Automatic Call Sample Clauses
Automatic Call. This Global Note shall be automatically called and subject to mandatory redemption if the closing level of the Index on any Observation Date is greater than or equal to the applicable Call Level. If this Global Note is called pursuant to the preceding sentence, the Holder shall receive the Call Amount per Unit applicable to such Observation Date. If this Global Note is automatically called on an Observation Date other than the Final Observation Date, the Company shall redeem this Global Note and pay the applicable Call Amount on the fifth Banking Business Day after the applicable Observation Date, subject to postponement as described below. If this Global Note is called on the Final Observation Date, the Company shall redeem this Global Note and pay the Call Amount on the Maturity Date. If an Observation Date (other than the Final Observation Date) is not an Index Business Day or if there is a Market Disruption Event (as defined below) on such day, the applicable Observation Date shall be the immediately succeeding Index Business Day during which no Market Disruption Event shall have occurred or is continuing; provided that the closing level of the Index shall not be determined on a date later than the tenth scheduled Index Business Day after the scheduled Observation Date, and if such day is not an Index Business Day, or if there is a Market Disruption Event on such date, the Calculation Agent shall determine (or, if not determinable, estimate, in a manner which is considered commercially reasonable under the circumstances) the closing level of the Index on such tenth scheduled Index Business Day. If the Final Observation Date is not an Index Business Day or if there is a Market Disruption Event on such day, the Final Observation Date shall be the immediately succeeding Index Business Day during which no Market Disruption Event shall have occurred or is continuing; provided that the closing level of the Index shall be determined (or, if not determinable, estimated by the Calculation Agent in a manner which is considered commercially reasonable under the circumstances) on a date no later than the second scheduled Index Business Day prior to the Maturity Date, regardless of the occurrence of a Market Disruption Event on that scheduled Index Business Day. If, due to a Market Disruption Event or otherwise, an Observation Date (other than the Final Observation Date) is postponed so that it falls less than five Banking Business Days prior to the scheduled date ...
Automatic Call. The Company shall call and redeem the Notes, in whole but not in part, at the applicable Call Price (as defined below) on a Call Date (as defined below) if the 2-Year U.S. Dollar Constant Maturity Swap Rate (as defined below) on the fifth Business Day (as defined below) prior to such Call Date (an “Observation Date”) is less than or equal to the Strike Rate (as defined below). The “Strike Rate” equals 3.00%. As used herein, the “Call Price” per Unit, if automatically called, shall equal the amount set forth below under Call Price per Unit: February 14, 2009 $1,080.00 March 14, 2009 $1,086.67 April 14, 2009 $1,093.33 May 14, 2009 $1,100.00 June 14, 2009 $1,106.67 July 14, 2009 $1,113.33 August 14, 2009 $1,120.00 September 14, 2009 $1,126.67 October 14, 2009 $1,133.33 November 14, 2009 $1,140.00 December 14, 2009 $1,146.67 January 14, 2010 $1,153.33 February 14, 2010 $1,160.00 March 14, 2010 $1,166.67 April 14, 2010 $1,173.33 May 14, 2010 $1,180.00 June 14, 2010 $1,186.67 July 14, 2010 $1,193.33 August 14, 2010 $1,200.00 September 14, 2010 $1,206.67 October 14, 2010 $1,213.33 November 14, 2010 $1,220.00 December 14, 2010 $1,226.67 January 14, 2011 $1,233.33 Feburary 14, 2011 $1,240.00 Upon automatic call, the Notes will no longer be outstanding and no additional payments will be made on the Notes on any subsequent Call Date or on the Stated Maturity Date. As used herein, a “Call Date” will occur on each date set forth above, from and including February 14, 2009 to and including the Stated Maturity Date.