Common use of Redemption and Distribution Clause in Contracts

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity or upon redemption (either at the option of the Sponsor or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price per Security equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon through the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 nor more than 60 days' notice of such redemption.

Appears in 2 contracts

Samples: Bay View Capital Corp, Nuevo Energy Co

AutoNDA by SimpleDocs

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity or upon redemption (either at the option of the Sponsor Debenture Issuer or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $ per Security plus an amount equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon through at the date of the redemption, payable in cash (the "β€œRedemption Price"”). Holders will be given not less than 30 nor more than 60 days' days notice of such redemption.

Appears in 1 contract

Samples: Trust Agreement (Allstate Financing X)

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity maturity, upon acceleration, earlier redemption or upon redemption (either at the option of the Sponsor or pursuant to a Special Event as described below)otherwise, the proceeds from such repayment or payment shall be simultaneously applied to redeem redeem, in cash, Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price per Security equal to the redemption price of such repaid or redeemed Debentures (as specified in the DebenturesIndenture and the Offering Memorandum), together with accrued and unpaid Distributions thereon through the date of the redemption, payable in cash redemption (the "Redemption Price"). Holders will be given not less than 30 nor more than 60 days' notice of such redemption.

Appears in 1 contract

Samples: American Equity Investment Life Holding Co

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity or upon redemption (either at the option of the Sponsor Debenture Issuer or pursuant to a Special Tax Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Trust Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price of $1,000 per Trust Security plus an amount equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon through at the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 nor more than 60 days' notice of such redemption.

Appears in 1 contract

Samples: Guarantee Agreement (Land O Lakes Inc)

AutoNDA by SimpleDocs

Redemption and Distribution. (a) Upon the repayment of the Debentures in whole or in part, whether at stated maturity or upon redemption (either at the option of the Sponsor Debenture Issuer or pursuant to a Special Event as described below), the proceeds from such repayment or payment shall be simultaneously applied to redeem Securities having an aggregate liquidation amount equal to the aggregate principal amount of the Debentures so repaid or redeemed at a redemption price per Security equal to the redemption price of the Debentures, together with accrued and unpaid Distributions thereon through the date of the redemption, payable in cash (the "Redemption Price"). Holders will be given not less than 30 20 nor more than 60 days' days notice of such redemption.

Appears in 1 contract

Samples: Exchange Agreement (Insignia Financial Group Inc /De/)

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