Term Redemption Sample Clauses
The Term Redemption clause defines the conditions under which a party, typically an issuer or borrower, can redeem or repay an obligation before its scheduled maturity date. This clause outlines the timing, procedures, and any applicable penalties or premiums for early redemption, such as allowing a company to buy back bonds from investors after a certain period. Its core practical function is to provide flexibility for the redeeming party to manage financial obligations proactively, while also protecting the interests of the other party by specifying clear terms and potential compensation for early repayment.
Term Redemption. Subject to Section 2.6(d)(v), the Fund shall redeem all RVMTP Shares of a Series then Outstanding on the Term Redemption Date for such Series, out of funds legally available therefor under applicable law, at a price per share equal to the Liquidation Preference per share of such Series plus an amount equal to all unpaid dividends and other distributions on such share of such Series accumulated from and including the Date of Original Issuance to (but excluding) the Term Redemption Date for such Series (whether or not earned or declared by the Fund, but excluding interest thereon) (the “Term Redemption Price”); provided, however, that the Term Redemption Date for such Series of RVMTP Shares may be extended pursuant to Section 2.6(a)(ii) or Section 2.6(a)(iii) below.
Term Redemption. (i) Subject to Section 2.5(d)(v), the Fund shall redeem all VMTP Shares of a Series on the Term Redemption Date for such Series, out of funds legally available therefor under applicable law, at a price per share equal to the Liquidation Preference per share of such Series plus an amount equal to all unpaid dividends and other distributions on such share of such Series accumulated from and including the Date of Original Issue to (but excluding) the Term Redemption Date for such Series (whether or not earned or declared by the Fund, but excluding interest thereon) (the “Term Redemption Price”); provided, however, that the Term Redemption Date for such Series of VMTP Shares may be extended pursuant to Section 2.5(a)(ii) or Section 2.5(a)(iii) below.
(ii) (A) The Fund shall have the right, exercisable not more than three hundred and sixty-five (365) calendar days nor less than one hundred and twenty (120) calendar days prior to the Term Redemption Date of a Series of VMTP Shares, to request by notice (accompanied by a No Adverse Effect Opinion) that each Designated Owner of such VMTP Shares extend the Term Redemption Date for such Series of VMTP Shares by at least an additional three hundred and sixty-five (365) calendar days (a “Designated Owner Term Extension Request”), which request may be conditioned upon terms and conditions that are different from the terms and conditions set forth herein or in the Appendix applicable to such Series of VMTP Shares.
Term Redemption. The Partnership shall redeem, out of funds legally available therefor, all Series C Term Preferred Units on January 31, 2017 (the “Term Redemption Date”), at a price per unit equal to the liquidation preference per Series C Term Preferred Unit plus an amount equal to all unpaid distributions on such Series C Term Preferred Unit accumulated to (and including) the Term Redemption Date (whether or not earned or declared by the Partnership, but excluding interest thereon) (the “Term Redemption Price”).