Redemption, etc Clause Samples
The 'Redemption, etc' clause defines the terms and conditions under which a party, typically an investor or shareholder, can require the company to repurchase or redeem their shares or interests. This clause usually specifies the timing, price, and process for redemption, such as allowing redemption after a certain period or upon the occurrence of specific events, and may outline any limitations or penalties associated with early redemption. Its core practical function is to provide an exit mechanism for investors, ensuring they have a clear path to recover their investment under agreed-upon circumstances, thereby managing risk and enhancing investment certainty.
Redemption, etc. Following the issuance thereof, MCC will not, nor will it permit any of its Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, any Permitted Indebtedness, except for regularly scheduled payments or prepayments of principal and interest in respect thereof required pursuant to the instruments evidencing such Permitted Indebtedness, provided that so long as at the time thereof and after giving effect thereto no Default shall have occurred and be continuing, MCC may prepay any of the Indebtedness issued in accordance with clause (B) of paragraph (a) above.
Redemption, etc. (a) The Agency may exercise its option under Section 2.03 of the Fiscal Agent Agreement to cause the conversion of the Bonds to a different Interest Rate Mode on any Interest Payment Date prior to the Mandatory Purchase Date and the payment to the Bank of 100% of the principal amount of the Bonds plus accrued interest to the conversion date by giving or causing the Fiscal Agent to give one hundred twenty (120) days’ prior written notice to the Bank and complying with the provisions of the Fiscal Agent Agreement applicable thereto.
(b) The Agency may exercise its option under Section 4.01(a)(v) of the Fiscal Agent Agreement to cause the redemption of the Bonds on any Interest Payment Date prior to the Mandatory Purchase Date at a redemption price equal to 100% of the principal amount thereof plus accrued interest to the redemption date by giving or causing the Fiscal Agent to give one hundred twenty (120) days’ prior written notice to the Bank and complying with the provisions of the Fiscal Agent Agreement applicable thereto.
(c) The Agency shall cause the mandatory redemption of the Bonds to occur in the amounts and at the times specified in Sections 4.01(b) and (c), respectively, of the Fiscal Agent Agreement. The redemption schedule of Section 4.01(b) is attached hereto and incorporated herein as Exhibit A.
(d) The Agency promptly shall notify the Bank of the amount of any redemption of any Bonds, together with the date of each such redemption.
(e) In the case of a conversion (as described in subsection (a)) or a redemption (as described in subsection (b)), the Agency shall adhere to the notice requirements set forth in such subsections and shall pay to the Bank the principal and interest amounts set forth in such subsections and, in addition, shall pay to the Bank the Optional Prepayment Breakage Fee as calculated by the Bank.
Redemption, etc. In the event of a redemption or any other --------------- similar transaction (e.g., tender made and accepted in response to an invitation of the Buyer or its Affiliates) necessitating a reduction in the aggregate principal amount of Global Securities outstanding or an advance refunding of part of the Global Securities outstanding, the Depositary, in its discretion: (a) may request Buyer to issue and authenticate a new Global Security; or (b) may make an appropriate notation on the Global Security indicating the date and amount of such reduction in principal except in the case of final maturity, in which case the certificate will be presented to Buyer prior to payment, if required.
Redemption, etc of prior Security Interests If there are any Security Interests having priority to the security contained in or intended to be created by or pursuant to this Security Agreement in respect of all or any part of the Security Assets then:
(a) if any proceedings or steps are being taken to exercise or enforce any powers or remedies conferred by such prior Security Interest against the Security Assets, the Collateral Agent or any Receiver may (but without prejudice to any rights the Collateral Agent or the Receiver may have under statute) redeem such prior charge or procure the transfer of such prior charge to itself or himself, as the case may be, and may settle and pass the accounts of the prior chargee and any account so settled and passed shall be conclusive and binding on the relevant Chargor(s) and the principal, interest, costs, charges and expenses of and incidental to such redemption or transfer shall be paid by the relevant Chargor(s) to the Collateral Agent on demand with interest in accordance with Clause 2.2 (Interest) and, until payment, the Security Assets shall stand secured with the amount to be so paid; and
(b) all the powers, authorities and discretions conferred by a prior charge upon the chargee or any receiver under such prior charge shall be exercisable by the Collateral Agent or a Receiver in like manner as if the same were expressly included herein and the Collateral Agent or a Receiver shall be entitled to exercise all the powers, authorities and discretions of an administrative receiver, receiver, manager or receiver and manager appointed under such prior charge.
Redemption, etc. (a) The Agency may exercise its option under Section [ ] of the Fiscal Agent Agreement to cause the conversion of the Bonds on any Interest Payment Date occurring prior to the Mandatory Purchase Date and the payment to the Bank of 100% of the principal amount of the Bonds plus accrued interest to the conversion date by giving or causing the Fiscal Agent to give thirty (30) days’ prior written notice to the Bank and complying with the provisions of the Fiscal Agent Agreement applicable thereto.
(b) The Agency may exercise its option under Section [ ] of the Fiscal Agent Agreement to cause the redemption of the Bonds on any Interest Payment Date occurring prior to the Mandatory Purchase Date at a redemption price equal to 100% of the principal amount thereof plus accrued interest to the redemption date by giving or causing the Fiscal Agent to give thirty (30) days’ prior written notice to the Bank and complying with the provisions of the Fiscal Agent Agreement applicable thereto.
(c) The Agency promptly shall notify the Bank of the amount of any redemption of any Bonds, together with the date of each such redemption.
Redemption, etc. 27 --------------- Section 5.7. Certificated Securities .......................... 27 ----------------------- Section 5.8. Notice to Beneficial Owners ...................... 27 --------------------------- Section 5.9. Depositary as Proxy for Beneficial Owners ....