Contingent Interest Payment definition

Contingent Interest Payment means an additional payment of contingent interest to Bondholders upon the maturity of the applicable series of Bonds, redemption of the Bonds, other than an optional redemption at the election of a Bondholder or upon of the death or disability of a Bondholder, or the occurrence of a Change of Control Repurchase Event. Contingent interest will accrue at a rate of 5% per annum from and after the initial issuance date of the applicable series of Bonds and on each anniversary of such issuance date thereafter. If the Issuer elects to extend the Maturity Date of any series of Bonds, then the contingent interest will accrue at a rate of 5.25% per annum for the first one year extension period, if applicable, and 5.50% per annum for the second one year extension period, if applicable.
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Contingent Interest Payment shall have the meaning assigned thereto in paragraph 2.
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Examples of Contingent Interest Payment in a sentence

  • For any six-month period, the amount of Contingent Cash Interest payable on any Contingent Interest Payment Date per $1,000 Issue Price thereof in respect of any Contingent Interest Period shall equal the amounts set forth below per $1,000 Issue Price for each applicable six-month period.

  • For any six-month period, the amount of Contingent Cash Interest payable on any Contingent Interest Payment Date per $1,000 Initial Principal Amount at Maturity thereof in respect of any Contingent Interest Period shall equal the amounts set forth below per $1,000 Initial Principal Amount at Maturity for each applicable six-month period.

  • In the case of a Global Security, interest payable on any Contingent Interest Payment Date will be paid to the Depositary for the purpose of permitting the Depositary to credit the interest received by it in respect of such Global Security to the accounts of the beneficial owners thereof.

  • The amount of Interest, if any, payable on any Interest Payment Date or Contingent Interest Payment Date, as the case may be, shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Payment of the portion of the Contingent Interest Payment to be paid by the tender of shares of Common Stock shall be made by delivery of the certificates evidencing such shares (with appropriate stock powers executed in blank) to the Managing Agents or such Affiliates thereof as the Managing Agents shall direct in writing to the Company.

  • The definitions of Contingent Interest Payment and Contingent Interest Rate within the Tesoro Notes are hereby amended by deleting the existing definitions in their entirety and inserting in lieu thereof the following: For each $1,000 principal amount Note, the “Contingent Interest Payment” with respect to each Observation Date is a fixed amount equal to $25.375, calculated as follows: The “Contingent Interest Rate” is 10.15% per annum.

  • Contingent Interest for any Contingent Interest Period, if any, shall accrue and be paid on the February 15 or August 15 following each Contingent Interest Period (the "Contingent Interest Payment Date") to holders in whose name any Convertible Note is registered with the Registrar at the close of business on the preceding Regular Record Date.

  • Contingent Cash Interest, if any, will accrue from the first day of the applicable six-month period and be payable quarterly on January 31, April 30, July 31 and October 31 (each a "Contingent Interest Payment Date") of the relevant six-month period to Holders of the Security on the record date, which will be each October 15, January 15, April 15 and July 15 immediately preceding each applicable payment date set forth below.

  • If payable, Contingent Interest shall be paid on the last day of the applicable Contingent Interest Period (in each case, a "Contingent Interest Payment Date").

  • Payment of the cash portion of the Contingent Interest Payment shall be made to such accounts as the Managing Agents shall direct in writing to the Company.