracts

Sources: Agreement and Plan of Merger (Vivint Solar, Inc.), Agreement and Plan of Merger (Sunedison, Inc.), Agreement and Plan of Merger (Sunedison, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrarySection 6.02, to the extent the Company elects, the sole remedy for an Event of Default under Section 6.01(f) relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall 5.04 (such Event of Default, a “Reporting Event of Default”), will, for the 180 days after the occurrence of such an Reporting Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a an annual rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, then Outstanding commencing on the date on which such an a Reporting Event of Default first occurs and ending on the earlier of (i) the date on which such Reporting Event of Default is cured or validly waived or the 90th day following the occurrence of such Reporting Event of Default and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the such tranche of Notes outstanding for each day during the period beginning on, and including, commencing on the 91st day immediately following, and including, following the date on which occurrence of such an Reporting Event of Default first occurred (if such Reporting Event of Default is continuing on such 91st day) and ending on the earlier of (i) the date on which such Reporting Event of Default is cured or validly waived and (ii) or the 180th day immediately followingfollowing the occurrence of such Reporting Event of Default, in each case payable in the same manner and including, on the same dates as the stated interest payable on the Notes. (b) If the Reporting Event of Default is continuing on the 181st day after the date on which such Reporting Event of Default occurred, the Notes will be subject to acceleration as provided in Section 6.02(a). (c) In order to elect to pay the Additional Interest as the sole remedy during the first occurred180 days after the occurrence of a Reporting Event of Default, the Company must notify all Holders of Notes, the Trustee and the Paying Agent in writing of such election on or before the Close of Business on the fifth Business Day prior to the date on which such Reporting Event of Default would otherwise occur. Upon the Company’s failure to timely give such notice of such election or to pay the Additional Interest payable pursuant when due, the Notes will be immediately subject to acceleration by declaration of the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes Outstanding as provided in Section 6.02. Nothing in this Section 6.03 shall be affect the rights of Holders of Notes in addition to, not in lieu of, the event of the occurrence of any Additional Interest payable pursuant to Section 4.06(dother Event of Default. (d) or Section 4.06(e). In no event shall Additional Interest accruing pursuant to Sections 6.03(a) and 6.03(c) accrue on the Notes on any day under the terms of this Indenture (taking any such Additional Interest payable pursuant to this Section 6.03 Sections 6.03(a) and 6.03(c) together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)5.08) at an annual rate accruing in excess of 0.50%, in the aggregate, % for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Such Additional Interest shall will be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 3 contracts

Sources: Indenture (Teligent, Inc.), Indenture (Teligent, Inc.), Indenture (Igi Laboratories, Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the CompanyGuarantor’s failure to comply with its obligations as set forth in Section 4.06(b‎Section 4.06(c) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to ‎Section 4.06(f) and Section 6.03(b)) at a rate equal to: (a) A. 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) B. if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to For the avoidance of doubt, the first 180-day period set forth in this Section 6.03 shall be not commence until expiration of the 60-day period referenced in addition to, not in lieu of, any ‎Section 6.01(f) above. (b) Any Additional Interest payable pursuant to Section 6.03(a) shall be in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) or Section and 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under Notwithstanding anything in this Indenture (taking to the contrary, in no event, however, shall any Additional Interest payable pursuant to this that may accrue as a result of a Filing Default, as described in Section 6.03 4.06(d), together with any Additional Interest payable that may accrue in the event the Company elects pursuant to Section 4.06(d) and Section 4.06(e6.03 to pay Additional Interest as the sole remedy relating to the failure to comply with the Company’s obligations under ‎Section 4.06(c)) , accrue at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to ‎Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(c) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section ‎Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(c) in accordance with this Section 6.03 ‎Section 6.03, or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section ‎Section 6.02. For the avoidance of doubt, the provisions of this ‎Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraph‎Section 4.06(c), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02.

Appears in 3 contracts

Sources: Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.), Indenture (Norwegian Cruise Line Holdings Ltd.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to Section 4.06(f) and Section 6.03(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) above shall be in addition toto any Registration Default Additional Interest that may accrue pursuant to Section 4.06(d). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 above, together with any Registration Default Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 3 contracts

Sources: Indenture (Uniti Group Inc.), Indenture (I3 Verticals, Inc.), Indenture (Uniti Group Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the business day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 2 contracts

Sources: Indenture (Zendesk, Inc.), Indenture (Okta, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, as provided below in this Section 6.03, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) (a “Reporting Event of Default”) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Reporting Event of Default first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default first occurs (if the Reporting Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than a Reporting Event of Default. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 2 contracts

Sources: Indenture (CorMedix Inc.), Indenture (CorMedix Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which, with respect to an Event of Default described in Section 6.01(f), shall be the 60th day after written notice is provided to the Company in accordance with Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking including any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), the Notes will shall be subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (JOYY Inc.), Indenture (JOYY Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180Event of Default first occurs (which, for the avoidance of doubt, shall not commence until the notice described in Section 6.01(f) has been given, and the related 60-day periodperiod described in Section 6.01(f) has passed). Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (MACOM Technology Solutions Holdings, Inc.), Indenture (TechTarget Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 271st day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 271st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 271st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (Qudian Inc.), Indenture (BEST Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to if so elected by the extent the Company electsCompany, the sole remedy for any Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall ), will for the first 360 calendar days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a an annual rate equal to: to (ai) 0.25% per annum of the principal amount of the Outstanding Notes outstanding for each day during the period beginning on, and including, first 180 calendar days after the date on which occurrence of such an Event of Default first occurs and ending on the earlier of (i) the date on during which such Event of Default is cured or validly waived continuing and (ii) 0.50% of the 90th principal amount of Outstanding Notes for each day immediately followingfrom the 181st day to, and including, the 360th calendar day after the occurrence of such an Event of Default during which such Event of Default is continuing. If the Company so elects, the Additional Interest payable under this Section 6.03 will be payable on all Outstanding Notes from and including the date on which such Event of Default first occurred; and (b) if occurs, to and including the 360th day thereafter, or such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the earlier date on which such Event of Default first occurred, 0.50% per annum of has been cured or waived. On the principal amount of the Notes outstanding for each 361st day during the period beginning on, and including, the 91st day immediately following, and including, the date on which after such an Event of Default first occurred and ending on (or earlier, if the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately followingprior to such 361st day), and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant will cease to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%accrue and, in to the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if extent the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to continuing after such 181st 361st day), the Notes will be immediately subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay the Additional Interest following payable pursuant to this Section 6.03 upon an Event of Default in accordance with this Section 6.03 paragraph, or the Company elected elects to make such payment pay Additional Interest but does not pay the such Additional Interest when due, the Notes shall will be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay the Additional Interest payable pursuant to this Section 6.03 as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the failure to comply with Section 4.06(b) in accordance with the immediately preceding provisions of this paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent of such election prior to the beginning of such 180360 day period (which period shall not commence until the expiration of the 90-day periodperiod set forth in Section 6.01(f) above). Upon the failure to timely give all Holders, the Trustee and the Paying Agent such notice, the Notes shall will be immediately subject to acceleration as provided in this Section 6.02. If the Company so elects, Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. Payment of the Redemption Price, Fundamental Change Purchase Price, principal and interest that are not made when due shall accrue interest at the then-applicable interest rate from the required payment date.

Appears in 2 contracts

Sources: Indenture (Envestnet, Inc.), Indenture (Envestnet, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (Cable One, Inc.), Indenture (Cinemark Holdings, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue as a result of a registration default pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) accrue on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Company may elect to pay Additional Interest with respect to multiple Events of Default in a single written notification.

Appears in 2 contracts

Sources: Indenture (CONMED Corp), Indenture (Conmed Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.252.00% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant occurs and (ii) if such Event of Default has not been cured or validly waived prior to this Section 6.03 shall be in addition tothe 181st day immediately following, not in lieu ofand including, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the Notes earlier of (x) the date on any which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) immediately following, and Section 4.06(e)) at an annual rate accruing in excess including, the date on which such Event of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationsfirst occurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Officer’s Certificate under this Section 6.03(b) shall state (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such Officer’s Certificate, the Trustee may assume without inquiry that no such Additional Interest is payable.

Appears in 2 contracts

Sources: Indenture (UpHealth, Inc.), Subscription Agreement (GigCapital2, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking including any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay the Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (Sea LTD), Indenture (Sea LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which, with respect to an Event of Default described in Section 6.01(f), shall be the 60th day after written notice is provided to the Company in accordance with Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 270th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 271st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 271st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180270-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (Trina Solar LTD), Indenture (Trina Solar LTD)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to Section 4.06(f) and Section 6.03(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; occurred and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) above shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any above, together with Additional Interest payable pursuant to this Section 6.03 together with any Sections 4.06(d) and 4.06(e)) at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. (c) If the Company so elects, the Additional Interest payable pursuant to Section 4.06(d6.03(a) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest above shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 181st day thereafter (or such earlier date on which such Event of Default is cured or validly waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived prior to such 181st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Company may elect to pay Additional Interest with respect to multiple Events of Default in a single written notification.

Appears in 2 contracts

Sources: Indenture (Open Text Corp), Indenture (Carbonite Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking including any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 2 contracts

Sources: Indenture (Baidu, Inc.), Indenture (iQIYI, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company Partnership elects, the sole remedy for an Event of Default relating to the CompanyPartnership’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to ‎Section 4.06(f) and ‎Section 6.03(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 ‎Section 6.03(a) above shall be in addition toto any Registration Default Additional Interest that may accrue pursuant to ‎Section 4.06(d). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d‎Section 6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any above, together with Registration Default Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section ‎Section 4.06(d) and Section 4.06(e)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electsPartnership elects to pay Additional Interest pursuant to ‎Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Partnership’s failure to comply with its obligations as set forth in ‎Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section ‎Section 6.02. In the event the Company Partnership does not elect to pay Additional Interest following an Event of Default relating to the Partnership’s failure to comply with its obligations as set forth in ‎Section 4.06(b) in accordance with this Section 6.03 ‎Section 6.03, or the Company Partnership has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section ‎Section 6.02. For the avoidance of doubt, the provisions of this ‎Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Partnership’s failure to comply with its obligations as set forth in the immediately preceding paragraph‎Section 4.06(b), the Company Partnership must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Partnership’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02.

Appears in 2 contracts

Sources: Indenture (Galaxy Digital Inc.), Indenture (Galaxy Digital Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st calendar day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (x) the date of which such Event of Default is cured or validly waived in accordance with Indenture and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs (in addition to, not in lieu of, to any Additional Interest payable pursuant to Section that may accrue as a result of a Default as described ‎in ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(esecond succeeding paragraph)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 181st date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) first occurs to, and including, the 360th day after thereafter (or such earlier date on which such Event of Default (if is cured or validly waived in accordance with this Indenture). On the 361st day after such an Event of Default with respect to the Company’s obligations under Section 4.06(b) first occurs (if such Event of Default is not cured or validly waived in accordance with this Indenture prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will shall be subject to acceleration as provided in Section ‎Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎‎‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 6.024.06(b) together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), in accordance with ‎Section 4.06(d) accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 2 contracts

Sources: Indenture (Plug Power Inc), Indenture (Plug Power Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 365th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 365th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 366th day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K, pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 2 contracts

Sources: Indenture (Alnylam Pharmaceuticals, Inc.), Indenture (Alnylam Pharmaceuticals, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.06(a) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e4.06(c). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b4.06(a) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(a). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(f)) of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(a), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(c), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 1 contract

Sources: Indenture (Microchip Technology Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such event of default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Parsons Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) and if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, (b) 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on will the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with combined rate of any Additional Interest payable pursuant to Section 4.06(d) and any Additional Interest that may accrue pursuant to this Section 4.06(e)) at an annual rate accruing in excess of 6.03 exceed 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations% per annum. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 366th day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due6.03, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee Trustee, the Securities Administrator and the Paying Agent (if other than the Securities Administrator and the Trustee) in writing of such election prior to the beginning of such 180365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (BlackRock Kelso Capital CORP)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company Issuer elects, the sole remedy for an Event of Default relating to the CompanyIssuer’s failure to comply with its obligations as set forth in Section 4.06(b4.22(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to Section 4.22(f) and Section 6.17(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 6.17(a) above shall be in addition toto any Registration Default Additional Interest that may accrue pursuant to Section 4.22(d). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.17(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 above, together with any Registration Default Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e4.22(d)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligationspay such Additional Interest. If the Company so electsIssuer elects to pay Additional Interest pursuant to Section 6.17(a), then references in this Indenture to “interest” shall be deemed to include Additional Interest, whether or not specific reference to Additional Interest is made. (c) If the Issuer elects to pay Additional Interest pursuant to Section 6.17(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Issuer’s failure to comply with its obligations as set forth in Section 4.22(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company Issuer does not elect to pay Additional Interest following an Event of Default relating to the Issuer’s failure to comply with its obligations as set forth in Section 4.22(b) in accordance with this Section 6.03 6.17, or the Company Issuer has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.17 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the above election accrue at a rate per year in excess of the applicable rate specified in Section 6.17(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.17(c). (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Issuer’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.22(b), the Company Issuer must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning Close of Business on the date on which such 180-day periodEvent of Default first occurs. Upon the Issuer’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section 6.02. (e) If at any time Additional Interest becomes payable by the Issuer, the Issuer shall promptly deliver to the Trustee an Officer’s Certificate to that effect, stating (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a responsible officer of the Trustee receives such an Officer’s Certificate, the Trustee may assume without inquiry that no Additional Interest is payable. If the Issuer has paid Additional Interest directly to the persons entitled to such Additional Interest, the Issuer shall deliver to the Trustee an Officer’s Certificate setting forth the particulars of such payment. If any portion of the amount payable on the Notes upon acceleration is considered by a court to be unearned interest (through the allocation of the value of the instrument to the embedded warrant or otherwise), the court could disallow recovery of any such portion.

Appears in 1 contract

Sources: Indenture (Finance of America Companies Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Hubspot Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st calendar day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (x) the date of which such Event of Default is cured or validly waived in accordance with Indenture and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs (in addition to, not in lieu of, to any Additional Interest payable pursuant to Section that may accrue as a result of a Default as described ‎in ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(esecond succeeding paragraph)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 181st date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) first occurs to, and including, the 360th day after thereafter (or such earlier date on which such Event of Default (if is cured or validly waived in accordance with this Indenture). On the 361st day after such an Event of Default with respect to the Company’s obligations under Section 4.06(b) first occurs (if such Event of Default is not cured or validly waived in accordance with this Indenture prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will shall be subject to acceleration as provided in Section ‎Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎‎‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 6.024.06(b), (excluding any interest that accrues on any Deferred Additional Interest pursuant to Section 4.06(g)), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), in accordance with ‎Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Esperion Therapeutics, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 90 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (EQT Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall for the 360 days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and , and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the aggregate principal amount of the Notes then outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 361st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected will cease to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee accrue and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.027.

Appears in 1 contract

Sources: Indenture (Euronet Worldwide Inc)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to (i) the failure by the Company to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that the Company is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act or (ii) the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.05(a) (the obligations described in clauses (i) and (ii), the “Reporting Obligations”) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding Outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (iA) the date on which such Event of Default is cured or validly waived in accordance herewith and (iiB) the 90th 135th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (by) if such Event of Default has not been cured or validly waived prior to the 91st 136th day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding Outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 136th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (A) the date on which such Event of Default is cured or validly waived in addition toaccordance herewith and (B) the 270th day immediately following, not in lieu ofand including, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e)the date on which such Event of Default first occurs. In no event shall the Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to described in this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) 6.04 accrue at an annual a rate accruing in excess of 0.25% per annum during the initial 135-day period or 0.50%% per annum during the subsequent 135-day period, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligationspay such Additional Interest. If the Company so electselects to pay Additional Interest, any such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all outstanding Notes from, and including, the date on which such Event of Default first occurs to, and including, the 270th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with herewith). On the 181st 271st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived in accordance herewith prior to such 181st 271st day), such Additional Interest will cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.026.03. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section 6.03 6.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 270 days after the occurrence of any Event of Default described relating to the failure by the Company to comply with the Reporting Obligations, in the immediately preceding paragraphaccordance with this Section 6.04, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 180270-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest.

Appears in 1 contract

Sources: First Supplemental Indenture (Guidewire Software, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent if the Company so elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations reporting obligations, as set forth in Section 4.06(b), shall, (i) shall for the first 90 days after the occurrence of such an Event of Default (beginning on, and including, the date on which such an Event of Default first occurs, which shall be the 60th day after written notice thereof is given in accordance with this Indenture), consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) to 0.25% per annum of the principal amount of the such Notes outstanding for each day during the such 90-day period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived occurring and (ii) for the 90th day immediately followingperiod from, and including, the date on which 91st day after the occurrence of such an Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately followingto, and including, the date on which 180th day after the occurrence of such an Event of Default first occurredDefault, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to 0.50% per annum of the principal amount of the Notes outstanding for each day during the such additional 90-day period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured continuing (or, in each of (i) or validly waived and (ii) the 180th day immediately following), and includingif applicable, the earlier date on which such the Event of Default first occurredrelating to the reporting obligations is cured or waived). Interest payable pursuant to this Section 6.03 In no event shall be in addition to, not in lieu of, any Additional Interest payable pursuant to in accordance with Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 , together with any Additional Interest that may be payable as a result of the Company’s election pursuant to this Section 4.06(d) and Section 4.06(e)) 6.03, accrue at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligationspay such Additional Interest. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On If such Event of Default is continuing on the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when dueDefault, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, Notes and the Trustee and the Paying Agent of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default would otherwise occur. Upon the failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this Section 6.03 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Events of Default.

Appears in 1 contract

Sources: Indenture (Clean Energy Fuels Corp.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default under this Indenture relating to the Company’s failure by the Company to comply with its reporting obligations as set forth under ‎Section 4.06(b) (such default, a “Reporting Event of Default” and the obligations described in the first sentence of Section 4.06(b), the “Reporting Obligations”) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided under ‎Section 6.02. The provisions of this ‎Section 6.03 shall not affect the rights of Holders of Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration under ‎Section 6.02 as provided in a result of the Event of Default pursuant to Section 6.026.01(f) is then continuing.

Appears in 1 contract

Sources: Indenture (WhiteFiber, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, for the first 360 calendar days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period first 180 calendar days after the occurrence of such an Event of Default during which such Event of Default is continuing (or, if earlier, the date on which such Event of Default is cured or waived as provided for in this Indenture) beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning onfrom, and including, the 91st 181st calendar day immediately followingto, and including, the date on which 361st calendar day after the occurrence of such an Event of Default first occurred and ending on the earlier during which such Event of Default is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurredas provided for in this Indenture). Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 calendar days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest with respect to the Notes accrue under the terms of this Indenture (aggregating any Additional Interest payable pursuant to this Section 6.03 with any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e)) at a rate per year in excess of 0.50%, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Palo Alto Networks Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ia) the date on which such Event of Default is cured or validly waived and (iib) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ia) the date on which such Event of Default is cured or validly waived and or (iib) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to no later than five Business Days after the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (UTi WORLDWIDE INC)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event Events of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b) shall shall, for the first 180 days after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(g)), consist exclusively of the right to receive Additional Interest on the Notes at a an annual rate equal to: to (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall will be payable on all outstanding Notes from, and including, the date on which such Event of Default first occurs (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(g)) to, but excluding, the same manner and 181st day thereafter (or such earlier date on which the same dates as regular interest on the NotesEvent of Default relating to a failure to comply with such requirements has been cured or waived or ceases to exist). On the 181st day after following the Event of Default relating to the reporting obligations under this Indenture, if such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is has not been cured or waived prior to such 181st day), the Notes will shall be subject to acceleration as provided in Section 6.02. In This Section 6.03 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default, and are separate and distinct from, and in addition to, the obligation to pay Additional Interest in the circumstances described in Section 4.06(e) or Section 4.06(f). To the extent the Company elects to pay Additional Interest, it will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. If the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due6.03, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest on the Notes as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the failure to comply with the reporting obligations in this Indenture in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, Notes and the Trustee and the Paying Agent of such election prior on or before the close of business on the date on which such Event of Default first occurs (which will be the 60th day after written notice is provided to the beginning Company in accordance with an Event of such 180-day periodDefault pursuant to Section 6.01(g)). Upon If the failure Company fails to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event will the rate of any Additional Interest payable under the immediately preceding paragraph, when taken together with that of Additional Interest payable as described under Section 4.06 exceed a total rate of 0.50% per annum.

Appears in 1 contract

Sources: Indenture (TAL Education Group)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.252.00% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 2.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. . (b) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Officer’s Certificate under this Section 6.03(b) shall state (i) the amount of such Additional Interest that is payable and (ii) the date on which such Additional Interest is payable. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such Officer’s Certificate, the Trustee may assume without inquiry that no such Additional Interest is payable.

Appears in 1 contract

Sources: Indenture (UpHealth, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.252.00% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant occurs and (ii) if such Event of Default has not been cured or validly waived prior to this Section 6.03 shall be in addition tothe 181st day immediately following, not in lieu ofand including, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the Notes earlier of (x) the date on any which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) immediately following, and Section 4.06(e)) at an annual rate accruing in excess including, the date on which such Event of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationsfirst occurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Kaleyra, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) (the “Reporting Obligations”) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding Outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (iA) the date on which such Event of Default is cured or validly waived in accordance herewith and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiB) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (y) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of the Notes Outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (A) the date on which such Event of Default is cured or validly waived in accordance herewith and (B) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationsthird immediately succeeding paragraph. If the Company so electselects to pay Additional Interest, any such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its Reporting Obligations first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with herewith). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with its Reporting Obligations is not cured or waived in accordance herewith prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this Section 6.03 will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its Reporting Obligations. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described relating to the failure by the Company to comply with the Reporting Obligations, in the immediately preceding paragraphaccordance with this Section 6.03, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest. In no event shall any Additional Interest payable at the Company’s election pursuant to this Section 6.03, together with any Additional Interest payable in accordance with Section 4.06(d) as a result of the Company’s failure to timely file any document or report as set forth therein, accrue at a rate in excess of 0.50% per annum on any Notes, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Tpi Composites, Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default (which, with respect to an Event of Default described in Section 6.01(f), shall be the 60th day after written notice is provided to the Company in accordance with Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (China Lodging Group, LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall shall, for the first 360 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date 180 calendar days on which such Event of Default is cured or validly waived and (ii) the 90th day immediately followingcontinuing beginning on, and including, the date on which such Event of Default first occurred; and (b) if occurs and ending on the 180th calendar day after the occurrence of such Event of Default has not been cured or validly waived prior to the 91st day immediately following(or, and includingif earlier, the date on which such Event of Default first occurred, is cured or waived as provided for in this Indenture) and (ii) 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning onfrom, and including, the 91st 181st calendar day immediately followingto, and including, the date on which 360th calendar day after the occurrence of such an Event of Default first occurred and ending on the earlier during which such Event of Default is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to as provided for in this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(eIndenture). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under Section as set forth in ‎Section 4.06(b) is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election in writing prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02.

Appears in 1 contract

Sources: Investment Agreement (Splunk Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall for the 180 days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the aggregate principal amount of the Notes outstanding for each day during the first 90-day period on which such Event of Default is continuing beginning on, and including, the date on which such an Event of Default first occurs and ending on until, but not including, the 91st day thereafter (or, if applicable, the earlier of (i) the date on which such Event of Default is cured or validly waived waived) and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurredthereafter, 0.50% per annum of the aggregate principal amount of the Notes outstanding for each day during the period which such Event of Default is continuing beginning on, and including, the such 91st day immediately followinguntil, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurred (or, if applicable, the earlier date on which such Event of Default is cured or waived). Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In ; provided that in no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with into account any Additional Interest payable pursuant to Section 4.06(d) and or Section 4.06(e)) together with any Additional Interest payable pursuant to this Section 6.03) at an annual rate accruing in excess of 0.50%, in the aggregate, % for any violation or Default default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On If an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) is occurring on the 181st day after such Event of Default first occurs (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the NotesNotes and, in writing, the Trustee and the Paying Agent Agent, of such election on or prior to the beginning close of business on the fifth Business Day prior to the date on which such 180-day periodEvent of Default pursuant to Section 6.01(f) would otherwise occur. Upon the failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (LGI Homes, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Ctrip Com International LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to:: ​ ​ ​ (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (NIO Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall for the first 180 days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, following and including, including the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be ; provided, however, that in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on under the Notes on any day under terms of this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and or Section 4.06(e)) at an annual rate accruing in excess of 0.50%, % in the aggregate, aggregate for any violation or Event of Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so electselects to pay Additional Interest pursuant to this Section 6.03, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due6.03, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (American Equity Investment Life Holding Co)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st calendar day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (x) the date of which such Event of Default is cured or validly waived in accordance with Indenture and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs (in addition to, not in lieu of, to any Additional Interest payable pursuant to Section that may accrue as a result of a Default as described ‎in ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(esecond succeeding paragraph)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 181st date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) first occurs to, and including, the 360th day after thereafter (or such earlier date on which such Event of Default (if is cured or validly waived in accordance with this Indenture). On the 361st day after such an Event of Default with respect to the Company’s obligations under Section 4.06(b) first occurs (if such Event of Default is not cured or validly waived in accordance with this Indenture prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will shall be subject to acceleration as provided in Section ‎Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎‎‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 6.024.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), in accordance with ‎Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Esperion Therapeutics, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred occurs and ending on the earlier of (ix) the date on which such the Event of Default is cured or validly waived in accordance with this Article 6 and (iiy) the 180th day immediately following, and including, the date on which such Event event of Default default first occurredoccurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (LendingTree, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to second immediately succeeding paragraph of this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations6.03. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Zscaler, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.06(a) shall shall, for the first 180 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (ai) 0.25% per annum of the principal amount Reduced Principal Amount of the Notes outstanding for each day during the 90-day period beginning on, and including, the date on which occurrence of such an Event of Default during which such Event of Default is continuing; and (ii) 0.50% per annum of the Reduced Principal Amount of the Notes outstanding for each day during the 90-day period beginning on, and including, the 91st day following, and including, the occurrence of such an Event of Default during which such Event of Default is continuing. (b) Notwithstanding anything in this Indenture to the contrary, in no event shall Additional Interest accrue on any day under the terms of this Indenture (taking into consideration any Additional Interest payable pursuant to Section 6.03(a)) at a rate in excess of 0.50% per annum, in the aggregate, for any violation or default caused by the Company’s failure to comply with its obligations as set forth in Section 4.06(a). (c) If the Company so elects, the Additional Interest payable pursuant to Section 6.03(a) above shall be payable as set forth in Section 4.06(d) and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) first occurs and ending on to, but not including, the 181st day thereafter (or such earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) by the 90th day immediately following, and including, the date on which such Event Holders of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount a majority in Reduced Principal Amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(ethen outstanding). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b4.06(a) is not cured or waived prior to such 181st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(a), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(a), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Whiting Petroleum Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Hubspot Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurred. occurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest payable that may accrue as a result of a registration default pursuant to Sections 4.06(d) and 4.06(e)). (b) Notwithstanding anything in this Section 6.03 Indenture to the contrary, in no event, however, shall be in addition to, not in lieu of, Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any above, together with Additional Interest payable pursuant to this Section 6.03 together with any Sections 4.06(d) and 4.06(e)) at a rate in excess of 0.50% per annum, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. (c) If the Company so elects, the Additional Interest payable pursuant to Section 4.06(d6.03(a) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest above shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(a), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Company may elect to pay Additional Interest with respect to multiple Events of Default in a single written notification.

Appears in 1 contract

Sources: Indenture (Unisys Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, for the first 360 calendar days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, first 180 calendar days (of the date on 360-day period) during which such an Event of Default first occurs has occurred and ending on the earlier of is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately followingas provided for in this Indenture), beginning on, and including, including the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately followingoccurs, and including, the date on which such Event of Default first occurred, (ii) 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning onfrom, and including, the 91st 181st calendar day immediately followingto, and including, the date on which 360th calendar day after the occurrence of such an Event of Default first occurred and ending on the earlier during which such Event of Default is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived and (ii) as provided for in this Indenture). Subject to the 180th day immediately followinglast paragraph of this Section 6.03, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), the Notes will shall be subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) as set forth in this Section 6.03, together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d) at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Rapid7, Inc.)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for (a) an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.05 or (b) shall after the occurrence of such an Event of Default relating to the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the TIA any documents or reports that we are required to file with the Commission pursuant to Section 13 or 15(s) of the Exchange Act (the obligations described in clauses (a) and (b), the “Reporting Obligations”) shall consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the aggregate principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and , and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the aggregate principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and or (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 180th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 180th day), the Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 6.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing notify all Holders of the Notes, the Trustee and the Paying Agent of such election on or prior to the beginning close of such 180business on the fifth Business Day prior to the end of the 60-day periodperiod specified in Section 6.02(f). Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03.

Appears in 1 contract

Sources: First Supplemental Indenture (Verint Systems Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to Section 4.06(f) and Section 6.03(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) above shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any above, together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 181st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (NICE Ltd.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to (i) file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act or (ii) comply with its obligations as set forth in Section 4.06(b) shall 4.06 shall, for the first 365 days after the occurrence of such an Event of Default (and, for the avoidance of doubt, giving effect to the 60-day period set forth in Section 6.01(f)), consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, first 180 calendar days after the date on which occurrence of such an Event of Default first occurs and ending on the earlier during which such Event of Default is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived as provided for in this Indenture) and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning onfrom, and including, the 91st 181st calendar day immediately followingto, and includingbut excluding, the date on which 365th calendar day after the occurrence of such an Event of Default first occurred and ending on the earlier during which such Event of Default is continuing (i) or, if earlier, the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to as provided for in this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(eIndenture). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 365th day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 365th day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (TTM Technologies Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes Securities to the contrary, to the extent the Company elects, the sole remedy for an Event of Default during the first 180 days after the occurrence of an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b5.02(a) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes Securities at a rate equal to: (a) 0.25to 0.50% per annum of the principal amount of the Notes Securities outstanding for each day during which such Event of Default is continuing during the 180-day period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any The Additional Interest that is payable pursuant to in accordance with Section 4.06(d5.02(d) or Section 4.06(e5.02(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 , when taken together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess as a result of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure election pursuant to be current this Section 7.04, shall not in respect of its Exchange Act reporting obligations. the aggregate exceed 0.50% per annum. (a) If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesSecurities. On the 181st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes Securities will be subject to acceleration as provided in Section 6.027.02. In This Section 7.04 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. If the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 7.04, or the Company elected if it so elects but fails to make such payment but does not pay the Additional Interest when due, the Notes Securities shall be immediately subject to acceleration as provided in Section 6.027.02. In order to To elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the failure to comply with the reporting obligations in the immediately preceding paragraphaccordance with subsection (a) of this Section 7.04 and this subsection (b), the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to no later than five Business Days after the beginning of such 180-day period. Upon the Company’s failure to timely give such noticenotice or if the Company gives such notice but does not pay the Additional Interest when due, the Notes Securities shall be immediately subject to acceleration as provided in Section 6.027.02.

Appears in 1 contract

Sources: Indenture (Ezcorp Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrarySection 6.02 hereof, to the extent the Company elects, the sole remedy for an Event of Default under Section 6.01(f) relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of 5.04 hereof (such an Event of Default Default, a “Reporting Event of Default”), will consist exclusively of the right to receive Additional Interest on the Notes at a rate per year equal to: (ai) one quarter of one percent (0.25% %) per annum of the principal amount of the Notes outstanding for each day during the period first ninety (90) days such Event of Default has occurred and is continuing, beginning on, on and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date day on which such Event of Default is cured or validly waived occurred and (ii) the 90th day immediately following, and including, the date on which such Event one half of Default first occurred; and one percent (b0.50%) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period next ninety (90) days such Event of Default has occurred and is continuing, beginning on, and including, the 91st ninety-first (91st) day immediately following, and including, after the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which day such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Such Additional Interest shall be payable in arrears at the same time and in the same manner and on the same dates as regular interest on the Notes. . (b) On the 181st one hundred and eighty-first (181st) day after such the date on which the Reporting Event of Default occurred (if the such Reporting Event of Default with respect to the Company’s obligations under Section 4.06(b) is has not been cured or waived prior to such 181st one hundred and eighty-first (181st) day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. 6.02(a) hereof. (c) In order to elect to pay the Additional Interest as the sole remedy during the first 180 one hundred and eighty (180) days after the occurrence of any a Reporting Event of Default described in the immediately preceding paragraphDefault, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.026.02 hereof. In the event the Company does not elect to pay Additional Interest following a Reporting Event of Default or the Company elected to pay Additional Interest but does not pay the Additional Interest when due, the Notes will be subject to acceleration as provided in Section 6.02 hereof. Except as provided in the Section 6.03(d) below, nothing in this Section 6.03 shall affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. (d) Such Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes and will be separate and distinct from, and in addition to, any Additional Interest that may accrue pursuant to Section 5.08. In the event that the Company is required to pay Additional Interest to holders of Notes pursuant to this Indenture, the Company will provide written notice (“Additional Interest Notice”) to the Trustee of its obligation to pay Additional Interest no later than fifteen days prior to the proposed payment date for the Additional Interest, and the Additional Interest Notice shall set forth the amount of Additional Interest to be paid by the Company on such payment date. The Trustee shall not at any time be under any duty or responsibility to any holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest. (e) No Additional Interest described in this Section 6.03 shall accrue on account of a Reporting Event of Default, and no right to declare the principal or other amounts due and payable in respect of the Notes shall exist on account of a Reporting Event of Default once such Reporting Event of Default has been cured.

Appears in 1 contract

Sources: Indenture (Herbalife Nutrition Ltd.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 180th day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 366th day after the occurrence of such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 366th day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days 365days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Baozun Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 365th day immediately following, and including, the date on which such Event of Default first occurs. Subject to the second immediately succeeding paragraph, Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 366th day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election for failure to comply with its obligations as set forth in Section 4.06(b) as set forth in this Section 6.03, together with any Additional Interest that may accrue as a result of the Company’s failure to file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 6-K), pursuant to Section 4.06(d), accrue at a rate in excess of 1.00% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Arrival)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure by the Company to comply with its reporting obligations as set forth in under Section 4.06(b) (the obligations described in clauses (i) and (ii), the “Reporting Obligations”) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided in under Section 6.02. The provisions of this Section 6.03 shall not affect the rights of Holders of Notes in the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration under Section 6.02 as provided in a result of the Event of Default pursuant to Section 6.026.01(f) is then continuing. In order to elect to pay the Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any an Event of Default described relating to the failure by the Company to comply with the Reporting Obligations in the immediately preceding paragraphaccordance with this Section 6.03, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to the beginning of such 180365-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration under Section 6.02. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest. In no event shall Additional Interest payable at the Company’s election for failure to comply with its Reporting Obligations pursuant to this Section 6.03, together with any Additional Interest that may accrue as provided a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than current reports on Form 8-K), as set forth in Section 6.024.06(d), accrue at a rate in excess of 1.00% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Bitdeer Technologies Group)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to (i) the Company’s failure by the Company to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the failure by the Company to comply with its reporting obligations as set forth under Section 4.05 (the obligations described in Section 4.06(bclauses (i) and (ii), the “Reporting Obligations”) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 5.02(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant If a failure to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant file giving rise to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure obligation to pay Additional Interest pursuant to the foregoing provisions initially occurs on or after the close of business on a Regular Record Date and prior to the open of business on the corresponding Interest Payment Date, the Additional Interest that accrues during such period will be current due on the Interest Payment Date next succeeding such corresponding Interest Payment Date, and no interest shall accrue in respect of its Exchange Act reporting obligationssuch delay. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided under Section 5.03. The provisions of this Section 5.04 shall not affect the rights of Holders of Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section 6.03 5.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration under Section 5.03 as provided in a result of the Event of Default pursuant to Section 6.025.02(f) is then continuing. In order to elect to pay the Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any an Event of Default described relating to the failure by the Company to comply with the Reporting Obligations in the immediately preceding paragraphaccordance with this Section 5.04, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent paying agent (if other than the Trustee) of such election prior to the beginning of such 180365-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided under Section 5.03. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in Section 6.02such calculation of the Additional Interest.

Appears in 1 contract

Sources: First Supplemental Indenture (Bit Digital, Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the business day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Okta, Inc.)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to (i) the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the Company’s failure to comply with its obligations as set forth in Section 4.06(b) 10.02 of the Base Indenture shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.02(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 366th day), the Notes will shall be immediately subject to acceleration as provided in Section 6.026.03. In the event the Company does not elect to pay the Additional Interest following an Event of Default in accordance with this Section 6.03 6.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03.

Appears in 1 contract

Sources: First Supplemental Indenture (Sea LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to on or before the beginning open of business on the business day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue, pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Twilio Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.06(a) shall shall, for the first 180 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the 90-day period beginning on, and including, the date on which occurrence of such an Event of Default first occurs and ending on the earlier of (i) the date on during which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurredcontinuing; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the 90-day period beginning on, and including, the 91st day immediately following, and including, the occurrence of such an Event of Default during which such Event of Default is continuing. (b) Notwithstanding anything in this Indenture to the contrary, in no event shall Additional Interest accrue on any day under the terms of this Indenture (taking into consideration any Additional Interest payable pursuant to Section 6.03(a) at a rate in excess of 0.50% per annum, in the aggregate, for any violation or default caused by the Company’s failure to comply with its obligations as set forth in Section 4.06(a). (c) If the Company so elects, the Additional Interest payable pursuant to Section 6.03(a) above shall be payable as set forth in Section 4.06(d) and will accrue on all Notes then outstanding from, and including, the date on which such an the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) first occurred and ending on occurs to, but not including, the 181st day thereafter (or such earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) by the 180th day immediately following, and including, the date on which such Event Holders of Default first occurred. Interest payable pursuant to this Section 6.03 shall be a majority in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on principal amount of the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(ethen outstanding)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b4.06(a) is not cured or waived prior to such 181st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(a), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(a), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Whiting Petroleum Corp)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 365th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue as a result of a registration default pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) accrue on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 366th day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 366th day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Company may elect to pay Additional Interest with respect to multiple Events of Default in a single written notification.

Appears in 1 contract

Sources: Indenture (Sphere Entertainment Co.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such event of default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in writing of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Parsons Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall for the first 180 days after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Trip.com Group LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (JD.com, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.252.00% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 2.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.on

Appears in 1 contract

Sources: First Supplemental Indenture and Amendment to Security and Pledge Agreement (UpHealth, Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company Partnership elects, the sole remedy for an Event of Default relating to the CompanyPartnership’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to Section 4.06(f) and Section 6.03(b)) at a rate equal to: (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. . (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) above shall be in addition toto any Registration Default Additional Interest that may accrue pursuant to Section 4.06(d). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue on any day (taking into consideration any Additional Interest payable pursuant to Section 4.06(d6.03(a) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 above, together with any Registration Default Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electsPartnership elects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Partnership’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company Partnership does not elect to pay Additional Interest following an Event of Default relating to the Partnership’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company Partnership has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Partnership’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company Partnership must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Partnership’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Galaxy Digital Inc.)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurredoccurred and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e)). For the avoidance of doubt, the first 180-day period described in this Section 6.03 shall not commence until expiration of the 60 day period referenced in Section 6.01(f). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. In no event shall Additional Interest payable pursuant to the foregoing election accrue at a rate per year in excess of the applicable rate specified in Section 6.03(b), regardless of the number of events or circumstances giving rise to requirements to pay such Additional Interest pursuant to this Section 6.03. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in an Officer’s Certificate of such election prior to on or before the beginning close of business on the date on which such 180Event of Default first occurs (which, for the avoidance of doubt, shall not commence until the notice described in Section 6.01(f) has been given, and the related 60-day periodperiod described in Section 6.01(f) has passed). Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Verint Systems Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy under this Indenture for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, (a) for the 90 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) to 0.25% per annum of the aggregate principal amount of the Notes outstanding for each day during the such 90-day period on which such Event of Default is continuing beginning on, and including, the date on which such an Event of Default first occurs and ending on (b) for the period from, and including, the 91st day after the occurrence of such an Event of Default to, but not including, the 181st day after the occurrence of such an Event of Default (or, if applicable, the earlier of (i) the date on which such Event of Default relating to the Company’s obligations as set forth in Section 4.06(b) is cured or validly waived and (ii) waived), consist exclusively of the 90th day immediately following, and including, right to receive Additional Interest on the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior Notes at a rate equal to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the aggregate principal amount of the Notes outstanding for each day during the such additional 90-day period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) continuing. Subject to the 180th day immediately followingsucceeding sentence, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under the terms of this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and or Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, % per annum for any violation or Default default caused by or the Company’s failure to be current in respect of its the Company’s Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On If the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) is continuing on the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day)first occurred, the Notes will shall be immediately subject to acceleration as provided in Section 6.026.02 and shall cease to accrue Additional Interest pursuant to this Section 6.03. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default would otherwise occur. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Heritage Insurance Holdings, Inc.)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to (i) the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that the company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the Company’s failure to comply with its obligations as set forth in Section 4.06(b) 10.02 of the Base Indenture shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company pursuant to ‎Section 6.02(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.02‎Section 6.03. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 ‎Section 6.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02‎Section 6.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02‎Section 6.03.

Appears in 1 contract

Sources: First Supplemental Indenture (iQIYI, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default under this Indenture relating to the Company’s failure by the Company to comply with its reporting obligations as set forth under ‎Section 4.06(b) (such default, a “Reporting Event of Default” and the obligations described in Section 4.06(b), the “Reporting Obligations”) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided under ‎Section 6.02. The provisions of this ‎Section 6.03 shall not affect the rights of Holders of Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration under ‎Section 6.02 as provided in a result of the Event of Default pursuant to Section 6.026.01(f) is then continuing. In order to elect to pay the Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any an Event of Default described relating to the failure by the Company to comply with the Reporting Obligations in the immediately preceding paragraphaccordance with this ‎Section 6.03, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to the beginning of such 180365-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration under ‎Section 6.02. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to determine the Additional Interest, or with respect to the nature, extent, or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of the Additional Interest. In no event shall Additional Interest payable at the Company’s election for failure to comply with its Reporting Obligations pursuant to this Section 6.03, together with any Additional Interest that may accrue as provided a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than current reports on Form 8-K), as set forth in Section 6.024.06(d), accrue at a rate in excess of 1.00% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Bitdeer Technologies Group)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st calendar day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (x) the date of which such Event of Default is cured or validly waived in accordance with Indenture and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs (in addition to, not in lieu of, to any Additional Interest payable pursuant to Section 4.06(d) or that may accrue as a result of a Default as described in Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 181st date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day after thereafter (or such earlier date on which such Event of Default (if is cured or validly waived in accordance with this Indenture). On the 361st day after such an Event of Default with respect to the Company’s obligations under Section 4.06(b) first occurs (if such Event of Default is not cured or validly waived in accordance with this Indenture prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will shall be subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.026.03. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (LivaNova PLC)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.06(b)(i) (a “Reporting Event of Default”) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Reporting Event of Default first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default first occurs (if the Reporting Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than a Reporting Event of Default. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(h)) of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b)(i), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 1 contract

Sources: Indenture (3d Systems Corp)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and and (bii) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th 181st day immediately following, and including, the date on which such Event of Default first occurred. occurred and ending on the 365th day immediately following, and including, the date on which such Event of Default first occurred (in addition to any Additional Interest that may accrue as a result of a default pursuant to Sections 4.06(d) and 4.06(e)). (b) Any Additional Interest payable pursuant to this Section 6.03 6.03(a) shall be in addition toto any Additional Interest that may accrue pursuant to Sections 4.06(d) and 4.06(e). Notwithstanding anything in this Indenture to the contrary, not in lieu ofno event, however, shall Additional Interest accrue (taking into consideration any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e6.03(a). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any , together with Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section Sections 4.06(d) and Section 4.06(e)) on any day at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 366th day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 366th day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 366th day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 6.03, or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section 6.02. For the avoidance of doubt, the provisions of this Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify notify, in writing writing, all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (United States Steel Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this ‎Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (b) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this ‎Article 6 and (y) the 360th day immediately following, and including, the date on which such event of default first occurs. Additional Interest payable pursuant to this Section ‎Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in aggregate principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 361st day), the Notes will shall be immediately subject to acceleration as provided in Section ‎Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎ ‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in ‎Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 6.0213 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to ‎Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine Additional Interest, or with respect to the nature, extent or calculation of the amount of Additional Interest owed, or with respect to the method employed in such calculation of Additional Interest.

Appears in 1 contract

Sources: Indenture (Kosmos Energy Ltd.)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent elected by the Company electsCompany, the sole remedy for an Event of Default relating to (i) the Company’s failure by the Company to file with the Trustee pursuant to Section 314(a)(1) of the TIA any documents or reports that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act or (ii) the failure by the Company to comply with its reporting obligations as set forth in under Section 4.06(b) 4.07, shall for the first 180 calendar days after the occurrence of such an Event of Default consist exclusively of the right to receive additional interest (“Additional Interest Interest”) on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, including the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so electselects to pay Additional Interest, any such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st calendar day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with the relevant reporting obligations under Section 4.06(b) is not cured or waived prior to such 181st calendar day), the Notes will shall be subject to acceleration as provided under Section 5.03. The provisions of this Section 5.04 shall not affect the rights of Holders of the Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default in accordance with this Section 6.03 5.04 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in under Section 6.025.03. In order to elect to pay the Additional Interest as the sole remedy during the first 180 days after the occurrence of any an Event of Default described relating to the failure to comply with its reporting obligations under Section 314(a)(1) of the TIA or under Section 4.07, in the immediately preceding paragraphaccordance with this Section 5.04, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to within five Business Days after the beginning of such 180-day period. Upon the Company’s failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in under Section 6.025.03. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office of the Trustee such a notice, the Trustee may assume without inquiry that no Additional Interest is payable.

Appears in 1 contract

Sources: First Supplemental Indenture (XPO Logistics, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this ‎Article 6 and (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred occurs and ending on the earlier of (ix) the date on which such the Event of Default is cured or validly waived in accordance with this ‎Article 6 and (iiy) the 180th day immediately following, and including, the date on which such Event event of Default default first occurredoccurs. Additional Interest payable pursuant to this Section ‎Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.the

Appears in 1 contract

Sources: Indenture (LendingTree, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall for the first 180 days after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Qfin Holdings, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to if so elected by the extent the Company electsCompany, the sole remedy for any Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall ), will for the first 360 calendar days after the occurrence of such an Event of Default consist exclusively of the right of Holders to receive Additional Interest on the Notes at a an annual rate equal to: to (ai) 0.25% per annum of the principal amount of the Outstanding Notes outstanding for each day during the period beginning on, and including, first 180 calendar days after the date on which occurrence of such an Event of Default first occurs and ending on the earlier of (i) the date on during which such Event of Default is cured or validly waived continuing and (ii) 0.50% of the 90th principal amount of Outstanding Notes for each day immediately followingfrom the 181st day to, and including, the 360th calendar day after the occurrence of such an Event of Default during which such Event of Default is continuing. If the Company so elects, the Additional Interest payable under this Section 6.03 will be payable on all Outstanding Notes from and including the date on which such Event of Default first occurred; and (b) if occurs, to and including the 360th day thereafter, or such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the earlier date on which such Event of Default first occurred, 0.50% per annum of has been cured or waived. On the principal amount of the Notes outstanding for each 361st day during the period beginning on, and including, the 91st day immediately following, and including, the date on which after such an Event of Default first occurred and ending on (or earlier, if the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately followingprior to such 361st day), and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant will cease to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%accrue and, in to the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if extent the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to continuing after such 181st 361st day), the Notes will be immediately subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay the Additional Interest following payable pursuant to this Section 6.03 upon an Event of Default in accordance with this Section 6.03 paragraph, or the Company elected elects to make such payment pay Additional Interest but does not pay the such Additional Interest when due, the Notes shall will be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay the Additional Interest payable pursuant to this Section 6.03 as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the failure to comply with Section 4.06(b) in accordance with the immediately preceding provisions of this paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent of such election prior to the beginning of such 180360 day period (which period shall not commence until the expiration of the 90-day periodperiod set forth in Section 6.01(f) above). Upon the failure to timely give all Holders, the Trustee and the Paying Agent such notice, the Notes shall will be immediately subject to acceleration as provided in this Section 6.02. If the Company so elects, Additional Interest will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes. Payment of the Redemption Price, Fundamental Change Purchase Price, principal and interest that are not made when due shall accrue interest at the then-applicable interest rate from the required payment date.

Appears in 1 contract

Sources: Indenture (Envestnet, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for Event of Default relating to the Company’s failure to comply with its obligations (or, in addition rather than in lieu of, at and after the effective time of the Tornier Merger Transaction, Tornier’s failure to comply with its obligations) as set forth in Section 4.06(b) shall (i) for the first 90 days after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending occurs), consist exclusively of the right to receive Additional Interest on the earlier notes equal to 0.25% per annum of (i) the date principal amount of such Notes outstanding for each day during such 90-day period on which such Event of Default is cured or validly waived occurring and (ii) for the 90th day immediately followingperiod from, and including, the date on which 91st day after the occurrence of such an Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately followingto, and including, the date on which 180th day after the occurrence of such an Event of Default first occurredDefault, consist exclusively of the right to receive Additional Interest on the notes equal to 0.50% per annum of the principal amount of the Notes outstanding for each day during the such additional 90-day period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurredcontinuing. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations failure to file under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Wright Medical Group Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) and/or Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(a) and/or Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(a) and/or Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(a) and/or Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(g)) of such election prior to the beginning of such 180360-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(a) and/or Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 6-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 1 contract

Sources: Indenture (Cazoo Group LTD)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall after the occurrence of such an Event of Default (which, with respect to an Event of Default described in ‎Section 6.01(f), shall be the 60th day after written notice is provided to the Company in accordance with ‎‎Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section ‎Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section ‎Section 6.03 together with any Additional Interest payable pursuant to Section ‎Section 4.06(d) and Section ‎Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section ‎Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02.

Appears in 1 contract

Sources: Indenture (YY Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy under this Indenture for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall shall, (a) for the 90 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) to 0.25% per annum of the principal amount of the Notes outstanding for each day during the such 90- day period on which such Event of Default is continuing beginning on, and including, the date on which such an Event of Default first occurs and ending on (b) for the period from, and including, the 91st day after the occurrence of such an Event of Default to, but not including, the 181st day after the occurrence of such an Event of Default (or, if applicable, the earlier of (i) the date on which such Event of Default relating to the Company’s obligations as set forth in Section 4.06(b) is cured or validly waived and (ii) waived), consist exclusively of the 90th day immediately following, and including, right to receive Additional Interest on the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior Notes at a rate equal to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the such additional 90-day period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) continuing. Subject to the 180th day immediately followingsucceeding sentence, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under the terms of this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, % per annum for any violation or Default default caused by or the Company’s failure to be current in respect of its the Company’s Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and in accordance with the provisions of Section 4.06(h). On If the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) is continuing on the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day)first occurred, the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default would otherwise occur. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (Novavax Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on ) subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(i)) of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its reporting obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods provided by Rule 12b-25 or any successor rule under the Exchange Act and other than reports on Form 8-K), pursuant to Section 4.06(d)accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Trustee shall have no duty to calculate or verify the calculation of Additional Interest.

Appears in 1 contract

Sources: Indenture (Microchip Technology Inc)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if If such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, following and including, the date on which such Event of Default first occurredoccurred (in addition to any Additional Interest payable pursuant to ‎Section 4.06(d) or ‎Section 4.06(e)). Additional Interest payable pursuant to this Section ‎Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section ‎Section 4.06(d) or Section ‎Section 4.06(e). In ; provided that in no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section ‎Section 6.03 together with any Additional Interest that may be payable pursuant to Section ‎Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess as a result of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be timely file any document or report it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than current reports on Form 8-K) accrue at a rate in respect excess of its Exchange Act reporting obligations0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. If the Company so elects, such Such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under Section as set forth in ‎Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section ‎Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in ‎‎Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section ‎Section 6.03 or the Company elected elects to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described relating to the Company’s failure to comply with its obligations as set forth in the immediately preceding paragraph‎Section 4.06(b) in accordance with this ‎Section 6.03, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180360-day period. Upon the failure of the Company to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section ‎Section 6.02.

Appears in 1 contract

Sources: Indenture (BLACKBERRY LTD)

Additional Interest. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for (1) the Company’s failure to file with the Trustee pursuant to Section 314(a)(1) of the Trust Indenture Act any documents or reports that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act or (2) an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall 5.01 shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) and if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, (b) 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking will any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 4.04 exceed 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations% per annum. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to file is not cured or waived prior to such 181st 366th day), the Notes will be subject to acceleration as provided in Section 6.024.03. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due4.04, the Notes shall be subject to acceleration as provided in Section 6.024.03. In order to elect to pay Additional Interest as the sole remedy during the first 180 365 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to the beginning of such 180365-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.024.03.

Appears in 1 contract

Sources: First Supplemental Indenture (BlackRock Capital Investment Corp)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default under this Indenture relating to the Company’s failure by the Company to comply with its reporting obligations as set forth under ‎ Section 4.06(b) (such default, a “Reporting Event of Default” and the obligations described in Section 4.06(b), the “Reporting Obligations”) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided under ‎Section 6.02. The provisions of this ‎Section 6.03 shall not affect the rights of Holders of Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration under ‎Section 6.02 as provided in a result of the Event of Default pursuant to Section 6.026.01(f) is then continuing.

Appears in 1 contract

Sources: Indenture (Bitdeer Technologies Group)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default under this Indenture relating to the Company’s failure by the Company to comply with its reporting obligations as set forth under ‎Section 4.06(b) (such default, a “Reporting Event of Default” and the obligations described in Section 4.06(bclauses (i) and ‎(ii), the “Reporting Obligations”) shall after the occurrence of such an Event of Default (which will be the 60th day after written notice is provided to the Company in accordance with an Event of Default pursuant to Section 6.01(f)) consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and occurred and (by) if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, including the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and or (ii) the 180th 365th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st 366th day), the Notes will shall be subject to acceleration as provided under ‎Section 6.02. The provisions of this ‎Section 6.03 shall not affect the rights of Holders of Notes in Section 6.02the event of the occurrence of any other Event of Default. In the event the Company does not elect to pay the Additional Interest following an Event of Default relating to the Reporting Obligations in accordance with this Section ‎Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration under ‎Section 6.02 as provided in a result of the Event of Default pursuant to Section 6.026.01(f) is then continuing.

Appears in 1 contract

Sources: Indenture (Bitdeer Technologies Group)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with the Indenture and (iiy) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and occurs and (bii) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th calendar day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be occurs and ending on the earlier of (x) the date of which such Event of Default is cured or validly waived in accordance with Indenture and (y) the 270th day immediately following, and including, the date on which such Event of Default first occurs (in addition to, not in lieu of, to any Additional Interest payable pursuant to that may accrue as a result of a Default as described in Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(esecond succeeding paragraph)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 181st date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 270th day after thereafter (or such earlier date on which such Event of Default (if is cured or validly waived in accordance with the Indenture). On the 271st day after such an Event of Default with respect to the Company’s obligations under Section 4.06(b) first occurs (if such Event of Default is not cured or validly waived in accordance with the Indenture prior to such 181st 271st day), such Additional Interest will cease to accrue and the Notes will shall be subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 270 days after the occurrence of any an Event of Default described relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with the immediately preceding paragraph, the Company must notify in writing all Holders of the NotesHolders, the Trustee and the Paying Agent in an Officer’s Certificate of such election prior to on or before the beginning open of business on the Business Day immediately succeeding the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable (after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), in accordance with Section 4.06(d) accrue at a rate in excess of 0.50% per annum pursuant to the Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest.

Appears in 1 contract

Sources: Indenture (Plug Power Inc)

Additional Interest. (a) Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the CompanyGuarantor’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall shall, after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes (subject to ‎Section 4.06(f) and Section 6.03(b)) at a rate equal to: (a) A. 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 90th 180th day immediately following, and including, the date on which such Event of Default first occurred; and (b) B. if such Event of Default has not been cured or validly waived prior to the 91st 181st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st 181st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived and (iiy) the 180th 360th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to For the avoidance of doubt, the first 180-day period set forth in this Section 6.03 shall be not commence until expiration of the 60-day period referenced in addition to, not in lieu of, any ‎Section 6.01(f) above. (b) Any Additional Interest payable pursuant to Section 6.03(a) shall be in addition to any Additional Interest that may accrue pursuant to Sections 4.06(d) or Section and 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under Notwithstanding anything in this Indenture (taking to the contrary, in no event, however, shall any Additional Interest payable pursuant to this that may accrue as a result of a Filing Default, as described in Section 6.03 4.06(d), together with any Additional Interest payable that may accrue in the event the Company elects pursuant to Section 4.06(d) and Section 4.06(e6.03 to pay Additional Interest as the sole remedy relating to the Guarantor’s failure to comply with its obligations under ‎Section 4.06(b)) , accrue at an annual a rate accruing in excess of 0.50%% per annum, in regardless of the aggregate, for any violation number of events or Default caused by circumstances giving rise to the Company’s failure requirement to be current in respect of its Exchange Act reporting obligations. pay such Additional Interest. (c) If the Company so electselects to pay Additional Interest pursuant to ‎Section 6.03(a), such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and will accrue on all Notes then outstanding from, and including, the date on which the Event of Default relating to the Guarantor’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, but not including, the 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the Holders of a majority in principal amount of the Notes then outstanding). On the 181st 361st day after such Event of Default (if the such Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st 361st day), such Additional Interest will cease to accrue and the Notes will be subject to acceleration as provided in Section ‎Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default relating to the Guarantor’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this Section 6.03 ‎Section 6.03, or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall immediately be subject to acceleration as provided in Section ‎Section 6.02. For the avoidance of doubt, the provisions of this ‎Section 6.03 shall not affect the rights of Holders in the event of the occurrence of any other Event of Default. (d) In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any an Event of Default described relating to the Guarantor’s failure to comply with its obligations as set forth in the immediately preceding paragraphSection 4.06(b), the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent (if other than the Trustee) in writing of such election prior to on or before the beginning close of business on the date on which such 180-day periodEvent of Default first occurs. Upon the Company’s failure to timely give such noticenotice or pay Additional Interest, the Notes shall be immediately subject to acceleration as provided in ‎Section 6.02. For the avoidance of doubt, if (x) the Company timely elects to pay Additional Interest pursuant to this Section 6.026.03 as the sole remedy during the first 360 days after the occurrence of an Event of Default relating to the Guarantor’s failure to comply with its obligations as set forth in Section 4.06(b) in accordance with this paragraph (d), (y) the Company pays such Additional Interest in accordance with this Section 6.03 and this Indenture and (z) the Guarantor files the delinquent reports that were required to be filed and gave rise to the relevant Event of Default (in each case in clause (z) pursuant to the provisions set forth in Section 4.06(b)) prior to the 361st day after the occurrence of such Event of Default (or prior to the delivery of any related notice of acceleration on or after such 361st day), such Event of Default shall be deemed cured and the Notes shall not be subject to acceleration as a result of the initial failure to comply with the Guarantor’s obligations as set forth in Section 4.06(b).

Appears in 1 contract

Sources: Indenture (Norwegian Cruise Line Holdings Ltd.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: (a) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (ii) the 180th day immediately following, and including, the date on which such Event of Default first occurred. Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e4.06(c)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular interest on the Notes. On the 181st day after such Event of Default (if the Event of Default with respect to the Company’s obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.

Appears in 1 contract

Sources: Indenture (51job, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section ‎Section 4.06(b) shall (such default, a “Reporting Event of Default”) shall, for the first 365 days after the occurrence of such an Event of Default Default, consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: to (ax) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (i) the date on which that such Event of Default is cured or validly waived and (ii) continuing during the 90th day immediately following, and including, first 180 days after the date on which occurrence of such Event of Default first occurred; and and (by) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each from the 181st day during the period beginning onto, and including, the 91st 365th day immediately following, and including, following the date on which occurrence of such an Event of Default first occurred and ending on the earlier of (i) the date on which Default, as long as such Event of Default is cured or validly waived and (ii) continuing. Subject to the 180th day immediately followinglast paragraph of this Section 6.03, and including, the date on which such Event of Default first occurred. Additional Interest payable pursuant to this Section ‎Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section ‎Section 4.06(d) or Section ‎Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligations. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which a Reporting Event of Default first occurs to, and including, the 365th day thereafter (or such earlier date on which such Reporting Event of Default is cured or validly waived in accordance with this Indenture). On the 181st 366th day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under Section as set forth in ‎‎Section 4.06(b) is not cured or waived prior to such 181st 366th day), the Notes will be subject to acceleration as provided in Section 6.02. In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company elected to make such payment but does not pay the Additional Interest when due, the Notes shall be subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent of such election prior to the beginning of such 180-day period. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02‎Section 6.

Appears in 1 contract

Sources: Indenture (Euronet Worldwide, Inc.)

Additional Interest. Notwithstanding anything in this Indenture or in the Notes to the contrary, to the extent the Company elects, the sole remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) shall after the occurrence of such an Event of Default consist exclusively of the right to receive Additional Interest on the Notes at a rate equal to: : (ai) 0.25% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the date on which such an Event of Default first occurs and ending on the earlier of (ix) the date on which such Event of Default is cured or validly waived in accordance with this Article 6 and (ii) the 90th day immediately following, and including, the date on which such Event of Default first occurred; and (b) if such Event of Default has not been cured or validly waived prior to the 91st day immediately following, and including, the date on which such Event of Default first occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the period beginning on, and including, the 91st day immediately following, and including, the date on which such an Event of Default first occurred and ending on the earlier of (i) the date on which such Event of Default is cured or validly waived and (iiy) the 180th day immediately following, and including, the date on which such Event of Default first occurredoccurs and (ii) if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and including, the date on which such Event of Default first occurs, 0.50% per annum of the principal amount of Notes outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such Event of Default first occurs and ending on the earlier of (x) the date on which the Event of Default is cured or validly waived in accordance with this Article 6 and (y) the 360th day immediately following, and including, the date on which such Event of Default first occurs. Additional Interest payable pursuant to this Section 6.03 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (taking any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d) and Section 4.06(e)) at an annual rate accruing in excess of 0.50%, in the aggregate, for any violation or Default caused by the Company’s failure to be current in respect of its Exchange Act reporting obligationssecond immediately succeeding paragraph. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as regular the stated interest payable on the NotesNotes and shall accrue on all outstanding Notes from, and including, the date on which the Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b) first occurs to, and including, the 360th day thereafter (or such earlier date on which such Event of Default is cured or validly waived in accordance with this Article 6). On the 181st 361st day after such Event of Default (if the Event of Default with respect relating to the Company’s failure to comply with its obligations under as set forth in Section 4.06(b) is not cured or validly waived in accordance with this Article 6 prior to such 181st 361st day), such Additional Interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.02. The provisions of this paragraph will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Company’s failure to comply with its obligations as set forth in Section 4.06(b). In the event the Company does not elect to pay Additional Interest following an Event of Default in accordance with this Section 6.03 or the Company has elected to make such payment but does not pay the Additional Interest when due, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In order to elect to pay Additional Interest as the sole remedy during the first 180 360 days after the occurrence of any Event of Default described in the immediately preceding paragraph, the Company must notify in writing all Holders of the Notes, the Trustee and the Paying Agent in an Officer’s Certificate (consistent with Section 4.06(f)) of such election prior to on or before the beginning open of business on the date on which such 180-day periodEvent of Default first occurs. Upon the failure to timely give such notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall Additional Interest payable at the Company’s election as the remedy for an Event of Default relating to the Company’s failure to comply with its obligations as set forth in Section 4.06(b), together with any Additional Interest that may accrue as a result of the Company’s failure to timely file any document or report that it is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, as applicable, after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K), pursuant to Section 4.06(d), accrue at a rate in excess of 0.50% per annum pursuant to this Indenture, regardless of the number of events or circumstances giving rise to the requirement to pay such Additional Interest. The Company shall send written notice to the Holder of each Note and the Trustee of the commencement and termination of any period on which Additional Interest accrues on such Note under any provision of this Indenture.

Appears in 1 contract

Sources: Indenture (Global Blood Therapeutics, Inc.)