Common use of Optional Redemption Due to Changes in Tax Treatment Clause in Contracts

Optional Redemption Due to Changes in Tax Treatment. Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Subordinated Debt Securities and subject to Section 11.11 below, the Subordinated Debt Securities of any series are redeemable, as a whole but not in part, at the option of the Company on not less than 30 calendar days nor more than 60 calendar days’ notice, at any time, at a redemption price equal to 100% of the principal amount, together with accrued but unpaid interest, if any, in respect of such series of Subordinated Debt Securities to the date fixed for redemption, if, at any time, the Company shall determine that as a result of a change in or amendment to the laws or regulations of the Taxing Jurisdiction (including any treaty to which such Taxing Jurisdiction is a party), or any change in an official application or interpretation of such laws or regulations (including a decision of any court or tribunal) which change or amendment becomes effective or applicable on or after a date included in the terms of such series of Subordinated Debt Securities pursuant to Section 3.01:

Appears in 3 contracts

Samples: Third Supplemental Indenture (Royal Bank of Scotland Group PLC), Second Supplemental Indenture (Royal Bank of Scotland Group PLC), First Supplemental Indenture (Royal Bank of Scotland Group PLC)

AutoNDA by SimpleDocs

Optional Redemption Due to Changes in Tax Treatment. Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Subordinated Debt Securities and subject to the conditions set out in Section 11.11 below, the Subordinated Debt Securities of any series are redeemable, as a whole but not in part, at the option of the Company on not less than 30 calendar days nor more than 60 calendar days’ notice, at any time, at a redemption price equal to 100% of the principal amount, together with accrued but unpaid interest, if any, in respect of such series of Subordinated Debt Securities to the date fixed for redemption, if, at any time, the Company shall determine that as a result of a change in or amendment to the laws or regulations of the Taxing Jurisdiction (including any treaty to which such Taxing Jurisdiction is a party), or any change in an official application or interpretation of such laws or regulations (including a decision of any court or tribunal) which change or amendment becomes effective or applicable on or after a date included in the terms of such series of Subordinated Debt Securities pursuant to Section 3.01:

Appears in 1 contract

Samples: Fourth Supplemental Indenture (Royal Bank of Scotland Group PLC)

AutoNDA by SimpleDocs

Optional Redemption Due to Changes in Tax Treatment. Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Subordinated Debt Capital Securities and subject to Section 11.11 belowsatisfaction of the Solvency Condition, the Subordinated Debt Capital Securities of any series are redeemable, as a whole but not in part, at the option of the Company Company, on not less than 30 calendar days nor more than 60 calendar days' notice, at on any timePayment Date, at a redemption price equal to 100% of the principal amount, together with accrued but unpaid interestPayments and all Missed Payments, if any, in respect of such series of Subordinated Debt Capital Securities to the date fixed for redemption, if, at any time, the Company shall determine that that, as a result of a change in or amendment to the laws or regulations of the Taxing Jurisdiction (including any treaty to which such Taxing Jurisdiction is a party), or any change in an the official application or interpretation of such laws or regulations (including a decision of any court or tribunal) which change or amendment becomes effective or applicable on or after a date included in the terms of such series of Subordinated Debt Capital Securities pursuant to Section 3.01:

Appears in 1 contract

Samples: Royal Bank of Scotland Group PLC

Time is Money Join Law Insider Premium to draft better contracts faster.