Common use of Optional Redemption; Purchases upon Change of Control Triggering Event Clause in Contracts

Optional Redemption; Purchases upon Change of Control Triggering Event. (a) This Security is redeemable, prior to the Par Call Date, in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to the greater of (1) 100% of the principal amount of this Security to be redeemed, or (2) the sum of the present values of the remaining scheduled payments of principal and interest on this Security that would have been due if this Security matured on the Par Call Date (exclusive of interest accrued to the Redemption Date) computed by discounting such payments to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of 50 basis points plus the Adjusted Treasury Rate on the third Business Day prior to, but excluding, the Redemption Date, as calculated by the Independent Investment Banker, plus, in either case, accrued and unpaid interest hereon, if any, up to, but excluding, the Redemption Date (subject to the right of the holder of record of this Security on the relevant record date to receive interest on the relevant Interest Payment Date as provided in Section 10.04 of the Indenture). Commencing on the Par Call Date, this Security is redeemable in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to 100% of the principal amount of this Security to be redeemed, plus accrued and unpaid interest hereon up to, but excluding, the Redemption Date (subject to the right of the holder of record of this Security on the relevant record date to receive interest on the relevant Interest Payment Date as provided in Section 10.04 of the Indenture).

Appears in 2 contracts

Sources: Indenture (Nabors Industries LTD), Indenture (Nabors Industries LTD)

Optional Redemption; Purchases upon Change of Control Triggering Event. (a) This Security is redeemablePrior to December 15, prior to 2024, the Par Call DateCompany may redeem the Notes, in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to the greater of of: (1i) 100% of the principal amount of this Security the Notes to be redeemed, ; or (2ii) the sum of the present values values, as calculated by the Independent Investment Banker, of the remaining scheduled payments of principal and interest on this Security that would have been due if this Security matured on the Par Call Date thereon (exclusive of the interest accrued to the Redemption Datedate of redemption) computed by discounting such payments to the Redemption Date redemption date on a semi-annual basis (basis, assuming a 360-day year consisting of twelve 30-day months) , at a rate equal to the sum of 50 basis points plus the Adjusted Treasury Rate on the third Business Day prior tofor such Notes plus 40 basis points, but excluding, the Redemption Date, as calculated by the Independent Investment Banker, plus, in either case, plus accrued and unpaid interest hereoninterest, if any, up to, but excluding, the Redemption Date (subject to the right of the holder Holders of record of this Security on the relevant record date to receive interest due on the relevant Interest Payment Date as provided in Section 10.04 of the IndentureDate). Commencing on On or after December 15, 2024, the Par Call Date, this Security is redeemable Company may redeem the Notes in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to 100% of the principal amount of this Security the Notes to be redeemed, plus accrued and unpaid interest hereon up thereon to, but excluding, the Redemption Date (subject to the right of the holder Holders of record of this Security on the relevant record date to receive interest due on the relevant Interest Payment Date as provided Date). The Notes may also be redeemed in certain circumstances described in Section 10.04 4.03(d) of the First Supplemental Indenture. (b) Upon the occurrence of a Change of Control Triggering Event, each holder of Notes will have the right to require the Company to purchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of the holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), subject to the limitations set forth in the Indenture.

Appears in 2 contracts

Sources: First Supplemental Indenture (Helmerich & Payne, Inc.), First Supplemental Indenture (Helmerich & Payne Inc)

Optional Redemption; Purchases upon Change of Control Triggering Event. (a) This Security is redeemablePrior to June 29, prior to 2031, the Par Call DateCompany may redeem the Notes, in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to the greater of of: (1i) 100% of the principal amount of this Security the Notes to be redeemed, redeemed; or (2ii) the sum of the present values values, as calculated by the Independent Investment Banker, of the remaining scheduled payments of principal and interest on this Security that would have been due if this Security matured on the Par Call Date thereon (exclusive of the interest accrued to the Redemption Date) computed by discounting such payments to the Redemption Date on a semi-annual basis (basis, assuming a 360-day year consisting of twelve 30-day months) , at a rate equal to the sum of 50 basis points plus the Adjusted Treasury Rate on the third Business Day prior to, but excluding, the Redemption Date, as calculated by the Independent Investment Bankerfor such Notes plus 25 basis points, plus, in either case, accrued and unpaid interest hereoninterest, if any, up to, but excluding, the Redemption Date (subject to the right of the holder Holders of record of this Security on the relevant record date to receive interest due on the relevant Interest Payment Date as provided in Section 10.04 of the IndentureDate). Commencing on On or after June 29, 2031, the Par Call Date, this Security is redeemable Company may redeem the Notes in whole at any time or in part from time to time, at the Company’s option, at a Redemption Price equal to 100% of the principal amount of this Security the Notes to be redeemed, plus accrued and unpaid interest hereon up thereon to, but excluding, the Redemption Date (subject to the right of the holder Holders of record of this Security on the relevant record date to receive interest due on the relevant Interest Payment Date as provided Date). The Notes may also be redeemed in certain circumstances described in Section 10.04 4.03(d) of the Second Supplemental Indenture. (b) Upon the occurrence of a Change of Control Triggering Event, each holder of Notes will have the right to require the Company to purchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of the holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment Date), subject to the limitations set forth in the Indenture.

Appears in 1 contract

Sources: Second Supplemental Indenture (Helmerich & Payne, Inc.)

Optional Redemption; Purchases upon Change of Control Triggering Event. (a) This Security is redeemable, prior to the Par Call Date, in whole or in part, at any time or in part from time prior to timeJune 15, 2023, at the Company’s option, at a Redemption Price equal to the greater of (1) 100% of the principal amount of this Security to be redeemedSecurity, or (2) the sum of the present values of the remaining scheduled payments of principal and interest on this Security that would have been due if this Security matured on the Par Call Date (exclusive of interest accrued to the Redemption Date) computed by discounting such payments to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a rate equal to the sum of 50 35 basis points plus the Adjusted Treasury Rate on the third Business Day prior to, but excluding, to the Redemption Date, as calculated by the Independent Investment Banker, plus, in either case, plus accrued and unpaid interest hereon, if any, hereon up to, but excludingnot including, the Redemption Date (subject to the right of the holder of record of this Security on the relevant record date to receive interest on the relevant Interest Payment Date as provided in Section 10.04 of the Indenture). Commencing on the Par Call DateIn addition, this Security is redeemable redeemable, in whole or in part, at any time on or in part from time to timeafter June 15, 2023, at the Company’s option, at a Redemption Price equal to 100% of the principal amount of this Security to be redeemedSecurity, plus accrued and unpaid interest hereon up to, but excludingnot including, the Redemption Date (subject to the right of the holder of record of this Security on the relevant record date to receive interest on the relevant Interest Payment Date as provided in Section 10.04 of the Indenture).

Appears in 1 contract

Sources: Indenture (Nabors Industries LTD)