Common use of Payments of Principal Clause in Contracts

Payments of Principal. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal, accrued and unpaid Interest. The “Maturity Date” shall be October [ ], 2014, except as may be extended at the option of the Holder (i) in the event that, and for so long as, an Event of Default (as defined in Section 4(a)) shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default and (ii) through the date that is ten (10) Business Days after the consummation of a Change of Control in the event that a Change of Control is publicly announced or a Change of Control Notice (as defined in Section 5(b)) is delivered prior to the Maturity Date. Notwithstanding the above, at any time prior to the Maturity Date, the Company may notify Holders of its election to redeem all or part of the Bonds (a “Early Redemption Notice”) no more than 20 Business Days but not less than 5 Business Days prior to the proposed date of such redemption (the “Early Redemption Date”). On the Early Redemption Date, the Company shall redeem the principal amount of the Bonds specified in the Early Redemption Notice by paying in cash or by check to the Holder of this Bond as of the date of the Early Redemption Notice, an amount equal to (a) Principal amount of the Bonds being redeemed plus (b) the sum of any Make-Whole Amount and any accrued and unpaid Interest, in each case relating to portion of the Bond being redeemed (the “Early Redemption Price”). If the Company elects to redeem the Bonds in part (instead of in whole), then the Company shall pay to each Holder an amount equal to the product of (i) the Early Redemption Price multiplied by (ii) the fraction, the numerator of which is the outstanding principal amount of the Bond held by such Holder on the date of such Early Redemption Notice and the denominator of which is aggregate principal amount of Bonds held by all Holders as of date of such Early Redemption Notice.

Appears in 3 contracts

Samples: Convertible Bond Purchase Agreement, Convertible Bond Exchange Agreement (ThaiLin Semiconductor Corp.), Convertible Bond Purchase Agreement (ThaiLin Semiconductor Corp.)

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Payments of Principal. (a) Provided there is no Default and the Holder has not elected either the Fundamental Change Option pursuant to Section 4 or the Dividend Recapitalization Option pursuant to Section 5, the entire unpaid Principal balance of the Note (together with any accrued and unpaid Interest thereon in respect of the period commencing on the last Interest Payment Date prior to the Maturity Date, and ending on the Maturity Date) will be due and payable on the Maturity Date. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all the entire outstanding Principal, accrued and unpaid Interest. The “Maturity Date” shall be October [ ], 2014, except as may be extended at the option Principal balance of the Holder Note (i) in the event that, and for so long as, an Event of Default (as defined in Section 4(a)) shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that together with the passage of time and the failure to cure would result in an Event of Default and (ii) through the date that is ten (10) Business Days after the consummation of a Change of Control in the event that a Change of Control is publicly announced or a Change of Control Notice (as defined in Section 5(b)) is delivered prior to the Maturity Date. Notwithstanding the above, at any time prior to the Maturity Date, the Company may notify Holders of its election to redeem all or part of the Bonds (a “Early Redemption Notice”) no more than 20 Business Days but not less than 5 Business Days prior to the proposed date of such redemption (the “Early Redemption Date”). On the Early Redemption Date, the Company shall redeem the principal amount of the Bonds specified in the Early Redemption Notice by paying in cash or by check to the Holder of this Bond as of the date of the Early Redemption Notice, an amount equal to (a) Principal amount of the Bonds being redeemed plus (b) the sum of any Make-Whole Amount and any accrued and unpaid Interest, ) in each case relating to portion (i) cash or (ii) at the election of the Bond being redeemed Holder, shares of common stock, par value US$0.003 per share (the “Early Redemption PriceCommon Stock) of the Company, subject to the last sentence of this Section 1(a). If the Holder delivers a written notice to the Company elects to redeem on or before the Bonds Maturity Date requesting that payment of the entire outstanding Principal balance of the Note (together with any accrued and unpaid Interest) be made in part (instead of in whole)Common Stock, then the Company shall convert the Conversion Amount (as defined below) due on the Maturity Date into fully paid and nonassessable shares of Common Stock at the Conversion Rate (as defined below), subject to the last sentence of this Section 1(a). If the Holder makes an election as described in this Section 1(a), the Company shall be entitled to (i) deliver shares of Common Stock to the Holder, (ii) pay to each the Holder an amount in cash equal to the product of market price (i) the Early Redemption Price multiplied by (ii) the fractionor, if no such market price exists, the numerator fair market value) (as determined in good faith by the Board of which is the outstanding principal amount Directors, whose good faith determination shall be conclusive and described in a resolution of the Bond held by such Holder Board of Directors) (as to any securities or other property, the “Fair Market Value”) of the Common Stock on the date of such Early Redemption Notice and the denominator of which is aggregate principal amount of Bonds held by all Holders as of date of such Early Redemption Notice.Maturity Date, or (iii) any combination thereof. 4 Rule 144A Note CUSIP: 16411R AF6 Rule 144A Note ISIN: US16411RAF64 Regulation S Note CUSIP: U16344 AB6 Regulation S Note ISIN: USU16344AB68 5 Include in Global Notes 6 Include in Global Notes

Appears in 2 contracts

Samples: Indenture (Cheniere Energy Inc), Subscription Agreement (Cheniere Energy Inc)

Payments of Principal. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges, if any, on such Principal and Interest. The “Maturity Date” shall be October [ ]December 21, 20142011; provided, except however, if the Company has not consummated a Qualified Financing Transaction (as defined below) on or before September 30, 2010, then the Maturity Date shall automatically be restored to its original date of December 21, 2010 without further notice or action by the Holder; and, provided further the Maturity Date may be extended at the option of the Holder (i) in the event that, and for so long as, an Event of Default (as defined in Section 4(a)) shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event that shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default and (ii) through the date that is ten (10) Business Days after the consummation of a Change of Control in the event that a Change of Control is publicly announced or a Change of Control Notice (as defined in Section 5(b)) is delivered prior to the Maturity Date. Other than as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal, accrued and unpaid Interest or accrued and unpaid Late Charges on Principal and Interest, if any. Notwithstanding any provision of this Section 1 to the abovecontrary, the Holder may, at any time its option and in its sole discretion, deliver a written notice to the Company at least two (2) days prior to the Maturity Date, Date electing to have the Company may notify Holders payment of its election to redeem all or part of the Bonds (a “Early Redemption Notice”) no more than 20 Business Days but not less than 5 Business Days prior to the proposed date of such redemption (the “Early Redemption Date”). On the Early Redemption Date, the Company shall redeem the principal amount of the Bonds specified in the Early Redemption Notice by paying in cash or by check to the Holder of this Bond as of the date of the Early Redemption Notice, an amount equal to (a) Principal amount of the Bonds being redeemed plus (b) the sum of any Make-Whole Amount and any accrued and unpaid Interest, in each case relating to portion of the Bond being redeemed Principal and Interest payable on the Maturity Date deferred (such amount deferred, the “Early Redemption PriceDeferral Amount)) up to a date that is two (2) years after the Maturity Date, which date shall thereafter be the “Maturity Date” for all purposes hereunder. If Any notice delivered by the Company elects Holder pursuant to redeem the Bonds in part (instead of in whole), then the Company this Section 1 shall pay to each Holder an amount equal to the product of set forth (i) the Early Redemption Price multiplied by Deferral Amount and (ii) the fractiondate that such Deferral Amount shall now be payable. For purposes of this Note, the numerator term "Qualified Financing Transaction" shall mean one or more or a series of financing transactions in which is the outstanding principal amount Company raises gross proceeds not less than $6,000,000 (Six Million Dollars) pursuant to the issuance of the Bond held by equity securities provided that such Holder on the date of such Early Redemption Notice and the denominator of which is aggregate principal amount of Bonds held by securities are junior in all Holders as of date of such Early Redemption Noticerights to this Note.

Appears in 1 contract

Samples: Amendment and Extension Agreement (Broadcast International Inc)

Payments of Principal. (a) Provided there is no Default and the Holder has not elected either the Fundamental Change Option pursuant to Section 4 or the Dividend Recapitalization Option pursuant to Section 5, the entire unpaid Principal balance of the Note (together with any accrued and unpaid Interest thereon in respect of the period commencing on the last Interest Payment Due Date prior to the Maturity Date, and ending on the Maturity Date) will be due and payable on the Maturity Date. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all the entire outstanding Principal, accrued and unpaid Interest. The “Maturity Date” shall be October [ ], 2014, except as may be extended at the option Principal balance of the Holder Note (i) in the event that, and for so long as, an Event of Default (as defined in Section 4(a)) shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that together with the passage of time and the failure to cure would result in an Event of Default and (ii) through the date that is ten (10) Business Days after the consummation of a Change of Control in the event that a Change of Control is publicly announced or a Change of Control Notice (as defined in Section 5(b)) is delivered prior to the Maturity Date. Notwithstanding the above, at any time prior to the Maturity Date, the Company may notify Holders of its election to redeem all or part of the Bonds (a “Early Redemption Notice”) no more than 20 Business Days but not less than 5 Business Days prior to the proposed date of such redemption (the “Early Redemption Date”). On the Early Redemption Date, the Company shall redeem the principal amount of the Bonds specified in the Early Redemption Notice by paying in cash or by check to the Holder of this Bond as of the date of the Early Redemption Notice, an amount equal to (a) Principal amount of the Bonds being redeemed plus (b) the sum of any Make-Whole Amount and any accrued and unpaid Interest, ) in each case relating to portion (i) cash or (ii) at the election of the Bond being redeemed Holder, shares of common stock, par value US$0.003 per share (the “Early Redemption PriceCommon Stock) of the Company. If the Holder delivers a written notice to the Company on or before the Maturity Date requesting that payment of the entire outstanding Principal balance of the Note (together with any accrued and unpaid Interest) be made in Common Stock, the Company shall convert the Conversion Amount (as defined below) due on the Maturity Date into fully paid and nonassessable shares of Common Stock at the Conversion Rate (as defined below). If the Company elects to redeem the Bonds Holder makes an election as described in part (instead of in wholethis Section 1(a), then the Company shall be entitled to (i) deliver shares of Common Stock to the Holder, (ii) pay to each the Holder an amount in cash equal to the product of market price (i) the Early Redemption Price multiplied by (ii) the fractionor, if no such market price exists, the numerator fair market value) (as determined in good faith by the Board of which is the outstanding principal amount Directors, whose good faith determination shall be conclusive and described in a resolution of the Bond held by such Holder Board of Directors) (as to any securities or other property, the “Fair Market Value”) of the Common Stock on the date of such Early Redemption Notice and the denominator of which is aggregate principal amount of Bonds held by all Holders as of date of such Early Redemption NoticeMaturity Date, or (iii) any combination thereof.

Appears in 1 contract

Samples: Subscription Agreement (Cheniere Energy Inc)

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Payments of Principal. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing all outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges, if any, on such Principal and Interest. The “Maturity Date” shall be October [ ]June 21, 20142012; provided, except however, if the Company has not consummated a Qualified Financing Transaction (as defined below) on or before December 31, 2010, then the Maturity Date shall automatically become December 31, 2010 without further notice or action by the Holder; and, provided further the Maturity Date may be extended at the option of the Holder (i) in the event that, and for so long as, an Event of Default (as defined in Section 4(a)) shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event that shall have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default and (ii) through the date that is ten (10) Business Days after the consummation of a Change of Control in the event that a Change of Control is publicly announced or a Change of Control Notice (as defined in Section 5(b)) is delivered prior to the Maturity Date. Other than as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal, accrued and unpaid Interest or accrued and unpaid Late Charges on Principal and Interest, if any. Notwithstanding any provision of this Section 1 to the abovecontrary, the Holder may, at any time its option and in its sole discretion, deliver a written notice to the Company at least two (2) days prior to the Maturity Date, Date electing to have the Company may notify Holders payment of its election to redeem all or part of the Bonds (a “Early Redemption Notice”) no more than 20 Business Days but not less than 5 Business Days prior to the proposed date of such redemption (the “Early Redemption Date”). On the Early Redemption Date, the Company shall redeem the principal amount of the Bonds specified in the Early Redemption Notice by paying in cash or by check to the Holder of this Bond as of the date of the Early Redemption Notice, an amount equal to (a) Principal amount of the Bonds being redeemed plus (b) the sum of any Make-Whole Amount and any accrued and unpaid Interest, in each case relating to portion of the Bond being redeemed Principal and Interest payable on the Maturity Date deferred (such amount deferred, the “Early Redemption PriceDeferral Amount)) up to a date that is two (2) years after the Maturity Date, which date shall thereafter be the “Maturity Date” for all purposes hereunder. If Any notice delivered by the Company elects Holder pursuant to redeem the Bonds in part (instead of in whole), then the Company this Section 1 shall pay to each Holder an amount equal to the product of set forth (i) the Early Redemption Price multiplied by Deferral Amount and (ii) the fractiondate that such Deferral Amount shall now be payable. For purposes of this Note, the numerator term "Qualified Financing Transaction" shall mean one or more or a series of financing transactions in which is the outstanding principal amount Company raises gross proceeds not less than $8,000,000 (Eight Million Dollars) pursuant to the issuance of equity securities provided that such securities are junior in all rights to this Note and are otherwise issued on terms satisfactory to the Bond held by such Holder on the date of such Early Redemption Notice and the denominator of which is aggregate principal amount of Bonds held by all Holders as of date of such Early Redemption Noticein its sole discretion.

Appears in 1 contract

Samples: Fifth Amendment and Extension Agreement (Broadcast International Inc)

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