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 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 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 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 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 (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 the stated interest payable on the Notes. On the 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 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. Notwithstanding anything in this the 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(b4.10(b) (the “Reporting Obligations”) shall for the first 180 days after the occurrence of such an Event of Default (which will be which, for the 60th avoidance of doubt, shall not commence until the notice described in Section 6.02(f) has been given, and the related 90-day after written notice is provided to the Company pursuant to period described in Section 6.01(f)6.02(f) has passed) 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 first 90-day period after the occurrence of such Event of Default and (y) 0.50% per annum of the principal amount of the Notes Outstanding for each day from the 91st day until the 180th day following the occurrence of such Event of Default, in each case, during 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 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; 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 occurred, 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 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 360th day immediately following, and including, the date on which such Event of Default first occurredoccurs. Additional Interest payable pursuant to this Section 6.03 6.04 shall be in addition to, not in lieu of, any Additional Interest payable pursuant to Section 4.06(d4.10(d) or Section 4.06(e4.10(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (including any Additional Interest payable pursuant to this Section 6.03 together with any Additional Interest payable pursuant to Section 4.06(d4.10(d), Section 4.10(e) and this Section 4.06(e)) at an annual rate accruing in excess of 0.50%6.04, in the aggregate, for any violation or Default caused by exceed 0.50% per annum of the Company’s failure to be current in respect principal amount of its Exchange Act reporting obligationsthe Notes Outstanding. If the Company Issuer so electselects to pay Additional Interest, any such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 361st 181st day after such Event of Default (if the Event of Default with respect relating to the CompanyIssuer’s obligations under Section 4.06(b) failure to comply with the Reporting Obligations is not cured or waived prior to such 181st day), the Notes will shall be immediately subject to acceleration as provided in Section 6.026.03. The provisions of this Section 6.04 will not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default other than the Issuer’s failure to comply with its Reporting Obligations. In the event the Company Issuer 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 Issuer 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 relating to the failure by the Issuer to comply with the Reporting Obligations, in the immediately preceding paragraphaccordance with this Section 6.04, the Company Issuer 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 periodperiod (which, for the avoidance of doubt, shall not commence until the notice described in Section 6.02(f) has been given, if applicable, and the 90-day time period described in Section 6.02(f) has passed). 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 4 contracts
Sources: First Supplemental Indenture (Intercept Pharmaceuticals, Inc.), Exchange Agreement (Intercept Pharmaceuticals, Inc.), Subscription Agreement (Intercept Pharmaceuticals, 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 written 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. Notwithstanding anything in this the Indenture or in the Notes to the contrary, to the extent if 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(b4.03 of the Base Indenture or Section 4.04(a) of this Second Supplemental 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 6.01(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 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 on, but excluding, the earlier of (iA) the date on which such Event of Default is cured or validly waived no longer continuing and (iiB) the 180th 91st day immediately following, and including, following the date on which such an Event of Default first occurred; and
(b) if such Event of Default has not been cured or validly waived prior to the 181st day immediately followingoccurs, and including, the date on which such Event of Default first occurred, (y) 0.50% per annum of the principal amount of the Notes outstanding for each day during the 90-day period on which such Event of Default is continuing beginning on, and including, the 181st 91st day immediately following, and including, following the date on which such an Event of Default first occurred occurs and ending on the earlier of (i) on, but excluding, the date on which such Event of Default is cured or validly waived and (ii) the 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 (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 obligationslonger continuing. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 361st 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 will shall be immediately subject to acceleration as provided in Section 6.025.03. 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 4.03 of the Base Indenture and Section 4.04(a) of this Second Supplemental Indenture. In the event the Company does not elect to pay 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 Section 6.025.03. 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 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 6.025.03.
Appears in 2 contracts
Sources: Second Supplemental Indenture (TimkenSteel Corp), Convertible Notes Exchange Agreement (TimkenSteel 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 (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:
: (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 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 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 181st 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 360th 365th day immediately following, and including, the date on which such Event of 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 (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 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 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 361st 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 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 Company’s failure to timely give such written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 180th 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 181st 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 181st 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 360th 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 (including 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 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 361st 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 written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 CompanyPartnership’s failure to timely give such written 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, 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 (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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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 will 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 pursuant to 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 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 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 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 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 (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 the stated interest payable on the Notes. On the 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 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 written 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. 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 an 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 (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 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 180th 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 181st day immediately following, and including, the earlier 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 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 has been cured or validly waived and (ii) the 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 (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 the stated interest payable on the Noteswaived. On the 361st day after such Event of Default (or earlier, 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 361st day), Additional Interest payable pursuant to this Section 6.03 will cease to accrue and, to the extent the Event of Default is continuing after such 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 Company’s failure to timely give all Holders, the Trustee and the Paying Agent such written 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. 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:
: (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 (iiy) the 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 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 181st 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 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 (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 obligationsoccurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as 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 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 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 Company’s failure to timely give such written 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 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 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 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 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 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 (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 the stated regular interest payable on the Notes. On the 361st 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 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 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 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 written 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. 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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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
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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 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 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 written 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 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 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 pursuant to 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 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 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 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 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 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 written 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
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 will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 181st calendar 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 of which such Event of Default is cured or validly waived in accordance with Indenture and (iiy) the 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 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 (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(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 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 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 Indenture). On the 361st day after such an 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 validly waived in accordance with this Indenture prior to such 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 Company’s failure to timely give such written 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 (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 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 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 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 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 (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 the stated regular interest payable on the Notes. On the 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 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
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 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 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 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 (Qudian Inc.), Indenture (BEST 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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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
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 6.01(fSection 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 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 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 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 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 (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 the stated interest payable on the Notes. On the 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 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
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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurred. 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)).
(b) Notwithstanding anything in this Indenture to the contrary, in no event shall the Additional Interest payable at the Company’s election for failure to comply with the 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 this Section 6.03 shall be 13 or 15(d) of the Exchange Act, as applicable (other than current reports on Form 8-K), as described in addition toSection 4.06(d), not accrue on any day at a rate in lieu ofexcess of 0.50% per annum, any 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) or Section 4.06(e). In no event shall Additional Interest accrue on the Notes on any day under this Indenture (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 above shall be payable in the same manner and on the same dates as the stated interest payable on the NotesNotes and shall 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 reporting obligations as set forth in Section 4.06(b) first occurs to, but excluding, 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 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 361st day), such Additional Interest shall cease to accrue and the Notes will shall 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 180 360 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 provide written notice to 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 written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.Section
Appears in 1 contract
Sources: Indenture (On Semiconductor 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 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 written 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 6.03 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
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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 180th 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 181st 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 181st 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 360th 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 to, and not in lieu of, any Additional Interest payable that may accrue pursuant to Section 4.06(d) or Section 4.06(e). In no event shall .
(c) If the Company elects to pay Additional Interest accrue on the Notes on any day under this Indenture (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(e6.03(a)) 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 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 at least 66⅔% in principal amount of the Notes then outstanding). On the 361st 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) 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 written 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 (Avaya Holdings 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(b4.06(a) 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 pursuant to Section 6.01(f)) 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 180th 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 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 90-day period beginning on, and including, the 181st 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 360th 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 (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(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 the stated interest payable on the Notes. On the 361st 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 written 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 (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:
: (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 (iiy) the 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 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 181st 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 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 (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 obligationsoccurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as 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 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 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 Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. The Officer’s Certificate under this Section 6.03 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
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 (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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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 will 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 pursuant to Section 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 Company’s failure to timely give such written 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 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 will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 181st calendar 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 of which such Event of Default is cured or validly waived in accordance with Indenture and (iiy) the 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 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 (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(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 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 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 Indenture). On the 361st day after such an 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 validly waived in accordance with this Indenture prior to such 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 Company’s failure to timely give such written 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
Additional Interest. Notwithstanding anything in this any provisions of the 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 any obligation to file reports with the Company’s failure to comply with its obligations Trustee as set forth in required by Section 4.06(b314(a)(1) shall of the Trust Indenture Act or by Section 2.07 hereof or Section 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 6.01(f)) Default, consist exclusively of the right to receive additional interest (“Additional Interest 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 60-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 180th day immediately following, and including, the date on which such Event of Default first occurredcontinuing; 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 occurred, 0.50% per annum of the principal amount of the Notes outstanding for each day during the 120-day period beginning on, and including, the 181st 61st day immediately following, and including, the date on which occurrence of such an Event of Default first occurred and ending on the earlier of (i) the date on during which such Event of Default is cured or validly waived and (ii) continuing; provided, however, that in no event shall such Additional Interest accrue at an annual rate in excess of 0.50% during the 360th day immediately followingsix-month period beginning on, and including, the date on which such Event is six months after the last date of Default first occurred. Interest payable pursuant original issuance of the Notes for any failure to this Section 6.03 shall be in addition to, not in lieu of, timely file any Additional Interest payable document or report that the Company is required to file with the SEC pursuant to Section 4.06(d13 or 15(d) or Section 4.06(e). In no event shall Additional Interest accrue on of the Notes on any day under this Indenture (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(after giving effect to all applicable grace periods thereunder and other than reports on Form 8-K). If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 361st 181st day after such Event of Default (if the Event of Default with respect relating to the Company’s reporting obligations under Section 4.06(b) is not cured or waived prior to such 181st day), the Notes will shall be subject to acceleration as provided in Section 6.027.02 of the Base Indenture. This Section 5.02 shall not affect the rights of Holders of Notes in the event of the occurrence of any Event of Default unrelated to this Section 5.02. In the event that 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 due5.02, the Notes shall be subject to acceleration as provided in Section 6.027.02 of the Base Indenture. 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 in relating to the immediately preceding paragraphCompany’s failure to comply with the reporting obligations, the Company must notify notify, in writing writing, all Holders of the Notes, Notes and 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 6.027.02 of the Base Indenture. Whenever in the Indenture there is mentioned, in any context, the payment of interest on, or in respect of, any Note, such mention shall be deemed to include mention of the payment of Additional Interest provided for in this Section 5.02 to the extent that, in such context, Additional Interest is, was or would be payable in respect thereof pursuant to the provisions of this Section 5.02, and express mention of the payment of Additional Interest (if applicable) in any provision shall not be construed as excluding Additional Interest in those provisions where such express mention is not made.
Appears in 1 contract
Sources: Second Supplemental Indenture (Wyndham Worldwide 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 (which occurrence 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 1 contract
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 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 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 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 360th 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 (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 the stated interest payable on the Notes. On the 361st 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 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 Company’s failure to timely give such written 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
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:
: (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 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 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 181st 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 360th 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 (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 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 the stated interest payable on the Notes. On the 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 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 Company’s failure to timely give such written 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 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 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 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 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 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 1 contract
Sources: 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 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:
: (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 (iiy) the 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 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 181st 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 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 (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 obligationsoccurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as 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 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 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 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 Company’s failure to timely give such written 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 Indenture 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. In no event shall 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), 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 (Lightning eMotors, 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 days after the occurrence of such an Event of Default (which will be which, for the 60th day after written avoidance of doubt, shall not commence until the notice is provided to the Company pursuant to described in Section 6.01(f) has been given, and the related 60-day period described in Section 6.01(f) above has passed)) , 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 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 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 181st 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 Indenture and (iiy) the 360th day immediately following, and including, the date on which such Event of 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 (including any Additional Interest payable pursuant to second 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 the stated interest payable on the Notes, 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 waived). On the 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 361st day), the Notes will shall cease to accrue Additional Interest pursuant to this Section 6.03 and 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 of such election prior to the beginning of such 180360-day periodperiod (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 period described in Section 6.01(f) above has passed). 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. In no event shall Additional Interest pursuant to this Section 6.03, together with any Additional Interest payable pursuant to Section 4.06(d), accrue 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.
Appears in 1 contract
Sources: Indenture (Medallia, 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 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 6.01(f5.02(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 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 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 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 360th 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 (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 the stated interest payable on the Notes. On the 361st 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 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 written 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 (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 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 (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:
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 180th 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 181st 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 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 360th 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 (including 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 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 361st 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 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 Company’s failure to timely give such written 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 the Company elects, the sole remedy for an Event of Default under this Supplement Indenture relating to (i) the 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 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(b4.06 (the obligations described in clauses (i) shall and (ii), the “Reporting Obligations”) shall, for the first 360 days 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)) 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 Supplemental Indenture and (iiy) the 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 181st day immediately following, and including, the date day on which such Event of Default first occurred, 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 an Event of Default first occurred 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 Supplemental Indenture and (iiy) the 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 (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 obligationsoccurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 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 the Reporting Obligations is not cured or waived prior to such 361st day), such Additional interest shall cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.026.03. The provisions of this Section 6.04 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. 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 180 360 days after the occurrence of any Event of Default described relating to the Company’s failure to comply with the Reporting Obligations, in the immediately preceding paragraphaccordance with this Section 4.06, the Company must notify in writing provide written notice to 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. 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
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 which, with respect to an Event of Default pursuant to Section 6.01(f), shall be the 60th day after written notice is provided to the Company pursuant to 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 1 contract
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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th 365th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (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 (including 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 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 361st 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 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 written 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 (AMC 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 for the 360 days 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:
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 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 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 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 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 (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 the stated interest payable on the Notes. On the 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 361st day), the Additional Interest will cease to accrue and the Notes will shall be immediately subject to acceleration as provided in Section 6.027.02. 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 7.03 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 6.027.02. Notwithstanding the foregoing, Additional Interest payable pursuant to this Section 7.03 shall be in addition to any Additional Interest payable pursuant to Section 4.06(d) or Section 4.06(e); provided that in no event will the rate of Additional Interest payable under this Section 7.03, when taken together with that of Additional Interest payable under Section 4.06(d) or Section 4.06(e), exceed a total of 0.50% per annum. 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 paragraphfirst paragraph of this Section 7.03, 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 Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.027.02.
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 (which will 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 pursuant to 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 4.06(b) shall for the 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 pursuant to 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 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) if such Event of Default has not been cured or validly waived prior to the 91st day thereafter, 0.50% per annum of the aggregate principal amount of the Notes outstanding for each day during which such Event of Default is continuing beginning on, and including, such 91st day until, and including, the 180th day immediately following, and including, the date on which such Event of Default first occurred; and
occurred (b) or, if such Event of Default has not been cured or validly waived prior to the 181st day immediately following, and includingapplicable, 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 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 360th day immediately following, and including, the date on which such Event of Default first occurredwaived). 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 (including any Additional Interest payable pursuant to this Section 6.03 together with taking 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 the stated regular interest payable on the Notes. On If an Event of Default relating to the 361st 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 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 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 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 (iiy) the 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 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 181st 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 360th 365th day immediately following, and including, the date on which such Event of Default first occurredoccurs. 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 (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 the stated interest payable on the Notes. On the 361st 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 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 Company’s failure to timely give such written 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 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 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 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 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 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 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 (including 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 the stated regular interest payable on the Notes. On the 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 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 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 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 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)) 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 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 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 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 360th 365th day immediately following, and including, the date on which such Event of Default first occurred. 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 (including 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 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 361st 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 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 written 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 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 1 contract
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 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 pursuant to 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 or (ii) the 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 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 181st 180th 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 1 contract
Sources: Indenture (GDS 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 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)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 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 occurred (in addition to, not in lieu of, to any Additional Interest payable that may accrue pursuant to Section 4.06(d) or Section 4.06(e), but subject to the provision described in the following paragraph). 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). In no event shall Additional Interest accrue on payable at the Notes on any day under this Indenture (including any Additional Interest payable pursuant Company’s election for failure to comply with its obligations set forth in Section 4.06(b) as set forth in this Section 6.03 6.03, together with any Additional Interest payable 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), pursuant to Section 4.06(d) and Section 4.06(e(excluding any interest that accrues on any Deferred Additional Interest)) , accrue at an annual a rate accruing in excess of 0.50%% per annum pursuant to this Indenture, 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 pursuant to this Section 6.03, such Additional Interest shall be payable in the same manner and on the same dates Interest Payment Dates 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 stated interest payable 361st day thereafter (or such earlier date on which such Event of Default is cured or waived by the NotesHolders of a majority in principal amount of the Notes then outstanding). On the 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 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 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 the case of the Trustee and Paying Agent, in an Officer’s Certificate (consistent with 4.06(h)) the 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 written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02.
Appears in 1 contract
Sources: Indenture (Riot Platforms, 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurred. 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 (including 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 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 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 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 written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. If Additional Interest is payable on the Notes, the Company shall provide an Officers’ Certificate to the Trustee on or before the record date for each Interest Payment Date such Additional Interest is payable setting forth the accrual period and the amount of such Additional Interest in reasonable detail. The Trustee may provide a copy of such Officers’ Certificate or other notice received from the Company relating to Additional Interest to any Holder upon request. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Additional Interest is payable, or with respect to the nature, extent, or calculation of the amount of any Additional Interest owed, or with respect to the method employed in such calculation of any Additional Interest. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment.
Appears in 1 contract
Sources: Indenture (On Semiconductor 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 180th 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 181st 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 181st 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 360th 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 (including 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 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 361st 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 written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 written 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
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:
: (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 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 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 181st 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 360th 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 (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 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 the stated interest payable on the Notes. On the 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 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 Company’s failure to timely give such written 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, for the first 360 calendar days 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:
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 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 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 onfrom, and including, the 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 360th 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 (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 the stated interest payable on the Notes. On the 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 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 Company’s failure to timely give such written 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 (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:
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 180th 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 181st 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 181st 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 360th 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 (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 the stated interest payable on the Notes. On the 361st 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 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 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 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 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 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 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 360th 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 (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 the stated interest payable on the Notes. On the 361st 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 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 written 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
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)) 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 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 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 181st calendar 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 of which such Event of Default is cured or validly waived in accordance with Indenture and (iiy) the 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 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 (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 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 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 Indenture). On the 361st day after such an 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 validly waived in accordance with this Indenture prior to such 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 Company’s failure to timely give such written 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 if so elected by the extent the Company electsCompany, the sole remedy for an 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 (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 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 180th 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 181st day immediately following, and including, the earlier 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 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 has been cured or validly waived and (ii) the 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 (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 the stated interest payable on the Noteswaived. On the 361st day after such Event of Default (or earlier, 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 361st day), Additional Interest payable pursuant to this Section 6.03 will cease to accrue and, to the extent the Event of Default is continuing after such 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 Company’s failure to timely give all Holders, the Trustee and the Paying Agent such written 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 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 (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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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. 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 (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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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(e4.06(c). In no event shall Additional Interest accrue on , subject to the Notes on any day under this Indenture (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 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 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 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 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 Company’s failure to timely give such written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 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 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 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 CompanyPartnership’s failure to timely give such written 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 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 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 written 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 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 (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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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 (Upwork, 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 360 days 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:
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 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 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 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 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 (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 the stated interest payable on the Notes. On the 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 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 Company’s failure to timely give such written 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 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 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 (including 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 the stated interest payable on the Notes. On the 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 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 Company’s failure of the Company to timely give such written 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 Company’s failure to timely give such written 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 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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 prior to such 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 Article 6 prior to make such payment but does not pay the 361st day), such Additional Interest when due, the Notes shall be subject cease 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 Company’s failure to timely give such written notice, the Notes 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
Appears in 1 contract
Sources: Indenture (Zendesk, 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 (a) the Company’s failure 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 (b) the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.04(a) of this First Supplemental 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 6.01(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 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 on, but excluding, the earlier of (iA) the date on which such Event of Default is cured or validly waived no longer continuing and (iiB) the 180th 91st day immediately following, and including, following the date on which such an Event of Default first occurred; and
(b) if such Event of Default has not been cured or validly waived prior to the 181st day immediately followingoccurs, and including, the date on which such Event of Default first occurred, (y) 0.50% per annum of the principal amount of the Notes outstanding for each day during the 90-day period on which such Event of Default is continuing beginning on, and including, the 181st 91st day immediately following, and including, following the date on which such an Event of Default first occurred occurs and ending on the earlier of (i) on, but excluding, the date on which such Event of Default is cured or validly waived and (ii) the 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 (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 obligationslonger continuing. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 361st 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 will shall be immediately subject to acceleration as provided in Section 6.025.03. The provisions of this paragraph will 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 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 Section 6.025.03. 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 shall 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 6.025.03. If Additional Interest is payable on the Notes, the Company shall provide an Officer’s Certificate to the Trustee on or before the Regular Record Date for each Interest Payment Date such Additional Interest is payable setting forth the accrual period and the amount of such Additional Interest in reasonable detail. The Trustee may provide a copy of such Officer’s Certificate or other notice received from the Company relating to Additional Interest to any Holder upon request. Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Additional Interest is payable, or with respect to the nature, extent or calculation of the amount of any Additional Interest owed, or with respect to the method employed in such calculation of any Additional Interest. If the Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officer’s Certificate setting forth the particulars of such payment.
Appears in 1 contract
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)) 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 180th 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 181st 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 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 360th 91st 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 (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(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 the stated interest payable on the Notes. On Notes and will accrue on all outstanding Notes from, and including, the 361st 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 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 Company’s failure to timely give such written 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. 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 days 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)) 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 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 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 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 the Event of Default is cured or validly waived in accordance with this Indenture and (iiy) the 360th day immediately following, and including, the date on which such Event of 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 the Notes on any day under this Indenture (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 the stated interest payable on the Notes. On the 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 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.Section
Appears in 1 contract
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 (i) for the first 60 days after the occurrence of such an Event of Default (beginning on, and including, the date on which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(fsuch an Event of Default first occurs)) , 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 60-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 continuing and (ii) for the 180th day immediately followingperiod from, and including, the date on which 61st 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 181st day immediately followingto, and including, the date on which 120th 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 60-day period beginning on, and including, the 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 360th day immediately followingcontinuing; provided that, 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 (excluding, for the Notes on any day under this Indenture (including avoidance of doubt, any Additional Interest payable that may accrue pursuant to Section 4.13 and any Contingent Interest that may accrue pursuant to Section 4.01) accrue at a rate per annum in excess of 0.25%, during the period described in clause (i) of this Section 6.03 together with 6.03, or 0.50%, during the period described in clause (ii) of this Section 6.03, as applicable, regardless of the number of events or circumstances giving rise to the requirements to pay such Additional Interest (in each case, excluding, for the avoidance of doubt, any Additional Interest payable that may accrue pursuant to Section 4.06(d) 4.13 and any Contingent Interest that may accrue pursuant to Section 4.06(e4.01)) 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 the stated regular interest payable on the Notes. On the 361st 121st 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 121st 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 180 120 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 180120-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. Additional Interest pursuant to this Section 6.03 will be payable in arrears on each Interest Payment Date following accrual in the same manner as regular interest on the Notes.
Appears in 1 contract
Sources: Indenture (Molina Healthcare 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 the Company’s failure to comply with its obligations as set forth in Section 4.06(b4.06 of this Sixth Supplemental Indenture or for any failure of the Company or any Subsidiary Guarantor to file with the Trustee any documentation or reports required to be filed under Section 314(a)(1) of the Trust Indenture Act, 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:
to (ax) 0.25% per annum of the 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 on, but excluding, the earlier of (iA) the date on which such Event of Default is cured or validly waived no longer continuing and (iiB) the 180th 91st day immediately following, and including, following the date on which such an Event of Default first occurred; and
(b) if such Event of Default has not been cured or validly waived prior to the 181st day immediately followingoccurs, and including, the date on which such Event of Default first occurred, (y) 0.50% per annum of the principal amount of the Notes outstanding for each day during the next 90-day period on which such Event of Default is continuing beginning on, and including, the 181st 91st day immediately following, and including, following the date on which such an Event of Default first occurred occurs and ending on the earlier of (i) on, but excluding, the date on which such Event of Default is cured or validly waived and (ii) the 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)no longer continuing. In no event shall will Additional Interest accrue on the Notes exceed an aggregate of 0.50% per annum on any day under this Indenture (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 obligationsNote. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes. On the 361st 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 6.026.03. 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 of this Sixth Supplemental Indenture. In the event the Company does not elect to pay Additional Interest following an Event of Default described 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 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 6.026.03.
Appears in 1 contract
Sources: Sixth Supplemental Indenture (Oasis Petroleum 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 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(f6.01(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 180th 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 181st 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 181st 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 360th 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 (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 will be payable in on all outstanding Notes from, and including, the same manner and date on the same dates as the stated interest payable on the Notes. On the 361st day after which such Event of Default first occurs (if 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 181st day thereafter (or such earlier date on which the Event of Default relating to a failure to comply with respect such requirements has been cured or waived or ceases to exist). On the 181st day following the Event of Default relating to the Company’s reporting obligations under Section 4.06(b) is this Indenture, if such Event of Default 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 Company’s failure Company fails to timely give such written 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 (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:
: (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 (iiy) the 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 181st day immediately following, and including, the date on which such Event of Default first occurredoccurs, 0.502.50% 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 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 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 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 written 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 (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 (which will be and, for the 60th day after written notice is provided avoidance of doubt, giving effect to the Company pursuant to 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 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 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 onfrom, and including, the 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 360th 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 (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 the stated regular interest payable on the Notes. On the 361st 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 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 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 1 contract
Sources: Indenture (TTM Technologies 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 will such an Event of Default first occurs, which shall be the 60th day after written notice thereof is provided to the Company pursuant to Section 6.01(fgiven 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 180th 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 181st 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 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 continuing (or, in each of (i) or validly waived and (ii) the 360th 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 (including 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 the stated interest payable on the Notes. On If such Event of Default is continuing on the 361st 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 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 Company’s failure to timely give such written 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. (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 (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 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 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 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 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 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 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 (including 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 the stated interest payable on the NotesSecurities. On the 361st 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 written 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 (which Default, a “Reporting Event of Default”), 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 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 180th 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 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 next ninety (90) days such Event of Default has occurred and is continuing, beginning on, and including, the 181st 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 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 (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 Such Additional Interest shall be payable in arrears at the same time and in the same manner and on the same dates as the stated regular interest payable on the Notes. .
(b) On the 361st 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 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 written 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 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 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 181st 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 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 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 1 contract
Sources: Indenture (Baozun 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 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 6.01(f5.02(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 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 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 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 360th 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 (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 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 the stated interest payable on the Notes. On the 361st 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 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 written 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
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:
: (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 (iiy) the 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 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 181st 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 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 (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 obligationsoccurs. If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as 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 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 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 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 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 (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:
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 180th 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 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 Outstanding for each day during the period beginning on, and including, the 181st day immediately following, and including, the date on which such an Event of Default first occurred 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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. (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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th 365th day immediately following, and including, the date on which such Event of Default first occurredoccurred (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 (including 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 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 361st 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 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 written 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 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)) 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 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 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 181st calendar 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 of which such Event of Default is cured or validly waived in accordance with Indenture and (iiy) the 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 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 (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(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 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 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 Indenture). On the 361st day after such an 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 validly waived in accordance with this Indenture prior to such 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 Company’s failure to timely give such written 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
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:
: (ai) 0.253.00% 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 (iiy) the 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written notice, the Notes shall be immediately subject to acceleration as provided in Section 6.02. In no event shall 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 (Luminex Corp)
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 (x) for the first 180 days after the occurrence of such an Event of Default (beginning on, and including, the date on which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(fsuch an Event of Default first occurs)) , 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 Outstanding for each day during the such 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 continuing and (iiy) for the 180th day immediately followingperiod from, and including, the date on which 181st 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 181st day immediately followingto, and including, the date on which 270th 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 Outstanding for each day during the such additional 90-day period beginning on, and including, the 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 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)continuing. In no event shall the Additional Interest accrue on the Notes on any day under this Indenture (including 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 180-day period or 0.50%% per annum during the subsequent 90-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 the stated interest payable on the Notes. On the 361st 271st 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 271st 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 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 of such election prior to the beginning of such 180270-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. 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
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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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 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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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. 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:
: (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 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (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 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 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 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 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 Company’s failure to timely give such written 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 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 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 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 the Event of Default is cured or validly waived and (iiy) the 360th day immediately following, and including, the date on which such Event of Default first occurred. 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 (including 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 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 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 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 written 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 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated interest payable on the Notes. On the 361st 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 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 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 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 pursuant to 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, 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 180th 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 181st 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 181st 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 360th 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 (including 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 the stated regular interest payable on the Notes. On the 361st 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 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 1 contract
Sources: Indenture (American Equity Investment Life Holding Co)
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 6.01(f6.02(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 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 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 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 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 (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 the stated regular interest payable on the Notes. On the 361st 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 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
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:
: (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 180th 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 181st 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 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 360th 91st day immediately following, and including, the date on which such Event of Default first occurredoccurs 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 180th 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 (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 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 the stated interest payable on the Notes. On the 361st 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 Company’s failure to timely give such written 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 (which will be the 60th day after written notice is provided to the Company pursuant to Section 6.01(f)) 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 (iiy) the 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 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 181st 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 360th day immediately following, and including, the date on which such Event of 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 (including 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 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 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 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 Company’s failure to timely give such written 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.)