Common use of Redemption Premium Clause in Contracts

Redemption Premium. Should the Company redeem the Notes, in whole or in part, whether pursuant to Section 2.06(b) or Section 2.06(c), at any time prior to October 31, 2006, the Company shall be obligated to pay at the time of such redemption to each holder of the Notes an additional amount equal to the interest that, but for the redemption of the Notes, would have accrued on the outstanding principal amount of the Notes held by such holder so redeemed for the period from the date of redemption through and including October 31, 2006.

Appears in 1 contract

Sources: Senior Subordinated Secured Note and Warrant Purchase Agreement (Ecollege Com)

Redemption Premium. Should the Company redeem the Notes, in whole or in part, whether pursuant to Section 2.06(b) or Section 2.06(c2,06(c), at any time prior to October 31September 30, 20062005, the Company shall be obligated to pay at the time of such redemption to each holder of the Notes an additional amount equal to the interest that, but for the redemption of the Notes, would have accrued on the outstanding principal amount of the Notes held by such holder so redeemed for the period from the date of redemption through and including October 31September 30, 20062005.

Appears in 1 contract

Sources: Senior Subordinated Secured Note and Warrant Purchase Agreement (SoftBrands, Inc.)