Common use of Special Redemption Clause in Contracts

Special Redemption. In the event the Company completes one or more Public Equity Offerings on or before February 15, 2006, the Company, at its option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111% of the principal amount, together with accrued and unpaid interest and Additional Interest (if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 2 contracts

Samples: Anchor Glass Container Corp /New, Indenture (Anchor Glass Container Corp /New)

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Special Redemption. In the event the Company completes one or more Public Equity Offerings on or before February 15, 2006, the Company, at its option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111% of the principal amount, together with accrued and unpaid interest and Additional Interest (interest, if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 2 contracts

Samples: Anchor Glass Container Corp /New, Indenture (Anchor Glass Container Corp /New)

Special Redemption. In the event the Company completes one or more Public Equity Offerings on or before February 15December 1, 20062005, the Company, at its option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111109.750% of the principal amountamount thereof, together with accrued and unpaid interest and Additional Interest (if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Granite Broadcasting Corp

Special Redemption. In the event the Company completes Issuers complete one or more Public Equity Offerings on or before February 15May 17, 20062008, the CompanyIssuers, at its their option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111110.25% of the principal amount, together with accrued and unpaid interest and Additional Interest (if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Listerhill Total Maintenance Center LLC)

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Special Redemption. In the event the Company completes Issuers complete one or more Public Equity Offerings on or before February May 15, 20062007, the CompanyIssuers, at its their option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111110.25% of the principal amount, together with accrued and unpaid interest and Additional Interest (if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Indenture (Listerhill Total Maintenance Center LLC)

Special Redemption. In the event the Company completes one or more Public Equity Offerings on or before February 15December 1, 20062005, the Company, at its option, may use the net cash proceeds from any such Public Equity Offering to redeem up to 35% of the original principal amount of the Notes (a "Special Redemption") at a Redemption Price of 111109.750% of the principal amount, together with accrued and unpaid interest and Additional Interest (if any), to the date of redemption; provided, however, that at least 65% of the original principal amount of the Notes will remain outstanding immediately after any such redemption; and provided, further, that such redemption shall occur within 90 days after the date of the closing of any such Public Equity Offering. If less than all the Notes are to be redeemed, the Trustee will select the particular Notes or portions thereof to be redeemed either: (1) in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed; or (2) by lot, only on a pro rata basis or on as nearly a pro rata basis as is practicable (subject to DTC procedures).

Appears in 1 contract

Samples: Granite Broadcasting Corp

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