Permitted Redemption Amount definition

Permitted Redemption Amount has the meaning set forth in Section 2.3(a)(i).

Permitted Redemption Amount shall be equal to (A) the aggregate unpaid outstanding principal amount of all Notes, (B) all accrued and unpaid interest with respect to such principal amount and all accrued and unpaid fees, (C) all accrued and unpaid Late Charges with respect to such Permitted Redemption Amount, (D) the Prepayment Premium and (E) all other amounts due under the Transaction Documents. The Credit Parties acknowledge and agree that the Prepayment Premium represents bargained for consideration in exchange for the right and privilege to redeem the Notes.

Permitted Redemption Amount shall be in increments of not less than $100,000 of the aggregate outstanding principal amount of this Subordinated Note as of the Permitted Redemption Date, plus all accrued and unpaid interest and fees with respect to such principal amount as of the Permitted Redemption Date.

Examples of Permitted Redemption Amount in a sentence

• The Companies shall redeem the applicable Permitted Redemption Amount of this Debenture pursuant to this Section 5(a) together with the corresponding Permitted Redemption Amounts of the Other Debentures pursuant to the corresponding provisions of the Other Debentures.

• If the Companies elect to redeem pursuant to a Permitted Redemption, then the Permitted Redemption Amount which is to be paid to the Holder on the applicable Permitted Redemption Date shall be redeemed by the Companies on such Permitted Redemption Date, and the Companies shall pay to the Holder on such Permitted Redemption Date, by wire transfer of immediately available funds, an amount in cash equal to the Permitted Redemption Amount.

• The Company may, at its option, at any time elect to prepay to the Holders the Permitted Redemption Amount (as defined below), on the Permitted Redemption Date, by prepaying the aggregate unpaid principal amount of the Note, in whole, or in part (the “Permitted Redemption”).

• The Permitted Redemption Amount shall be equal to (A) all or a portion of the unpaid outstanding principal amount of the Note, (B) all accrued and unpaid interest with respect to such principal amount and all accrued and unpaid fees, and (C) all other amounts due under the Transaction Documents.

• If the Company elects to prepay the Note pursuant to a Permitted Redemption under subsection (a), then the Permitted Redemption Amount which is to be paid to the Holders on the Permitted Redemption Date shall be redeemed by the Company on the Permitted Redemption Date, and the Company shall pay to the Holders on the Permitted Redemption Date, by wire transfer of immediately available funds, an amount in cash equal to the Permitted Redemption Amount.

More Definitions of Permitted Redemption Amount

Permitted Redemption Amount means (i) (A) with respect to redemptions occurring on or before August 25, 2020, an amount equal to one hundred fifty percent (150%) of the original Unsecured Note principal amount, and (B) with respect to redemptions occurring after August 25, 2020, an amount equal to two hundred percent (200%) of the original Unsecured Note principal amount, plus (ii) all accrued and unpaid interest, if any, and fees with respect to the aggregate outstanding principal amount of the Unsecured Note, plus (iii) all other amounts due under the Transaction Documents with respect thereto, less (iv) any payments made pursuant to Section 2.6.

Permitted Redemption Amount means the sum of (a) the aggregate unpaid outstanding principal amount of the Loans (or corresponding Revolving Notes) being prepaid or redeemed, (b) all accrued and unpaid interest and fees with respect to such principal amount, (c) all accrued and unpaid Late Charges with respect to such principal amount, (d) the Exit Payment, which if not calculated as the Yield Maintenance Premium in accordance with the terms hereof, shall be calculated immediately prior to the applicable redemption or prepayment of all Loans or outstanding Revolving Notes as the product of (i) the applicable Exit Payment rate as set forth herein multiplied by (ii) the aggregate principal amount of the Loans or Revolving Notes then required to be paid, provided, further, that in the event of a redemption or prepayment where the outstanding principal amount of outstanding Loans or unredeemed Revolving Notes at the time of such calculation is less than the Total Commitment then in effect, the outstanding principal amount of outstanding Loans or unredeemed Revolving Notes shall be deemed to be an amount equal to the Total Commitment then in effect (which, for avoidance of doubt shall be the amount of the Total Commitment without giving effect to any termination or reduction of the Commitments associated with any such redemption or prepayment)), (e) all accrued and unpaid Fees and (f) all other amounts due under the Loan Documents; provided, that notwithstanding the foregoing, any determination of accrued and unpaid interest shall take into account any deemed funded amounts in respect of the Loans or Revolving Notes deemed outstanding, as the case may be, to be used in lieu of the aggregate outstanding principal amount of Revolving Notes as of the applicable date of determination as otherwise set forth in this Agreement.

Permitted Redemption Amount means, as of any date, an amount equal to (a) 20% of the cumulative amount by which Consolidated Net Income in any calendar year commencing with the year ending December 31, 2002 exceeds $50,000,000 minus (b) the sum of all cash and the fair market value of all non-cash consideration paid or payable by PXRE Group or the Subsidiary of the Borrower that has issued Trust Preferred Securities pursuant to any transaction described in Section 7.6(i)(C) and effected or commenced after December 10, 2001.

Permitted Redemption Amount means, as of any Mandatory Redemption Date, an amount equal to (1) the maximum number of Shyris Shipping Series B Preferred Shares that could be issued on such date such that the Redemption Quotient does not exceed the Discretionary Redemption Percentage, multiplied by (2) US$10.00.

Permitted Redemption Amount means (i) an amount equal to two hundred percent (200%) of the original principal amount of this Note, plus (ii) all accrued and unpaid interest, if any, with respect to the aggregate outstanding principal amount of this Note,less (iii) any payments made pursuant to Section 4.

Permitted Redemption Amount shall be equal to the sum of one hundred five percent (105%) of the outstanding sum of: (A) the aggregate outstanding principal amount of the Notes as of the Permitted Redemption Date, (B) all accrued and unpaid interest with respect to such principal amount and all accrued and unpaid fees, in each case, with respect to the principal amount of the Note to be redeemed as of the Permitted Redemption Date (to the extent not previously added to the principal amount as set forth in subparagraph (A) immediately above), and (C) all other amounts due under the Transaction Documents with respect to the principal amount of the Note to be redeemed as of the Permitted Redemption Date.

Permitted Redemption Amount shall be equal to (A) the portion of unpaid outstanding principal amount of the Note required to be repaid such that the Credit Parties will be in compliance with the covenants set forth in Section 6.1, (B) all accrued and unpaid interest with respect to such principal amount and all accrued and unpaid fees, (C) all accrued and unpaid Late Charges with respect to such Permitted Redemption Amount and (D) all other amounts then due under the Transaction Documents. A Permitted Redemption under this Section 2.3(a)(i) shall reduce the outstanding principal balance of the Loan but shall not reduce or affect the then-outstanding Maximum Commitment, and the Loan, Maximum Commitment, and the terms of the Transaction Documents shall continue in full force and effect and be unmodified.