Optional Redemption Amount Sample Clauses
The Optional Redemption Amount clause defines the amount that must be paid by the issuer to redeem a security before its scheduled maturity date at their discretion. Typically, this amount may include the principal plus any accrued interest and sometimes a premium, depending on the terms set out in the agreement. By specifying the financial terms for early redemption, this clause provides clarity and predictability for both parties, ensuring that the issuer can exercise early repayment while protecting the investor’s interests.
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Optional Redemption Amount. Subject to compliance with Section 6(a), the Company may redeem any portion of the principal amount of this Note, any accrued and unpaid interest, and any other amounts due under this Note in accordance with the following formulae: if the Company exercises its right to redeem the Note, the Company shall make payment to the Holder of (i) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 110%, if such voluntary redemption occurs on or before December 5, 20201, (ii) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 115%, if such voluntary prepayment occurs after December 5, 2020 and before January 4, 20212, (iii) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 120%, if such voluntary prepayment occurs after January 4, 2021 and before February 3, 20213, (iv) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 125%, if such voluntary prepayment occurs after February 3, 2021 and before March 5, 20214, (v) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 130%, if such voluntary prepayment occurs after March 5, 2021 and before April 4, 20215, and (vi) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 135%, if such voluntary prepayment occurs after April 4, 20216 and before the Maturity Date.
Optional Redemption Amount. The definition of “Optional Redemption Amount” set forth in Section 1 of the Note is deleted in its entirety and hereby replaced with the following:
Optional Redemption Amount. The amount (the “Optional Redemption Amount”) to be paid to each Redeemable Preferred Member with respect to each Redeemable Preferred Share redeemed pursuant to this Section 5.1 shall be:
(i) if such Optional Redemption is after the three year anniversary, but on or prior to the fourth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed:
(1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date;
(2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and
(3) an amount equal to five percent (5%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share;
(ii) if such Optional Redemption is after the fourth year anniversary, but on or prior to the fifth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed:
(1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date;
(2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and
(3) an amount equal to three percent (3%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and
(iii) if such Optional Redemption is after the fifth year anniversary of the Effective Date, the sum of the following with respect to each Redeemable Preferred Share to be redeemed:
(1) all Redeemable Preferred Dividends that have accrued but are unpaid with respect to such Redeemable Preferred Share, with such accruals to be calculated up to and including the Optional Redemption Date;
(2) the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share; and
(3) an amount equal to one percent (1%) of the Redeemable Preferred Paid-up Value of such Redeemable Preferred Share;
Optional Redemption Amount. Each share of Preferred Stock redeemed pursuant to this Section 8 shall be redeemed by paying cash in an amount equal to (A) the applicable Stated Value, multiplied by (x) 120%, if the Optional Redemption is consummated on or prior to December 31, 2018, (y) 125%, if the Optional Redemption is consummated after December 31, 2018 and on or prior to December 31, 2019 and (z) 130%, if the Optional Redemption is consummated after December 31, 2019, plus (B) all accrued but unpaid dividends thereon and all liquidated damages and other amounts due in respect of such Preferred Stock as of the Optional Redemption Date (such amount, the “Optional Redemption Amount”).
Optional Redemption Amount. The definition of Optional Redemption Amount in each of the Debentures is hereby deleted in its entirety and replaced with the following:
Optional Redemption Amount. Subject to compliance with Section 6(a) of this Note, and subject to the Holder’s right under Section 6(c) at Holder’s option and upon written notice to the Company to convert all or any portion of the Note, including outstanding principal, accrued interest and penalties, as applicable, through the date all amounts owing thereon are due and paid in full into Conversion Shares or shares of the Company’s Series B Convertible Preferred Stock, in each case based on the Conversion Price, as adjusted, the Company may redeem any portion of the principal amount of this Note, any accrued and unpaid interest, and any other amounts due under this Note in accordance with the following formulae: if the Company exercises its right to redeem the Note, the Company shall make payment to the Holder of (i) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 110%, if such voluntary redemption occurs on or before June 19, 2022, (ii) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 115%, if such voluntary prepayment occurs after June 19, 2022 and before July 19, 2022, (iii) an amount in cash equal to the product of (x) the sum of the principal amount of this Note and any accrued and unpaid interest and (y) 120%, if such voluntary prepayment occurs after July 19, 2022 and before August 19, 2022,