Surrender, Etc. In the case of each redemption of Notes pursuant to Section 8.2, subject to the last sentence of Section 8.2(c) and the ability of the Company to revoke a redemption notice at any time prior to the redemption date with respect to any optional redemption pursuant to Section 8.2(b), the principal amount of each Note to be redeemed shall mature and become due and payable on the date fixed for such redemption, together with accrued interest on such principal amount accrued to, but not including, such date and the applicable redemption premium as of the date of such redemption, if any. From and after such date, unless the Company shall have revoked the redemption notice or shall have failed to pay such redemption price, interest on such principal amount shall cease to accrue. Any Note redeemed in full or in part shall be surrendered to the Company on or prior to the redemption date and cancelled and shall not be reissued, and no Note shall be issued in lieu of any redeemed principal amount of any Note and, in the case of Notes redeemed in part, the Company shall issue a new Note to the holder thereof for the unredeemed portion of the Note surrendered.
Appears in 1 contract
Sources: Note and Warrant Exchange Agreement (Kingstone Companies, Inc.)
Surrender, Etc. In the case of each redemption prepayment of Notes pursuant to Section 8.2, subject to the last sentence of Section 8.2(c) and the ability of the Company to revoke a redemption prepayment notice at any time prior to the redemption prepayment date with respect to any optional redemption prepayment pursuant to Section 8.2(b), the principal amount of each Note to be redeemed prepaid shall mature and become due and payable on the date fixed for such redemptionprepayment, together with accrued interest on such principal amount accrued to, but not including, such date and the applicable redemption premium as of the date of such redemption, if anydate. From and after such date, unless the Company shall have revoked the redemption prepayment notice or shall have failed to pay such redemption prepayment price, interest on such principal amount shall cease to accrue. Any Note redeemed prepaid in full or in part shall be surrendered to the Company on or prior to the redemption prepayment date and cancelled and shall not be reissued, and no Note shall be issued in lieu of any redeemed prepaid principal amount of any Note and, in the case of Notes redeemed prepaid in part, the Company shall issue a new Note to the holder thereof for the unredeemed unpaid portion of the Note surrendered.
Appears in 1 contract
Sources: Note Exchange Agreement (Kingstone Companies, Inc.)
Surrender, Etc. In the case of each redemption of Notes pursuant to Section 8.2, subject to the last sentence of the Section 8.2(c) 8.2 and the ability of the Company to revoke a redemption notice at any time prior to the redemption date with respect to any optional redemption pursuant to Section 8.2(b8.2(a), the principal amount of each Note to be redeemed shall mature and become due and payable on the date fixed for such redemption, together with accrued interest (including applicable default interest, if any) on such principal amount accrued to, but not including, to such date and the applicable redemption premium Make-Whole Amount as of the date of such redemption, if any. From and after such date, unless the Company shall have revoked the redemption notice or shall have failed to pay such redemption priceprincipal amount when so due and payable, together with the interest (including applicable default interest, if any) and Make-Whole Amount, if any, interest on such principal amount shall cease to accrue. Any Note redeemed in full or in part shall be surrendered to the Company on or prior to the redemption date and cancelled and shall not be reissued, and no Note shall be issued in lieu of any redeemed principal amount of any Note and, in the case of Notes redeemed in part, the Company shall issue a new Note to the holder thereof for the unredeemed portion of the Note surrendered.
Appears in 1 contract
Sources: Note and Warrant Purchase Agreement (Ocwen Financial Corp)