Puttable definition

Puttable. ▇▇▇▇ gives bondholder the right to sell bond back to issuer. “Convertible” bond gives you the right to convert bond into a specified number of unissued shares of the issuer or a related company. “Exchangeable” bond allows bondholder to exchange the bond for the shares of any organization which are already in issue and held by the issuer or a related company.
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Examples of Puttable in a sentence

  • The Series A Cumulative Puttable and Callable Preferred Stock (the “Series A Preferred”) of Gabelli Global Utility & Income Trust, a Company under the Agreement (the “Fund”), is hereby designated by the Fund as a new class of Shares covered under the Agreement.

  • The Series B Cumulative Puttable and Callable Preferred Shares (the “Series B Preferred”) of The Gabelli Global Utility & Income Trust (the “Fund”) is hereby designated by the Fund as a new class of shares covered under the Agreement.

  • The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is limited to U.S.$420,000,000, except for securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of other Securities pursuant to Section 2.5, 2.6, 7.5, 10.8, 11.3 or 12.2. The Securities shall be known and designated as the “New Zero Yield Puttable Securities (ZYPSSM) due May 15, 2023” of the Company.

  • Notwithstanding anything to the contrary contained in this Agreement, the repurchase(s) of the Puttable Options and/or Puttable Shares in accordance with this Section 3 by the Company shall be subject to applicable restrictions and limitations under the Delaware General Corporation Law and in the Company’s and its Subsidiaries’ debt and equity financing agreements, in each case, determined in good faith by the Board, such determination to be binding on all parties.

  • The Company will pay for the Puttable Options and/or Puttable Shares by delivery of a check (or checks) payable to the Participant or one or more of the Participant’s transferees or a wire transfer of immediately available funds.

  • If the Participant is exercising the Put Right with respect to any Puttable Options, the Company shall be required to purchase each such Puttable Option at a price per Share equal to the excess, if any, of the Fair Market Value of a Share, over the per Share exercise price of such Puttable Option.

  • To the extent the Participant is exercising the Put Right with respect to the Puttable Shares, the Company shall be required to repurchase such Shares at a price per share equal to the Fair Market Value thereof determined by the Board on the date of the Put Closing (as defined in Section 3(c) below) after taking due consideration of (but not being bound by) the Formula Price (as defined below).

  • If the Independent Appraiser’s determination of Fair Market Value exceeds the Fair Market Value as determined by the Board, the repurchase price for the Puttable Shares and the Puttable Options shall instead be determined using either the Fair Market Value determined by the Independent Appraiser, or, if the Fair Market Value determined by the Independent Appraiser exceeds the Formula Price, the Formula Price.

  • Pursuant to the Put Right, the Participant may elect to exercise his right to require the Company to purchase all or any portion of the Puttable Options or Puttable Shares by delivering written notice or notices (each, a “Put Notice”) to the Company.

  • If any such restrictions or limitations prohibit the repurchase by the Company of the Puttable Options and/or Puttable Shares for cash, the Put Right will be suspended, and the Company shall make such repurchases in cash as soon as it is permitted to do so under such restrictions.

Related to Puttable

  • Senior Unsecured Notes means the $725,000,000 in aggregate principal amount of the Borrower’s Senior Unsecured Notes due 2029 issued pursuant to the Senior Unsecured Notes Indenture.

  • Convertible Subordinated Notes means any convertible subordinated notes or debentures issued by the Borrower after the date hereof, which are subordinated to the Obligations on terms no less favorable to the Lenders, in any material respect, than the 4.75% Convertible Subordinated Notes Due 2016 (as those terms were in effect and applied to the 4.75% Convertible Subordinated Notes Due 2016 prior to the repayment thereof in full on June 15, 2016).

  • Permitted Unsecured Refinancing Debt means Credit Agreement Refinancing Indebtedness in the form of unsecured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior unsecured notes or loans; provided that such Indebtedness (i) constitutes Credit Agreement Refinancing Indebtedness and (ii) meets the Permitted Other Debt Conditions.

  • Senior Unsecured Debt means the Indebtedness represented by the Senior Unsecured Notes (including the Note Guarantees, Exchange Notes (each as defined in the Senior Unsecured Debt Documents), guarantees of Exchange Notes and any replacement Exchange Notes).

  • Convertible Notes means indebtedness of the Company that is optionally convertible into Capital Stock of the Company (and/or cash based on the value of such Capital Stock) and/or indebtedness of a Subsidiary of the Company that is optionally exchangeable for Capital Stock of the Company (and/or cash based on the value of such Capital Stock).