Notes Payable on Optional Redemption Clause Samples
The 'Notes Payable on Optional Redemption' clause defines the issuer's obligation to pay the outstanding principal and any applicable interest on notes if the issuer chooses to redeem them before their scheduled maturity date. In practice, this clause specifies the conditions under which the issuer can exercise the option to redeem the notes early, such as providing advance notice to noteholders and paying any required redemption premium. Its core function is to provide flexibility for the issuer to manage debt obligations proactively while ensuring that noteholders are compensated fairly if their notes are redeemed ahead of schedule.
Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02, the Notes to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall accrue on such Redemption Price for any period after such Redemption Date; provided, however, that if such Redemption Price is not paid on the Redemption Date, the Note Balance shall, until paid, bear interest from the Redemption Date at the Note Interest Rate.
Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02 hereof, the Notes to be redeemed shall, on the applicable Redemption Date, become due and payable and (unless the Trust shall default in such payment) no interest shall accrue on such Notes for any period after such Redemption Date; provided, however, that if such payment is not made on the Redemption Date, the Note Principal Balance shall, until paid, bear interest from the Redemption Date at the applicable Note Rate.
Notes Payable on Optional Redemption. 99 ARTICLE XI MISCELLANEOUS........................................................................................ 99
Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02, the related Class of Notes to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price and (unless the party electing to redeem shall default in the payment of the Redemption Price) no interest shall accrue on such Redemption Price for any period after such Redemption Date; provided, however, that if such Redemption Price is not paid on the Redemption Date, the related Note Balance shall, until paid, bear interest from the Redemption Date at the related Note Interest Rate.