Zero Coupon Bond Sample Clauses

Zero Coupon Bond. The Principal Amount shall be secured by the Company's pledge of one or more non-callable United States government zero coupon securities whether one or more, (the "Zero Coupon Bond"). On or before the date a Security is issued pursuant to this Agreement, the Company shall purchase the Zero Coupon Bond and perfect the Trustee's security interest therein through either (i) delivery to the Trustee of a certificated security representing ownership of the Zero Coupon Bond, along with an appropriate security power therefor, or (ii) designation of the Trustee as the entitlement holder (as such term is defined in Section 8.102 of the TBCC) with respect to the Zero Coupon Bond on behalf of the Holders pursuant to this Agreement, which designation shall be accomplished through the issuance of an appropriate entitlement order (as such term is defined in Section 8.102(a)(8) of the TBCC) and any other instrument reasonably requested by the issuer of the Zero Coupon Bond and/or the Trustee. The parties acknowledge that evidence of the Company's purchase of the Zero Coupon Bond may be provided in the form of a certificate reflecting Company ownership thereof or a letter issued by a governmental agency or institutional depositor confirming a book-entry credit in such agency's or entity's books and records in favor of the Company and, in such regard, the parties agree to take all reasonable and necessary steps to insure that the Trustee receives a perfected security interest in the Zero Coupon Bond in accordance with applicable law (which shall be the law of the State of Texas unless expressly required to be that of the state in which the issuer is located). The Zero Coupon Bond shall secure payment of the Company's obligations hereunder and, in the event of the Company's default and failure to pay obligations due Holders when due hereunder, the Trustee shall, subject to the provisions of Article 6 hereof, collect the proceeds thereof and distribute the same, first, to the Holders (pro rata, if necessary, in accordance with the Company's obligations), and second, the remainder, if any, to the Company.
View SourceView Similar (2)

Related to Zero Coupon Bond

  • Late payment on Zero Coupon Notes If the amount payable in respect of any Zero Coupon Note upon redemption of such Zero Coupon Note pursuant to paragraph (a), (b), (c) or (d) above or upon its becoming due and repayable as provided in Condition 11 is improperly withheld or refused, the amount due and repayable in respect of such Zero Coupon Note shall be the amount calculated as provided in paragraph (e)(iii) above as though the references therein to the date fixed for the redemption or the date upon which such Zero Coupon Note becomes due and payable were replaced by references to the date which is the earlier of: (i) the date on which all amounts due in respect of such Zero Coupon Note have been paid; and (ii) five days after the date on which the full amount of the moneys payable in respect of such Zero Coupon Notes has been received by the Principal Paying Agent or the Registrar and notice to that effect has been given to the Noteholders in accordance with Condition 15.

  • Discount Notes If this Note is specified on the face hereof as a “Discount Note”:

  • Fixed Rate Notes If this Note is specified on the face hereof as a “Fixed Rate Note”: (i) This Note will bear interest at the rate per annum specified on the face hereof. Interest on this Note will be computed on the basis of a 360-day year of twelve 30-day months. (ii) Unless otherwise specified on the face hereof, the Interest Payment Dates for this Note will be as follows:

  • Floating Rate Notes If this Note is specified on the face hereof as a “Floating Rate Note”:

  • Payment of Debt Securities Called for Redemption If notice of redemption has been given as provided in Section 3.02, the Debt Securities or portions of Debt Securities of the series with respect to which such notice has been given shall become due and payable on the date and at the Place or Places of Payment stated in such notice at the applicable redemption price, together with any interest accrued to the date fixed for redemption, and on and after said date (unless the Issuers shall default in the payment of such Debt Securities at the applicable redemption price, together with any interest accrued to said date) any interest on the Debt Securities or portions of Debt Securities of any series so called for redemption shall cease to accrue, and any original issue discount in the case of Original Issue Discount Securities shall cease to accrue. On presentation and surrender of such Debt Securities at the Place or Places of Payment in said notice specified, the said Debt Securities or the specified portions thereof shall be paid and redeemed by the Issuers at the applicable redemption price, together with any interest accrued thereon to the date fixed for redemption. Any Debt Security that is to be redeemed only in part shall be surrendered at the Place of Payment with, if the Issuers, the Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Issuers, the Registrar and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing, and the Issuers shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security without service charge, a new Debt Security or Debt Securities of the same series, of like tenor and form, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Debt Security so surrendered; except that if a Global Security is so surrendered, the Issuers shall execute, and the Trustee shall authenticate and deliver to the Depositary for such Global Security, without service charge, a new Global Security in a denomination equal to and in exchange for the unredeemed portion of the principal of the Global Security so surrendered. In the case of a Debt Security providing appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of delivering a new Debt Security or Debt Securities as aforesaid, may make a notation on such Debt Security of the payment of the redeemed portion thereof.