Mandatory Prepayment Redemption Sample Clauses
Mandatory Prepayment Redemption. (a) Upon the occurrence of a Change of Control (as hereinafter defined), the Borrowers shall, at the election of the Holder, prepay the outstanding principal amount of this Note at a redemption price equal to 101% of the outstanding principal amount of this Note (the "CHANGE OF CONTROL REDEMPTION PRICE"), together with interest accrued and unpaid thereon through the date of such prepayment and reasonable out-of-pocket costs and expenses (including, without limitation, reasonable fees, charges and disbursements of counsel), if any, associated with such prepayment. The Borrowers shall give written notice, in the manner specified in Section 15 hereof, to the Holder of the occurrence of a Change of Control at least fifteen (15) Business Days prior to the occurrence thereof; provided, however, that, if the Change of Control resulted from the acquisition of legal or beneficial ownership of 25% or more of the voting Equity Interests of Parent as contemplated by Section 3(b)(ii)(A) below by any executor, administrator, testamentary trustee, heir, legatee, beneficiary and/or distributee (collectively, "BENEFICIARIES") of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ following his death, such notice shall be given within five (5) Business Days following his death. If the Holder makes the election pursuant to this Section 3(a), Borrowers shall pay the Change of Control Redemption Price, together with interest accrued and unpaid thereon and the expenses contemplated above, on the date that such Change of Control occurs; provided, however, that, if the Change of Control resulted from the acquisition of legal or beneficial ownership of 25% or more of the voting Equity Interests of Parent as contemplated by Section 3(b)(ii)(A) below by any Beneficiary of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ following his death, the Borrower shall pay the Change of Control Redemption Price, together with interest accrued and unpaid thereon and the expenses contemplated above, on the date that is the earlier of (i) 270 days following Holder's election pursuant to this Section 3(a) and (ii) the date the outstanding principal of and all accrued interest on this Note is accelerated pursuant to Section 6(b). Until such payment is made in full, interest shall accrue and be paid in accordance with the terms of Section 2 and this Note shall be deemed outstanding for all purposes.
Mandatory Prepayment Redemption. All of the Series 2013 Bonds are subject to redemption prior to their stated maturities, on any date, from the proceeds of the prepayment of Special Taxes, in whole or in part, at the redemption prices (expressed as a percentage of the principal amount of the Series 2013 Bonds to be redeemed) set forth below, together with accrued interest thereon to the date fixed for redemption:
Mandatory Prepayment Redemption. Concurrently with the consummation of any Specified Prepayment Event, the Companies shall jointly and severally prepay the Loan, together with accrued interest thereon and the applicable Redemption Charge as set forth in Section 1.6(c), by the amount of Net Proceeds received in connection with such Specified Prepayment Event (and by the full outstanding amount of the Loan, together with accrued interest thereon, in the event of a Change of Control).
Mandatory Prepayment Redemption. If any event occurs which gives any party the right to redeem the Notes or to require the redemption of the Notes:
(a) the Borrower or the Lender (as the case may be) shall immediately notify the other Party upon becoming aware of that event;
(b) the Commitment of the Lender, if any, will be immediately cancelled; and
(c) the Borrower will immediately prepay the Loan in full.
Mandatory Prepayment Redemption