Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the Securities, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interest. At least 10 days before the subsequent special record date, the Issuer shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 16 contracts
Sources: Indenture (Light & Wonder, Inc.), Indenture (Light & Wonder, Inc.), Indenture
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 16 contracts
Sources: Indenture (Aramark), Indenture (Aramark), Indenture (Aramark)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in on a payment of interest on the SecuritiesNotes, it the Issuer shall pay the defaulted interest, interest then borne by the Notes plus (to the extent lawfulpermitted by law) any interest payable on the defaulted interest, in accordance with the terms hereof, to the Persons who are Holders thereof on a subsequent special record date, which date shall be at least five Business Days prior to the fifteenth day next preceding the date fixed by payment date. If such default continues for thirty (30) days, the Issuer for shall fix such special record date and payment date in a manner satisfactory to the payment of defaulted interestTrustee. At least 10 days before the subsequent such special record date, the Issuer (or upon the written request of the Issuer, the Trustee, in the name and at the expense of the Issuer) shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) affected Noteholder a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. The Issuer may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which the Notes may be listed and, upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this sentence, such manner of payment shall be deemed practicable by the Trustee. If the Issuer elects for the Trustee to send such notice to the Holders then the Issuer shall provide such notice to the Trustee at least five (5) days (or such shorter time as may be agreed by the Trustee in its discretion) before such notice is required to be mailed to the Holders. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a6.01(1) shall be paid to Holders as of the regular Record Date record date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 12 contracts
Sources: Indenture (Wesco International Inc), Indenture (Wesco International Inc), Indenture (Cooper-Standard Holdings Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuers shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 12 contracts
Sources: Indenture (Summit Materials, Inc.), Indenture (Alight Group, Inc.), Indenture (Alight Group, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee, in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, (or otherwise deliver in accordance with the applicable procedures of the Depositary) to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 12 contracts
Sources: Indenture (FTAI Aviation Ltd.), Indenture (FTAI Aviation Ltd.), Indenture (FTAI Aviation Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Company and the Subsidiary Guarantors default in a payment of interest on the SecuritiesNotes, it the Company or any such Subsidiary Guarantor (to the extent of its obligations under its Note Guarantee) shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which date shall be at the fifteenth day next preceding earliest practicable date but in all events at least five Business Days prior to the payment date, in each case at the rate provided for with respect to the applicable Notes. The Company shall notify the Trustee and the paying agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date fixed by of the Issuer proposed payment, and at the same time the Company shall deposit with the paying agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements as are satisfactory to the paying agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date, and shall, promptly thereafter, notify the Trustee and the paying agent of defaulted interestany such date. At least 10 15 days before the subsequent special record date, the Issuer shall mail to each Holder, with a copy to the Trustee Company (or cause the Trustee Depository in the name of and at the expense of the Company) shall deliver to mail) Holders a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding The Company and the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer Subsidiary Guarantors may make payment of pay defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listedmanner.
Appears in 9 contracts
Sources: Senior Notes Indenture (Iron Mountain Inc), Senior Notes Indenture (Iron Mountain Inc), Senior Notes Indenture (Iron Mountain Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by for such defaulted interest. The Trustee shall promptly notify the Issuer for the payment of defaulted interestsuch special record date. At least 10 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 8 contracts
Sources: Indenture (New Fortress Energy Inc.), Indenture (Avantor, Inc.), Indenture (New Fortress Energy Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 8 contracts
Sources: Indenture (NXP Semiconductors N.V.), Indenture (Freescale Semiconductor, Ltd.), First Supplemental Indenture (Freescale Semiconductor, Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes (and such nonpayment continues beyond the applicable grace period set forth in Section 6.01(2) hereof), it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer shall mail to each Holder(or, with a copy to upon the written request of the Issuer, the Trustee (in the name and at the expense of the Issuer) will deliver or cause the Trustee to mail) be delivered to Holders a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 8 contracts
Sources: Indenture (Terra Property Trust, Inc.), Indenture (Iqvia Holdings Inc.), Indenture (Benefit Holding, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall notify the Issuer of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder of Notes a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of, in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 8 contracts
Sources: Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Outdoor Holdings, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 7 contracts
Sources: Indenture (Life Time Group Holdings, Inc.), Indenture (Life Time Group Holdings, Inc.), Indenture (Life Time Group Holdings, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 7 contracts
Sources: Indenture (Gannett Co., Inc.), Indenture (Arconic Corp), Indenture (Arconic Rolled Products Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interestinterest at the rate specified in paragraph (b) of Section 4.1 (Payment of Notes), to the Persons who are Holders Holder thereof on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interestinterest (or the next succeeding Business Day if such day is not a Business Day). The Issuer shall fix or cause to be fixed any such special record date and payment date to the reasonable satisfaction of the Trustee. The Issuer shall notify the Trustee and Paying Agents in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment (a “Default Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee or the Paying Agents an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee or the Paying Agents for such deposit prior to the date of the proposed payment, such money when deposited to be held for the benefit of the Persons entitled to such defaulted interest as in this Section 2.12; provided, however, that in no event shall the Issuer deposit monies proposed to be paid in respect of defaulted interest later than 10:00 a.m. New York City time on the Business Day prior to the proposed Default Interest Payment Date with respect to defaulted interest to be paid on the Note. At least 10 15 days before the subsequent special record date, the Issuer shall mail to each HolderHolder at its registered address, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 7 contracts
Sources: Indenture (Central European Distribution Corp), Indenture (Central European Distribution Corp), Indenture (Latchey LTD)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall send electronically, mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 7 contracts
Sources: Indenture (Cano Health, Inc.), Indenture (Healthcare Royalty, Inc.), Indenture (Dycom Industries Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 7 contracts
Sources: Indenture (New Gold Inc. /FI), Indenture, Indenture (Aris Mining Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice (which shall be prepared by the Company) at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Cogent Communications Holdings, Inc.), Indenture, Indenture (Cogent Communications Holdings, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of such special record date and payment date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (JELD-WEN Holding, Inc.), Indenture (Cushman & Wakefield PLC), Indenture (Cushman & Wakefield PLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it the Company shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which may be after the existing Record Date, in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send or cause to be sent, via electronic transmission or by first class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Smithfield Foods Inc), Indenture (Smithfield Foods Inc), Indenture (Smithfield Foods Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee (and the Trustee) in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee, an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee, for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten (10) days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall notify the Issuer of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer or the Trustee, in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Entercom Communications Corp), Indenture (Cumulus Media Inc), Indenture (Entercom Communications Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by for such defaulted interest. The Trustee shall promptly notify the Issuer for the payment of defaulted interestsuch special record date. At least 10 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send, or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Lionsgate Studios Holding Corp.), Indenture (Lions Gate Entertainment Corp /Cn/), Indenture (Lions Gate Entertainment Corp /Cn/)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of principal or interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing (which notice may be electronic) of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing.
(b) Subject to Section 2.12(a) and for greater certainty, any interest which is paid prior to the expiration each Note delivered under this Indenture upon registration of the 30-day period set forth transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Millrose Properties, Inc.), Indenture (Millrose Properties, Inc.), Indenture (Forestar Group Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay pay, or shall deposit with the Paying Agent money in immediately available funds sufficient to pay, the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust and as agent for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 6 contracts
Sources: Indenture (Concordia International Corp.), Indenture (Concordia Investment Holdings (Jersey) LTD), Indenture (Concordia International Corp.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders Holder thereof on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interest. The Issuer shall promptly notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment (a “Default Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee or Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee or Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as in this Section 2.13; provided, however, that in no event shall the Issuer deposit monies proposed to be paid in respect of defaulted interest later than 10:00 a.m. New York City time on the proposed Default Interest Payment Date with respect to defaulted interest to be paid on the Note. At least 10 15 days before the subsequent special record date, the Issuer shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 6 contracts
Sources: Indenture (Fresenius Medical Care AG & Co. KGaA), Indenture (Fresenius Medical Care AG & Co. KGaA), Indenture (Fresenius Medical Care AG & Co. KGaA)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Carters Inc), Indenture (Stericycle Inc), Indenture (Carters Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided, that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Prestige Consumer Healthcare Inc.), Indenture (Prestige Brands Holdings, Inc.), Indenture (Prestige Brands Holdings, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 of this Indenture. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Senior Notes Indenture (AdaptHealth Corp.), Senior Notes Indenture (AdaptHealth Corp.), Senior Notes Indenture (AdaptHealth Corp.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Issuers defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall send electronically, mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Organon & Co.), Indenture (Organon & Co.), Indenture (Organon & Co.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided, that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Vivint Smart Home, Inc.), Indenture (APX Group Holdings, Inc.), Indenture (APX Group Holdings, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at Unless otherwise specified for Notes of any series in the rate of interest then borne applicable Notes Supplemental Indenture, as contemplated by the Securities. The Issuer shallSection 2.01, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If if the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall shall, unless the Trustee fixes another Record Date pursuant to Section 6.10, pay the defaulted interestinterest then borne by the Notes, plus (to the extent lawful) any interest payable on the defaulted interest, in accordance with the terms hereof. The Issuer may pay the defaulted interest to the Persons persons who are Holders on a subsequent special record dateRecord Date, which date shall special Record Date shall, unless otherwise specified for Notes of any series in the applicable Notes Supplemental Indenture, as contemplated by Section 2.01, be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interestinterest or the next succeeding Business Day if such date is not a Business Day. At Unless otherwise specified for Notes of any series in the applicable Notes Supplemental Indenture, as contemplated by Section 2.01, at least 10 15 days before the any such subsequent special record dateRecord Date, the Issuer shall mail to each Holder, with a copy to the Trustee (or cause and the Trustee to mail) Paying Agent, a notice that states the subsequent special record dateRecord Date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the The Issuer may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which the Securities Notes may be listedlisted and, upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this sentence, such manner of payment shall be deemed practicable by the Trustee.
Appears in 5 contracts
Sources: Indenture (Warner Music Group Corp.), Indenture (Warner Music Group Corp.), Indenture (Warner Music Group Corp.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of the Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee (and the Trustee) in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee, an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee, for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten (10) days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall notify the Issuers of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers or the Trustee, in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or shall send electronically, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register, or shall otherwise send such notice in accordance with the procedures of the Depositary, that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.), Indenture (OUTFRONT Media Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing in the form of an Officers’ Certificate of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the register maintained by the Registrar that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Belden Inc.), Indenture (Belden Inc.), Indenture (Belden Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Senior Notes Indenture (WeWork Inc.), Senior Notes Indenture (WeWork Inc.), Indenture (Centennial Resource Development, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Hilton Worldwide Holdings Inc.), Indenture (Hilton Worldwide Holdings Inc.), Indenture (Hilton Worldwide Holdings Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuers shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 5 contracts
Sources: Indenture (Medline Inc.), Indenture (Clarios International Inc.), Indenture (Clarios International Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on the Notes and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.11. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoingSubject to this Section 2.12 and for greater certainty, any interest which is paid prior to the expiration each Note delivered under this Indenture upon registration of the 30-day period set forth transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Alliant Energy Corp), Indenture (Alliant Energy Corp), Indenture (Alliant Energy Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Medline Inc.), Indenture (Medline Inc.), Indenture (Vivint Smart Home, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Tops Holding Ii Corp), Indenture (Tops Markets Ii Corp), Indenture (Tops Holding Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Avago Technologies Manufacturing (Singapore) Pte. Ltd.), Indenture (Avago Technologies LTD), Indenture (Avago Technologies Manufacturing (Singapore) Pte. Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Realogy Group LLC), Indenture (Realogy Group LLC), Indenture (Realogy Group LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes of any series, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record Record Date, in each case at the rate provided in the Notes of such series and in Section 4.01. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note of such series and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special Record Date and payment date, which date ; provided that no such special Record Date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special Record Date. At least 10 15 days before the subsequent special record dateRecord Date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder of such series of Notes a notice at his or her address as it appears in the Note Register that states the subsequent special record dateRecord Date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Base Indenture (Dell Technologies Inc.), Base Indenture (Dell Technologies Inc), Base Indenture (Denali Holding Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in an Officers’ Certificate of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Tesla, Inc.), Indenture (Micron Technology Inc), Indenture (Micron Technology Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (first-class postage prepaid) or deliver in accordance with Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (LPL Financial Holdings Inc.), Indenture (LPL Financial Holdings Inc.), Indenture (LPL Financial Holdings Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail mail, or cause to be mailed to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Senior Notes Indenture (Darling Ingredients Inc.), Indenture (Universal Health Services Inc), Senior Notes Indenture (Darling Ingredients Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding The Trustee shall not at any time be under any duty or responsibility to any Holder to determine the foregoingdefaulted interest, any interest which is paid prior or with respect to the expiration nature, extent, or calculation of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment amount of defaulted interest owed, or with respect to the method employed in such calculation of the defaulted interest. Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Performance Food Group Co), Indenture (Performance Food Group Co), Indenture (Performance Food Group Co)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee (and the applicable Paying Agent) in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the procedures of the Depositary, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Nielsen Holdings PLC), Indenture (Nielsen Holdings PLC), Indenture (Nielsen Holdings PLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 fifteen (15) days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (first-class postage prepaid) or deliver electronically, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (MultiPlan Corp), Indenture (MultiPlan Corp), Indenture (MultiPlan Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, The Trustee will have no duty to determine whether any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest is payable or the amount thereof. Subject to this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Crescent Energy Co), Indenture (Crescent Energy Co), Indenture (Crescent Energy Co)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.14. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Holders list specified in Section 2.05 that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.14 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes of a series, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes of such series and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each such Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.13. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each HolderHolder for the relevant series of Notes, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of this Section 2.13 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note of the 30-day period set forth in Section 6.01(a) same series shall be paid carry the rights to Holders as interest accrued and unpaid, and to accrue, which were carried by such other Note of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listedsuch series.
Appears in 4 contracts
Sources: Senior Indenture (Aptiv Corp), Senior Indenture (Delphi Automotive PLC), Senior Indenture (Delphi Trade Management, LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it the Issuer shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements as are satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (BMC Stock Holdings, Inc.), Indenture (Patheon Holdings Cooperatief U.A.), Indenture (Patheon Holdings Cooperatief U.A.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (NXP Semiconductors N.V.), Indenture (Freescale Semiconductor, Ltd.), First Supplemental Indenture (Freescale Semiconductor, Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee, an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee, for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer or the Trustee, in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 4 contracts
Sources: Indenture (Hill-Rom Holdings, Inc.), Indenture (Hill-Rom Holdings, Inc.), Indenture (Microsemi Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of ------------------ interest on the SecuritiesNotes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders Holder thereof on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer Company for the payment of defaulted interest. The Company shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment (a "Default Interest Payment Date"), and at the same time the ----------------------------- Company shall deposit with the Trustee or Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee or Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as in this Section 2.13; provided, however, that in no event shall the Company deposit monies proposed to be paid in respect of defaulted interest later than 10:00 a.m. New York City time on the proposed Default Interest Payment Date with respect to defaulted interest to be paid on the Note. At least 10 15 days before the subsequent special record date, the Issuer Company shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 3 contracts
Sources: Indenture (Cybernet Internet Services International Inc), Indenture (Cybernet Internet Services International Inc), Indenture (Cybernet Internet Services International Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it the Company shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which may be after the existing record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send or cause to be sent, via electronic transmission or by first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Valvoline Inc), Indenture (Valvoline Inc), Indenture (Ashland Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record Record Date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special Record Date and payment date, which date ; provided that no such special Record Date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special Record Date. At least 10 5 days before the subsequent special record dateRecord Date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder of such Notes a notice at his or her address as it appears in the Note Register that states the subsequent special record dateRecord Date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Sinclair Broadcast Group, LLC), Indenture (Sinclair Broadcast Group, LLC), Indenture (Sinclair Broadcast Group, LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Senior Notes Indenture (Mativ Holdings, Inc.), Senior Notes Indenture (Schweitzer Mauduit International Inc), Senior Secured Notes Indenture (Kosmos Energy Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuers shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoingSubject to this Section 2.12 and for greater certainty, any interest which is paid prior to the expiration each Note delivered under this Indenture upon registration of the 30-day period set forth transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Vine Energy Inc.), Indenture (Vine Energy Inc.), Indenture (Vine Resources Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Matthews International Corp), Indenture (Matthews International Corp), Senior Notes Indenture (Paragon Offshore PLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed each such special record date and payment date; provided, that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuers shall promptly notify the Trustee of such special record date and payment date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Viasat Inc), Indenture (Viasat Inc), Indenture (Diamond Offshore Drilling, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate equal to the then applicable interest rate on the Notes to the extent lawful, as provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten (10) days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 fifteen (15) days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Trust Indenture (Cobalt Refinery Holding Co Ltd.), Trust Indenture, Trust Indenture
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes under Section 4.01 of this Indenture, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Senior Notes Indenture (IHS Markit Ltd.), Senior Notes Indenture (IHS Markit Ltd.), Senior Notes Indenture (IHS Markit Ltd.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest which is payable on the SecuritiesNotes on any Interest Pay- ment Date, it shall pay the defaulted interestinterest (1) in any lawful manner or (2) at the Issuer’s (or any Guar- antor’s, plus (to as the extent lawfulcase may be) any interest payable on the defaulted interestoption, to the Persons who are Holders on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer Special Record Date for the payment of such defaulted interest, in each case at the rate provided in the Notes and in Sec- tion 4.01 hereof. In the case of (2) above, the Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount pro- posed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trus- tee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such Special Record Date for the payment of such defaulted interest; provided, that no such Special Record Date shall be less than 10 days prior to the related pay- ment date for such defaulted interest. The Trustee shall promptly notify the Issuer of such Special Record Date. At least 10 days before the subsequent special record dateSpecial Record Date, the Issuer (or, upon the written request of the Is- ▇▇▇▇, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record dateSpecial Record Date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12, each Note delivered under this Indenture upon transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders holder of such Note thereof on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interest. The Issuer shall notify the Trustee and the Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment (a “Default Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee or the Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as in this Section 2.13; provided, however, that in no event shall the Issuer deposit monies proposed to be paid in respect of defaulted interest later than 12:00 p.m. New York City time on the Business Day prior to the proposed Default Interest Payment Date with respect to defaulted interest to be paid on the Note. At least 10 15 days before the subsequent special record date, the Issuer shall mail to each Holderholder of the Notes at its registered address, with a copy to the Trustee (or cause and the Trustee to mail) Paying Agent, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 3 contracts
Sources: Indenture (Central European Media Enterprises LTD), Indenture (Central European Media Enterprises N.V.), Indenture (CME Media Enterprises B.V.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders of Notes on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Holders (and the Trustee) in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee, an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee, for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten (10) days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall notify the Trustee of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee, in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Beasley Broadcast Group Inc), Indenture (Beasley Broadcast Group Inc), Indenture (Beasley Broadcast Group Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay pay, or shall deposit with the Paying Agent money in immediately available funds sufficient to pay, the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Hudbay Minerals Inc.), Indenture (Hudbay Minerals Inc.), Indenture (Concordia International Corp.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with Holder a copy notice at his or her address as it appears in the Note Register (and deliver such notice to the Trustee (or cause the Trustee to mailDepositary in accordance with its procedures) a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Anywhere Real Estate Group LLC), Indenture (Anywhere Real Estate Group LLC), Indenture (Realogy Holdings Corp.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing in the form of an Officer’s Certificate of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the register maintained by the Registrar that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Allison Transmission Holdings Inc), Indenture (Allison Transmission Holdings Inc), Indenture (Allison Transmission Holdings Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee, in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, (or otherwise deliver in accordance with the applicable procedures of the Depositary) to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Meredith Corp), Indenture (Meredith Corp), Indenture (Time Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Laureate Education, Inc.), Indenture (Laureate Education, Inc.), Indenture (Laureate Education, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers shall notify the Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Paying Agent shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Paying Agent shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Paying Agent or Registrar in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or otherwise delivered, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (PBF Energy Co LLC), Indenture (PBF Holding Co LLC), Indenture (PBF Energy Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing in the form of an Officers’ Certificate of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the register maintained by the Registrar that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Belden Inc.), Indenture (Belden Inc.), Indenture (Belden Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes. The Company shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and the Company shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Registrar in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice (which shall be prepared by the Company) at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Cogent Communications Holdings, Inc.), Indenture (Cogent Communications Holdings, Inc.), Indenture
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it the Issuers shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuers may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (J Crew Group Inc), Indenture (J Crew Group Inc), Restructuring Support Agreement (J Crew Group Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes of a series, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes of such series and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note of such series and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, or otherwise deliver in accordance with the Applicable Procedures, to each HolderHolder of Notes of such series, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register for such series that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note of a series delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date any other Note for the Interest Payment Date for same series shall carry the rights to interest accrued and unpaid, and to accrue, which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment were carried by such other Note of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listedsuch series.
Appears in 3 contracts
Sources: Indenture (Hilton Worldwide Holdings Inc.), Indenture (Hilton Worldwide Holdings Inc.), Indenture (Hilton Worldwide Holdings Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders Holder thereof on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of defaulted interest. The Issuer shall promptly notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each such Note and the date of the proposed payment (a “Default Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee or Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee or Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as in this Section 2.13; provided, however, that in no event shall the Issuer deposit monies proposed to be paid in respect of defaulted interest later than 10:00 a.m. Frankfurt time on the proposed Default Interest Payment Date with respect to defaulted interest to be paid on the Note. At least 10 15 days before the subsequent special record date, the Issuer shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 3 contracts
Sources: Indenture (Fresenius Medical Care AG & Co. KGaA), Indenture (Fresenius Medical Care AG & Co. KGaA), Indenture (Fresenius Medical Care AG & Co. KGaA)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes of a series, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes of such series and in Section 4.01 hereof. The Company may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Company shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each such Note and the date of the proposed payment, which and at the same time the Company shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.13. The Company shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Company (or, upon the written request of the Company, the Paying Agent in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each HolderHolder for the relevant series of Notes, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of this Section 2.13 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note of the 30-day period set forth in Section 6.01(a) same series shall be paid carry the rights to Holders as interest accrued and unpaid, and to accrue, which were carried by such other Note of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listedsuch series.
Appears in 3 contracts
Sources: Senior Indenture (Aptiv Corp), Subordinated Indenture (Aptiv Corp), Subordinated Indenture (Aptiv PLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Paying Agent shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Paying Agent shall notify the Issuer of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Paying Agent in the name and at the expense of the Issuer) shall mail send to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of, in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (iHeartCommunications, Inc.), Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in writing (which notice may be electronic) of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing.
(b) Subject to Section 2.12(a) and for greater certainty, any interest which is paid prior to the expiration each Note delivered under this Indenture upon registration of the 30-day period set forth transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Five Point Holdings, LLC), Indenture (Five Point Holdings, LLC), Indenture (Five Point Holdings, LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing (which notice may be sent electronically) of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail send, or cause to be sent, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing.
(b) Subject to Section 2.12(a) and for greater certainty, any interest which is paid prior to the expiration each Note delivered under this Indenture upon registration of the 30-day period set forth transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Howard Hughes Corp), Indenture (Howard Hughes Corp), Indenture (Howard Hughes Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed (first-class postage prepaid) or deliver electronically, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (MultiPlan Corp), Indenture (MultiPlan Corp), Indenture (MultiPlan Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall notify the Issuer of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of, in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Clear Channel Communications Inc), Indenture (CC Media Holdings Inc), Indenture (C C Media Holdings Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Energy Future Intermediate Holding CO LLC), Indenture (Energy Future Intermediate Holding CO LLC), Indenture (Texas Competitive Electric Holdings CO LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in an Officer’s Certificate of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send, or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Block, Inc.), Indenture (Square, Inc.), Indenture (Square, Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01; provided that no special record date shall be required with respect to defaulted interest paid within the fifteenth day next preceding applicable grace period. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date fixed by of the Issuer proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment of date; provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding The Trustee will have no duty whatsoever to determine whether any defaulted interest is payable or the foregoing, any interest which is paid prior amount thereof.
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Permian Resources Corp), Indenture (Permian Resources Corp), Indenture (Permian Resources Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it the Issuer shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements as are satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 3 contracts
Sources: Indenture (Reliant Software, Inc.), Indenture (Reliant Software, Inc.), Indenture (Community Choice Financial Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes of a series, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes of such series and in Section 4.01 hereof. The Company may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Company shall notify the Trustee and Paying Agent in writing of the amount of defaulted interest proposed to be paid on each such Note and the date of the proposed payment, which and at the same time the Company shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee and Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.13. The Trustee shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each HolderHolder for the relevant series of Notes, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of this Section 2.13 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note of the 30-day period set forth in Section 6.01(a) same series shall be paid carry the rights to Holders as interest accrued and unpaid, and to accrue, which were carried by such other Note of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listedsuch series.
Appears in 3 contracts
Sources: Senior Indenture (Delphi Automotive PLC), Senior Indenture (Delphi Trade Management, LLC), Subordinated Indenture (Delphi Trade Management, LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it the Company shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which may be after the existing Record Date, in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date and in any event at least 20 days before such special record date. At least 10 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send or cause to be sent, via electronic transmission or by first class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Smithfield Foods Inc), Indenture (Smithfield Foods Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it the Company shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements as are satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (United States Steel Corp), Indenture (United States Steel Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest or any other amount due on the SecuritiesNotes as provided in this Indenture (the “Defaulted Amount”), it then regardless of whether such failure constitutes an Event of Default, (i) such Defaulted Amount will forthwith cease to be payable to the Holder of such Note otherwise entitled to such payment; (ii) the Issuer shall pay the defaulted interest, interest (plus (interest on such defaulted interest to the extent lawful) on such Defaulted Amount in any lawful manner (including through the issuance of PIK Notes) for each day, if any, during the period from, and including, such due date to, but excluding, the date of payment of such Defaulted Amount and default interest, which default interest payable will accrue on each such day at a rate per annum equal to the rate at which interest accrues on the Notes on such day. The Issuer may pay the defaulted interest, interest to the Persons persons who are Holders on a subsequent special record date, which date shall be the fifteenth day next preceding the date fixed selected by the Issuer for the payment of defaulted interest. At least 10 Issuer; provided that such special record date must be no more than fifteen (15), nor less than ten (10), calendar days before the subsequent such payment date; and (iv) at least fifteen (15) calendar days before such special record date, the . The Issuer shall mail fix or cause to be fixed any such special record date and payment date in a manner not deemed impractical for the Trustee and shall promptly deliver to each Holder, Holder (with a copy to the Trustee (or cause the Trustee to mailTrustee) a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a6.01(1) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed.
Appears in 2 contracts
Sources: Indenture (Better Home & Finance Holding Co), Exchange Agreement (Better Home & Finance Holding Co)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Company of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Oppenheimer Holdings Inc), Indenture (Oppenheimer Holdings Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing (which notice may be electronic) of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall send, mail or deliver by electronic transmission in accordance with the Applicable Procedures, or cause to be sent, mailed or delivered by electronic transmission in accordance with the Applicable Procedures to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding The Trustee shall not at any time be under any duty or responsibility to any Holder to determine the foregoingdefaulted interest, any interest which is paid prior or with respect to the expiration nature, extent or calculation of the 30-day period set forth in Section 6.01(a) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment amount of defaulted interest owed, or with respect to the method employed in such calculation of the defaulted interest.
(b) Subject to the foregoing provisions of this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: First Supplemental Indenture (DIEBOLD NIXDORF, Inc), Senior Secured Notes Indenture (DIEBOLD NIXDORF, Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer shall notify the Paying Agent in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Paying Agent for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Paying Agent shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Paying Agent shall notify the Issuer of such special record date promptly, and in any event at least 20 days before such special record date. At least 10 15 days before the subsequent special record date, the Issuer (or, upon the written request of the Issuer, the Paying Agent in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of, in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Clear Channel Communications Inc), Indenture (Clear Channel Communications Inc)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuers shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail send, or cause to be sent, in accordance with the applicable procedures of the Depositary, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Alliance Holdings GP, L.P.), Indenture (Alliance Resource Partners Lp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Company defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Company shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Company shall promptly notify the Trustee of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail send or cause to be sent to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a6.01(a)(2) shall be paid to Holders as of the regular Record Date record date for the Interest Payment Date for which interest has not been paid. Notwithstanding Subject to the foregoingforegoing provisions of this Section 2.12 and for greater certainty, the Issuer may make payment each Note delivered under this Indenture upon registration of defaulted interest transfer of or in exchange for or in lieu of any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Alta Equipment Group Inc.), Indenture (Alta Equipment Group Inc.)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuer of such special record date. At least 10 days before any time prior to the subsequent related payment date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or deliver by electronic transmission in accordance with the Applicable Procedures, or cause to be mailed or delivered by electronic transmission in accordance with the Applicable Procedures to each Holder, a notice that states the special record date, the Issuer shall mail to each Holder, with a copy to the Trustee (or cause the Trustee to mail) a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a6.01(a)(1) shall be paid to Holders as of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing.
(b) Subject to Section 2.12(a) and for greater certainty, the Issuer may make payment each Note delivered under this Indenture upon registration of defaulted interest transfer of or in exchange for or in lieu of any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Senior Notes Indenture (Neogen Corp), Senior Notes Indenture (Garden SpinCo Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults Issuers default in a payment of interest on the SecuritiesNotes, it they shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, interest to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than ten days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with Holder a copy notice at his or her address as it appears in the Note Register (and deliver such notice to the Trustee (or cause the Trustee to mailDepositary in accordance with its procedures) a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Indenture (Realogy Group LLC), Indenture (Realogy Group LLC)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periodsa) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer Partnership defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which in each case at the rate provided in the Notes and in Section 4.01. The Partnership shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Partnership shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Trustee shall promptly notify the Partnership of such special record date. At least 10 15 days before the subsequent special record date, the Issuer Partnership (or, upon the written request of the Partnership, the Trustee in the name and at the expense of the Partnership) shall mail or deliver by electronic transmission in accordance with the applicable procedures of the Depositary, or cause to be mailed or delivered by electronic transmission in accordance with the applicable procedures of the Depositary, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Holder a notice that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior .
(b) Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of, transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue interest, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Senior Notes Indenture (Equitrans Midstream Corp), Senior Notes Indenture (Equitrans Midstream Corp)
Defaulted Interest. The Issuer will pay (a) If the Company fails to make a payment of interest on overdue principal from time to time on demand at the rate of Notes, it shall pay such defaulted interest then borne by the Securities. The Issuer shallplus, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the Securities, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest. It may pay such defaulted interest, plus any such interest payable on it, to the Persons persons who are Holders on a subsequent special record date, which . The Company shall fix any such record date.
(b) The Company may elect to make payment of any defaulted interest to the persons in whose names the Notes are registered at the close of business on a special record date shall be the fifteenth day next preceding the date fixed by the Issuer for the payment of such defaulted interest, which shall be fixed in the following manner. At least 10 days before the subsequent special record date, the Issuer The Company shall mail to each Holder, with a copy to notify the Trustee (or cause the Trustee to mail) a notice that states the subsequent special record date, the payment date and in writing of the amount of defaulted interestinterest proposed to be paid on each Note and the date of the proposed payment (which shall not be less than 20 days after such notice is received by the Trustee), and interest payable on at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest, if any, interest or shall make arrangements satisfactory to be paid. Notwithstanding the foregoing, any interest which is paid Trustee for such deposit on or prior to the expiration date of the 30proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such defaulted interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such defaulted interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment (the “Special Record Date”). The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such defaulted interest and the Special Record Date therefor to be mailed, first-day period set forth in class postage prepaid, to each Holder of Notes at his address as it appears on the list of Securityholders maintained pursuant to Section 6.01(a) 2.05 not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such defaulted interest and the Special Record Date therefor having been mailed as aforesaid, such defaulted interest shall be paid to Holders as the persons in whose names the Notes are registered at the close of the regular business on such Special Record Date for and shall no longer be payable pursuant to the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer following paragraph (c).
(c) The Company may make payment of any defaulted interest on the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities such Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee.
Appears in 2 contracts
Sources: Indenture (Delta Air Lines Inc /De/), Indenture (Delta Air Lines Inc /De/)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in on a payment of interest on the SecuritiesNotes, it the Issuer shall pay the defaulted interest, interest then borne by the Notes plus (to the extent lawfulpermitted by law) any interest payable on the defaulted interest, in accordance with the terms hereof, to the Persons who are Holders thereof on a subsequent special record date, which date shall be at least five Business Days prior to the fifteenth day next preceding the date fixed by payment date. If such default continues for thirty (30) days, the Issuer for the shall fix such special record date and payment of defaulted interestdate. At least 10 days before the subsequent such special record date, the Issuer (or upon the written request of the Issuer, the Trustee, in the name and at the expense of the Issuer) shall mail send to each Holder, with a copy to the Trustee (or cause the Trustee to mail) affected Holder a notice that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. The Issuer may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements (if applicable) of any securities exchange on which the Notes may be listed and, upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this sentence, such manner of payment shall be deemed practicable by the Trustee. If the Issuer elects for the Trustee to send such notice to the Holders then the Issuer shall provide such notice to the Trustee along with a written notice to the Trustee instructing the Trustee to send such notice to the Holders at least five (5) days (or such shorter time as may be agreed by the Trustee in its discretion) before such notice is required to be mailed to the Holders. Notwithstanding the foregoing, any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.01(a6.01(1) shall be paid to Holders as of the regular Record Date record date for the Interest Payment Date for which interest has not been paid. Notwithstanding The Trustee shall not at any time be under any duty or responsibility to the foregoingHolders to determine the defaulted interest, or with respect to the Issuer may make payment nature, extent, or calculation of the amount of defaulted interest owed, or with respect to the method employed in any other lawful manner not inconsistent with such calculation of the requirements of any securities exchange on which the Securities may be listeddefaulted interest.
Appears in 2 contracts
Sources: Indenture (Ingevity Corp), Indenture (Ingevity Corp)
Defaulted Interest. The Issuer will pay interest on overdue principal from time to time on demand at the rate of interest then borne by the Securities. The Issuer shall, to the extent lawful, pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If the Issuer defaults in a payment of interest on the SecuritiesNotes, it shall pay the defaulted interestinterest in any lawful manner plus, plus (to the extent lawful) any , interest payable on the defaulted interest, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment, which and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section 2.12. The Issuer shall fix or cause to be fixed any such special record date and payment date; provided that no such special record date shall be less than 10 days prior to the fifteenth day next preceding the related payment date fixed by the Issuer for the payment of such defaulted interest. The Issuer shall promptly notify the Trustee of any such special record date. At least 10 15 days before the subsequent any such special record date, the Issuer (or, upon the written request of the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail or cause to be mailed, first-class postage prepaid, to each Holder, with a copy to the Trustee (or cause the Trustee to mail) Trustee, a notice at his or her address as it appears in the Note Register that states the subsequent special record date, the related payment date and the amount of defaulted interest, and such interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any interest which is paid prior Subject to the expiration foregoing provisions of the 30-day period set forth this Section 2.12 and for greater certainty, each Note delivered under this Indenture upon registration of transfer of or in Section 6.01(a) shall be paid to Holders as exchange for or in lieu of the regular Record Date for the Interest Payment Date for which interest has not been paid. Notwithstanding the foregoing, the Issuer may make payment of defaulted interest in any other lawful manner not inconsistent with Note shall carry the requirements of any securities exchange on rights to interest accrued and unpaid, and to accrue, which the Securities may be listedwere carried by such other Note.
Appears in 2 contracts
Sources: Senior Notes Indenture (Claires Stores Inc), Senior Secured First Lien Notes Indenture (Claires Stores Inc)