Common use of Contingent Interest Clause in Contracts

Contingent Interest. Beginning with the six-month interest period ending June 14, 2019, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Securities. For any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.50% per annum of the average Trading Price for $1,000 principal amount of Securities during the five Trading-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 2 contracts

Samples: Indenture (MidCon Compression LP), Indenture (Chesapeake Energy Corp)

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Contingent Interest. Beginning with the six-month interest period ending June 14commencing November 15, 2019, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for during any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Securities. For During any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.500.375% per annum of the average Trading Price for of $1,000 principal amount of Securities during the five Trading-Day measuring period Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof 5.08 shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each the applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities5.09. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company. Contingent Interest for any period shall be paid on the same date and to the same Person entitled to receive other interest payable on any Securities. Contingent Interest due under this Section 5.08 shall be treated for all purposes of this Indenture like any other interest accruing on the Securities.

Appears in 2 contracts

Samples: Indenture (General Cable Corp /De/), Indenture (General Cable Corp /De/)

Contingent Interest. Beginning with the six-month interest period ending June 14commencing February 1, 20192012, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for during any six-month interest period from and including an interest payment date to but excluding the next interest payment date, holders of the Debentures if the average Trading Price of the Securities Debentures for each of the five Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the SecuritiesDebentures. For During any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities Debentures shall equal 0.500.25% per annum of the average Trading Price for of $1,000 principal amount of Securities Debentures during the five Trading-Day measuring period Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof 5.02 shall be to obtain the Trading Price of the Securities Debentures for each of the five Trading Days ending on the second Trading Day immediately preceding the first day of each the applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 5.03 and to the Trustee setting forth determine the amount of Contingent Interest per $1,000 principal amount of Securitiespayable. Notwithstanding any term contained in this First Supplemental Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company. Contingent interest for any period shall be paid on the same date and to the same Person entitled to receive other interest payable on any Debentures. Contingent Interest due under this Section 5.02 shall be treated for all purposes of this First Supplemental Indenture like any other interest accruing on the Debentures.

Appears in 1 contract

Samples: Supplemental Indenture (Covanta Holding Corp)

Contingent Interest. Beginning with Additional interest ("CONTINGENT INTEREST") will accrue on each Debenture during the six-month interest period Interest Period commencing on May 20, 2011 and ending June November 14, 2019, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period from and including an interest payment date to but excluding the next interest payment date2011, if the average Trading Price of the Securities for each of Debentures during the five Applicable Five-Day Trading Days ending on the third day Period immediately preceding the first day of the applicable six-month interest period such Interest Period equals or exceeds 120125% of the principal amount of the SecuritiesDebentures. For any six-month interest period when Thereafter, Contingent Interest is payablewill accrue on each Debenture during an Interest Period if the average Trading Price of the Debentures during the Applicable Five Day Trading Period immediately preceding Interest Period equals or exceeds 125% of the principal amount of the Debentures. If Contingent Interest accrues during an Interest Period pursuant to the preceding sentence, the amount of Contingent Interest payable on each with respect to such Interest Period per $1,000 principal amount of Securities Debentures shall equal 0.500.25% per annum of the average Trading Price for $1,000 principal amount of Securities during the five TradingApplicable Five-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used Trading Period with respect to determine whether Contingent such Interest must be paidPeriod. The Trustee’s 's sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the bids for determining the Trading Price of the Securities Debentures for each of Trading Day during the five Applicable Five-Day Trading Days immediately preceding the first day of each applicable six-month interest period Period and to provide such information to the Company, to the extent that the Trustee is then the Bid Solicitation Agent. The Company shall determine the Trading Price and whether Holders holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Wild Oats Markets Inc)

Contingent Interest. Beginning with the six-month interest period ending June November 14, 20192017, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Securities. For any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.50% per annum of the average Trading Price for $1,000 principal amount of Securities during the five Trading-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Chesapeake Energy Corp)

Contingent Interest. Beginning with Subject to the six-month interest period ending June 14accrual and Record Date provisions described below, 2019, the Company this Security will pay contingent bear additional quarterly interest ("Contingent Interest") to the Holders of Securities for Holder hereof during any six-month interest period from and including an interest payment date February 26 to but excluding the next interest payment dateAugust 25 or August 26 to February 25, commencing after February 25, 2008, if the average Trading Price market price of the Securities for each of the five Trading Days ending on the third day Trading Day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% or more of the principal amount Principal Amount of the Securities. For The Contingent Interest payable per Security in respect of any six-month interest period when in which Contingent Interest is payable, payable will equal the Contingent Interest payable on each $1,000 principal amount annual rate of Securities shall equal 0.500.25% per annum of the average Trading Price market price of a Security for $1,000 principal amount of Securities during the five Trading-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each applicable six-month interest period and to provide such information to the CompanyDay measuring period. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount on this Security shall be calculated on the basis of Securitiesa 360-day year of twelve 30-day months. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, will accrue and be payable on the two quarterly Interest Payment Dates for interest payable pursuant to paragraph 1 of this Security next succeeding the first day of the relevant six-month period to the Holders of this Security as of the Regular Record Date relating to such Interest Payment Dates. Upon determination that Holders will be entitled to receive Contingent Interest during a relevant six-month period, we will issue a press release and publish such information on our website on the World Wide Web as soon as practicable. For purposes of this paragraph 2, the market price of a Security on any date of determination means the average of the secondary market bid quotations per Security obtained by the Bid Calculation Agent for $5 million aggregate Principal Amount of Securities at approximately 4:00 p.m., New York City time, on such determination date from three independent nationally recognized securities dealers selected by the Company, provided that if (a) at least three such bids are not obtained by the Bid Calculation Agent, or (b) in the reasonable judgment of the Company, the bid quotations are not indicative of the secondary market value of the Securities, then the market price of the debentures will equal (i) the then applicable Conversion Rate of the Securities multiplied by (ii) the average Sale Price of the Company's Common Stock on the five Trading Days ending on such determination date, appropriately adjusted. The Bid Calculation Agent will initially be The Bank of New York, subject to the Company's right to replace the Bid Calculation Agent. The Bid Calculation Agent shall solicit bids from securities dealers that the Company believes to be willing to bid for the Securities.

Appears in 1 contract

Samples: Affiliated Managers Group Inc

Contingent Interest. Beginning Additional interest ("CONTINGENT INTEREST") will accrue on each Debenture during a Contingent Interest Period, beginning with the six-month interest period ending Contingent Interest Period commencing on June 1420, 2019, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period from and including an interest payment date to but excluding the next interest payment date2011, if the average Trading Price of the Securities for each of Debentures during the five Applicable Five-Day Trading Days ending on the third day Period immediately preceding the first day of the applicable six-month interest period Contingent Interest Period equals or exceeds 120130% of the principal amount Accreted Principal Amount of the SecuritiesDebentures. For On any six-month interest period Interest Payment Date when Contingent Interest is shall be payable, the amount of Contingent Interest payable on each with respect to the Contingent Interest Period per $1,000 principal amount Original Principal Amount of Securities Debentures shall equal 0.500.125% per annum of the average Trading Price for $1,000 principal amount of Securities during the five TradingApplicable Five-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used Trading Period with respect to determine whether such Contingent Interest must be paidPeriod. The Trustee’s 's sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the bids for determining the Trading Price of the Securities Debentures for each of Trading Day during the five Applicable Five-Day Trading Days immediately preceding the first day of each applicable six-month interest period Period and to provide such information to the Company, to the extent that the Trustee is then the Bid Solicitation Agent. The Company shall determine the Trading Price and whether Holders holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Kellwood Co)

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Contingent Interest. Beginning with the six-month interest period ending June November 14, 20192017, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120[ ]% of the principal amount of the Securities. For any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.50[ ]% per annum of the average Trading Price for $1,000 principal amount of Securities during the five Trading-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Gene D. Yost & Son Inc.)

Contingent Interest. Beginning with the six-month interest period ending June May 14, 20192016, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for any six-month interest period [[NYCORP:2552346v6:4259b:11/07/05--10:59 p]] from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Securities. For any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.50% per annum of the average Trading Price for $1,000 principal amount of Securities during the five Trading-Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Chesapeake Energy Corp)

Contingent Interest. Beginning with the six-month interest period ending June 14commencing November 15, 2019, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities for during any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Securities. For During any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities shall equal 0.50% per annum of the average Trading Price for of $1,000 principal amount of Securities during the five Trading-Day measuring period Trading Days ending on the third day second Trading Day immediately preceding the first day of the applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof 5.08 shall be to obtain the Trading Price of the Securities for each of the five Trading Days immediately preceding the first day of each the applicable six-month interest period and to provide such information to the Company. The Company shall determine whether Holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities5.09. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company. Contingent Interest for any period shall be paid on the same date and to the same Person entitled to receive other interest payable on any Securities. Contingent Interest due under this Section 5.08 shall be treated for all purposes of this Indenture like any other interest accruing on the Securities.

Appears in 1 contract

Samples: Indenture (General Cable Corp /De/)

Contingent Interest. Beginning with the six-month interest period ending commencing June 141, 20192011, the Company will pay contingent interest (“Contingent Interest”) to the Holders of Securities Noteholders for any six-month interest period from and including an interest payment date to but excluding the next interest payment date, if the average Trading Price of the Securities for each of the five Trading Days ending on the third day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the SecuritiesNotes. For any six-month interest period when Contingent Interest is payable, the Contingent Interest payable on each $1,000 principal amount of Securities Note shall equal 0.500.40% per annum of the average Trading Price for $1,000 principal amount of Securities Notes during the five Trading-Trading Day measuring period ending on the third day immediately preceding the first day of applicable six-month interest period used to determine whether Contingent Interest must be paid. The Trustee’s sole responsibility pursuant to this Section 4.01 hereof shall be to use its best efforts to obtain the Trading Price of the Securities Notes for each of the five Trading Days immediately preceding the first day of each the applicable six-month interest period and to provide such information to the Company. The Company shall cooperate with the Trustee in obtaining such Trading Prices and shall determine whether Holders holders are entitled to receive Contingent Interest, and if so, provide notice pursuant to Section 4.03 and to the Trustee setting forth the amount of Contingent Interest per $1,000 principal amount of Securities4.03. Notwithstanding any term contained in this Indenture or any other document to the contrary, the Trustee shall have no responsibilities, duties or obligations for or with respect to (i) determining whether the Company must pay Contingent Interest or (ii) determining the amount of Contingent Interest, if any, payable by the Company.

Appears in 1 contract

Samples: Indenture (Headwaters Inc)

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