Common use of Optional Prepayment by Company Clause in Contracts

Optional Prepayment by Company. (a) Subject to the provisions of this Article Fourteen, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at the optional prepayment prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment (the "Optional Prepayment Price") if prepaid during the 12-month period beginning January 29 of the years indicated below. Year Percentage 2007 104.680% 2008 104.212% 66 2009 103.744% 2010 103.276% 2011 102.808% 2012 102.340% 2013 101.872% 2014 101.404% 2015 100.936% 2016 100.468% 2017 and thereafter 100.000% If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities will be prepaid pro rata or by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of Securities held by each holder of a Security to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Webster Financial Corp)

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Optional Prepayment by Company. (a) Subject to the provisions of this Article FourteenXIV, the Company shall have the right to prepay the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date at the optional a prepayment prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment price (the "Optional Prepayment Price") equal to the percentage of the outstanding principal amount of the Securities specified below, plus, in each case, accrued interest thereon to the date of prepayment if prepaid during the 12-month period beginning January 29 February 1 of the years indicated below. : Year Percentage ---- ---------- 2007 104.680102.45% 2008 104.212102.21% 66 2009 103.744101.96% 2010 103.276101.72% 2011 102.808101.47% 2012 102.340101.23% 2013 101.872100.98% 2014 101.404100.74% 2015 100.936100.49% 2016 100.468100.25% 2017 and thereafter 100.000100.00% If the Securities are only partially prepaid pursuant to this Section 14.02, the Securities will be prepaid pro rata or by lot or by any other method --- ---- utilized by the Trustee; provided, that if at the time of prepayment the -------- Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each holder for the account of a Security its participants to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines, provided that the -------- Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Xerox Capital Trust I)

Optional Prepayment by Company. (a) Subject to the provisions of this Article FourteenXIV, the Company shall have the right to prepay redeem the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date Date, at the optional prepayment redemption prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment redemption (the "Optional Prepayment Price") if prepaid redeemed during the 12-month period beginning January 29 February 1 of the years indicated below. Year Percentage ---- ---------- 2007 104.680104.625% 2008 104.212104.163% 66 2009 103.744103.700% 2010 103.276103.238% 2011 102.808102.775% 2012 102.340102.313% 2013 101.872101.850% 2014 101.404101.388% 2015 100.936100.925% 2016 100.468100.463% 2017 and thereafter 100.000% -------- If the Securities are only partially prepaid redeemed pursuant to this Section 14.02, the Securities will be prepaid pro rata redeemed PRO RATA or by lot or by any other method utilized by the Trustee; providedPROVIDED, that if at the time of prepayment redemption the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each holder of a Security to be prepaidredeemed. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment redemption or at such earlier time as the Company determines, provided PROVIDED that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (M&t Bank Corp)

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Optional Prepayment by Company. (a) Subject to the provisions of this Article FourteenXIV, the Company shall have the right to prepay redeem the Securities, in whole or in part, from time to time, on or after the Initial Optional Prepayment Date Date, at the optional prepayment redemption prices set forth below (expressed as percentages of principal) plus, in each case, accrued and unpaid interest thereon (including Additional Interest and Compounded Interest, if any) to the applicable date of prepayment redemption (the "Optional Prepayment Price") if prepaid redeemed during the 12-month period beginning January 29 February 1 of the years indicated below. Year Percentage ---- ---------- 2007 104.680104.625% 2008 104.212104.163% 66 2009 103.744103.700% 2010 103.276103.238% 2011 102.808102.775% 2012 102.340102.313% 2013 101.872101.850% 2014 101.404101.388% 2015 100.936100.925% 2016 100.468100.463% 2017 and thereafter 100.000% -------- If the Securities are only partially prepaid redeemed pursuant to this Section 14.02, the Securities will be prepaid redeemed pro rata or by lot or by any other method utilized by the Trustee; provided, that if at the time of prepayment redemption the Securities are registered as a Global Security, the Depositary shall determine, in accordance with its procedures, the principal amount of such Securities held by each holder of a Security to be prepaidredeemed. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment redemption or at such earlier time as the Company determines, provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid.

Appears in 1 contract

Samples: Indenture (Onbancorp Inc)

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