Partial Call Clause Samples
A Partial Call clause allows an issuer to redeem only a portion of outstanding bonds or securities before their maturity date, rather than the entire issue. In practice, this means the issuer can select specific bonds or a percentage of the total to be repurchased, often through a random selection process or pro rata allocation among holders. This clause provides issuers with flexibility in managing debt obligations and can help them respond to changing financial conditions or interest rates, while also ensuring that the process for partial redemption is fair and transparent to investors.
Partial Call. In the event of a partial call by the Company pursuant to this Article 12, the aggregate principal amount of each call of Convertible Notes pursuant to Section 12.1 hereof, shall be allocated among the Convertible Notes at the time outstanding, in proportion, as nearly as practicable, to the respective unpaid principal amounts of such Convertible Notes.
Partial Call. In the event of a partial call by the Company pursuant to this Section 5, the aggregate Call Price shall be allocated among the Notes as to which the Call Price is being paid as provided herein, in proportion, as nearly as practicable, to the respective Call Prices for such Notes.
Partial Call. In the event of a partial call by the Company pursuant to this Article 12, the aggregate principal amount of each call of Convertible Debentures pursuant to Section 12.1 hereof, shall be allocate among the Convertible Debentures at the time outstanding, in proportion, as nearly as practicable, to the respective unpaid principal amounts of such Convertible Debentures.
Partial Call. Within two Business Days of the date hereof, the Company will pay to the Purchaser, subject to the Purchaser Agent providing the notice and instruction specified in the next succeeding sentence, a partial call payment of $50,000,000 in respect of the Partial Call (the “Partial Call Payment”). The Parties agree that such $50,000,000 payment shall be made by means of a transfer of such amount from the Blocked Account (as defined in Section 4.12 of the Security Agreement) as directed by Purchaser Agent to Silicon Valley Bank in accordance with that certain Blocked Deposit Account Control Agreement dated June 28, 2021 by and among the Company, the Purchaser Agent and Silicon Valley Bank (the “Blocked Account Control Agreement”). As a result of the Partial Call, the Cumulative Purchaser Payments shall be reduced to $177,777,777.78. For the avoidance of doubt, the payment in respect of the Partial Call shall not be treated as a Revenue Interest Payment for purposes of the RIPA.
Partial Call. In the case of any call of only part of the shares of Preferred Stock at the time outstanding, the shares to be called shall be selected either on a pro rata basis (as nearly as practicable without creating fractional shares) or by lot. Subject to the provisions hereof, the Board of Directors (or a duly authorized committee of the Board of Directors) shall have full power and authority to prescribe the terms and conditions on which shares of Preferred Stock shall be called from time to time. If the Corporation shall have issued certificates for Preferred Stock and fewer than all shares represented by any certificates are called, new certificates shall be issued representing the uncalled shares without charge to the Holders thereof.