Examples of Private Debentures in a sentence
In the event the Private Debentures were redeemed prior to June 30, 2019, the holder was entitled to receive, in addition to the Redemption Amount, any interest that would have otherwise accrued from the redemption date through June 30, 2019.
The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities (including the Exchange Capital Securities pursuant to the Exchange Offer), (b) to use the proceeds from the sale of Trust Securities to acquire the Private Debentures, (c) to exchange the Private Debentures for the Exchange Debentures pursuant to the Indenture and (d) to engage in those activities necessary, convenient or incidental thereto.
Maturity dates range from May 2015 to June 2039.(2) On December 5, 2014, $200.0 million of Series 3 Private Debentures were issued for a 10-year term with a coupon rate of 3.81 per cent.
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The Private Debentures were also subject to a cash covenant, whereby any cash generated from the Company’s portfolio, excluding some trading flexibility around the Company’s public positions, in excess of $4.0 million would be used to redeem Private Debentures on a pro rata basis on each Interest Payment Date, if applicable.
The Private Debentures were redeemable in whole or in part at the option of the Company on not more than 45 days and not less than 15 days prior notice at a price equal to their principal amount plus accrued and unpaid interest (the “Redemption Amount”).
The exclusive purposes and functions of -------------------- the Trust are (a) to issue and sell Trust Securities (including the Exchange Capital Securities pursuant to the Exchange Offer), (b) to use the proceeds from the sale of Trust Securities to acquire the Private Debentures, (c) to exchange the Private Debentures for the Exchange Debentures pursuant to the Indenture and (d) to engage in those activities necessary, convenient or incidental thereto.
TPAC shall have satisfied or otherwise discharged Enterprises from any liabilities associated with or arising out of the TPIR Bank Debt, and TPAC shall have satisfied all liabilities associated with or arising out of the Private Debentures.
From and after the Closing Date, TPAC shall promptly notify Enterprises of all exercises of TPAC Options and TPAC Warrants and all conversions of the Public Debentures or Private Debentures.
During the year ended December 31, 2018, no Private Debentures were redeemed.