Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay interest on the principal amount of the US $1,000,000,000 Securities at 6.75% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 2 contracts
Sources: Indenture (ArcelorMittal), Indenture (ArcelorMittal)
Interest. ArcelorMittalTALOS PRODUCTION LLC, a société anonyme organized Delaware limited liability company (such entity, and its successors and assigns under Luxembourg law will the Indenture hereinafter referred to, being herein called “Holdings”), and TALOS PRODUCTION FINANCE INC., a Delaware corporation (such entity, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Co-Issuer” and, together with Holdings, the “Issuer”), jointly and severally, promise to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities rate per annum shown above; provided, however, that if a Registration Default (as defined in the Registration Rights Agreement) occurs, Additional Interest will accrue on this Note at 6.75a rate of 0.25% per annum from March 7, 2011 until Maturity. Interest will be subject and including the date on which any such Registration Default shall occur to adjustment in accordance with Article III of but excluding the Fourth Supplemental Indenture referred to belowdate on which all Registration Defaults have been cured. The Company will Issuers shall pay interest semiannually on [●] and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 [●] of each year (each an “Interest Payment Date) ”), commencing on September 1[●], 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day2018. Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or duly provided for or, if no interest has already been paidpaid or duly provided for, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be[●]4, until the earlier principal hereof is due. Interest shall be computed on the basis of (a) a 360-day year of twelve 30-day months. The Issuers shall pay interest on overdue principal at the day on which all sums due in respect of such Securities up to that day are received rate borne by the relevant Holder or (b) Notes, and it shall pay interest on overdue installments of interest at the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 2 contracts
Sources: Exchange Agreement (Talos Energy Inc.), Exchange Agreement (SAILFISH ENERGY HOLDINGS Corp)
Interest. ArcelorMittalSubject to the paragraph(s) below, a société anonyme organized under Luxembourg law will the Issuer promises to pay interest on the unpaid principal amount of the US $1,000,000,000 Securities this Note at 6.755.875% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company will Issuer shall pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each each, an “Interest Payment Date”). Interest shall accrue from the most recent date to which interest has been paid on this Note (or one or more Predecessor Notes) commencing or, if no interest has been paid, from and including the date of original issuance of this Note; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 face hereof and August 15, immediately preceding the relevant next succeeding Interest Payment Date. If an , interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date or shall be December 15, 2022. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the maturity rate then in effect on this Note to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. If a payment date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case payment may be, be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period. From and including June 15, 2027 (the “Interest Rate Step-Up Date”), the interest rate accruing on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will Notes may be calculated subject to adjustment as set forth in accordance with Section 3.10 2.16 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 2 contracts
Sources: Indenture (Kinetik Holdings Inc.), Senior Notes Agreement (Kinetik Holdings Inc.)
Interest. ArcelorMittalEmergent Capital, Inc., a société anonyme organized Florida corporation (the “Company”, which term shall include any successor company under Luxembourg law will the Indenture hereinafter referred to), promises to pay interest on the principal amount of this Security at the US $1,000,000,000 Securities at 6.75rate of 5.00% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company will shall pay interest semiannually, in arrears, on February 15 and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 August 15 of each year (each an “Interest Payment Date) ”), commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, 2017. Interest payable on any Interest Payment Date shall include interest accrued from and including the immediately preceding Interest Payment Date (or if none, from and including [ ], 2017) to but excluding the relevant Interest Payment Date. If an Interest Payment Date or Cash interest will be computed on the maturity date in respect basis of the Securities a 360-day year comprised of twelve 30-day months. Any payment required to be made on a day that is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, shall be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, such day and no without any interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh daydelay. The Company shall, except to the fullest extent that there is failure permitted by law, pay interest in immediately available funds on overdue principal and interest at the subsequent payment then applicable interest rate borne by this Security, which interest shall accrue from the date such overdue amount was originally due to the relevant Holders following day preceding the date payment of such notificationamount, including interest thereon, has been made or duly provided for. Any reference herein to interest accrued or payable as of any date shall include any Additional Interest that may be payable in accordance with the provision of Section 8.16 of the Indenture and any Special Interest that may be payable in accordance with the provisions of Section 8.02 of the Indenture.
Appears in 2 contracts
Sources: Indenture (Emergent Capital, Inc.), Indenture (Emergent Capital, Inc.)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Issuers promise to pay interest on the principal amount of the US $1,000,000,000 Securities at 6.75% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment this Note in accordance with Article III the following terms:
(a) during such time that any Refinanced Debt is outstanding, this Note shall accrue interest (the “Refinance Term Interest”) at the aggregate rate of 5% plus the Fourth Supplemental Indenture referred to belowhighest regular interest rate payable on such Refinanced Debt, provided that in any event, the Refinance Term Interest shall not be lower than 10% per annum. During the period when Refinance Term Interest is accruing on this Note, such Refinance Term Interest shall be payable 50% in cash, payable quarterly in arrears, and 50% as PIK Interest, compounded quarterly in arrears. By way of example, if the Refinanced Debt has a per annum interest rate of 7%, the per annum interest rate of this Note shall be 12% and shall be payable 6% in cash and 6% in PIK Interest; and
(b) during such time that no Refinanced Debt is outstanding, this Note shall accrue cash interest at the rate of 10% per annum, payable quarterly in arrears, until maturity. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears quarterly on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September January 1, 2011April 1, to the Holders of Securities registered as July 1, and October 1 each year, or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities Note will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that if there is no existing Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be calculated April 1, 2010. The Issuers shall pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) during any period in which an Event of Default has occurred and is continuing (including any interest on overdue principal, Redemption Price and Purchase Price and on overdue installments of interest (without regard to any applicable grace period)) at the rate equal to 2% per annum in excess of the Indenturethen applicable interest rate on the Notes to the extent lawful, which excess rate shall be paid in cash. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 2 contracts
Sources: Indenture (Morris Publishing Group LLC), Indenture (Morris Publishing Group LLC)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay interest Beginning on the issuance date of this Note (the “Issuance Date”), the outstanding principal amount balance of the US $1,000,000,000 Securities this Note shall bear interest, in arrears, at 6.75% a rate per annum from March 7equal to ten percent (10%), 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amountspayable quarterly on October 1, if anyJanuary 1, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March April 1 and September July 1 of each year (each each, an “Interest Payment Date) ”), commencing on September April 1, 20112009, and on the Maturity Date. Interest shall be payable at the option of the Maker in (A) cash or (B) in registered shares of the Maker’s common stock, par value $0.001 per share (the “Common Stock”); provided, however, (i) payment of interest in shares of Common Stock may only occur if during the 20 Trading Days immediately prior to the Holders applicable Interest Payment Date and through and including the date such shares of Securities registered Common Stock are issued to the Holder all of the Equity Conditions, unless waived by the Holder in writing, have been met and the Maker shall have given the Holder notice in accordance with the notice requirements set forth below, and (ii) as to such as Interest Payment Date, on or prior to such Interest Payment Date, the Maker shall have delivered to the Holder’s account with The Depository Trust Company a number of close shares of business on February 15 and August 15, Common Stock to be applied against such interest payment equal to the quotient of (x) the applicable interest payment divided by (y) 90% of the average VWAP for the five (5) Trading Days immediately preceding the relevant Interest Payment Date. If Interest shall be computed on the basis of a 360-day year of twelve (12) 30-day months, shall compound monthly and shall accrue commencing on the Issuance Date. Furthermore, upon the occurrence of an Interest Payment Date or Event of Default (as defined in Section 2.1 hereof), the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we Maker will pay interest or principalto the Holder, as the case may bepayable on demand, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made outstanding principal balance of and unpaid interest on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, Note from the date it was most recently paid of the Event of Default until such Event of Default is cured at the rate of the lesser of eighteen percent (each such 18%) and the maximum applicable legal rate per annum. Notwithstanding the above, the Maker may not issue a number of shares of Common Stock in excess of the Maximum Monthly Interest Share Amount toward the payment of Interest, as to all outstanding Series A Notes and Series B Notes, in the aggregate, during any rolling twenty (20) Trading Day period. For purposes hereof, an “Maximum Monthly Interest Period”). Interest Share Amount” means 20% of the aggregate dollar trading volume (as reported on Bloomberg) of the Common Stock on the Securities will be calculated in accordance with Section 3.10 of principal Trading Market over the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of twenty (a20) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except consecutive Trading Day period immediately prior to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationapplicable Interest Payment Date.
Appears in 2 contracts
Sources: Senior Secured Convertible Promissory Note (Urigen Pharmaceuticals, Inc.), Senior Secured Convertible Promissory Note (Urigen Pharmaceuticals, Inc.)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay interest on the principal amount of the US $1,000,000,000 500,000,000 Securities at 6.756.250% per annum from March 7February 28, 2011 2012 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Sixth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the IndentureIndenture (as amended by Article IV of the Sixth Supplemental Indenture referred to below), semi-annually in arrears on March 1 February 25 and September 1 August 25 of each year (each an Interest Payment Date) commencing on September 1August 25, 20112012, to the Holders of Securities registered as such as of close of business on February 15 10 and August 1510, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 2 contracts
Sources: Indenture (ArcelorMittal), Indenture (ArcelorMittal)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay The Notes shall bear interest on at the principal amount rate of the US $1,000,000,000 Securities at 6.753.875% per annum from March 7October 4, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of 2006 or from the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an most recent Interest Payment Date to which interest has been paid or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principalprovided for, as the case may be, and shall be payable semi-annually in arrears on April 15 and October 15 of each year (each, an “Interest Payment Date”), commencing on April 15, 2007, until the principal thereof is paid or duly made available for payment, to the Persons in whose names such Notes are registered at the close of business on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will April 1 or October 1 (whether or not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day) immediately preceding the applicable Interest Payment Date (each, a “Regular Record Date”). Interest payable on each Interest Payment Date shall equal the amount of interest accrued for the period commencing on and including the immediately preceding Interest Payment Date in respect of which interest has been paid (or commencing on and including October 4, 2006, if no interest has been paid) and ending on and including the day preceding such Interest Payment Date. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest Notes shall be computed on the Securities will be calculated basis of a 360-day year consisting of twelve 30-day months. If the Operating Partnership shall redeem the Notes in accordance with the provisions of Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption2.07 hereof, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made a Holder shall surrender a Note for repurchase by the Operating Partnership in respect accordance with the provisions of payment of principal2.08 or 2.09 hereof, subject to the next succeeding sentence, accrued and unpaid interest (including Additional Interest, if any) shall be payable to the Holder that shall have surrendered such Note for redemption or repurchase, as the case may be. However, if an Interest Payment Date shall fall on or prior to the Redemption Date or Optional Repurchase Date or Change in which case interest will continue to accrue on the Securities at the rates set forth aboveControl Purchase Date, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days for a Note, and after the Trustee has notified the Holders of receipt of all sums related Regular Record Date, accrued and unpaid interest (including Additional Interest, if any) due in respect of the on such Securities up to that seventh day, except Interest Payment Date shall be payable instead to the extent that there Person in whose name such Note is failure in registered at the subsequent payment to close of business on the relevant Holders following such notificationrelated Regular Record Date.
Appears in 2 contracts
Sources: Second Supplemental Indenture (Brandywine Realty Trust), Second Supplemental Indenture (Brandywine Operating Partnership Lp /Pa)
Interest. ArcelorMittalCEMEX Finance LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (together with its successors and assigns, the “Issuer”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September 1June 14, 2011, to the Holders of Securities registered as 2010; provided that if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodDecember 14, an “Interest Period”). Interest 2009; provided that if there is no existing Default or Event of Default on the Securities will be calculated payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date (but after December 14, 2009), interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue to shall accrue from December 14, 2009. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Securities Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the rates set forth above, as same rate to the case may be, until extent lawful. Interest will be computed on the earlier basis of (a) the a 360-day on which all sums due in respect year of such Securities up to that twelve 30-day are received months. All payments made by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Issuer in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Issuer will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 2 contracts
Sources: Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv)
Interest. ArcelorMittalCentral European Media Enterprises Ltd., a société anonyme company organized under Luxembourg law will the laws of Bermuda (the “Issuer”), promises to pay interest on the principal amount of this Note (as defined herein) at the US $1,000,000,000 Securities at 6.75rate of 15.0% per annum from March 7, 2011 until Maturityannum. Interest on this Note will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, payable semi-annually in arrears on March June 1 and September 1 of each year (each an Interest Payment Date) commencing on September December 1, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such periodeach, an “Interest Periodinterest payment date”). Interest on this Note will accrue from the Securities most recent date to which interest has been paid or, if no interest has been paid, from and including the Issue Date. The Issuer promises to pay such interest on the Notes on any interest payment date entirely by (i) paying cash (“Cash Interest”) on such interest payment date or (ii) increasing the principal amount of the outstanding Notes (“PIK Interest”) on such interest payment date. With respect to interest on the Notes for a semi-annual period due on an interest payment date, the Issuer may elect, at its option, to pay interest due on the Notes on such interest payment date (i) entirely in Cash Interest at the rate of 15.0% per annum (“Cash Interest Payment”) or (ii) entirely in PIK Interest at the rate of 15.0% per annum (“PIK Interest Payment”). In order to elect to pay Cash Interest on any interest payment date, the Issuer must deliver a written notice of its election to the Trustee no later than 10 days prior to such interest payment date (the “Cash Election Deadline”) specifying that it is electing a Cash Interest Payment (and if the Issuer does not deliver such notice on or prior to the Cash Election Deadline, then a PIK Interest Payment shall be made on such interest payment date). Notwithstanding the foregoing, the Issuer shall be deemed to have elected to make a PIK Interest Payment with respect to the entire principal amount of the Notes for all interest payment dates occurring prior to November 15, 2015. PIK Interest on the Notes will be calculated payable in accordance with the manner set forth in Section 3.10 2.17 of the Indenture. Interest will cease to accrue on Following an increase in the Securities on principal amount of the due date for their redemption, unless, upon such due date, outstanding Global Notes as a result of the payment of PIK Interest, the Global Notes will bear interest on such increased principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on amount from and after the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect date of such Securities up to that day are received by payment. The Issuer shall pay interest on overdue principal and on overdue installments of interest and on any Additional Amounts as specified in the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Indenture. Any interest paid on this Note shall be increased to the extent that there is failure in the subsequent payment necessary to the relevant Holders following such notificationpay Additional Amounts as set forth herein.
Appears in 2 contracts
Sources: Indenture (Central European Media Enterprises LTD), Indenture (CME Media Enterprises B.V.)
Interest. ArcelorMittala. Except where specified to the contrary in the Loan Documents, the aggregate outstanding balances of the Obligations shall accrue interest at the per annum rate of ten percent (10%). The Obligations shall bear interest from and after written notice by Lender to Borrower of the occurrence of an Event of Default, and without constituting a société anonyme organized waiver of any such Event of Default, at the per annum rate of twelve percent (12%) (the "Default Rate"). All interest payable under Luxembourg law will pay the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed on the Daily Balance. Interest as provided for herein shall continue to accrue until the Obligations are paid in full.
b. All interest payable by Borrower shall be due and payable on the date that all Advances are due and payable. Lender may, at its option, add such interest and all Lender Expenses to the Obligations, and such amount shall thereafter accrue interest at the rate then applicable under this Agreement.
c. In no event shall interest on the principal amount Obligations exceed the highest lawful rate in effect from time to time. It is not the intention of the US $1,000,000,000 Securities at 6.75% per annum from March 7parties hereto to make an agreement which violates any applicable state or federal usury laws. In no event shall Borrower pay or Lender accept or charge any interest which, 2011 until Maturitytogether with any other charges upon the principal or any portion thereof, exceeds the maximum lawful rate of interest allowable under any applicable state or federal usury laws. Interest will Should any provision of this Agreement or any existing or future Notes or Loan Documents between the parties be subject construed to adjustment in accordance require the payment of interest or any other fees or charges which could be construed as interest which, together with Article III any other charges upon the principal or any portion thereof and any other fees or charges which could be construed as interest, exceeds the maximum lawful rate of interest, then any such excess shall be applied to the remaining principal balance of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional AmountsObligations, if any, pursuant and the remainder refunded to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationBorrower.
Appears in 2 contracts
Sources: Loan and Security Agreement (Princeton Video Image Inc), Loan and Security Agreement (Cablevision Systems Corp /Ny)
Interest. ArcelorMittalCEMEX Finance LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (together with its successors and assigns, the “Issuer”), promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September October 1, 20112014; provided, to the Holders of Securities registered as that if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodApril 1, an “Interest Period”). Interest 2014; provided, that if there is no existing Default or Event of Default on the Securities will be calculated payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date (but after April 1, 2014), interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue to shall accrue from April 1, 2014. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Securities Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the rates set forth above, as same rate to the case may be, until extent lawful. Interest will be computed on the earlier basis of a 360-day year of twelve 30-day months. Each interest period shall end on (abut not include) the day on which all sums due in respect of such Securities up to that day are received relevant interest payment date. All payments made by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Issuer in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Jurisdiction, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Issuer will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 2 contracts
Sources: Indenture (Cemex Sab De Cv), Indenture (Cemex Sab De Cv)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.758.125% per annum from March 7the date provided below until maturity and shall pay the additional interest, 2011 until Maturityif any, in the applicable amount set forth in and pursuant to the terms and provisions of Section 2(d) of the Registration Rights Agreement referred to below (“Additional Interest”). Interest will be subject Promptly after any change in the interest rate payable on this Note as provided in Section 2(d) of the Registration Rights Agreement, the Company shall provide the Trustee an Officers’ Certificate to adjustment the effect that the interest rate payable on the Note has changed in accordance with Article III such section and setting forth the new interest rate payable on the Note and the effective date of such change, and shall provide notice of the Fourth Supplemental Indenture referred same to belowHolders. The Trustee shall not be responsible for monitoring whether Additional Interest is payable pursuant to Section 2(d) of the Registration Rights Agreement. The Company will shall pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually annually, in arrears arrears, on March May 1 and September November 1 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next succeeding Business Day (each an “Interest Payment Date”), except that, if the maturity date of the Note falls on a day that is not a Business Day. Payments postponed to , the next Company will make the required payment of interest and principal on the immediately succeeding Business Day in this situation will be treated under this Indenture Day, as if they it were made on the original date the payment was due. This Note has been issued in exchange for a like aggregate principal amount of the 8.125% Senior Notes due date. Postponement of this kind will not result in a default under 2040 originally issued by Lorillard Tobacco Company (the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day“Lorillard Tobacco Notes”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date on which interest has been paid on the Lorillard Tobacco Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance of the Lorillard Tobacco Notes. The first Interest Payment Date shall be November 1, an “Interest Period”)2015. Interest shall be computed on the Securities basis of a 360-day year of twelve 30-day months. Interest will be calculated not accrue as a result of any postponed or delayed payment in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationthis paragraph.
Appears in 2 contracts
Sources: Security Agreement (Reynolds American Inc), Security Agreement (Reynolds American Inc)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.7591/2% per annum from March 7, 2011 the date hereof until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will maturity [and shall pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of as provided in the IndentureRegistration Rights Agreement, dated January 20, 2011+ referred below].* The Company shall pay interest [and Additional Interest, if any,] semi-annually in arrears on March 1 February 15th and September 1 August 15th of each year (each an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid on the Notes (or one or more Predecessor Notes) commencing or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on September 1the face hereof and the next succeeding Interest Payment Date, 2011, to interest shall accrue from such next succeeding Interest Payment Date; provided further that the Holders of Securities registered as such as of close of business on February 15 and first Interest Payment Date shall be [August 15, immediately preceding 2011]:. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the relevant rate borne by the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest] (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest Payment Dateshall be computed on the basis of a 360-day year of twelve 30-day months. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case payment may be, be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 9½% Senior Notes due 2019 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the Securities will accrue from Initial Note in connection with the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationRegistration Rights Agreement.]**
Appears in 2 contracts
Sources: Indenture (Laredo Petroleum Holdings, Inc.), Indenture (Laredo Petroleum, Inc.)
Interest. ArcelorMittalMDC Partners Inc., a société anonyme organized corporation continued under Luxembourg law will the laws of Canada (together with its successors and assigns, the “Company”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September April 1, 2011, to the Holders of Securities registered as 2014; provided that if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from from, and including, the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from from, and including, October 1, 2013. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the date then applicable interest rate on the Notes to the extent lawful; it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, an “Interest Period”). Interest at the then applicable rate on the Securities will be calculated in accordance with Section 3.10 of the IndentureNotes. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise a 360-day year of twelve 30-day months. All payments made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Company in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Company will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 2 contracts
Sources: Third Supplemental Indenture (MDC Partners Inc), Third Supplemental Indenture (MDC Partners Inc)
Interest. ArcelorMittalVideotron Ltd., a société anonyme organized corporation under Luxembourg law will the laws of Québec (the “Company”), promises to pay interest (as defined in the Indenture) on the principal amount of the US $1,000,000,000 Securities this Note at 6.755.625% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company will shall pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears in equal installments (except as noted below) on March 1 April 15 and September 1 October 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided, an “Interest Period”). Interest however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be October 15, 2013. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the interest rate then in effect under the Indenture and this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. In the case of the first interest period (from the Issue Date, which is June 17, 2013, until the first interest payment date, which is October 15, 2013), interest will be calculated in accordance with Section 3.10 on the basis of the Indentureactual number of days elapsed from the Issue Date to (but excluding) October 15, 2013 divided by 365. Interest In addition, in the case of the final interest period, if applicable (from April 15, 2025 to June 15, 2025), interest will cease to accrue be calculated on the Securities basis of the actual number of days elapsed from April 15, 2025 to (but excluding) June 15, 2025 divided by 365. In the case of any other interest period that is shorter than a full semi-annual interest period due to redemption, interest will be calculated on the due basis of a 365-day year and the actual number of days elapsed from (and including) the date of the previous interest payment to (but excluding) the interest payment date for their redemptionsuch interest period. For the purposes of the Interest Act (Canada), unlesswhenever interest is computed on a basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, upon such due date, payment rate of principal is improperly withheld or refused or if default is otherwise made in respect interest shall be expressed as a yearly rate for purposes of payment the Interest Act (Canada) by multiplying such rate of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven actual number of days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to calendar year of calculation and dividing it by the relevant Holders following such notificationnumber of days in the deemed year.
Appears in 2 contracts
Sources: Indenture (Quebecor Media Inc), Indenture (Videotron Ltee)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75% 9½% per annum from March 7, 2011 the date hereof until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will maturity [and shall pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of as provided in the IndentureRegistration Rights Agreement, dated January 20, 2011+ referred below].* The Company shall pay interest [and Additional Interest, if any,] semi-annually in arrears on March 1 February 15th and September 1 August 15th of each year (each an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid on the Notes (or one or more Predecessor Notes) commencing or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on September 1the face hereof and the next succeeding Interest Payment Date, 2011, to interest shall accrue from such next succeeding Interest Payment Date; provided further that the Holders of Securities registered as such as of close of business on February 15 and first Interest Payment Date shall be [August 15, immediately preceding 2011]:. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the relevant rate borne by the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest] (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest Payment Dateshall be computed on the basis of a 360-day year of twelve 30-day months. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case payment may be, be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 9½% Senior Notes due 2019 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the Securities will accrue from Initial Note in connection with the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationRegistration Rights Agreement.]**
Appears in 2 contracts
Sources: Indenture (Laredo Petroleum Holdings, Inc.), Indenture (Laredo Petroleum, Inc.)
Interest. ArcelorMittalAPCOA/Standard Parking, Inc., a société anonyme organized under Luxembourg law will Delaware corporation (the "Company"), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.7514% per annum from March 7January 11, 2011 2002 until Maturity. Interest will be subject maturity and shall pay the Liquidated Damages, if any, payable pursuant to adjustment in accordance with Article III Section 7 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. Interest in the amount of 10% per annum will be paid in cash, and interest in the amount of 4% per annum will be paid in additional Notes (the "PIK Notes"). The Company will pay interest and Additional AmountsLiquidated Damages, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan " Interest Payment Date"). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of such Notes issuance; PROVIDED that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; PROVIDED, FURTHER, that the first Interest Payment Date shall be June 15, 2002. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it was most recently paid will pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages, an “Interest Period”)if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the Securities basis of a 360-day year of twelve 30-day months. PIK Notes will be calculated issued in accordance denominations of $100.00 principal amount and integral multiples thereof. The amount of PIK Notes issued to any Holder will be rounded down to the nearest $100.00 with Section 3.10 any fractional amount paid to such Holder in cash. PIK Notes will bear interest (including interest paid on the date of maturity of the Notes) and Liquidated Damages, if any, in a manner identical to all other Notes issued under the Indenture. Interest On the maturity date the Company will cease pay to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect 105% of the such Securities up to that seventh dayprincipal amount hereof, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationplus interest and Liquidated Damages, if any, then due.
Appears in 2 contracts
Sources: Indenture (Ap Holdings Inc), Indenture (Apcoa Standard Parking Inc /De/)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay interest on the principal amount of the US $US$1,000,000,000 Securities at 6.757.000% per annum from March 7October 8, 2011 2009 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Second Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 April 15 and September 1 October 15 of each year (each an Interest Payment Date) commencing on September 1April 15, 20112010, to the Holders of Securities registered as such as of close of business on February 15 April 1 and August 15October 1, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 2 contracts
Sources: Indenture (ArcelorMittal), Indenture (ArcelorMittal)
Interest. ArcelorMittalTrinity Industries, Inc., a société anonyme organized Delaware corporation (such corporation, and its successors and assigns under Luxembourg law will the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the US $1,000,000,000 Securities at 6.75rate of 3 7 / 8 % per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears semiannually on March June 1 and September December 1 of each year (each an Interest Payment Date) commencing on September December 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day2006. Interest on the Securities will accrue from the Closing Date most recent date to which interest has been paid on the Securities or, if no interest has already been paid, from June 7, 2006. Interest will be computed on the date it was most recently paid (each such period, an “Interest Period”)basis of a 360-day year of twelve 30-day months. Interest on Securities converted after the close of business on a Regular Record Date, but prior to the opening of business on the corresponding interest payment date, will be paid to the Holder on the Regular Record Date but, upon conversion, the Holder must pay the Company the interest which has accrued and will be paid to the Holder on such interest payment date. No such payment need be made with respect to Securities in respect of which a Redemption Date has been declared that falls within such period or on such interest payment date. A Holder shall be entitled to receive accrued and unpaid interest, including any Contingent Interest, in respect of a Security (A) if the Company calls such Security for redemption and such Holder converts such Security on or prior to the Redemption Date, (B) if the Company establishes a Fundamental Change Purchase Date during the period from the close of business on any Regular Record Date to the opening of business on the corresponding interest payment date has been established that falls within this period or on such interest payment day and such Holder converts its Security prior to the Fundamental Change Purchase Date, (C) if a Holder converts the Securities will be calculated following the Record Date immediately preceding the Stated Maturity, or (D) to the extent of any overdue interest, if any overdue interest exists at the time of conversion with respect to a Security. If the principal hereof or any portion of such principal is not paid when due (whether upon acceleration, upon the date set for payment of the redemption price pursuant to paragraph 6 hereof, upon the date set for payment of a Purchase Price or Fundamental Change Purchase Price pursuant to paragraph 7 hereof or upon the Stated Maturity of this Security) or if interest (including Contingent Interest, if any) due hereon or any portion of such interest is not paid when due in accordance with Section 3.10 of this paragraph, then in each such case the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case overdue amount shall bear interest will continue to accrue on the Securities at the rates set forth aboverate of 3 7 / 8 % per annum, as the case may be, until the earlier of compounded semiannually (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment of such interest shall be legally enforceable), which interest shall accrue from the date such overdue amount was due to the relevant Holders following date payment of such notificationamount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand.
Appears in 2 contracts
Sources: Indenture (Trinity Industries Inc), Indenture (Trinity Industries Inc)
Interest. ArcelorMittalVideotron Ltd., a société anonyme organized corporation under Luxembourg law will the laws of Québec (the “Company”), promises to pay interest (as defined in the Indenture) on the principal amount of the US $1,000,000,000 Securities this Note at 6.755.75% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company will shall pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears in equal installments (except as noted below) on March 1 15 and September 1 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance; provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be March 15, 2016. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the interest rate then in effect under the Indenture and this Note; it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. In the case of the final interest period, an “Interest Period”if applicable (from September 15, 2025 to January 15, 2026). Interest on the Securities , interest will be calculated in accordance with Section 3.10 on the basis of the Indentureactual number of days elapsed from September 15, 2025 to (but excluding) January 15, 2026 divided by 365. Interest In the case of any other interest period that is shorter than a full semi-annual interest period due to redemption, interest will cease to accrue be calculated on the Securities on basis of a 365-day year and the due actual number of days elapsed from (and including) the date of the previous interest payment to (but excluding) the interest payment date for their redemptionsuch interest period. For the purposes of the Interest Act (Canada), unlesswhenever interest is computed on a basis of a year (the “deemed year”) which contains fewer days than the actual number of days in the calendar year of calculation, upon such due date, payment rate of principal is improperly withheld or refused or if default is otherwise made in respect interest shall be expressed as a yearly rate for purposes of payment the Interest Act (Canada) by multiplying such rate of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven actual number of days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to calendar year of calculation and dividing it by the relevant Holders following such notificationnumber of days in the deemed year.
Appears in 2 contracts
Sources: Indenture (Videotron Ltee), Indenture (Quebecor Media Inc)
Interest. ArcelorMittalMDC Partners Inc., a société anonyme organized corporation continued under Luxembourg law will the laws of Canada (together with its successors and assigns, the “Company”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September October 1, 2011, to the Holders of Securities registered as 2014; provided that if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from from, and including, the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from from, and including, April 1, 2014. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the date then applicable interest rate on the Notes to the extent lawful; it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, an “Interest Period”). Interest at the then applicable rate on the Securities will be calculated in accordance with Section 3.10 of the IndentureNotes. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise a 360-day year of twelve 30-day months. All payments made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Company in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Company will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 2 contracts
Sources: Fifth Supplemental Indenture (MDC Partners Inc), Credit Agreement (MDC Partners Inc)
Interest. ArcelorMittal(a) Clear Channel Worldwide Holdings, Inc., a société anonyme organized under Luxembourg law will Nevada corporation (the “Issuer”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this 2017 A Note at 6.759.25% per annum from March 7December 23, 2011 20092 until Maturity. Interest will be subject maturity and shall pay the Special Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture 2017 A Registration Rights Agreement referred to below. The Company will Issuer shall pay interest and Additional AmountsSpecial Interest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities will 2017 A Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the 2017 A Notes; it was most recently paid shall pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable grace periods) from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the 2017 A Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.
(b) Prior to the Issue Date, the Issuer shall have caused the Trustee to establish an account (the “Interest PeriodTrustee Account”)) to be maintained by the Trustee for the benefit of the Holders with respect to payments of interest on the 2017 A Notes, over which the Trustee shall have sole control and dominion. Interest on the Securities 2017 A Notes will accrue, and be calculated in accordance with Section 3.10 payable by or on behalf of the Indenture. Interest Issuer to the Trustee, daily; provided that the failure by the Issuer to make or have made any such daily payment to the Trustee on any day will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, not constitute a Default so long as the case may be, until the earlier of (a) (x) no payment or other transfer by the Company or any of its Restricted Subsidiaries shall have been made on such day under the Cash Management Arrangements or (y) the amount of funds on deposit in the Trustee Account on such day is equal to the amount of interest which all sums due in respect of such Securities has accrued up to that and including such day are received by the relevant Holder or and (b) on each Interest Payment Date the day falling seven days after aggregate amount of funds deposited in the Trustee has notified Account is sufficient to pay the aggregate amount of interest on the 2017 A Notes that is payable by the Trustee to Holders of receipt 2017 A Notes on such Interest Payment Date; provided further, however, that payments of all sums due in respect of the such Securities up interest shall only be deemed to that seventh day, except be overdue to the extent that there is failure the aggregate amount of funds deposited in the subsequent payment Trustee Account is not sufficient to pay the aggregate amount of interest on the 2017 A Notes that is payable by the Trustee to Holders on the applicable Interest Payment Date. The Issuer or any Guarantor will not be the legal owners of the funds on deposit in the Trustee Account. Such amounts may be in cash in U.S. dollars, in Government Securities or in a combination thereof. Any interest earned on Government Securities held in the Trustee Account will be applied to pay fees and expenses of the Trustee and, to the relevant Holders following such notification.extent of any excess, returned to the Company. Upon the making by or on behalf of the Issuer of any payment into the Trustee Account, the Issuer’s obligation to pay accrued interest shall be discharged to the extent of the amount so paid. If the Trustee fails to make an interest payment on the 2017 A Notes but the Issuer has deposited the funds with the Trustee, it will not be a Default. 2 With respect to the Initial Notes
Appears in 2 contracts
Sources: Indenture (Clear Channel Outdoor Holdings, Inc.), Indenture (Clear Channel Communications Inc)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay (a) Each Debenture shall bear interest on at the Coupon Rate from the original date of issuance until the principal amount thereof becomes due and payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the US $1,000,000,000 Securities at 6.75% per annum from March 7Coupon Rate, 2011 until Maturity. Interest will be compounded quarterly, payable (subject to adjustment in accordance with the provisions of Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually IV) quarterly in arrears on March 1 31, June 30, September 30 and September 1 December 31 of each year (each each, an "Interest Payment Date) ," commencing on September 1March 31, 20112001), to the Holders of Securities Person in whose name such Debenture or any Predecessor Debenture is registered as such as of at the close of business on February 15 and August 15, immediately the Regular Record Date next preceding the relevant such Interest Payment Date.
(b) The amount of interest payable for any period shall be computed on the basis of a 360-day year of twelve 30-day months. If an Interest Payment Date or Any change in the maturity Coupon Rate shall be effective on the date of such change for purposes of calculating interest for any period. Except as provided in respect the following sentence, the amount of interest payable for any period shorter than a full quarterly period for which interest is computed, shall be computed on the basis of the Securities actual number of days elapsed in such period, based on a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the Debentures is not a Business Day in the Place Day, then payment of Payment, we will pay interest or principal, as the case may be, payable on such date shall be made on the next succeeding day which is a Business Day. Payments postponed to Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next Business Day in this situation will succeeding calendar year, such payment shall be treated under this Indenture as if they were made on the original due date. Postponement immediately preceding Business Day (and without any reduction of this kind will not result in a default under the Securities interest or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, any other payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalany such acceleration), in which each case interest will continue to accrue with the same force and effect as if made on the Securities date such payment was originally payable.
(c) If, at any time while the rates set forth aboveProperty Trustee is the holder of any Debentures, as the case may beTrust or the Property Trustee is required to pay any income or other taxes, until the earlier duties, assessments or governmental charges of whatever nature (aother than withholding taxes) the day on which all sums due in respect of such Securities up to that day are received imposed by the relevant Holder United States, or any other taxing authority, then, in any case, the Corporation shall pay as additional interest (b"Additional Interest") on the day falling seven days Debentures held by the Property Trustee, such additional amounts as shall be required so that the net amounts received and retained by the Trust and the Property Trustee after the Trustee has notified the Holders of receipt of all sums due in respect of the paying such Securities up to that seventh daytaxes, except duties, assessments or other governmental charges shall be equal to the extent that there is failure in amounts the subsequent payment to Trust and the relevant Holders following Property Trustee would have received had no such notificationtaxes, duties, assessments or other governmental charges been imposed.
Appears in 2 contracts
Sources: Indenture (American Community Bancshares Inc), Indenture (Carolina Bank Holdings Inc)
Interest. ArcelorMittalConnect ▇▇▇▇▇ SARL, a private limited liability company (société anonyme à responsabilité limitée) incorporated under the laws of Luxembourg, having its registered office at ▇-▇, ▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇, ▇-▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Grand Duchy of Luxembourg, registered with the Luxembourg Register of Commerce and Companies (R.C.S. Luxembourg) under number B 233109, and a Wholly Owned Subsidiary of the Company (the “Luxembourg Issuer”), and Connect U.S. ▇▇▇▇▇ LLC, a limited liability company organized and existing under the laws of the State of Delaware and a Wholly Owned Subsidiary of the Company (the “U.S. Issuer,” together with the Luxembourg law will Issuer, the “Issuers”), promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.756.750% per annum from March October 7, 2011 2019 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March April 1 and September October 1 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, an “Interest Payment Date”) and no interest will shall accrue on such payment as the postponed amount from result of the original due date to the next day that is a Business Daydelay. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid of issuance; provided, that the first Interest Payment Date shall be April 1, 2020. The Issuers will pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, an “Interest Period”). Interest if any, from time to time on demand at the interest rate on the Securities will be calculated Notes; it shall pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Indentureinterest rate on the Notes. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year comprised of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 2 contracts
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Corporation (the “Issuer”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum described above. Cash interest on the Notes will accrue from March 7the most recent date to which interest has been paid; or, 2011 until Maturityif no interest has been paid, from and including July 22, 2010. Interest on this Note will be paid to but excluding the relevant Interest Payment Date or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. Interest will be subject payable to adjustment in accordance with Article III the Holder of record on the Fourth Supplemental Indenture referred Regular Record Date, provided, however, interest payable on the Stated Maturity will be paid to belowthe person to whom the principal will be payable. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) , commencing on September 1January 22, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an any Interest Payment Date or the maturity date in respect Stated Maturity of the Securities Notes is not a Business Day in Day, then the Place related payment of Payment, we will pay interest or principalprincipal payable, as the case may beapplicable, on such date will be paid on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities such Interest Payment Date or this Indenture, Stated Maturity and no further interest will accrue on the postponed amount from the original due date to the next day that is as a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each result of such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenturedelay. Interest will cease to accrue be computed on the Securities basis of a 360-day year consisting of twelve 30-day months. The Issuer shall pay interest on overdue principal from time to time on demand by the due date for their redemption, unless, upon such due date, payment Trustee pursuant to Section 5.3 of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities Base Indenture (defined below) at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received rate borne by the relevant Holder or Notes and on overdue installments of interest (bwithout regard to any applicable grace periods) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 2 contracts
Sources: Second Supplemental Indenture (Schwab Charles Corp), Second Supplemental Indenture (Schwab Charles Corp)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities at 6.75% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment this Security in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest provisions hereof and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture. Interest on the Security shall be computed on the basis of a 360-day year of twelve 30-day months. The interest so payable, semi-annually in arrears and punctually paid or duly provided for, on March 1 and September 1 of each year (each an any Interest Payment Date) commencing on September 1Date will, 2011as provided in the Indenture, be paid to the Holders of Securities Person in whose name this Security (or one or more Predecessor Securities) is registered as such as of at the close of business on February 15 and August 15the Regular Record Date for such interest, immediately preceding which shall be the relevant Interest Payment Date. If an Interest Payment Date June 1 or the maturity date in respect of the Securities is December 1 (whether or not a Business Day (as defined in the Place of Payment, we will pay interest or principalIndenture)), as the case may be, immediately preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for on the next Business Day. Payments postponed any Interest Payment Date will forthwith cease to be payable to the next Business Day Holder on such Regular Record Date by virtue of having been such Holder and may either be paid to the Person in whose name this situation will Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be treated under this Indenture as if they were made on fixed by the original due date. Postponement Trustee, notice whereof shall be given to Holders of Securities of this kind will series not result less than 10 days prior to such Special Record Date, or be paid at any time in a default under any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities or of this Indentureseries may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. So long as no interest will accrue on the postponed amount from the original due date Event of Default with respect to the next day that Securities of this series has occurred and is a Business Day. Interest continuing, the Company may, at its option, defer interest payments on the Securities will accrue from the Closing Date or, if interest has already been paidof this series, from the date it was most recently paid (each such periodtime to time, an “Interest Period”). Interest on the Securities will be calculated as set forth in accordance with Section 3.10 2.4 of the First Supplemental Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 2 contracts
Sources: First Supplemental Indenture (Midamerican Energy Co), First Supplemental Indenture (Sierra Pacific Power Co)
Interest. ArcelorMittalRyerson, Inc., a société anonyme organized under Luxembourg law will Delaware corporation, or its successor (together, “Ryerson”), and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ & Son, Inc., a Delaware corporation, or its successor (together, “Co-Issuer” and, together with Ryerson, the “Issuers”), jointly and severally, promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note (“Notes”) at 6.75a fixed rate of 9% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on March 1 April 15 and September 1 of each year (each an Interest Payment Date) October 15, commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August April 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date 2013 or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities will be calculated Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including October 10, 2012; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after October 10, 2012), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.
Appears in 2 contracts
Sources: Indenture (Ryerson Holding Corp), Indenture (Ryerson International Material Management Services, Inc.)
Interest. ArcelorMittal(a) Clear Channel Worldwide Holdings, Inc., a société anonyme organized under Luxembourg law will Nevada corporation (the “Issuer”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this 2017 B Note at 6.759.25% per annum from March 7December 23, 2011 20092 until Maturity. Interest will be subject maturity and shall pay the Special Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture 2017 B Registration Rights Agreement referred to below. The Company will Issuer shall pay interest and Additional AmountsSpecial Interest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities will 2017 B Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the 2017 B Notes; it was most recently paid shall pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable grace periods) from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the 2017 B Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.
(b) Prior to the Issue Date, the Issuer shall have caused the Trustee to establish an account (the “Interest PeriodTrustee Account”)) to be maintained by the Trustee for the benefit of the Holders with respect to payments of interest on the 2017 B Notes, over which the Trustee shall have sole control and dominion. Interest on the Securities 2017 B Notes will accrue, and be calculated in accordance with Section 3.10 payable by or on behalf of the Indenture. Interest Issuer to the Trustee, daily; provided that the failure by the Issuer to make or have made any such daily payment to the Trustee on any day will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, not constitute a Default so long as the case may be, until the earlier of (a) (x) no payment or other transfer by the Company or any of its Restricted Subsidiaries shall have been made on such day under the Cash Management Arrangements or (y) the amount of funds on deposit in the Trustee Account on such day is equal to the amount of interest which all sums due in respect of such Securities has accrued up to that and including such day are received by the relevant Holder or and (b) on each Interest Payment Date the day falling seven days after aggregate amount of funds deposited in the Trustee has notified Account is sufficient to pay the aggregate amount of interest on the 2017 B Notes that is payable by the Trustee to Holders of receipt 2017 B Notes on such Interest Payment Date; provided further, however, that payments of all sums due in respect of the such Securities up interest shall only be deemed to that seventh day, except be overdue to the extent that there is failure the aggregate amount of funds deposited in the subsequent payment Trustee Account is not sufficient to pay the aggregate amount of interest on the 2017 B Notes that is payable by the Trustee to Holders on the applicable Interest Payment Date. The Issuer or any Guarantor will not be the legal owners of the funds on deposit in the Trustee Account. Such amounts may be in cash in U.S. dollars, in Government Securities or in a combination thereof. Any interest earned on Government Securities held in the Trustee Account will be applied to pay fees and expenses of the Trustee and, to the relevant Holders following such notification.extent of any excess, returned to the Company. Upon the making by or on behalf of the Issuer of any payment into the Trustee Account, the Issuer’s obligation to pay accrued interest shall be discharged to the extent of the amount so paid. If the Trustee fails to make an interest payment on the 2017 B Notes but the Issuer has deposited the funds with the Trustee, it will not be a Default. 2 With respect to the Initial Notes
Appears in 2 contracts
Sources: Indenture (CC Media Holdings Inc), Indenture (Clear Channel Outdoor Holdings, Inc.)
Interest. ArcelorMittalParkland Corporation, a société anonyme organized corporation amalgamated under Luxembourg law will the laws of the Province of Alberta and any successor thereto (“Parkland” or the “Issuer”) promises to pay interest on the principal amount of the US $1,000,000,000 Securities this 3.875% Senior Note due 2026 (a “Note”) at 6.75a fixed rate of 3.875% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, in Canadian dollars (except as otherwise provided herein) semi-annually in arrears on March 1 June 16 and September 1 of December 16 in each year year, commencing on December 16, 2021 (each an “Interest Payment Date”) commencing on September 1, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will shall accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid, or, if no interest has already been paid, from and including the date of issuance to, but excluding, the next interest payment date. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the Notes to the extent lawful; it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue instalments of interest (without regard to any applicable grace period), an “Interest Period”)at the same rate to the extent lawful. Interest on the Securities Notes shall be payable in equal semi-annual amounts; provided that for any Interest Period that is shorter than a full semi-annual interest period, interest shall be computed on the basis of a year of 365 days or 366 days, as applicable, and the actual number of days elapsed in the relevant period and will accrue from day to day. For purposes of disclosure under the Interest Act (Canada), whenever interest is calculated under this Note on the basis of a year which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be calculated expressed as an annual rate by multiplying such rate of interest by a fraction, the numerator of which is the actual number of days in accordance with Section 3.10 such calendar year, and the denominator of which is the number of days in the deemed year. Interest hereon shall be payable by cheque mailed by prepaid ordinary mail or by electronic transfer of funds to the registered holder hereof and, subject to the provisions of the Indenture. Interest will cease to accrue on , the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect mailing of such Securities up to that day are received by cheque or the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders electronic transfer of receipt of all sums due in respect of the such Securities up to that seventh dayfunds shall, except to the extent that there is failure in of the subsequent payment to sum represented thereby (plus the relevant Holders following such notificationamount of any taxes deducted or withheld), satisfy and discharge all liability for interest on this Note.
Appears in 1 contract
Sources: Trust Indenture (Sunoco LP)
Interest. ArcelorMittalExcept as provided below, this Security shall bear interest at a société anonyme organized under Luxembourg law will pay interest on the principal amount rate of the US $1,000,000,000 Securities at 6.753 7/8% per annum from March 7, 2011 until Maturity. Interest will be year subject to adjustment in accordance with Article III of an Upward Interest Adjustment (as described below) from November 27, 2001 or from the Fourth Supplemental Indenture referred most recent Interest Payment Date (as defined below) to below. The Company will pay interest and Additional Amountswhich payment has been paid or duly provided for, if any, pursuant to Section 10.11 of the Indenture, payable semi-annually in arrears on March 1 May 30 and September 1 November 30 of each year (each an "Interest Payment Date) commencing on September 1"), 2011beginning May 30, 2002, to the Holders of persons in whose names the Securities are registered as such as of at the close of business on February May 15 and August 15, immediately preceding the relevant Interest Payment November 15 (each a "Regular Record Date. If an Interest Payment Date ") (whether or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principalDay), as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. preceding such Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”)Payment Date. Interest on the Securities will be calculated in accordance with Section 3.10 computed on the basis of a 360-day year comprised of twelve 30-day months. Cash interest on Securities converted after a record date, but prior to the Indenture. corresponding Interest Payment Date, will cease be paid to accrue on the Holder of the Securities on the due date for their redemption, unlessRegular Record Date but, upon conversion, the Securities upon surrender must be accompanied by funds equal to the amount of cash interest payable on the principal amount of the Securities so converted. No such payment needs to be made with respect to Securities that will be redeemed after a Regular Record Date and prior to the corresponding Interest Payment Date. If the principal amount of a Security, plus accrued and unpaid interest or any portion thereof, is not paid when due date(whether upon acceleration pursuant to Section 6.2 of the Indenture, upon the date set for payment of principal is improperly withheld the Redemption Price pursuant to Paragraph 5 hereof, upon the date set for payment of the Purchase Price or refused the Change in Control Purchase Price pursuant to Paragraph 6 hereof, or if default is otherwise made upon the Stated Maturity of this Security), then, in respect each such case, the overdue amount shall, to the extent permitted by law, bear interest at a rate of 3 7/8% per year, compounded semi-annually, which interest shall accrue from the date such overdue amount was originally due to the date of payment of principalsuch amount, in which case including interest will continue to accrue thereon, has been made or duly provided for. All such interest shall be payable on the Securities at the rates set forth above, as the case may be, until the earlier demand and shall be based on a 360-day year comprised of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Sources: Indenture (Cendant Corp)
Interest. ArcelorMittalSaxon Capital, Inc., a société anonyme organized under Luxembourg law will Maryland corporation (the “Company”), promises to pay cash interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75rate of 12% per annum from March 7May 4, 2011 2006 until Maturitymaturity. Interest will be The interest rate on the Notes is subject to adjustment in accordance with Article III increase pursuant to the provisions of the Fourth Supplemental Indenture referred to belowRegistration Rights Agreement entered into on the Measurement Date. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March May 1 and September November 1 of each year (each an “Interest Payment Date) commencing on September 1”), 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from and including the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from May 4, 2006; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date it was most recently paid (each such period, an “Interest Period”). Interest referred to on the Securities will face and the next succeeding Interest Payment Date, interest shall accrue from and including such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be calculated November 1, 2006. The Company shall pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Indenturesame rate. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Sources: Indenture (Saxon Capital Inc)
Interest. ArcelorMittalBroadcom Corporation, a société anonyme organized California corporation, and Broadcom Cayman Finance Limited, an exempted company incorporated with limited liability under Luxembourg law will the laws of the Cayman Islands (together, the “Issuers”), promise to pay or cause to be paid interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.752.650% per annum from March 7, 2011 until Maturity. Interest will be subject maturity and shall pay the Additional Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 January 15 and September 1 July 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each of issuance to, but excluding, such periodInterest Payment Date or the Maturity Date, an “Interest Period”). Interest as applicable; provided that, if this Note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , . The Issuers will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace period), at the Indenturesame rate to the extent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year comprised of payment of principal, in which case interest twelve 30-day months. All dollar amounts resulting from this calculation will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except be rounded to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationnearest cent.
Appears in 1 contract
Sources: Indenture (Broadcom Cayman L.P.)
Interest. ArcelorMittalInterest on this Note will be payable, a société anonyme organized under Luxembourg law will pay interest at the rate of 7.5% per annum, semiannually to the holders of record of the Notes at the close of business on the principal amount Regular Record Date immediately preceding each Interest Payment Date (whether or not a Business Day) on each Interest Payment Date, commencing September 15, 2011, even if such Note is canceled after such Regular Record Date and on or before such Interest Payment Date. Interest on this Note will accrue from the most recent date to which interest has been paid on this Note or, if this is an Exchange Note, the Note surrendered in exchange for this Note (or, if there is no existing default in the payment of interest and if this Note is authenticated between a Regular Record Date and the US $1,000,000,000 Securities at 6.75% per annum next Interest Payment Date, from such Interest Payment Date) or, if no interest has been paid, from (x) the date this Note was issued or (y) if this Note is an Initial Note (or an Exchange Note issued in exchange therefor), from March 715, 2011 until Maturity2011. Interest will be subject to adjustment in accordance with Article III computed on the basis of the Fourth Supplemental Indenture referred to belowa 360-day year consisting of twelve 30-day months. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011will, to the extent lawful, pay interest on overdue principal (without regard to any applicable grace periods) at a rate per annum of 7.5%. Interest not paid when due and any interest on principal, premium or interest not paid when due will be paid to the Persons that are Holders of Securities registered as such as of close of business on February 15 and August 15a special record date, immediately which will be the 15th day preceding the relevant Interest Payment Date. If an Interest Payment Date date fixed by the Company for the payment of such interest, whether or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next such day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due At least 15 days before a special record date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest the Company will continue send to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up each Holder and to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified a notice that sets forth the Holders special record date, the payment date and the amount of receipt of all sums due in respect of the such Securities up interest to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationbe paid.
Appears in 1 contract
Sources: Indenture (Sandridge Energy Inc)
Interest. ArcelorMittalBK ▇▇ ▇▇▇ ▇▇▇▇▇ 1 S.à ▇.▇., a private limited liability company (société anonyme organized à responsabilité limitée) incorporated and existing under the laws of Luxembourg, having its registered office at ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇-▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ and registered with the Luxembourg law will Trade and Companies Register under number B252262 (the “Issuer”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75% [5.25]% per annum from March 7April 29, 2011 2021 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuer will pay interest and Additional Amountsinterest, if any, pursuant to Section 10.11 of the Indenturein cash, semi-annually in arrears on March 1 [April 30] and September 1 [October 30] of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation (each, an “Interest Payment Date”), commencing on [October 30], 2021. Each interest period will be treated under this Indenture as if they were made end on (but not include) the original due relevant interest payment date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid of original issuance. The Issuer shall pay interest on overdue principal and interest on the Notes will accrue, including Additional Amounts, if any, at a rate that is 1% higher than the then applicable interest rate on the Notes to the extent lawful. The Issuer will pay interest on overdue installments of interest (each such without regard to any applicable grace period), an “Interest Period”)at the same rate to the extent lawful. Interest will be computed on the Securities basis of a 360-day year comprised of twelve 30-day months. If the Issuer delivers Global Notes to the Trustee for cancellation on a date that is on or after the record date and on or before the corresponding interest payment date, the accrued and unpaid interest up to, but excluding, the redemption date will be calculated paid on the redemption date to the Holder in whose name the Note is registered at the close of business on such record date in accordance with Section 3.10 the applicable procedures of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemptionRelevant Clearing System, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case and no additional interest will continue be payable to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up Holders whose Notes will be subject to that day are received redemption by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationIssuer.
Appears in 1 contract
Interest. ArcelorMittalNavigator Gas Transport PLC, a société anonyme organized an Isle of Man public limited company (such company, and its successors and assigns under Luxembourg law will the Indenture hereinafter referred to, being herein called the "Company"), promises to pay interest on the principal amount of this Security at the US $1,000,000,000 Securities rate per annum shown above [; PROVIDED, HOWEVER, that if a Registration Default (as defined in the Registration Rights Agreement) occurs, additional interest will accrue on this Security at 6.75a rate of 0.50% per annum from March 7, 2011 until Maturity. Interest will be subject and including the date on which any such Registration Default shall occur to adjustment in accordance with Article III of but excluding the Fourth Supplemental Indenture referred to below. date on which all Registration Defaults have been cured] ***/. The Company will pay interest in cash semiannually on June 30 and Additional AmountsDecember 31 of each year, if anycommencing December 31, pursuant to Section 10.11 1997, except that at the option of the IndentureCompany, semi-annually in arrears on March 1 and September 1 of each year (each an any Interest Payment Date) commencing on September 1, 2011Date following the delivery of the first Vessel, to the extent cash available for distribution to Holders of Securities registered as on such as of close of business date is insufficient to pay all accrued and unpaid interest on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in on such date, the Place of Payment, we will Company may pay such interest or principal, as the case may be, on the next Business Day. Payments postponed by issuing additional Securities having an aggregate principal amount equal to the next Business Day in this situation will be treated under this Indenture as if they were made on amount of such deficiency, PROVIDED that the original due date. Postponement Company may not issue more than $20,900,000 aggregate principal amount of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Daysuch additional Securities. Interest on the Securities will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodAugust 7, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture1997. Interest will cease to accrue be computed on the Securities basis of a 360-day year of twelve 30-day months. The Company shall pay interest on overdue principal at the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on rate borne by the Securities plus 1% per annum, and it shall pay interest on overdue installments of interest at the rates set forth above, same rate to the extent lawful. ---------- ***/ Insert if at the time of issuance of the Exchange Security or Private Exchange Security (as the case may be, until ) neither the earlier of (a) Registered Exchange Offer has been consummated nor a Shelf Registration Statement has been declared effective in accordance with the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationRegistration Rights Agreement.
Appears in 1 contract
Interest. ArcelorMittal[The Note will bear no interest.]/
3.1 [Subject to Condition 3.2, the Note will bear interest from the Issue Date at a société anonyme organized under Luxembourg law will pay interest rate of one per cent. (1%) per annum on the principal amount of the US $1,000,000,000 Securities at 6.75% per annum Note outstanding from March 7, 2011 until Maturity. Interest will be subject time to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowtime. The Company will pay interest will, subject as provided herein, be payable by the Issuer once every six (6) months in arrear on 30 June and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 31 December of each year after the Issue Date and before the Maturity Date (each an Interest Payment Date) commencing on September 1, 2011, pro-rata for the actual number of days in case the relevant period is less than six months).
3.2 If the Noteholder has converted any part or the whole of the principal amount of the Note and upon delivery to the Holders Issuer of Securities registered as such as of close of business on February 15 and August 15the Certificate for the Note, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date Noteholder shall be entitled to interest in respect of such part or the Securities is not a Business Day in whole of the Place of Payment, we will pay principal amount being converted for the period from the immediately preceding interest payment date (or principalthe Issue Date, as the case may be) up to and including the Conversion Date concerned.
3.3 Interest shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 365-day year, including the first day of the period during which it accrues and including the last.] {for the Tranche A Note and Tranche B Note respectively}
4.1 Payment of the interest and principal (if any) in respect of the Note shall be made for value on the due dates into such bank account in Hong Kong as the Noteholder may notify the Issuer in writing from time to time. All payments by the Issuer shall be made in Hong Kong dollars in immediately available funds free and clear of any withholding or deduction for any present or future taxes, imposts, levies, duties or other charge payable by the Issuer. If the Issuer is required by law to make any such deduction or withholding from any amount paid (except where such deduction or withholding represents tax on the overall income of 124 the Noteholder), the Issuer shall pay to the Noteholder such additional amount as shall be necessary so that the Noteholder receives an amount equal to the amount which it would have received if such withholding or deduction had not been made.
4.2 All payments by the Issuer hereunder shall be made, not later than 11:00 a.m. (Hong Kong time) on the due date.
4.3 If the due date for payment of any amount in respect of the Note is not a Business Day, the Noteholder will be entitled to payment on the next Business Day. Payments postponed to the next following Business Day in this situation will the same manner together with interest accrued in respect of any such delay.
4.4 The Issuer shall not be treated liable to make any payment in respect of the outstanding principal amount of the Note unless and until the original of the Certificate is presented to the Issuer at its address specified in Condition 16. The Issuer shall retain the original of the Certificate upon the redemption or conversion thereof in full.
4.5 Save as provided under the Conditions, the outstanding principal amount of the Note or any part thereof shall not be repaid or prepaid by the Issuer.
4.6 If the Issuer defaults in the payment of any sum due and payable under this Indenture as if they were made Note, the Issuer shall pay interest on such sum to the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount Noteholder from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid of actual payment in full (each such period, an “Interest Period”). Interest on the Securities will be both before and after judgment) calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier rate of three per cent. (a3%) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationper annum.
Appears in 1 contract
Interest. ArcelorMittalMDC Partners Inc., a société anonyme organized corporation continued under Luxembourg law will the laws of Canada (together with its successors and assigns, the “Company”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September May 1, 2011, to the Holders of Securities registered as 2010; provided that if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from from, and including, the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodfrom, an “Interest Period”). Interest and including, October 23, 2009; provided that if there is no existing Default or Event of Default on the Securities will be calculated payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date (but after October 23, 2009), interest shall accrue from, and including, such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue to shall accrue from, and including, October 23, 2009. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Securities Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the rates set forth above, as then applicable rate on the case may be, until Notes. Interest will be computed on the earlier basis of (a) the a 360-day on which all sums due in respect year of such Securities up to that twelve 30-day are received months. All payments made by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Company in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Company will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 1 contract
Sources: Indenture (MDC Partners Inc)
Interest. ArcelorMittalHyperion Telecommunications, Inc., a société anonyme organized under Luxembourg law will Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Senior Note at the US $1,000,000,000 Securities at 6.75rate of 12-1/4% per annum from August 27, 1997 until maturity (including any additional interest required to be paid pursuant to the provisions of the Registration Rights Agreement) and will be payable semi-annually in cash on September 1 and March 71 of each year, 2011 or if any such day is not a Business Day, on the next succeeding Business Day (each an "Interest Payment Date"); provided that in the event that the Company does not comply with Section 1A(a) and (b) of the Pledge Agreement, the interest rate on the Senior Notes will automatically increase by 0.25% per annum (the "Additional Interest") to 12-1/2% and the Additional Interest shall continue until Maturitysuch time as the Company complies with its obligations under Section 1A of the Pledge Agreement, at which time the Additional Interest shall cease. Interest and Additional Interest, if any, on the Senior Notes will be subject accrue from the most recent date to adjustment which interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in accordance with Article III the payment of the Fourth Supplemental Indenture interest, and if this Senior Note is authenticated between a record date referred to belowon the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, provided, further, that the first Interest Payment Date shall be March 1, 1998. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and Additional Amountspremium, if any, pursuant from time to Section 10.11 time on demand at a rate that is 1% per annum in excess of the Indenture, semi-annually rate then in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we effect; it will pay interest or principal, as (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable grace periods) from time to time on demand at the case may be, on the next Business Day. Payments postponed same rate to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indentureextent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year comprised of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Interest. ArcelorMittalExtraction Oil & Gas Holdings, LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Extraction Finance Corp., a Delaware corporation ((“Finance Corp.” and together with the Company, the “Issuers”) jointly and severally promise to pay interest on the unpaid principal amount of the US $1,000,000,000 Securities this Note at 6.757.875% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company Issuers will pay interest and Additional Amountsinterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 January 15 and September 1 July 15 of each year year, beginning January 15, 2017 (each each, an “Interest Payment Date) commencing ”). Interest on September 1the Notes will accrue from the most recent date to which interest has been paid or, 2011if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the Holders of Securities registered as face hereof and the next succeeding Interest Payment Date, interest shall accrue from such as of close of business on February 15 and August 15, immediately preceding the relevant next succeeding Interest Payment Date. The Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is equal to the then applicable interest rate on the Notes to the extent lawful; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest, if any (without regard to any applicable grace period), from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. If an Interest Payment Date any payment with respect to any principal of, premium, if any, on, or the maturity interest, if any, on any Note (including any payment to be made on any date in respect fixed for redemption or purchase of the Securities any Note) is due on a day which is not a Business Day in Day, then the Place of Paymentpayment need not be made on such date, we will pay interest or principal, as the case but may be, be made on the next Business Day. Payments postponed to Day with the next Business Day in this situation will be treated under this Indenture same force and effect as if they were made on the original due such date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on for the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such intervening period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notification.
Appears in 1 contract
Interest. ArcelorMittal(a) Triumph Group, Inc., a société anonyme organized under Luxembourg law will Delaware corporation, or its successor (together, “Triumph”), promises to pay interest on the principal amount of this Note (the US $1,000,000,000 Securities “Notes”) at 6.75% per annum from March 7, 2011 until Maturitya fixed rate. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company Triumph will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on March June 1 and September 1 December 1, of each year (each an Interest Payment Date) year, commencing on September December 1, 20112014 or, to the Holders of Securities registered as if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities will be calculated Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including June 3, 2014; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after December 1, 2014), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on original issuance of the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. Triumph shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.
Appears in 1 contract
Sources: Indenture (Triumph Group Inc)
Interest. ArcelorMittalInergy, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and Inergy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.756.875% per annum from March 7February 2, 2011 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 2(d) of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March February 1 and September August 1 of each year (each an Interest Payment Date) year, commencing on September August 1, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Inergy L P)
Interest. ArcelorMittalExterran Energy Solutions, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and EES Finance Corp., a Delaware corporation (“Finance Corp.” and, together with the Company, the “Issuers”) jointly and severally promise to pay or cause to be paid interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.758.125% per annum from March 7April 4, 2011 2017 until Maturity. Interest will be subject May 1, 2025 or such earlier date on which the principal of this Note shall have been paid or duly provided for and shall pay the Additional Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March May 1 and September November 1 of each year year, commencing November 1, 2017 (each each, an “Interest Payment Date) commencing on September 1”), 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or duly provided for or, if no interest has already been paidpaid or duly provided for, from April 4, 2017; provided that, if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date it was most recently paid (each such period, an “Interest Period”). Interest referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Issuers will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the then applicable interest rate on the Notes to the extent lawful; and they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), from time to time on demand at the Indenturesame rate to the extent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year comprised of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Sources: Indenture (Exterran Corp)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Issuers promise to pay interest on the principal amount of this Note until maturity. At the US $1,000,000,000 Securities election of the Issuers (made by delivering a notice to the Trustee not later than the close of business on the June 1 or December 1 next preceding the Interest Payment Date, interest shall be payable (x) in cash at 6.75a rate of 10.0% per annum from March 7the Issue Date to [_______], 2011 until Maturity2014 and 12.0% per annum from and including [______],2014 (“Cash Interest”) or (y) at a rate of 12.0% per annum from the Issue Date to [_______], 2014 and 14.0% per annum from and including [______],2014 by increasing the principal amount of the outstanding Notes or by issuing additional PIK Notes (“PIK Interest”); provided that, notwithstanding the foregoing, the Issuers may not elect to pay interest in kind for any interest period with respect to which the Issuers would be permitted to pay such interest in cash pursuant to the terms of the Credit Agreement. Interest Following an increase in the principal amount of the outstanding Global Notes as a result of a PIK Payment, the Notes will bear interest on such increased principal amount from and after the date of such PIK Payment. Any PIK Notes issued in certificated form will be dated as of the applicable interest payment date and will bear interest from and after such date. All Notes issued pursuant to a PIK Payment will be governed by, and subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowterms, provisions and conditions of, the indenture and shall have the same rights and benefits as the Notes issued on the Issue Date. The Company will Issuers shall pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 [June 15 and September 1 December 15] of each year year, or if any such day is not a Business Day, on the next succeeding Business Day (each each, an “Interest Payment Date”); provided that if the maturity date of this Note is not on an Interest Payment Date) commencing , the Issuers shall pay all accrued and unpaid interest on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such period, an “next succeeding Interest Period”)Payment Date; provided further that the first Interest Payment Date shall be [June 15,] 2013. Interest shall be computed on the Securities will be calculated in accordance with Section 3.10 basis of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment a 360-day year of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Interest. ArcelorMittal▇▇▇▇▇▇ Midstream Partners L.P., a société anonyme organized under Luxembourg law will Delaware limited liability company (the ”Company”), and ▇▇▇▇▇▇ Midstream Finance Corp., a Delaware corporation (the ”Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the unpaid principal amount of the US $1,000,000,000 Securities this Note at 6.75% 7 ¼% per annum from March 7, 2011 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15 of each year, commencing August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date 2013, and at maturity or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities Notes will be calculated accrue from the most recent date to which interest has been paid or, if no interest has been paid, from February 11, 2013; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.753.750% per annum from March 7the date provided below until maturity and shall pay the additional interest, 2011 until Maturityif any, in the applicable amount set forth in and pursuant to the terms and provisions of Section 2(d) of the Registration Rights Agreement referred to below (“Additional Interest”). Interest will be subject Promptly after any change in the interest rate payable on this Note as provided in Section 2(d) of the Registration Rights Agreement, the Company shall provide the Trustee an Officers’ Certificate to adjustment the effect that the interest rate payable on the Note has changed in accordance with Article III such section and setting forth the new interest rate payable on the Note and the effective date of such change, and shall provide notice of the Fourth Supplemental Indenture referred same to belowHolders. The Trustee shall not be responsible for monitoring whether Additional Interest is payable pursuant to Section 2(d) of the Registration Rights Agreement. The Company will shall pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually annually, in arrears arrears, on March 1 May 20 and September 1 November 20 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next succeeding Business Day (each an “Interest Payment Date”), except that, if the maturity date of the Note falls on a day that is not a Business Day. Payments postponed to , the next Company will make the required payment of interest and principal on the immediately succeeding Business Day in this situation will be treated under this Indenture Day, as if they it were made on the original date the payment was due. This Note has been issued in exchange for a like aggregate principal amount of the 3.750% Senior Notes due date. Postponement of this kind will not result in a default under 2023 originally issued by ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Company (the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day“Lorillard Tobacco Notes”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date on which interest has been paid on the Lorillard Tobacco Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance of the Lorillard Tobacco Notes. The first Interest Payment Date shall be November 20, an “Interest Period”)2015. Interest shall be computed on the Securities basis of a 360-day year of twelve 30-day months. Interest will be calculated not accrue as a result of any postponed or delayed payment in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationthis paragraph.
Appears in 1 contract
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest in cash on the principal amount Principal Amount at Maturity of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum of 1.425% from March 7the Issue Date, 2011 or from the most recent date to which interest has been paid or provided for, until MaturityMay 14, 2007. Interest will be subject to adjustment in accordance with Article III of During such period, the Fourth Supplemental Indenture referred to below. The Company will pay cash interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 May 14 and September 1 November 14 of each year (each an "Interest Payment Date") commencing on September 1, 2011, to the Holders of Securities registered as such as of record at the close of business on February 15 each April 29 and August 15, October 30 (whether or not a business day) (each a "Regular Record Date") immediately preceding the relevant such Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay Cash interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date most recent date to which interest has been paid or duly provided or, if no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”)Issue Date. Interest Cash interest will be computed on the Securities will be calculated basis of a 360-day year of twelve 30-day months. After May 14, 2007, this Security shall not bear interest, except as specified in this paragraph or in paragraph 11 hereof. If the Principal Amount at Maturity hereof or any portion of such Principal Amount at Maturity is not paid when due (whether upon acceleration pursuant to Section 6.02 of the Indenture, upon the date set for payment of the Redemption Price pursuant to paragraph 6 hereof, upon the date set for payment of the Purchase Price or Change in Control Purchase Price pursuant to paragraph 7 hereof or upon the Stated Maturity of this Security) or if installments of cash interest are not paid when due in accordance with Section 3.10 of paragraph 11 hereof, then in each such case the Indenture. Interest will cease to accrue on the Securities on the due date for their redemptionoverdue amount shall, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure permitted by law, bear interest at the rate of 3% per annum, compounded semiannually, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand. The accrual of such interest on overdue amounts shall be in lieu of, and not in addition to, the continued accrual of Original Issue Discount or cash interest. Original Issue Discount (the difference between the Issue Price and the Principal Amount at Maturity of the Security), in the subsequent payment to period during which a Security remains outstanding, shall accrue at 3.00% per annum, on a semiannual bond equivalent basis using a 360-day year composed of twelve 30-day months, from the relevant Holders following such notificationIssue Date of this Security.
Appears in 1 contract
Interest. ArcelorMittalGenesis Energy, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and Genesis Energy Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.758.000% per annum from March 7, 2011 _______________ until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amountsinterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 May 15 and September 1 November 15 of each year (each an “Interest Payment Date) ”), commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August May 15, immediately preceding the relevant Interest Payment Date2025. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Interest. ArcelorMittalAmerican Tower Corporation, a société anonyme organized under Luxembourg law will Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company will pay interest and Additional Amountsinterest, payable annually in arrears, on May 30 of each year, with the first payment to be made on May 30, 2026 (except that, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case then payment may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will shall accrue on for the postponed amount from the original due date to the next day that is a Business Dayperiod after such date). Interest on the Securities will accrue from on the Closing Date principal amount from, and including, the most recent date to which interest has been paid or provided for or, if no interest has already been paid, from from, and including, May 30, 2025 in each case to, but excluding, the date it was most recently paid (each such period, an “next Interest Period”). Interest on Payment Date or the Securities will be calculated in accordance with Section 3.10 of Stated Maturity for the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth aboveSecurities, as the case may be; provided that if there is no existing Default in the payment of interest, until the earlier of Company shall pay interest (aincluding post-petition interest in any proceeding under any Bankruptcy Law) the day on which all sums due overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect excess of the such Securities up rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to that seventh day, except any applicable grace periods) from time to time on demand at the same rate to the extent that there is failure lawful. Interest shall be computed on the basis of the actual number of days in the subsequent period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Securities (or May 30, 2025 if no interest has been paid on the Securities), to but excluding the next scheduled Interest Payment Date. This payment convention is referred to as ACTUAL/ACTUAL (ICMA) as defined in the relevant Holders following such notificationrulebook of the International Capital Market Association.
Appears in 1 contract
Interest. ArcelorMittalOrganon & Co., a société anonyme organized Delaware corporation, as Issuer, and Organon Foreign Debt Co-Issuer B.V., a private limited liability company incorporated under Luxembourg law will the laws of the Netherlands (besloten vennootschap met beperkte aansprakelijkheid) having its official seat (statutaire zetel) in Oss, The Netherlands, having its registered office at ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇ ▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, and registered with the trade register of the Dutch Chamber of Commerce (▇▇▇▇▇ van Koophandel) under number 82563098, as Co-Issuer, promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75% a rate per annum set forth below from March 7[May 17, 2011 2024]5 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, on this Note semi-annually in arrears on March 1 May 15 and September 1 November 15 of each year year, commencing on November 15, 20246 (each each, an “Interest Payment Date) commencing on September 1”), 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next succeeding Business Day. Payments postponed The Issuers will make each interest payment to the next Business Day in Holder of record of this situation will be treated under this Indenture as if they were made Note on the original due date. Postponement of this kind will not result in immediately preceding May 1 and November 1 (each, a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodRecord Date”). Interest on this Note will accrue from the Securities most recent date to which interest has been paid or, if no interest has been paid, from and including May 17, 2024. The Issuers will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate then applicable to this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Indenturerate then applicable to this Note. Interest will cease to accrue be computed on the Securities basis of a 360-day year comprised of twelve 30-day months. Interest on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest this Note will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier rate of (a) the day on which all sums due 6.750% per annum and be payable in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationcash.
Appears in 1 contract
Sources: Indenture (Organon & Co.)
Interest. ArcelorMittalWideOpenWest Finance, LLC, a société anonyme organized Delaware limited liability company (such limited liability company, and its successors and assigns under Luxembourg law will the Indenture hereinafter referred to, being herein called the “Company”), and WideOpenWest Capital Corp., a Delaware corporation (such corporation, and its successors and assigns under the Indenture hereinafter referred to, being herein called “Finance” and, together with the Company, the “Issuers”), promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.7513.375% per annum from March 7July 17, 2011 2012 until Maturity. Interest will be subject maturity and shall pay Additional Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 every January 15 and September 1 July 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance; provided, that the first Interest Payment Date shall be January 15, 2013. The Issuers shall pay interest on overdue principal at the rate specified herein, and it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (including Additional Interest) (without regard to any applicable grace period, an “Interest Period”)) at the same rate to the extent lawful. Interest on the Securities Notes will be calculated in accordance with Section 3.10 computed on the basis of a 360-day year comprised of twelve 30-day months. In addition to the rights provided to Holders of the Notes under the Indenture. Interest will cease to accrue , Holders of Notes shall have all rights set forth in the Registration Rights Agreement, dated as of July 17, 2012, among the Issuers, the Guarantors named therein and the other parties named on the Securities on signature pages thereto (the due date for their redemption“Registration Rights Agreement”), unlessincluding the right to receive Additional Interest in certain circumstances. If applicable, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalAdditional Interest shall be paid to the same Persons, in which case interest will continue to accrue on the Securities same manner and at the rates set forth above, same times as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationregular interest.
Appears in 1 contract
Interest. ArcelorMittalThe Company promises to pay interest on the unpaid principal amount of this Note at the rate and in the manner specified below. The Company shall pay, a société anonyme organized under Luxembourg law will pay in cash, interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7of 10.5%; provided, 2011 until Maturityhowever, that subject to the last two sentences of this paragraph on each Interest Payment Date, the Company may, at its option and in its sole discretion, in lieu of the payment of interest due in cash on this Note, pay interest on this Note through the issuance of Additional Notes in an aggregate principal amount equal to the amount of interest that would be payable with respect to this Note, if such interest were paid in cash. The Company shall notify the Holders in writing of its election to pay interest on this Note through the issuance of Additional Notes not less than 10 nor more than 45 days prior to the record date for the Interest Payment Date on which Additional Notes will be issued. Additional Notes shall be governed by, and entitled to the benefits of, the Agreement and shall be subject to adjustment in accordance with Article III the terms of the Fourth Supplemental Indenture referred to below. The Company will pay interest Agreement and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, shall be subject to the Holders of Securities registered same terms (including the Interest Rate from time to time payable thereon) as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principalthis Note (except, as the case may be, with respect to the issuance date and aggregate principal amount). The Company will pay interest semiannually in arrears on March 31 and September 30 of each year (each an "Interest Payment Date"), commencing March 31, 1999, or if any such day is not a business day on the next Business Daysucceeding business day. Payments postponed to the next Business Day in this situation Interest will be treated under this Indenture as if they were made computed on the original due date. Postponement basis of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next 360-day that is a Business Dayyear consisting of twelve 30-day months. Interest on the Securities will shall accrue from the Closing most recent Interest Payment Exhibit A --------- Page 2 ------ Date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof the original issuance of the Notes. To the extent lawful, an “Interest Period”). Interest the Company shall pay interest on overdue principal at the rate of 2% per annum in excess of the then applicable interest rate on the Securities will be calculated in accordance with Section 3.10 Notes; it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) at the Indenturesame rate to the extent lawful. Interest will cease to accrue on In the Securities on event that the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made Company elects in respect of payment any Interest Payment Date to pay interest through the issuance of principalAdditional Notes, interest on this Note shall be paid in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due Additional Notes. Interest in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days this Note will be payable initially in Additional Notes. If at any time after the Trustee has notified Closing Date, the Holders of receipt of all sums due Company elects to pay interest in respect of the such Securities up Notes in cash, the Company may thereafter subsequently elect, in accordance with this paragraph, to pay interest on the Notes in whole, but not in part, in Additional Notes (a "Subsequent PIK Election"); provided that seventh day, except the Company shall -------- not be entitled to make more than three Subsequent PIK Elections with respect to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationNotes.
Appears in 1 contract
Sources: Note Agreement (Specialty Products & Insulation Co)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Issuer promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75rate of 8.50% per annum from March 7the date of original issuance until Maturity and shall pay the Additional Interest, 2011 until Maturity. Interest will be subject if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuer will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 April 30 and September 1 October 30 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that if there is no existing Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will face hereof and the next succeeding Interest Payment Date, interest and Additional Interest, if any, shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date with respect to a Note issued on the Issue Date shall be calculated April 30, 2016. The Issuer shall pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue payments of the Indentureprincipal or Redemption Price of this Note from time to time on demand at a rate equal to the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) hereon from time to time on demand at the same rate to the extent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Sources: Indenture (CIFC Corp.)
Interest. ArcelorMittalBroadcom Corporation, a société anonyme organized California corporation, and Broadcom Cayman Finance Limited, an exempted company incorporated with limited liability under Luxembourg law will the laws of the Cayman Islands (together, the “Issuers”), promise to pay or cause to be paid interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.753.875% per annum from March 7, 2011 until Maturity. Interest will be subject maturity and shall pay the Additional Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 January 15 and September 1 July 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each of issuance to, but excluding, such periodInterest Payment Date or the Maturity Date, an “Interest Period”). Interest as applicable; provided that, if this Note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , . The Issuers will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace period), at the Indenturesame rate to the extent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year comprised of payment of principal, in which case interest twelve 30-day months. All dollar amounts resulting from this calculation will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except be rounded to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationnearest cent.
Appears in 1 contract
Sources: Indenture (Broadcom LTD)
Interest. ArcelorMittalParkland Corporation, a société anonyme organized corporation amalgamated under Luxembourg law will the laws of the Province of Alberta and any successor thereto (“Parkland” or the “Issuer”) promises to pay interest on the principal amount of the US $1,000,000,000 Securities this 6.00% Senior Note due 2028 (a “Note”) at 6.75a fixed rate of 6.00% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, in Canadian dollars (except as otherwise provided herein) semi-annually in arrears on March 1 June 23 and September 1 of December 23 in each year year, commencing on December 23, 2020 (each an “Interest Payment Date”) commencing on September 1, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will shall accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid, or, if no interest has already been paid, from and including the date of issuance to, but excluding, the next interest payment date. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to the then applicable interest rate on the Notes to the extent lawful; it was most recently paid shall pay interest (each such including post-petition interest in any proceeding under any Bankruptcy Law) on overdue instalments of interest (without regard to any applicable grace period), an “Interest Period”)at the same rate to the extent lawful. Interest on the Securities Notes shall be payable in equal semi-annual amounts; provided that for any Interest Period that is shorter than a full semi-annual interest period, interest shall be computed on the basis of a year of 365 days or 366 days, as applicable, and the actual number of days elapsed in the relevant period and will accrue from day to day. For purposes of disclosure under the Interest Act (Canada), whenever interest is calculated under this Note on the basis of a year which contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest shall be calculated expressed as an annual rate by multiplying such rate of interest by a fraction, the numerator of which is the actual number of days in accordance with Section 3.10 such calendar year, and the denominator of which is the number of days in the deemed year. Interest hereon shall be payable by cheque mailed by prepaid ordinary mail or by electronic transfer of funds to the registered holder hereof and, subject to the provisions of the Indenture. Interest will cease to accrue on , the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect mailing of such Securities up to that day are received by cheque or the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders electronic transfer of receipt of all sums due in respect of the such Securities up to that seventh dayfunds shall, except to the extent that there is failure in of the subsequent payment to sum represented thereby (plus the relevant Holders following such notificationamount of any taxes deducted or withheld), satisfy and discharge all liability for interest on this Note.
Appears in 1 contract
Sources: Trust Indenture (Sunoco LP)
Interest. ArcelorMittal(a) Clear Channel Worldwide Holdings, Inc., a société anonyme organized under Luxembourg law will Nevada corporation (the “Issuer”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Series A Note at 6.757.625% per annum from March 715, 2011 20122 until Maturity. Interest will be subject maturity and shall pay the Special Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Series A Registration Rights Agreement referred to below. The Company will Issuer shall pay interest and Additional AmountsSpecial Interest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 15 and September 1 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities will Series A Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the Series A Notes; it was most recently paid shall pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, if any, (without regard to any applicable grace periods) from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the Series A Notes. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.
(b) Not later than the Issue Date, the Issuer will cause the Trustee to establish an account (the “Interest PeriodTrustee Account”)) to be maintained by the Trustee for the benefit of the Holders with respect to payments of interest on the Series A Notes, over which the Trustee shall have sole control and dominion. Interest on the Securities Series A Notes will accrue, and be calculated in accordance with Section 3.10 payable by or on behalf of the Indenture. Interest will cease Issuer to accrue the Trustee, weekly in arrears on the Securities last Business Day of each week; provided that the failure by the Issuer to make or have made any such weekly payment to the Trustee on the due date for their redemption, unless, upon such due date, last Business Day of the applicable week will not constitute a Default so long as (a) (x) no payment or other transfer by the Company or any of principal is improperly withheld or refused or if default is otherwise its Restricted Subsidiaries shall have been made during the applicable week in respect of which such payment was due and payable under the Cash Management Arrangements or (y) the amount of principal, funds on deposit in which case interest will continue to accrue the Trustee Account on the Securities at last Business Day of the rates set forth above, as applicable week is equal to the case may be, until amount of interest which has accrued up to and including the earlier of (a) the day on which all sums due in respect last Business Day of such Securities up to that day are received by the relevant Holder or week and (b) on each Interest Payment Date the day falling seven days after aggregate amount of funds deposited in the Trustee has notified Account is sufficient to pay the aggregate amount of interest on the Series A Notes that is payable by the Trustee to the Holders of receipt the Series A Notes on such Interest Payment Date; provided further, however, that payments of all sums due in respect of the such Securities up interest shall only be deemed to that seventh day, except be overdue to the extent that there is failure the aggregate amount of funds deposited in the subsequent payment Trustee Account is not sufficient to pay the aggregate amount of interest on the Series A Notes that is payable by the Trustee to Holders on the applicable Interest Payment Date. The Issuer or any Guarantor will not be the legal owners of the funds on deposit in the Trustee Account. Such amounts may be in cash in U.S. dollars, in Government Securities or in a combination thereof. Any interest earned on Government Securities held in the Trustee Account will be applied to pay fees and expenses of the Trustee and, to the relevant Holders following such notification.extent of any excess, returned to the Company. Upon the making by or on behalf of the Issuer of any payment into the Trustee Account, the Issuer’s obligation to pay accrued interest shall be discharged to the extent of the amount so paid. If the Trustee fails to make an interest payment on the Series A Notes but the Issuer has deposited the funds with the Trustee, it will not be a Default. 2 With respect to the Initial Notes
Appears in 1 contract
Interest. ArcelorMittalEndeavour International Corporation, a société anonyme organized under Luxembourg law will Delaware corporation (the “Company”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.759.75% per annum from March 7[•], 2011 2015 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 [ ] and September 1 [ ] of each year (each an “Interest Payment Date) ”), commencing on September 1[ ], 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date2015. If an Interest Payment Date any date for payment of interest or principal on the maturity date in respect of the Securities Notes falls on a day that is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case such payment may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the due date, and no additional interest will accrue solely as a result of such delayed payment. Any applicable grace period shall run from the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Company shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, if any, from time to accrue time on demand at a rate that is 1% higher than the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest from time to time on demand at the rates set forth abovesame rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. PIK Interest on this Note will be payable by increasing the principal amount of this Note by an amount equal to the amount of PIK Interest for the applicable interest period (rounded up to the nearest whole dollar) (or, as if necessary, pursuant to the case may berequirements of the depositary or otherwise, until to authenticate new Global Notes executed by the earlier of (a) Company with such increased principal amounts). In the day on which all sums due event the Company elects to pay Partial PIK Interest for any interest period, each Holder will be entitled to receive Cash Interest in respect of 50% of the principal amount of the Notes held by such Securities up to that day are received by Holder on the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due record date and PIK interest in respect of 50% of the principal amount of the Notes held by such Securities up to that seventh day, except to Holder on the extent that there is failure relevant record date. Following an increase in the subsequent payment to principal amount of this Note as a result of a PIK Payment, this Note will bear interest on such increased principal amount from and after the relevant Holders following date of such notificationPIK Payment.
Appears in 1 contract
Interest. ArcelorMittal(a) The Mohegan Tribal Gaming Authority (the "Authority"), a société anonyme organized under Luxembourg law will promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Senior Note at 6.758 1/8% per annum from March 73, 2011 1999 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Authority will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March January 1 and September July 1 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an "Interest Payment Date"). Interest on the Securities Senior Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Senior Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be July 1, 1999. The Authority shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it was most recently paid shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
(b) The Holder of this Senior Note is entitled to the benefits of the Senior Registration Rights Agreement dated as of the date hereof, among the Authority and the Initial Purchasers named therein (the "Senior Registration Rights Agreement"). If (i) the Authority fails to file any of the Registration Statements required by the Registration Rights Agreements on or before the date specified for such filing, (ii) any of such Registration Statements is not declared effective by the Commission on or prior to the date specified for such effectiveness (the "Effectiveness Target Date"), (iii) the Authority fails to consummate the Exchange Offer within 30 business days of the Effectiveness Target Date with respect to the Exchange Offer Registration Statement, or (iv) the Shelf Registration Statement or the Exchange Offer Registration Statement is declared effective but thereafter ceases to be effective or usable in connection with resales of Transfer Restricted Securities during the periods specified in the Registration Rights Agreement (each such periodevent referred to in clauses (i) through (iv) above a "Registration Default"), an “then the Authority will pay Additional Interest Period”). Interest on to each Holder of Senior Notes, with respect to the Securities will be calculated in accordance with Section 3.10 first 90-day period immediately following the occurrence of the Indenturefirst Registration Default in an amount equal to 25 basis points per 90-day period of the principal amount of Senior Notes held by such Holder. The amount of the Additional Interest will cease increase by an additional 25 basis points with respect to accrue each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of Additional Interest of 1% per annum of the principal amount of Senior Notes.
(A) Except as expressly provided in this paragraph 1(b), Additional Interest shall be treated as interest and any date on which Additional Interest is due and payable shall be treated as an Interest Payment Date for all purposes under this Senior Note and the Securities on Indenture.
(B) In the due date for their redemptionevent that the Authority is required to pay Additional Interest pursuant to this paragraph 1(b), unless, the Authority shall notify the Trustee in writing at least 15 days prior to the first Interest Payment Date upon which such due date, payment of principal Additional Interest is improperly withheld or refused or if default is otherwise made in respect of payment of principaldue; provided that, in which case interest will continue the event that the obligation to accrue on the Securities at the rates set forth abovepay such Additional Interest occurs less than 15 days prior to such Additional Interest Date, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received notice shall be provided by the relevant Holder or (b) the day falling seven days after Authority to the Trustee has notified the Holders of receipt of all sums due in respect of the as soon as reasonably practicable prior to such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationInterest Payment Date.
Appears in 1 contract
Sources: Senior Registration Rights Agreement (Mohegan Tribal Gaming Authority)
Interest. ArcelorMittalCalumet Specialty Products Partners, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and Calumet Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the unpaid principal amount of the US $1,000,000,000 Securities this Note at 6.756.50% per annum from March 7, 2011 until Maturity. and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 2 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 April 15 and September 1 October 15 of each year (each an Interest Payment Date) year, commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August October 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date 2014, or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Calumet Specialty Products Partners, L.P.)
Interest. ArcelorMittal, This Note shall bear interest at a société anonyme organized under Luxembourg law will pay interest rate of 4.25% per year on the principal amount of Principal hereof, from November 15, 2006 or from the US $1,000,000,000 Securities at 6.75% per annum from March 7most recent Interest Payment Date (as defined below) to which payment has been paid or duly provided for, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually payable semiannually in arrears on March 15 and September 15 of each year, beginning March 15, 2007 (each an “Interest Payment Date”) to the persons in whose names the Notes are registered at the close of business on March 1 and September 1 of each year (each an Interest Payment a “Regular Record Date”) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date (whether or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principalDay), as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayimmediately preceding such Interest Payment Date. Interest on the Securities Notes will accrue from be computed on the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”)basis of a 360-day year comprised of twelve 30-day months. Interest on Notes converted after the Securities close of business on a Regular Record Date, but prior to the opening of business on the corresponding Interest Payment Date, will be calculated paid to the Holder on the Regular Record Date but, upon conversion, the Holder must pay the Company the interest which has accrued and will be paid to the Holder on such Interest Payment Date. No such payment need be made with respect to Notes in respect of which a Redemption Date has been declared that falls within such period or on such Interest Payment Date. If the Principal hereof or any portion of such Principal is not paid when due (whether upon acceleration, upon the date set for payment of the Redemption Price pursuant to paragraph 5 hereof, upon the date set for payment of a Purchase Price or Fundamental Change Purchase Price pursuant to paragraph 7 hereof or upon the Final Maturity of this Note) or if interest due hereon or any portion of such interest is not paid when due in accordance with Section 3.10 of this paragraph or paragraph 10 hereof, then in each such case the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case overdue amount shall bear interest will continue to accrue on the Securities at the rates set forth aboverate of 4.25% per annum, as the case may be, until the earlier of compounded semiannually (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment of such interest shall be legally enforceable), which interest shall accrue from the date such overdue amount was due to the relevant Holders following date payment of such notificationamount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand.
Appears in 1 contract
Sources: First Supplemental Indenture (Interpublic Group of Companies, Inc.)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will pay This Security shall bear cash interest on at the principal amount rate of the US $1,000,000,000 Securities at 6.751.50% per annum from March 7, 2011 until Maturityannum. Interest will on this Security shall accrue from the Issue Date, or from the most recent date to which interest has been paid or provided for. Interest shall be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually payable semiannually in arrears on March April 1 and September October 1 of each year (each an Interest Payment Date) commencing year, beginning on September October 1, 20112006, to the Holders holders of record of Securities registered as such as of at the close of business on February the March 15 and August 15, or September 15 immediately preceding the relevant such Interest Payment Date. If an Each payment of cash interest on this Security shall include interest accrued for the period commencing on and including the immediately preceding Interest Payment Date (or, if none, the scheduled original Issue Date) through the day before the applicable Interest Payment Date or the maturity date in respect of the Securities purchase date. Any payment required to be made on any day that is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”)shall be calculated using a 360-day year composed of twelve 30-day months. Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will shall cease to accrue on this Security upon its Maturity, conversion or purchase by the Securities on Company at the option of the Holder upon a Change in Control in accordance with paragraph 5 hereof. If the Principal Amount hereof or any portion of such Principal Amount is not paid when due date for their redemption, unless(whether upon acceleration pursuant to Section 7.02 of the Indenture, upon such due date, the date set for payment of principal is improperly withheld the Change in Control Purchase Price pursuant to paragraph 5 hereof or refused upon the Maturity of this Security) or if default interest due hereon or any portion of such interest is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums not paid when due in respect of accordance with paragraph 5 or 7 hereof, then in each such Securities up to that day are received by case the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh dayoverdue amount shall, except to the extent that there is failure in permitted by law, bear interest at the subsequent payment rate of 1.125% per annum, compounded semiannually, which interest shall accrue from the date such overdue amount was originally due to the relevant Holders following date payment of such notificationamount, including interest thereon, has been made or duly provided for. All such interest shall be payable on the next Interest Payment Date.
Appears in 1 contract
Sources: Indenture (Allergan Inc)
Interest. ArcelorMittalCEMEX España, a société anonyme organized under S.A. acting through its Luxembourg law will Branch, CEMEX España, S.A., Luxembourg Branch (together with its successors and assigns, the “Issuer”), promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August November 15, immediately preceding the relevant Interest Payment Date. If an 2010; provided that if any such Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, then such payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a succeeding Business Day. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from the date it was most recently paid (each such periodMay 12, an “Interest Period”). Interest 2010; provided that if there is no existing Default or Event of Default on the Securities will be calculated payment of interest, and if this Note is authenticated between a Record Date referred to on the face hereof and the next succeeding Interest Payment Date (but after May 12, 2010), interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue to shall accrue from May 12, 2010. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the then applicable interest rate on the Securities Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (“Defaulted Interest”), without regard to any applicable grace period, at the rates set forth above, as same rate to the case may be, until extent lawful. Interest will be computed on the earlier basis of (a) the a 360-day on which all sums due in respect year of such Securities up to that twelve 30-day are received months. All payments made by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Issuer in respect of the Notes will be made free and clear of and without deduction or withholding for or on account of any Taxes imposed or levied by or on behalf of any Taxing Authority, unless such Securities up withholding or deduction is required by law or by the interpretation or administration thereof. In that event, the Issuer will pay to that seventh day, except each Holder of the Notes Additional Amounts as provided in the Indenture subject to the extent that there is failure limitations set forth in the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 1 contract
Sources: Indenture (Cemex Sab De Cv)
Interest. ArcelorMittalLinn Energy, LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Linn Energy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.756.250% per annum from March 72, 2011 2012 until Maturity. maturity and shall pay Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March May 1 and September November 1 of each year (each an “Interest Payment Date) ”), commencing on September November 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date2012. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is 1% higher than the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Linn Energy, LLC)
Interest. ArcelorMittalCopano Energy, L.L.C., a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Copano Energy Finance Corporation, a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.758.125% per annum from March February 7, 2011 2006 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) year, commencing on September 1, 20112006, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Copano Energy, L.L.C.)
Interest. ArcelorMittal(a) Ashland Inc., a société anonyme organized under Luxembourg law will Kentucky corporation, or its successor (together, “Ashland ”), promises to pay interest on the principal amount of this Note (the US $1,000,000,000 Securities “Notes”) at 6.75% per annum from March 7, 2011 until Maturitya fixed rate. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company Ashland will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on March June 1 and September December 1 of each year (each an Interest Payment Date) year, commencing on September December 1, 20112009 or, to the Holders of Securities registered as if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities will be calculated Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including December 1, 2009; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after December 1, 2009), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on original issuance of the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. Ashland shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.
Appears in 1 contract
Sources: Indenture (Ashland Inc.)
Interest. ArcelorMittalEV Energy Partners, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and EV Energy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.758.0% per annum from March 722, 2011 until Maturity. maturity and shall pay any Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 April 15 and September 1 October 15 of each year (each an “Interest Payment Date) ”), commencing on September 1October 15, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is 1% higher than the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and any Additional Interest (without regard to any applicable grace periods) from time to time on demand at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (EV Energy Partners, LP)
Interest. ArcelorMittalRivian Holdings, LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), Rivian, LLC, a Delaware limited liability company (“Rivian LLC”), and Rivian Automotive, LLC, a Delaware limited liability company (“Rivian Automotive” and, together with the Company and Rivian LLC, the “Co-Issuers”) promise to pay or cause to be paid with respect to each Interest Period interest on the principal amount of the US $1,000,000,000 Securities this Note in cash at 6.75% a rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment determined in accordance with Article III Section 1.05 of the Fourth Supplemental Indenture referred to below. The Company Co-Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 October 15 and September 1 April 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that the first Interest Payment Date shall be April 15, an “Interest Period”)2022. Interest The Co-Issuers shall also pay accrued interest on the Securities will be calculated Notes, if any, in accordance with cash on the Maturity Date.
(i) Automatically, after the occurrence and during the continuance of an Event of Default described in clauses (6) or (7) of Section 3.10 7.01 of the Indenture. Interest will cease Indenture and (ii) upon the occurrence and during the continuation of any Designated Event of Default, the Trustee or the Supermajority Holders may, at their option, by written notice to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in Company (which case interest will continue to accrue on the Securities notice may be revoked at the rates set forth aboveoption of the Supermajority Holders notwithstanding any provision of Section 10.02 requiring the consent of “each Holder of an affected Note” for reductions in interest rates), as declare that (i) the Notes shall bear interest at 2% plus the rate otherwise applicable to the Notes or (ii) in the case may beof any other amount outstanding under the Operative Documents, until such amount shall accrue at 2% plus the earlier rate applicable to such fee or other obligation as provided under the Operative Documents. Notwithstanding anything to the contrary and for avoidance of doubt, (a) the day on which all sums due in respect payment of such Securities up to that day are received by the relevant Holder or accrued and unpaid interest for any Interest Period, (b) the day falling seven days after the Trustee has notified the Holders payment of receipt any accrued and unpaid interest in connection with any redemption or repurchase of all sums due in respect Notes pursuant to Article 3 of the such Securities up Indenture (including Section 3.07 of the Indenture), Section 4.11 of the Indenture, Section 4.12 of the Indenture or Section 4.13 of the Indenture, as applicable, (c) the payment of any accrued and unpaid interest in connection with any defeasance or satisfaction and discharge of the Indenture, (d) the payment of any accrued and unpaid interest on the Maturity Date, (e) the payment of additional interest required to that seventh daybe paid pursuant to Section 2.12 of the Indenture and (f) the payment of any accrued and unpaid interest upon any acceleration of the Notes shall, except to in each case of clauses (a), (b), (c), (d), (e) and (f), be made solely in cash. Interest will be computed on the extent that there is failure in the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year comprised of twelve 30-day months.
Appears in 1 contract
Interest. ArcelorMittal5.1 With respect to Notes, a société anonyme organized under Luxembourg law will pay the interest rate shall be fixed on the principal amount Closing Date at the greater of the US $1,000,000,000 Securities at 6.75% (i) nine percent (9.00%) per annum from March 7or (ii) the One Year EUR Libor Rate, 2011 until Maturityas quoted in the Wall Street Journal five (5) Business Day prior to subscription, plus nine percent (9.00%) per annum.
5.2 Interest shall be paid in arrears in respect of each Interest Period on each Interest Payment Date, as set out in the interest payment schedule attached as Annex 2. To the extent interest is not paid for at least one year on any Interest will be subject to adjustment Payment Date, further interest shall accrue on any such interest not so paid in accordance with Article III 1343-2 of the Fourth Supplemental Indenture referred French Civil Code at the rate specified in Article 5.5 here under. Interest shall be calculated on the basis of a 365 days year and shall be deemed to below. The Company will pay accrue on the Notes from day to day.
5.3 Each interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, payment shall be made to the Holders of Securities registered as Noteholder, such as evidenced on the Register of Noteholder at the close of business on February 15 and August 15, immediately the Business Day preceding the relevant Interest Payment Date. If an Interest Payment Date or date for payment of such interest, and every such Noteholder shall be deemed, for the maturity purposes of these presents, to be the holder, on such date in respect for payment of interest, of the Securities is not a Business Day in the Place Notes held by him on such preceding date notwithstanding any intermediate transfer or transmission of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. any such Notes.
5.4 Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest principal moneys outstanding on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will any Notes becoming liable to repayment under any provision hereof shall cease to accrue on the Securities on as from the due date for their redemption, unless, upon repayment of such due date, principal moneys unless repayment of any such principal moneys and/or payment of principal any such interest is improperly withheld or refused or if default is otherwise made in respect of payment of principal, not effected in which case event interest will shall continue to accrue at the rate specified in Article 5.5 on the Securities amount which remains unpaid until actual payment in full of such principal moneys and interest is made.
5.5 Should the Issuer fail to pay any sum (including, but without limitation, any sum payable on each Interest Payment Date pursuant to Article 5.2) on its due date for payment under this Agreement, the Issuer shall pay interest on such sum from the due date (included) up to the date of actual payment (excluded) (as well after as before judgment) at a rate which shall be the rates set forth above, as the case may be, until the earlier aggregate of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or two percent (2%) per cent per annum and (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationinterest rate set out under Article 5.1 here above.
Appears in 1 contract
Interest. ArcelorMittal▇▇▇▇▇▇▇▇ Group Issuer LLC, a Delaware limited liability company (such company being herein called the “US Issuer I”), ▇▇▇▇▇▇▇▇ Group Issuer Inc., a Delaware corporation (such company being herein called the “US Issuer II” and, together with the US Issuer I, the “US Issuers”), and ▇▇▇▇▇▇▇▇ Group Issuer (Luxembourg) S.A., a company incorporated as a société anonyme organized (a public limited liability company) under the laws of Luxembourg law will (the “Luxembourg Issuer” and, together with the US Issuers, the “Issuers”), promise to pay interest on the principal amount of this Fixed Rate Senior Secured Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7shown above. The Issuers shall pay interest semiannually on January 15 and July 15 of each year, 2011 until Maturitycommencing January 15, 2017. Interest will on the Fixed Rate Senior Secured Notes shall accrue from the most recent date to which interest has been paid or provided for or, if no interest has been paid or provided for, from June 27, 2016 until the principal hereof is due. Interest shall be subject to adjustment in accordance with Article III computed on the basis of the Fourth Supplemental Indenture referred to belowa 360-day year comprised of twelve 30-day months. The Company will Issuers shall pay interest on overdue principal at the rate borne by the Fixed Rate Senior Secured Notes, and Additional Amounts, if any, pursuant to Section 10.11 it shall pay interest on overdue installments of interest at the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, same rate to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Dateextent lawful. If an Interest Payment Date or the maturity a payment date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case may be, payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if and no interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the Securities on intervening period. If a regular record date is not a Business Day, the due record date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationshall not be affected.
Appears in 1 contract
Sources: Senior Secured Notes Indenture (Reynolds Group Holdings LTD)
Interest. ArcelorMittalRange Resources Corporation, a société anonyme organized under Luxembourg law will Delaware corporation (the “Issuer”), promises to pay or cause to be paid interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75a rate of 8.25% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowannum. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 January 15 and September 1 July 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will (each, an “Interest Payment Date”); provided that the first Interest Payment Date shall be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this IndentureJuly 15, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day2021. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that, an “Interest Period”). Interest if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Issuer will be calculated pay interest (including post-petition interest in accordance with Section 3.10 of any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is equal to the Indenture. Interest will cease to accrue then applicable interest rate on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; the Issuer will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period), from time to time on demand at the same rate to the extent lawful. [All references in the subsequent payment Indenture or this Note to “interest” shall be deemed to include Additional Interest, if any, unless the relevant Holders following such notificationcontext requires otherwise. The Issuer will pay all Additional Interest, if any, in the same manner on the dates and in the amounts set forth in the applicable Registration Rights Agreement.]1 Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Range Resources Corp)
Interest. ArcelorMittalGrupo Iusacell Celular, S.A. de C.V., a société anonyme organized Mexican sociedad anónima de capital variable (together with its successors and assigns under Luxembourg law will the Indenture, the “Company”), promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowshown above. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually semiannually in arrears on March 1 and September 1 each Interest Payment Date of each year (each an Interest Payment Date) commencing on September 1[December 31, 20112006][June 30, 2007]3. Payments will be made to the persons who are Holders of Securities registered as such as of at the close of business on February June 15 and August December 15, respectively, immediately preceding the relevant Interest Payment Date. If an applicable Interest Payment Date or (the maturity date “Record Date”), except that, in respect the case of the Securities is not a Business Day in first such payment, if the Place Issue Date occurs between June 15 and June 30 or between December 15 and December 31, then the Record Date for such first payment will be the Issue Date and such first payment will be made to the persons who are Holders at the close of Payment, we will pay interest or principal, as the case may be, business on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business DayIssue Date. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid on the Notes or, if no interest has already been paid, from and including the date it was most recently paid Issue Date. The Company shall pay interest on overdue principal (each plus interest on such periodinterest to the extent lawful), an “Interest Period”). Interest on at the Securities will be calculated in accordance with Section 3.10 of rate borne by the IndentureNotes to the extent lawful. Interest will cease to accrue be computed on the Securities basis of a 360-day year of twelve 30-day months. For any Interest Payment Date, the Company may, at its option, elect to:
1) pay interest on the Notes entirely in Cash; or
2) capitalize up to 30% of the interest due on any Interest Payment Date that is not otherwise paid on such date for their redemption, unless, upon such due date, payment because of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalthe election to so capitalize, in which case the principal amount of the Outstanding Notes will be increased by the capitalized amount on a pro rata basis. The Company must elect the form of interest payment with respect to each interest period by delivering a written notice to the Trustee on or before the date that is 15 days prior to the applicable Record Date, except that, in the case of the first such payment, the Company must make such election on or before the Issue Date. The Trustee will continue promptly deliver a corresponding notice to accrue the Holders. In the absence of a timely delivered notice of election, interest on the Securities Outstanding Notes will be payable entirely in Cash. Following an increase in the principal amount of the Outstanding Notes as a result of a capitalization of interest (1) capitalized interest on the Outstanding Notes will be payable by increasing the principal amount of the Outstanding Notes in an amount equal to the amount of capitalized interest for the applicable period (rounded to the nearest U.S.$1.00); and (2) the Outstanding Notes shall bear interest on such increased principal amount from and after the date of such capitalization of interest. 3 Note to draft: Pick date immediately following the Issue Date. The Company shall pay interest (including post-petition interest in any proceeding under any Insolvency Law) on overdue principal and, to the extent such payments are lawful, interest on overdue installments of interest (“Defaulted Interest”) without regard to any applicable grace periods at the rates rate of 2.0% per annum in excess of the rate shown on this Note, as provided in the Indenture. To the extent Mexican Taxes are required to be withheld or deducted from any such payment, the Company shall pay, as provided for in and subject to the exceptions set forth abovein the Indenture, such Additional Amounts as may be necessary to ensure that the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are net amount actually received by the relevant Holder after such withholding or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except deduction is equal to the extent amount that there is failure in the subsequent payment to the relevant Holders following Holder would have received had no such notificationwithholding or deduction been required.
Appears in 1 contract
Sources: Indenture (Iusacell S a De C V)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will Delphi Automotive PLC (the “Issuer”) promises to pay interest on the principal amount of the US $1,000,000,000 Securities this 2025 Note at 6.75% a rate per annum of 1.500% from March 710, 2011 2015 until Maturity. Interest will be subject maturity or pursuant to adjustment in accordance with Article III Section 7.02 of the Fourth First Supplemental Indenture referred to belowIndenture. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-on this 2025 Note annually in arrears on March 1 and September 1 10 of each year (each an Interest Payment Date) year, commencing on September 1March 10, 20112016, to the Holders of Securities registered as or, if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such periodeach, an “Interest PeriodPayment Date”). The Issuer will make each interest payment to the Holder of record of this 2025 Note on the immediately preceding February 23 (the “Regular Record Date”). Interest on this 2025 Note will accrue from the Securities most recent date to which interest has been paid or, if no interest has been paid, from and including March 10, 2015. The Issuer will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate borne by this 2025 Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Indenturerate borne by this 2025 Note. Interest will cease be computed on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the date from which interest begins to accrue for the period (or from the Issue Date if no interest has been paid on the Securities on 2025 Notes) to, but excluding the due date for their redemption, unless, upon such due next scheduled interest payment date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except pursuant to the extent that there is failure in the subsequent Actual/Actual (ICMA) payment to the relevant Holders following such notificationconvention.
Appears in 1 contract
Sources: First Supplemental Indenture (Delphi Automotive PLC)
Interest. ArcelorMittal(a) INTELSAT INTERMEDIATE HOLDING COMPANY, LTD, a société anonyme organized company incorporated under Luxembourg law will the laws of Bermuda (such company, and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Issuer”) and INTELSAT, LTD., a company incorporated under the laws of Bermuda (“Holdings”), promise to pay interest on the principal amount at maturity of this Note at the rate per annum shown above. Prior to February 1, 2010, interest on the Note will accrue in the form of an increase in the Accreted Value of the US $1,000,000,000 Securities Note, and no cash interest shall be paid. The Accreted Value of the Note will increase from the date of issuance until February 1, 2010 at 6.75a rate of 9.50% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, compounded semi-annually as provided in arrears the definition of “Accreted Value” in the Indenture such that the Accreted Value will (except as otherwise provided in the definition of “Accreted Value”) equal the principal amount at maturity on March February 1, 2010. The Issuer and Holdings shall pay cash interest semi-annually on February 1 and September August 1 of each year (each an Interest Payment Date) year, commencing on September August 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date2010. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Cash Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or duly provided for or, if no interest has already been paidpaid or duly provided for, from the date it was most recently paid (each such periodand including February 1, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be2010, until the earlier principal hereof is due. Interest shall be computed on the basis of (a) a 360-day year of twelve 30-day months. The Issuer and Holdings shall pay interest on overdue principal at the day on which all sums due in respect of such Securities up to that day are received rate borne by the relevant Holder or (b) Notes, and shall pay interest on overdue installments of interest at the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 1 contract
Sources: Indenture (Intelsat LTD)
Interest. ArcelorMittal(a) Subject to Article IV, a société anonyme organized under Luxembourg law will pay interest on the principal amount Series A Notes shall be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of the US $1,000,000,000 Securities at 6.75% per annum from March 7each year (each, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional AmountsSection 2.5(b), if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an “Interest Payment Date) ”), commencing on September 1July 15, 20112018, and at Stated Maturity to the Holders of Securities Person in whose name the relevant Series A Notes are registered as such as of at the close of business on February 15 the Regular Record Date for such Interest Payment Date except that interest payable at the Stated Maturity shall be paid to the Person to whom principal is payable. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months, and August 15with respect to any period less than a full calendar month, immediately preceding on the relevant basis of the actual number of days elapsed during a 30-day month. If any Interest Payment Date. If an Interest Payment Date , Redemption Date, the Stated Maturity or the maturity date in respect of (if any) on which the Securities Company is required to purchase the Series A Notes pursuant to Section 9.5 is not a Business Day in Day, then the Place of Payment, we will pay interest or principal, as the case may be, applicable payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day. Interest on the Securities will Day and no interest shall accrue from the Closing Date or, if interest has already been paid, from the date it was most recently or be paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment such delay. Section 15.5 of principalthe Base Indenture is hereby superseded in its entirety, with respect to the Series A Notes, by the immediately preceding sentence.
(b) The Series A Notes will bear interest initially at the rate of 3.70% per year (the “Coupon Rate”) from and including April 23, 2018 to, but excluding, the date the principal amount thereof is paid or made available for payment, or in the event of a Successful Remarketing, the Remarketing Settlement Date. In the event of a Successful Remarketing of the Series A Notes, the interest rate applicable to the Series A Notes may be reset by the Remarketing Agent(s) to the applicable Reset Rate with effect from the Remarketing Settlement Date, as set forth in Section 9.3. If the interest rate is so reset, the Series A Notes will bear interest at the applicable Reset Rate from, and including, the Remarketing Settlement Date to, but excluding, the date the principal amount thereof is paid or made available for payment. In the event of a Successful Remarketing, following the applicable Remarketing Settlement Date, interest on Series A Notes will be payable semi-annually on April 15 and October 15. If there is no Successful Remarketing, the interest rate applicable to the Series A Notes will not be reset, the Interest Payment Dates shall remain the same and the Series A Notes shall continue to bear interest at the Coupon Rate. The Series A Notes shall bear interest, to the extent permitted by law, on any overdue principal and interest at the Coupon Rate, unless a Successful Remarketing shall have occurred, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days and after the Trustee has notified Remarketing Settlement Date the Holders of receipt of all sums due in respect of the such Securities up to that seventh daySeries A Notes shall bear interest, except to the extent that there is failure permitted by law, on any overdue principal and interest at the Reset Rate. The second paragraph of Section 2.3 of the Base Indenture (except for the last sentence thereof, which sentence shall be deemed to apply to the term “Regular Record Date” as defined herein) shall not apply with respect to the Series A Notes, and any reference in the subsequent payment Base Indenture to such provision shall, for purposes of the relevant Holders following such notificationSeries A Notes, be deemed to refer instead to this Section 2.5.
Appears in 1 contract
Sources: Supplemental Indenture (South Jersey Industries Inc)
Interest. ArcelorMittalTriumph Group, Inc., a société anonyme organized under Luxembourg law will Delaware corporation, or its successor (together, “Triumph” or the “Company”), promises to pay interest on the principal amount of this Note (the US $1,000,000,000 Securities “Notes”) at 6.75% per annum from March 7, 2011 until Maturitya fixed rate. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company Triumph will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on March June 1 and September 1 December 1, of each year (each an Interest Payment Date) year, commencing on September December 1, 20112020 or, to the Holders of Securities registered as if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities will be calculated Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including August 17, 2020; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after December 1, 2020), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on original issuance of the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. Triumph shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.
Appears in 1 contract
Sources: Indenture (Triumph Group Inc)
Interest. ArcelorMittal, This Note shall bear interest at a société anonyme organized under Luxembourg law will pay interest rate of 4.00% per year on the principal amount of hereof, from June 9, 2003 or from the US $1,000,000,000 Securities at 6.75% per annum from March 7most recent Interest Payment Date (as defined below) to which payment has been made or duly provided for, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually payable semiannually in arrears on March 1 June 15 and September 1 December 15 of each year year, beginning December 15, 2003 (each an "Interest Payment Date") commencing on September 1, 2011, to the Holders of Securities persons in whose names the Notes are registered as such as of at the close of business on February 15 June 1 and August 15, immediately preceding the relevant Interest Payment December 1 (each a "Regular Record Date. If an Interest Payment Date ") (whether or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principalDay), as the case may be, immediately preceding the applicable Interest Payment Date. This Note shall also bear Contingent Interest in certain circumstances as specified in paragraph 5 below. The amount of interest payable for any period shall be computed on the next Business Daybasis of a 360-day year of twelve 30-day months. Payments postponed to the next Business Day in this situation will The amount of interest payable for any partial period shall be treated under this Indenture as if they were made computed on the original basis of a 360-day year of twelve 30-day months and the days elapsed in any partial month. Holders of Notes at the close of business on a Regular Record Date will receive payment of interest, including Contingent Interest, if any, payable on the corresponding Interest Payment Date notwithstanding the conversion of such Notes at any time after the close of business on such Regular Record Date, except in circumstances as specified in paragraph 8 below. If the principal or any portion of such principal is not paid when due date. Postponement (whether upon acceleration, upon the date set for payment of the Redemption Price pursuant to paragraph 6, upon the date set for payment of a Purchase Price or Fundamental Change Purchase Price pursuant to paragraph 8 or upon the Stated Maturity of this kind will not result in a default under the Securities Note) or this Indenture, and no if interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or(including Contingent Interest, if any) due hereon or any portion of such interest has already been paid, from the date it was most recently is not paid (each such period, an “Interest Period”). Interest on the Securities will be calculated when due in accordance with Section 3.10 of this paragraph or paragraph 5 or 11, then in each such case the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case overdue amount shall bear interest will continue to accrue on the Securities at the rates set forth aboverate of 4.00% per annum, as the case may be, until the earlier of compounded semiannually (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment of such interest shall be legally enforceable), which interest shall accrue from the date such overdue amount was due to the relevant Holders following date payment of such notificationamount, including interest thereon, has been made or duly provided for. All such interest shall be payable on demand.
Appears in 1 contract
Interest. ArcelorMittalOffshore Group Investment Limited, a société anonyme organized under Luxembourg law will Cayman Islands exempted company (the “Company”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75a rate of 11 1/2% per annum annum, from March 7, 2011 the Issue Date until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March February 1 and September August 1 of each year (each an Interest Payment Date) year, commencing on September February 1, 2011, or if any such day is not a Business Day, on the next succeeding Business Day. Interest on the Notes will accrue from the most recent Interest Payment Date or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a Record Date referred to on the Holders of Securities registered as face hereof and the next succeeding Interest Payment Date, interest shall accrue from such as of close of business on February 15 and August 15, immediately preceding the relevant next succeeding Interest Payment Date. If an The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal, premium, if any, and interest (without regard to any applicable grace period), from time to time on demand at a rate equal to 2% per annum in excess of the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The Company will notify the Trustee in writing of the amount of interest proposed to be paid on each Note and the date of the proposed payment. At least 15 days before the Record Date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) will mail or cause to be mailed to Holders a notice that states the Record Date, the related Interest Payment Date or and the maturity date in respect amount of the Securities is not a Business Day in the Place of Payment, we such interest to be paid. The Company will pay Additional Interest, if any, to Holders pursuant to the Registration Rights Agreement. All references to “interest” shall mean the initial interest or principalrate borne by the Notes plus any Default Interest, any Additional Interest and any Special Interest, as the case may be. If there has been no demand that the Company pay Default Interest, the Company shall pay Default Interest, Additional Interest, if any, and Special Interest, if any, in the same manner as other interest, and on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture same dates as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to Notes and in the relevant Holders following such notificationIndenture dated as of July 30, 2010 (the “Indenture”) among the Company, the Guarantors and the Trustee.
Appears in 1 contract
Sources: Indenture (Vantage Drilling CO)
Interest. ArcelorMittalGenesis Energy, L.P., a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and Genesis Energy Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.757.875% per annum from March 7May 9, 2011 2024 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amountsinterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 May 15 and September 1 November 15 of each year (each an “Interest Payment Date) ”), commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August November 15, immediately preceding the relevant Interest Payment Date2024. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Twenty First Supplemental Indenture (Genesis Energy Lp)
Interest. ArcelorMittalTEREX CORPORATION, a société anonyme organized under Luxembourg law will Delaware corporation (the "Company"), promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities rate per annum shown above; [provided, however, that if a Registration Default (as defined in the Registration Rights Agreement) occurs, additional cash interest will accrue on this Note at 6.75a rate of 0.50% per annum from March 7and including the date on which any such Registration Default shall occur to but excluding the date on which all Registration Defaults have been cured, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III calculated on the principal amount of this Note as of the Fourth Supplemental Indenture referred date on which such interest is payable. Such interest is payable in addition to belowany other interest payable from time to time with respect to this Note. The Trustee will not be deemed to have notice of a Registration Default until it shall have received actual notice of such Registration Default].4 Interest on the Notes will accrue from [the most recent date on which interest has been paid on the Initial Note in exchange for which this [Exchange Note] [Private Exchange Note] was issued] [date of issuance of Additional Notes]. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) , commencing on September [April 1, 2011, to the Holders 1999] [first interest payment date after issuance of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the IndentureAdditional Notes]. Interest will cease to accrue be computed on the Securities basis of a 360-day year of twelve 30-day months. The Company shall pay interest on the due date for their redemption, unless, upon such due date, payment of overdue principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received rate borne by the relevant Holder or Notes plus 1% per annum and on overdue installments of interest (bwithout regard to any applicable grace periods) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the at such Securities up to that seventh day, except higher rate to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 1 contract
Sources: Indenture (Terex Corp)
Interest. ArcelorMittal(a) Subject to Article IV, a société anonyme organized under Luxembourg law will pay interest on the principal amount Series B Notes shall be payable quarterly in arrears on January 1, April 1, July 1 and October 1 of the US $1,000,000,000 Securities at 6.75% per annum from March 7each year (each, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional AmountsSection 2.5(b), if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an “Interest Payment Date) ”), commencing on September July 1, 20112021, and at Stated Maturity to the Holders of Securities Person in whose name the relevant Series B Notes are registered as such as of at the close of business on February 15 the Regular Record Date for such Interest Payment Date except that interest payable at the Stated Maturity shall be paid to the Person to whom principal is payable. Interest shall be calculated on the basis of a 360-day year of twelve 30-day months, and August 15with respect to any period less than a full calendar month, immediately preceding on the relevant basis of the actual number of days elapsed during a 30-day month. If any Interest Payment Date. If an Interest Payment Date , Redemption Date, the Stated Maturity or the maturity date in respect of (if any) on which the Securities Company is required to purchase the Series B Notes pursuant to Section 9.5 is not a Business Day in Day, then the Place of Payment, we will pay interest or principal, as the case may be, applicable payment shall be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day. Interest on the Securities will Day and no interest shall accrue from the Closing Date or, if interest has already been paid, from the date it was most recently or be paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment such delay. Section 15.5 of principalthe Base Indenture is hereby superseded in its entirety, with respect to the Series B Notes, by the immediately preceding sentence.
(b) The Series B Notes will bear interest initially at the rate of 1.65% per year (the “Coupon Rate”) from and including March 22, 2021 to, but excluding, the date the principal amount thereof is paid or made available for payment, or in the event of a Successful Remarketing, the Remarketing Settlement Date. In the event of a Successful Remarketing of the Series B Notes, the interest rate applicable to the Series B Notes may be reset by the Remarketing Agent(s) to the applicable Reset Rate with effect from the Remarketing Settlement Date, as set forth in Section 9.3. If the interest rate is so reset, the Series B Notes will bear interest at the applicable Reset Rate from, and including, the Remarketing Settlement Date to, but excluding, the date the principal amount thereof is paid or made available for payment. In the event of a Successful Remarketing, following the applicable Remarketing Settlement Date, interest on Series B Notes will be payable semi-annually on April 1 and October 1. If there is no Successful Remarketing, the interest rate applicable to the Series B Notes will not be reset, the Interest Payment Dates shall remain the same and the Series B Notes shall continue to bear interest at the Coupon Rate. The Series B Notes shall bear interest, to the extent permitted by law, on any overdue principal and interest at the Coupon Rate, unless a Successful Remarketing shall have occurred, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days and after the Trustee has notified Remarketing Settlement Date the Holders of receipt of all sums due in respect of the such Securities up to that seventh daySeries B Notes shall bear interest, except to the extent that there is failure permitted by law, on any overdue principal and interest at the Reset Rate. The second paragraph of Section 2.3 of the Base Indenture (except for the last sentence thereof, which sentence shall be deemed to apply to the term “Regular Record Date” as defined herein) shall not apply with respect to the Series B Notes, and any reference in the subsequent payment Base Indenture to such provision shall, for purposes of the relevant Holders following such notificationSeries B Notes, be deemed to refer instead to this Section 2.5.
Appears in 1 contract
Sources: Second Supplemental Indenture (South Jersey Industries Inc)
Interest. ArcelorMittalAirGate PCS, Inc., a société anonyme organized under Luxembourg law will Delaware corporation, or its successor ("AirGate"), promises to pay interest on the principal amount of this Senior Subordinated Discount Note at the US $1,000,000,000 Securities at 6.75rate of _____% per annum from March 7, 2011 until Maturityannum. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company AirGate will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, in United States dollars (except as otherwise provided herein) semi-annually in arrears on March 1 _______ and September 1 of each year (each an Interest Payment Date) ______, commencing on September 1_______, 20112005, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “"Interest Period”Payment Date"). Interest on the Securities will be calculated Senior Subordinated Discount Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from [INSERT DATE WHEN INTEREST ACCRUAL COMMENCES]; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Senior Subordinated Discount Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after [INSERT DATE WHEN INTEREST ACCRUAL COMMENCES]), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalSenior Subordinated Discount Notes, in which case interest will continue shall accrue from the date of authentication. AirGate shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Senior Subordinated Discount Notes to the extent that there is failure lawful; it shall pay interest (including post- petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Agw Leasing Co Inc)
Interest. ArcelorMittalGlobal Partners LP, a société anonyme organized under Luxembourg law will Delaware limited partnership (the “Company”), and GLP Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.757.000% per annum from March 7, 2011 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 2 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) year, commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August December 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date 2015, or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities Notes will be calculated accrue from the most recent date to which interest has been paid or, if no interest has been paid, from [the date of issuance];(2) provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities at the rates set forth aboverate then in effect, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure lawful; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace periods) from time to time on demand at the subsequent payment same rate, to the relevant Holders following such notificationextent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Global Partners Lp)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.7555/8% per annum from March 7, 2011 the date hereof until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will maturity [and shall pay interest and Additional AmountsInterest, if any, pursuant as provided in the Registration Rights Agreement, dated January 23, 2014† referred to Section 10.11 of the Indenturebelow]. The Company shall pay interest [and Additional Interest, if any,]* semi-annually in arrears on March 1 January 15 and September 1 July 15 of each year (each an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid on the Notes (or one or more Predecessor Notes) commencing or, if no interest has been paid, from the date of original issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 face hereof and August 15, immediately preceding the relevant next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be [July 15, 2014]‡. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate borne by the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest]* (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case payment may be, be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 55/8% Senior Notes due 2022 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the Securities will accrue from Initial Note in connection with the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationRegistration Rights Agreement.]**
Appears in 1 contract
Sources: Indenture (Laredo Petroleum, Inc.)
Interest. ArcelorMittalCrosstex Energy, L.P., a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Crosstex Energy Finance Corporation, a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.757.125% per annum from March 7, 2011 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March June 1 and September December 1 of each year (each an Interest Payment Date) year, commencing on September December 1, 20112012, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities Notes will be calculated accrue from the most recent date to which interest has been paid or, if no interest has been paid, from [the date of issuance];(4) provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the Securities rate then in effect; they shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Crosstex Energy Lp)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Corporation (the “Issuer”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum described above. Cash interest on the Notes will accrue from March 7the most recent date to which interest has been paid; or, 2011 until Maturityif no interest has been paid, from and including October 31, 2018. Interest on this Note will be paid to but excluding the relevant Interest Payment Date or on such earlier date as the principal amount shall become due in accordance with the provisions hereof. Interest will be subject payable to adjustment in accordance with Article III the Holder of record on the Fourth Supplemental Indenture referred Regular Record Date, provided, however, interest payable on the Stated Maturity will be paid to belowthe person to whom the principal will be payable. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) , commencing on September February 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant 2019. If any Interest Payment Date. If an Interest Payment , Redemption Date or the maturity date in respect Stated Maturity of the Securities Notes is not a Business Day in Day, then the Place related payment of Payment, we will pay interest or principaland/or principal payable, as the case may beapplicable, on such date will be paid on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities such Interest Payment Date Redemption Date or this Indenture, Stated Maturity and no further interest will accrue on the postponed amount from the original due date to the next day that is as a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each result of such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenturedelay. Interest will cease to accrue be computed on the Securities basis of a 360-day year consisting of twelve 30-day months. The Issuer shall pay interest on overdue principal from time to time on demand by the due date for their redemption, unless, upon such due date, payment Trustee pursuant to Section 5.3 of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities Base Indenture (defined below) at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received rate borne by the relevant Holder or Notes and on overdue installments of interest (bwithout regard to any applicable grace periods) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 1 contract
Sources: Twelfth Supplemental Indenture (Schwab Charles Corp)
Interest. ArcelorMittalHanesbrands Inc., a société anonyme organized under Luxembourg law will Maryland corporation (the “Company”), promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum from March 7annum, 2011 until Maturity. Interest will reset semi-annually, equal to LIBOR plus 3.375%, as determined by the calculation agent (the “Calculation Agent”), which shall initially be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to Trustee as set forth below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be June 15, 2007. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it was most recently paid will pay interest (each such period, an “Interest Period”)including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest from time to time on demand at the same rate to the extent lawful. Interest will be computed on the Securities basis of a 360-day year comprised of twelve 30-day months. The amount of interest for each day that the Notes are outstanding (the “Daily Interest”) will be calculated by dividing the interest rate in accordance with Section 3.10 effect for such day by 360 and multiplying the result by the principal amount of the IndentureNotes. Interest will cease The amount of interest to accrue be paid on the Securities Notes for each Interest Period will be calculated by adding the Daily Interest amounts for each day in the Interest Period. All percentages resulting from any of the above calculations will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point being rounded upwards (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being rounded upwards). The interest rate on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made Notes will in respect of payment of principal, in which case interest will continue to accrue on no event be higher than the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received maximum rate permitted by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationapplicable law.
Appears in 1 contract
Sources: Indenture (Hanesbrands Inc.)
Interest. ArcelorMittalLinn Energy, LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Linn Energy Finance Corp., a Delaware corporation (the “Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.7512.00% per annum from March 7November 20, 2011 2015 until Maturity. maturity and shall pay Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an “Interest Payment Date) ”), commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August June 15, immediately preceding the relevant Interest Payment Date2016. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is 1% higher than the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Linn Energy, LLC)
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will The Company promises to pay interest on the unpaid principal amount of the US $1,000,000,000 Securities this Note at 6.755.00% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will [and shall pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of as provided in the IndentureRegistration Rights Agreement, dated September [16], 2016† referred below].* The Company shall pay interest [and Additional Interest, if any,]* semi-annually in arrears on March 1 February 15 and September 1 August 15 of each year (each each, an “Interest Payment Date) commencing on September 1, 2011, to ”); provided that the Holders of Securities registered as such as of close of business on first Interest Payment Date shall be February 15 and August 15, immediately preceding 2017. Interest shall accrue from the relevant most recent date to which interest has been paid on this Note (or one or more Predecessor Notes) or, if no interest has been paid, from and including the date of original issuance of this Note; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date.† The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate then in effect on this Note to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest [and Additional Interest, if any,]* (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. If an Interest Payment Date or the maturity a payment date in respect of the Securities is not a Business Day in the Place of PaymentDay, we will pay interest or principal, as the case payment may be, be made on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period. [This Exchange Note was issued in connection with the Exchange Offer pursuant to which the 5.00% Senior Notes due 2022 in like principal amount were exchanged for Exchange Notes. The Exchange Notes rank pari passu in right of payment with the Initial Notes. For any period in which the Initial Note exchanged for this Exchange Note was outstanding, Additional Interest may be due and owing on the Securities will accrue from Initial Note in connection with the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationRegistration Rights Agreement.]*
Appears in 1 contract
Sources: Indenture (Range Resources Corp)
Interest. ArcelorMittal(a) Clear Channel Worldwide Holdings, Inc., a société anonyme organized under Luxembourg law will Nevada corporation (the “Issuer”), promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.759.25% per annum from March 7February 12, 2011 20192 until Maturity. Interest will be subject maturity and shall pay the Special Interest, if any, payable pursuant to adjustment in accordance with Article III of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company will Issuer shall pay interest and Additional AmountsSpecial Interest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 1515 of each year, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities will Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date of issuance. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the Notes; it was most recently paid shall pay interest (each such periodincluding post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Special Interest, an “Interest Period”)if any, (without regard to any applicable grace periods) from time to time on demand at 1.0% per annum in excess of the interest rate otherwise payable on the Notes. Interest shall be computed on the Securities basis of a 360-day year comprised of twelve 30-day months.
(b) Not later than the Issue Date, the Issuer will cause the Trustee to establish an account (the “Trustee Account”) to be calculated in accordance with Section 3.10 maintained by the Trustee for the benefit of the Indenture. Interest will cease Holders with respect to accrue payments of interest on the Securities Notes prior to the occurrence of the Separation, over which the Trustee shall have sole control and dominion. At any time prior to the occurrence of the Separation, interest on the due date for their redemptionNotes will accrue, unlessand be payable by or on behalf of the Issuer to the Trustee, upon weekly in arrears on the last Business Day of each week; provided that the failure by the Issuer to make or have made any such due date, weekly payment to the Trustee on the last Business Day of principal is improperly withheld the applicable week will not constitute a Default so long as (a) (x) no payment or refused other transfer by the Company or if default is otherwise any of its Restricted Subsidiaries shall have been made during the applicable week in respect of which such payment was due and payable under the Cash Management Arrangements or (y) the amount of principal, funds on deposit in which case interest will continue to accrue the Trustee Account on the Securities at last Business Day of the rates set forth above, as applicable week is equal to the case may be, until amount of interest which has accrued up to and including the earlier of (a) the day on which all sums due in respect last Business Day of such Securities up to that day are received by the relevant Holder or week and (b) on each Interest Payment Date the day falling seven days after aggregate amount of funds deposited in the Trustee has notified Account is sufficient to pay the aggregate amount of interest on the Notes that is payable by the Trustee to the Holders of receipt the Notes on such Interest Payment Date; provided further, however, that payments of all sums due in respect of the such Securities up interest shall only be deemed to that seventh day, except be overdue to the extent that there is failure the aggregate amount of funds deposited in the subsequent payment Trustee Account is not sufficient to pay the aggregate amount of interest on the Notes that is payable by the Trustee to Holders on the applicable Interest Payment Date. The Issuer or any Guarantor will not be the legal owners of the funds on deposit in the Trustee Account. Such amounts may be in cash in U.S. dollars, in Government Securities or in a combination thereof. Any interest earned on Government Securities held in the Trustee Account will be applied to pay fees and expenses of the Trustee and, to the relevant Holders extent of any excess, returned to the Company. Upon the making by or on behalf of the Issuer of any payment into the Trustee Account, 2 With respect to the Initial Notes the Issuer’s obligation to pay accrued interest shall be discharged to the extent of the amount so paid. If the Trustee fails to make an interest payment on the Notes but the Issuer has deposited the funds with the Trustee, it will not be a Default. At any time on or following such notificationthe occurrence of the Separation, interest on the Notes will accrue, and be payable by or on behalf of the Issuer to the Trustee, semi-annually in arrears on each Interest Payment Date.
(c) Upon the occurrence of the Separation, the Trustee Account will be closed and any and all funds deposited therein will be returned to the Issuer or retained by the Trustee for the benefit of the Issuer at the Issuer’s sole discretion. The closing of the Trustee Account and any related directions of the Issuer to the Trustee following the occurrence of the Separation, will not constitute a Default or give rise to actions by the Trustee or the Holders.
Appears in 1 contract
Interest. ArcelorMittalGenesis Energy, L.P., a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Genesis Energy Finance Corporation, a Delaware corporation (“Finance Corp.” and, together with the Company, the “Issuers”), jointly and severally promise, to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.755.750% per annum from March 7February 8, 2011 2013 until Maturity. maturity and shall pay the Additional Interest will be subject payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company Issuers will pay interest and Additional AmountsInterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 February 15 and September 1 August 15 of each year (each an “Interest Payment Date) ”), commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date2013. If an Interest Payment Date or the maturity date in respect of the Securities falls on a day that is not a Business Day in Day, the Place of Payment, we interest payment to be made on such Interest Payment Date will pay interest or principal, as the case may be, be made on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture with the same force and effect as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesuch Interest Payment Date, and no additional interest will accrue on the postponed amount from the original due date to the next day that is solely as a Business Dayresult of such delayed payment. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. The Issuers shall pay (i) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to accrue time on demand at a rate that is the then applicable interest rate on the Securities Notes and (ii) interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace periods) from time to time on demand at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except same rate to the extent that there is failure in lawful. Interest will be computed on the subsequent payment to the relevant Holders following such notificationbasis of a 360-day year of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Genesis Energy Lp)
Interest. ArcelorMittalFerrellgas, L.P., a société anonyme organized Delaware limited partnership (herein called the “Company”, which term includes any successor Person under Luxembourg law will the Indenture), and Ferrellgas Finance Corp., a Delaware corporation (herein called “Finance Corp.”, which term includes any successor Person under the Indenture; Finance Corp. and the Company, collectively, the “Issuers”), promise to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75% per annum from March 7June 8, 2011 2015 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that if there is no existing Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be December 15, 2015. The Issuers will be calculated pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the Indenturerate then in effect; they will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will cease to accrue be computed on the Securities on the due date for their redemption, unless, upon such due date, payment basis of principal is improperly withheld or refused or if default is otherwise made in respect a 360-day year of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the twelve 30-day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationmonths.
Appears in 1 contract
Interest. ArcelorMittalHAWK CORPORATION, a société anonyme organized under Luxembourg law will Delaware corporation (the "Company"), promises to pay cash interest on the principal amount of this Note at the US $1,000,000,000 Securities at 6.75% rate per annum shown above. Cash interest on the Notes will accrue from March 7the most recent date on which interest has been paid or, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowif no interest has been paid, from October _____, 2002. The Company will pay cash interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If Interest will be computed on the basis of a 360-day year of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed. Under certain circumstances set forth in the Indenture, the Company may be required to pay additional interest on this Note to the holder of record on the applicable PIK Record Date. Such additional interest shall be payable in the form of an Additional PIK Note that is identical in all respects to this Note and dated as of, and starts accruing interest on, the first day of the PIK Accrual Period in which the applicable PIK Interest Payment Date or occurs. Notwithstanding the maturity date foregoing, if the Company is required to pay any such additional interest in respect of a denomination less than $1,000, then the Securities is not a Business Day Company, may, at its option, pay such additional interest by making cash payments in the Place amount of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed any Additional PIK Note that would be required pursuant to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indenture. Interest will cease The Company shall pay interest on overdue principal and on overdue installments of interest (without regard to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (aany applicable grace periods) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in lawful, from time to time on demand at the subsequent payment to the relevant Holders following such notificationDefault Rate.
Appears in 1 contract
Interest. ArcelorMittal, a société anonyme organized under Luxembourg law will This Security shall accrue interest at an initial rate of 6% per annum. The Company promises to pay interest on the principal amount of the US $1,000,000,000 Securities at 6.75% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears cash semiannually on March 1 and September 1 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, commencing August 15, 2010, to Holders of record at the close of business on the immediately preceding February 1 and August 1 (August , 2010 in the relevant Interest Payment Date. If an Interest Payment Date or case of the maturity August 15, 2010 interest payment date in respect of the Securities is originally issued on August , 2010), respectively, whether or not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next such day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if most recent date to which interest has already been paid, or if no interest has been paid, from February 23, 2010, until the date Principal Amount is paid or duly made available for payment. The Company will pay interest on any overdue Principal Amount at the interest rate borne by the Securities at the time such interest on the overdue Principal Amount accrues, compounded semiannually, and it was most recently paid shall pay interest on overdue installments of interest and Liquidated Damages, if any (each such without regard to any applicable grace period), an “Interest Period”)at the same interest rate compounded semiannually. Interest on the Securities will be calculated computed on the basis of a 360-day year comprised of twelve 30-day months. Upon the occurrence and during the continuation of an Event of Default, the interest rate applicable hereunder shall be increased by 2% per annum. Notwithstanding the foregoing, and provided that the payment of the interest in accordance with shares of Common Stock would not result in a violation or violations of the limitation on conversion set forth in Section 3.10 10.16 of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there (i) the Company is failure in not permitted to pay the subsequent payment entire amount of interest then due and payable on this Security and the other Securities issued pursuant to the relevant Holders following Indenture (such notificationamount of interest that is not paid in cash, “Bank Restricted Interest”) pursuant to the terms of any Financing Facility as in effect of the date of the Indenture or (ii) the Company and its Subsidiaries, collectively, determine in their reasonable judgment that they lack sufficient funds to necessary to pay the entire amount of the interest then due and payable on this Security and the other Securities issued pursuant to the Indenture or is otherwise deferring scheduled payments of interest, commitment fees and letter of credit fees any Financing Facility (provided that the Company and its Subsidiaries would be deemed to have sufficient funds to the extent they had available borrowing capacity under the Financing Facilities or other lines of credit or sources of capital that is permitted to be used for this purpose) (such amount of interest for which sufficient funds are lacking, together with Bank Restricted Interest, “Restricted Interest”), the Company may elect to pay Restricted Interest due on this Security by issuing shares of Common Stock that are qualified for registration with the SEC upon the resale of such shares by the holder thereof and listed or quoted on a Principal Market in an amount of shares equal to the quotient of (x) the amount of such Restricted Interest then due on this Security divided by (y) the Restricted Interest Conversion Price (as hereinafter defined), rounded up to the nearest whole share of Common Stock; provided that such rounding shall be with respect to all Restricted Interest then due to the Holder under this Security and any other Securities owned by the Holder. On or prior to the record date immediately preceding the interest payment date for which Restricted Interest will be paid, the Company must give written notice to the Trustee and file a Current Report on Form 8-K of its intention to issue shares of Common Stock in respect of Restricted Interest and the amount of Restricted Interest per $1,000 in principal amount of Securities.
Appears in 1 contract
Interest. ArcelorMittalThe ▇▇▇▇▇▇▇▇▇ Corporation, a société anonyme organized Delaware corporation (such corporation, and its successors and assigns under Luxembourg law will the Indenture hereinafter referred to, being herein called the "Company"), promises to pay interest on the principal amount of this Security at the US $1,000,000,000 Securities rate per annum shown above[; provided, however, -------- ------- that if a Registration Default (as defined in the Registration Rights Agreement) occurs, interest will accrue on this Security at 6.75a rate of 0.50% per annum from March 7and including the date on which any such Registration Default shall occur to but excluding the date on which all Registration Defaults have been cured, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III calculated on the principal amount of this Security as of the Fourth Supplemental Indenture referred date on which such interest is payable; provided, however, that (i) no holder of Securities who is -------- ------- not entitled to belowthe benefits of a Shelf Registration Statement shall be entitled to receive additional interest by reason of a Registration Default that pertains to a Shelf Registration Statement; and (ii) no holder of Securities constituting an unsold allotment from the original sale of the Securities or any other holder of Securities who is entitled to the benefits of a Shelf Registration Statement shall be entitled to receive additional interest by reason of a Registration Default that pertains to a Registered Exchange Offer. Such interest is payable in addition to any other interest payable from time to time with respect to this Security]/1/. The Company will pay interest semiannually on April 15 and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March 1 and September 1 October 15 of each year (each an Interest Payment Date) commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayyear. Interest on the Securities will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the April 20, 1999 [date it was most recently paid (each such period, an “Interest Period”). Interest on the Securities will be calculated in accordance with Section 3.10 of the Indentureissuance of any Additional Securities]. Interest will cease to accrue be computed on the Securities basis of a 360-day year of twelve 30-day months. The Company shall pay interest on overdue principal at the due date for their redemptionrate borne by the Securities, unless, upon such due date, payment and it shall pay interest on overdue installments of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalinterest at the same rate, in which case interest will continue to accrue on the Securities at the rates set forth aboveeach case, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationlawful.
Appears in 1 contract
Interest. ArcelorMittalPGT Escrow Issuer, a société anonyme organized under Luxembourg law will Inc., to be merged with and into PGT Innovations, Inc., promises to pay interest on the principal amount of the US $1,000,000,000 Securities this Note at 6.75% per annum from March 7August 10, 2011 2018 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuer will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March February 1 and September August 1 of each year (each an Interest Payment Date) commencing on September 1or, 2011, to the Holders of Securities registered as if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture(each an “Interest Payment Date”), and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Daycommencing February 1, 2019. Interest on the Securities Notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof original issuance; provided that if there is no existing Default in the payment of interest, an “Interest Period”). Interest and if this Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date. The Issuer shall pay interest (including post-petition interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand to the extent lawful at the interest rate applicable to the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the Indenturesame rate to the extent lawful. Interest will cease to accrue be computed on the Securities on basis of a 360-day year of twelve 30-day months. If the due date for their redemption, unless, upon such due date, any payment of principal is improperly withheld or refused or if default is otherwise made in respect of any Notes is not a Business Day at the place at which such payment is due to be paid, the Holder thereof will not be entitled to payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, amount due until the earlier next succeeding Business Day at such place, and will not be entitled to any further interest or other payment as a result of (a) the day on which all sums due in respect of any such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationdelay.
Appears in 1 contract
Sources: Indenture (PGT Innovations, Inc.)
Interest. ArcelorMittalJitney-Jungle Stores of America, Inc., a société anonyme organized under Luxembourg law will Mississippi corporation, or its successor (the "Company"), promises to pay interest on the principal amount of this Senior Subordinated Note at the US $1,000,000,000 Securities at 6.75rate of 103/8% per annum from March 7and shall pay the Liquidated Damages, 2011 until Maturity. Interest will be subject if any, payable pursuant to adjustment in accordance with Article III Section 5 of the Fourth Supplemental Indenture Registration Rights Agreement referred to below. The Company will pay interest and Additional AmountsLiquidated Damages, if any, pursuant to Section 10.11 of the Indenture, in United States dollars (except as otherwise provided herein) semi-annually in arrears on March 1 15 and September 1 of each year (each an Interest Payment Date) 15, commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August March 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date 1998, or the maturity date in respect of the Securities if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an "Interest Payment Date"). Interest on the Securities will Senior Subordinated Notes shall accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that if there is no existing Default or Event of Default in the payment of interest, an “Interest Period”). Interest and if this Senior Subordinated Note is authenticated between a record date referred to on the Securities will be calculated face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date, except in accordance with Section 3.10 the case of the Indenture. Interest will cease to accrue on the Securities on the due date for their redemption, unless, upon such due date, payment original issuance of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalSenior Subordinated Notes, in which case interest will continue shall accrue from the date of authentication. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Senior Subordinated Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months.
Appears in 1 contract
Sources: Indenture (Jitney Jungle Stores of America Inc /Mi/)
Interest. ArcelorMittal(a) Rock-Tenn Company, a société anonyme organized under Luxembourg law will Georgia corporation, or its successor (together, “Rock-Tenn”), promises to pay interest on the principal amount of this Note (the US $1,000,000,000 Securities “Notes”) at 6.75% per annum from March 7, 2011 until Maturitya fixed rate. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company Rock-Tenn will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in United States dollars (except as otherwise provided herein) semiannually in arrears on March 1 15 and September 1 15 of each year (each an Interest Payment Date) year, commencing on September 1, 2011, to the Holders of Securities registered as such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities 2008 or, if any such day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities will be calculated Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including March 5 2008; provided that if there is no existing Default or Event of Default in accordance with Section 3.10 the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after September 15, 2008), interest shall accrue from such next succeeding Interest Payment Date, except in the case of the Indenture. Interest will cease to accrue on original issuance of the Securities on the due date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principalNotes, in which case interest will continue shall accrue from the date of authentication. Rock-Tenn shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to accrue 1% per annum in excess of the then applicable interest rate on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except Notes to the extent that there is failure lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) at the subsequent payment same rate to the relevant Holders following such notificationextent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States law of general application.
Appears in 1 contract
Sources: Indenture (Rock-Tenn CO)
Interest. ArcelorMittalQuebecor Media Inc., a société anonyme organized company incorporated under Luxembourg law will the laws of Québec (the “Company”), promises to pay interest (as defined in the Indenture) on the principal amount of the US $1,000,000,000 Securities this Note at 6.757 3/8% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company will shall pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears in equal installments (except as noted below) on March 1 June 15 and September 1 December 15 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may beDay, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. Interest on the Securities will accrue from the Closing Date or, if interest has already been paid, from the date it was most recently paid (each such period, an “Interest PeriodPayment Date”). Interest on the Securities Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from January 5, 2011; provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be June 15, 2011. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the interest rate then in effect under the Indenture and this Note; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods), from time to time on demand at the same rate to the extent lawful. In the case of any interest period that is shorter than a full semi-annual interest period due to redemption, interest will be calculated on the basis of a 365-day year and the actual number of days elapsed in accordance with Section 3.10 that period. In addition, in the case of the Indenture. Interest will cease to accrue on first interest period (from the Securities on the due date for their redemptionIssue Date, unlesswhich is January 5, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be2011, until the earlier first interest payment date, which is June 15, 2011), interest will be calculated on the basis of the actual number of days elapsed from the Issue Date to (abut excluding) June 15, 2011 divided by 365. For the day purposes of the Interest Act (Canada), whenever interest is computed on a basis of a year (the “deemed year”) which all sums due contains fewer days than the actual number of days in respect the calendar year of calculation, such Securities up to that day are received rate of interest shall be expressed as a yearly rate for purposes of the Interest Act (Canada) by multiplying such rate of interest by the relevant Holder or (b) the day falling seven actual number of days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except to the extent that there is failure in the subsequent payment to calendar year of calculation and dividing it by the relevant Holders following such notificationnumber of days in the deemed year.
Appears in 1 contract
Sources: Indenture (Quebecor Media Inc)
Interest. ArcelorMittalAgrilink Foods, a société anonyme organized under Luxembourg law will Inc. (the “COMPANY”) promises to pay interest on the principal amount of this Note at the US $1,000,000,000 Securities rate and in the manner specified below. Cash interest will accrue at 6.7511-7/8% per annum from March 7, 2011 until Maturity. Interest maturity and will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to below. The Company will pay interest and Additional Amounts, if any, pursuant to Section 10.11 of the Indenture, payable semi-annually in arrears in cash on March May 1 and September November 1 of each year (each an Interest Payment Date) commencing on September May 1, 20111999, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may be, on the next Business Day. Payments postponed to the next succeeding Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenture, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day(each an “INTEREST PAYMENT DATE”). Interest on the Securities this Note will accrue from the Closing Date most recent date on which interest has been paid or, if no interest has already been paid, from the original date it was most recently paid (each such periodof issue. To the extent lawful, an “Interest Period”). Interest the Company shall pay interest on overdue principal, premium, if any, interest and Additional Interest, if any, from time to time on demand at the Securities will be calculated in accordance with Section 3.10 of the Indenturerate borne by this Note, compounded semi-annually. Interest will cease be computed on the basis of a 360-day year of twelve 30-day months. In the event that one or more Registration Defaults (as defined in the Registration Rights Agreements) shall have occurred and be continuing under the Registration Rights Agreement, then Additional Interest (as defined therein) (in addition to the interest otherwise due hereon) will accrue on the principal amount of the Transfer Restricted Securities (as defined therein) from and including the date on which the due first such Registration Default shall have occurred to but excluding the date for their redemption, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received Registration Defaults have been cured. All accrued Additional Interest, if any, will be paid by the relevant Holder Company or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due Guarantors, in respect of the such Securities up to that seventh dayarrears, except to the extent that there is failure in the subsequent payment to the relevant Holders following such notificationon each Interest Payment Date.
Appears in 1 contract
Sources: Indenture (Birds Eye Foods, Inc.)
Interest. ArcelorMittalGogo Intermediate Holdings LLC, a société anonyme organized under Luxembourg law will Delaware limited liability company (the “Company”), and Gogo Finance Co. Inc., a Delaware corporation (the “Co-Issuer” and, together with the Company, the “Issuers”), promise to pay or cause to be paid interest on the principal amount of the US $1,000,000,000 Securities this note at 6.759.875% per annum from March 7, 2011 until Maturity. Interest will be subject to adjustment in accordance with Article III of the Fourth Supplemental Indenture referred to belowmaturity. The Company Issuers will pay interest and Additional Amountsinterest, if any, pursuant to Section 10.11 of the Indenture, semi-annually in arrears on March May 1 and September November 1 of each year (each an Interest Payment Date) commencing on September 1year, 2011, to the Holders of Securities registered as or if any such as of close of business on February 15 and August 15, immediately preceding the relevant Interest Payment Date. If an Interest Payment Date or the maturity date in respect of the Securities day is not a Business Day in the Place of Payment, we will pay interest or principal, as the case may bebusiness day, on the next Business Day. Payments postponed to the next Business Day in this situation will be treated under this Indenture as if they were made on the original due date. Postponement of this kind will not result in a default under the Securities or this Indenturesucceeding business day (each, and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Dayan “Interest Payment Date”). Interest on the Securities notes will accrue from the Closing Date most recent date to which interest has been paid or, if no interest has already been paid, from the date it was most recently paid (each such periodof issuance; provided that, an “Interest Period”). Interest if this note is authenticated between a record date referred to on the Securities face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be , . The Issuers will be calculated pay interest (including Post-Petition Interest in accordance with Section 3.10 any proceeding under any Bankruptcy Law) on overdue principal at a rate that is 1% higher than the then applicable interest rate on the notes to the extent lawful; it will pay interest (including Post-Petition Interest in any proceeding under any Bankruptcy Law) on overdue installments of interest, if any (without regard to any applicable grace period), at the Indenturesame rate to the extent lawful. Interest will cease to accrue be computed on the Securities on basis of a 360-day year comprised of twelve 30-day months. Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the due date for their redemptionHolder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, unless, upon such due date, payment of principal is improperly withheld or refused or if default is otherwise made this Regulation S Temporary Global Note shall in respect of payment of principal, in which case interest will continue to accrue on the Securities at the rates set forth above, as the case may be, until the earlier of (a) the day on which all sums due in respect of such Securities up to that day are received by the relevant Holder or (b) the day falling seven days after the Trustee has notified the Holders of receipt of all sums due in respect of the such Securities up to that seventh day, except other respects be entitled to the extent that there is failure in same benefits as other notes under the subsequent payment to the relevant Holders following such notificationIndenture.
Appears in 1 contract
Sources: Indenture (Gogo Inc.)