Discount Obligations definition
Examples of Discount Obligations in a sentence
A spread between 1.50% and 7.00% (in increments of .01%) without exceeding the Weighted Average Floating Spread (determined as if all Discount Obligations instead constituted Collateral Obligations that are not Discount Obligations) as of such Measurement Date.
In the case of Periodic Funding Obligations and Discount Obligations on any date, the principal amount thereof payable upon the Maturity shall be the lesser of the amount payable upon the Stated Maturity thereof or the amount that would be payable if the Maturity of such Debt were such date.
In respect of each Series of Original Issue Discount Obligations, the Company shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on each Series of such Obligations as of the end of such year, and (ii) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time.
On July 1, 2010, if any notes are outstanding, the Company will be required to redeem, at a redemption price of 100% of the principal amount of the notes so redeemed, a principal amount of notes (the "MANDATORY PRINCIPAL REDEMPTION AMOUNT") sufficient to ensure that the notes are not treated under the Code as "Applicable High Yield Discount Obligations" for the ongoing deductibility of interest by the Company.