Additional Interest definition
Examples of Additional Interest in a sentence
If an Event of Default specified in Section 5.01(g) with respect to the Company occurs, the Adjusted Principal Amount of all the Debentures, any accrued and unpaid interest (including Additional Interest) thereon and any unpaid Additional Distributions with respect to the Debentures shall be immediately due and payable without any notice, declaration or other act on the part of the Trustee or any Holder.
Unless and until a Responsible Officer of the Trustee receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable.
If the Company fails to timely give such notice or pay Additional Interest when due, or elects not to pay Additional Interest following an Event of Default relating to the Company’s obligation to file reports as required under Section 4.06(b), the Debentures will be subject to acceleration as provided in Section 5.02.
The accrual of Additional Interest will be the exclusive remedy available to Holders for a failure of their Notes to become freely tradable pursuant to Rule 144.
If the Company so elects, such Additional Interest shall be payable in the same manner and on the same dates as the stated interest payable on the Notes.