Common use of Contingent Interest Clause in Contracts

Contingent Interest. Additional interest (“Contingent Interest”) will accrue on each Note beginning with the period commencing on August 20, 2014 and ending on February 14, 2015, and for each of the six-month periods thereafter commencing on February 15, 2015, if the average Trading Price of the Notes during the Applicable Five-Day Trading Period with respect to such Interest Period equals 120% or more of the principal amount of the Notes. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes shall equal an annual rate of 0.30% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The Trustee’s sole responsibility pursuant to this Section 4.01 shall be to obtain the Trading Price of the Notes for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company. The Company shall determine whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 2 contracts

Sources: Indenture (Alliant Techsystems Inc), Indenture (Alliant Techsystems Inc)

Contingent Interest. Additional interest ("Contingent Interest") will accrue on each Note beginning with the period commencing on August 20May 1, 2014 2011 and ending on February 14November 1, 20152011, and for each of the six-month interest periods thereafter commencing on February 15November 1, 20152011, if the average Trading Price of the Notes during the Applicable Five-Day Trading Period with respect to such Interest Period equals 120% or more of the principal amount of the Notes. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes shall equal an annual rate of 0.300.40% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The Trustee’s 's sole responsibility pursuant to this Section 4.01 shall be to obtain the Trading Price of the Notes for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company, to the extent that the Trustee is then the Bid Solicitation Agent. The Company shall determine whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Sources: Indenture (Walter Industries Inc /New/)

Contingent Interest. Additional interest (“Contingent Interest”) will accrue on each Note beginning with the period commencing on August 20December 22, 2014 2011 and ending on February June 14, 20152012, and for each of the six-month periods thereafter commencing on February June 15, 20152012, if the average Trading Price of the Notes during the Applicable Five-Day Trading Period with respect to such Interest Period equals or exceeds 120% or more of the principal amount of the Notes. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes shall equal an annual rate of 0.300.25% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The TrusteeBid Solicitation Agent’s sole responsibility pursuant to this Section 4.01 shall be to obtain the Trading Price of the Notes for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company. The Company shall determine whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee Bid Solicitation Agent shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Sources: Indenture (Dress Barn Inc)

Contingent Interest. Additional interest (“Contingent Interest”) will accrue on each Note beginning with the period commencing on August 20November 8, 2014 2011 and ending on February 14April 30, 20152012, and for each of the six-month periods thereafter commencing on February 15May 1, 20152012, if the average Trading Price of the Notes during the Applicable Five-Day Trading Period with respect to such Interest Period equals or exceeds 120% or more of the principal amount of the Notes. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes shall equal an annual rate of 0.300.25% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The Trustee’s sole responsibility pursuant to this Section 4.01 16.01 shall be to obtain the Trading Price of the Notes for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company. The Company shall determine whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.0316.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Sources: Indenture (Quicksilver Resources Inc)

Contingent Interest. Additional interest (“Contingent Interest”) will accrue on each Note beginning with the period commencing on August 20, 2014 2009 and ending on February 14, 20152010, and for each of the six-month periods thereafter commencing on February 15, 20152010, if the average Trading Price of the Notes during the Applicable Five-Day Trading Period with respect to such Interest Period equals 120% or more of the principal amount of the Notes. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes shall equal an annual rate of 0.30% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The Trustee’s sole responsibility pursuant to this Section 4.01 shall be to obtain the Trading Price of the Notes for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company. The Company shall determine whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Sources: Indenture (Alliant Techsystems Inc)

Contingent Interest. Additional interest ("Contingent Interest") will accrue on each Note Debenture during an Interest Period, beginning with the period Interest Period commencing on August 20, 2014 and ending on February 14, 2015, and for each of the six-month periods thereafter commencing on February April 15, 20152009, if the average Trading Price of the Notes Debentures during the Applicable Five-Day Trading Period with respect to such Interest Period equals 120or exceeds 125% or more of the principal amount of the NotesDebentures. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable with respect to such Interest Period per $1,000 principal amount of Notes Debentures shall equal an annual rate of 0.300.25% of the average Trading Price during the Applicable Five-Day Trading Period with respect to such Interest Period. The Trustee’s 's sole responsibility pursuant to this Section 4.01 shall be to obtain the bids for determining the Trading Price of the Notes Debentures for each Trading Day during the Applicable Five-Day Trading Period and to provide such information to the Company, to the extent that the Trustee is then the Bid Solicitation Agent. The Company shall determine the Trading Price and whether holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Sources: Indenture (Allied Waste Industries Inc)