Common use of Optional Redemption of the Notes Clause in Contracts

Optional Redemption of the Notes. Section 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on the Notes being redeemed, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 basis points plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 2 contracts

Samples: White Mountains Insurance Group LTD, OneBeacon Insurance Group, Ltd.

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Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to March 15, 2011, discounted to the redemption date on a semiannual basis (assuming a 360-360 day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 25 basis points points, plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 2 contracts

Samples: Senior Indenture (Clear Channel Communications Inc), Senior Indenture (Clear Channel Communications Inc)

Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to December 15, 2016, discounted to the redemption date on a semiannual basis (assuming a 360-360 day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 30 basis points points, plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 1 contract

Samples: Senior Indenture (Clear Channel Communications Inc)

Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to January 15, 2010, discounted to the redemption date on a semiannual basis (assuming a 360-360 day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 20 basis points points, plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 1 contract

Samples: Senior Indenture (Clear Channel Communications Inc)

Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to September 15, 2014, discounted to the redemption date on a semiannual basis (assuming a 360-360 day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 25 basis points points, plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 1 contract

Samples: Senior Indenture (Clear Channel Communications Inc)

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Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to March 15, 2012, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 20 basis points points, plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 1 contract

Samples: Senior Indenture (Clear Channel Communications Inc)

Optional Redemption of the Notes. Section SECTION 2.01. The Notes will be redeemable as a whole at any time or in part from time to time, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the such Notes being redeemed or and (ii) the sum of the present values of the remaining scheduled payments of principal and interest (other than accrued interest) on thereon from the Notes being redeemedredemption date to May 15, 2009, discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 50 25 basis points plus, in either case, any interest accrued but not paid to the date of redemption. Notice of any redemption will be mailed at least 30 days but no more than 60 days before the redemption date to each holder of the Notes to be redeemed. Unless the Company defaults in payment of the redemption price, on and after the redemption date interest will cease to accrue on the Notes or portions thereof called for redemption. The Notes will not be subject to any sinking fund provision.

Appears in 1 contract

Samples: Senior Indenture (Clear Channel Communications Inc)

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