Common use of Redemption Date Clause in Contracts

Redemption Date. If less than all the Company Securities are to be redeemed on a Redemption Date, then no Company Common Securities shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities to be redeemed shall be selected on a pro rata basis (based upon Liquidation Amounts) not more than 60 days prior to the Redemption Date by the Company from the outstanding Company Preferred Securities not previously called for redemption which may provide for the selection for redemption of portions (equal to $____ or an integral multiple of $___ in excess thereof) of the Liquidation Amount of Preferred Securities of a denomination larger than $____. The Company shall promptly notify the Trustee and the Registrar in writing of the Company Preferred Securities selected for redemption and, in the case of any Company Preferred Securities selected for partial redemption, the Liquidation Amount thereof to be redeemed. For all purposes of this Agreement, unless the context otherwise requires, all provisions relating to the redemption of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Company Preferred Securities that has been or is to be redeemed. The Company will also have the right at any time prior to the Dividend Payment Date regularly scheduled to occur on _______________, 20_______, upon the occurrence of a Tax Event or an Investment Company Act Event, and on not less than 30 or more than 60 days' notice by mail, to redeem Company Preferred Securities, in whole (but not in part) at a redemption price per security equal to the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period in respect of uncollected dividends on the Company Preferred Securities.

Appears in 1 contract

Samples: Administration Agreement (Teco Capital Trust Iii)

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Redemption Date. In the event of redemption of this Security in part only, a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. If a Change of Control Triggering Event occurs, unless the Company has exercised its right to redeem the Securities in full, the Company will make an offer to each Holder (the “Change of Control Offer”) to repurchase any and all of such Holder’s Securities at a repurchase price in cash equal to 101% of the aggregate principal amount of the Securities repurchased plus accrued and unpaid interest, if any, thereon, to the date of repurchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Company will mail a notice to Holders of Securities describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Securities on the date specified in the notice, which date will be no less than all the Company Securities are to be redeemed on a Redemption Date, then 30 days and no Company Common Securities shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities to be redeemed shall be selected on a pro rata basis (based upon Liquidation Amounts) not more than 60 days prior from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the Redemption Date by the Company from the outstanding Company Preferred Securities not previously called for redemption which may provide for the selection for redemption of portions (equal to $____ or an integral multiple of $___ procedures required hereby and described in excess thereof) of the Liquidation Amount of Preferred Securities of a denomination larger than $____. The Company shall promptly notify the Trustee and the Registrar in writing of the Company Preferred Securities selected for redemption and, in the case of any Company Preferred Securities selected for partial redemption, the Liquidation Amount thereof to be redeemed. For all purposes of this Agreement, unless the context otherwise requires, all provisions relating to the redemption of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Company Preferred Securities that has been or is to be redeemedsuch notice. The Company will also have comply with the right at requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any time prior other securities laws and regulations thereunder to the Dividend Payment Date regularly scheduled extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control repurchase provisions of the Securities, the Company will comply with the applicable securities laws and regulations and will not be deemed to occur on _______________, 20_______, have breached its obligations under the Change of Control repurchase provisions of the Securities by virtue of such conflicts. The Company will not be required to offer to repurchase the Securities upon the occurrence of a Tax Change of Control Triggering Event or if a third party makes such an Investment offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company Act Eventand the third party repurchases on the applicable date all Securities properly tendered and not withdrawn under its offer; provided that for all purposes of the Securities and the Indenture, a failure by such third party to comply with the requirements of such offer and on not less to complete such offer shall be treated as a failure by the Company to comply with its obligations to offer to purchase the Securities unless the Company promptly makes an offer to repurchase the Securities at 101% of the principal amount thereof plus accrued and unpaid interest, if any, thereon, to the date of repurchase, which shall be no later than 30 or more than 60 days' notice by maildays after the third party’s scheduled Change of Control Payment Date. On the Change of Control Payment Date, the Company will, to redeem Company Preferred Securities, in whole (but not in part) at the extent lawful: · accept or cause a redemption price per security third party to accept for payment all Securities properly tendered pursuant to the Change of Control Offer; · deposit or cause a third party to deposit with the paying agent an amount equal to the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period Change of Control Payment in respect of uncollected dividends on all Securities properly tendered; and · deliver or cause to be delivered to the Company Preferred SecuritiesTrustee the Securities properly accepted, together with an officer’s certificate stating the principal amount of Securities being purchased.

Appears in 1 contract

Samples: Supplemental Indenture (Cigna Corp)

Redemption Date. If less than all From and after the Company Securities are to be redeemed on a Change of Control Redemption Date, then no Company (i) the Units and shares of Class B Common Securities Stock subject to such Redemption shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities deemed to be redeemed transferred to PubCo on the Change of Control Redemption Date and (ii) such Member shall cease to have any rights with respect to the Units and shares of Class B Common Stock subject to such Redemption (other than the right to receive shares of Class A Common Stock pursuant to such Redemption). PubCo shall provide written notice of an expected PubCo Change of Control to all Members within the earlier of (x) ten (10) Business Days following the execution of the agreement with respect to such PubCo Change of Control and (y) ten (10) Business Days before the proposed date upon which the contemplated PubCo Change of Control is to be effected, indicating in such notice such information as may reasonably describe the PubCo Change of Control transaction, subject to applicable law, including the date of execution of such agreement or such proposed effective date, as applicable, the amount and types of consideration to be paid for shares of Class A Common Stock in the PubCo Change of Control, any election with respect to types of consideration that a holder of shares of Class A Common Stock, as applicable, shall be selected entitled to make in connection with such PubCo Change of Control, and the number of Units (and corresponding shares of Class B Common Stock) held by such Member that PubCo intends to require to be subject to such Redemption. Following delivery of such notice and on a pro rata basis (based upon Liquidation Amounts) not more than 60 days or prior to the Change of Control Redemption Date by the Company from the outstanding Company Preferred Securities not previously called for redemption which may provide for the selection for redemption of portions (equal to $____ or an integral multiple of $___ in excess thereof) of the Liquidation Amount of Preferred Securities of a denomination larger than $____. The Company shall promptly notify the Trustee and the Registrar in writing of the Company Preferred Securities selected for redemption and, in the case of any Company Preferred Securities selected for partial redemptionDate, the Liquidation Amount thereof Members shall take all actions reasonably requested by PubCo to be redeemed. For all purposes effect such Redemption, including taking any action and delivering any document required pursuant to the remainder of this Agreement, unless the context otherwise requires, all provisions relating Section 4.6 to the redemption of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Company Preferred Securities that has been or is to be redeemed. The Company will also have the right at any time prior to the Dividend Payment Date regularly scheduled to occur on _______________, 20_______, upon the occurrence of effect a Tax Event or an Investment Company Act Event, and on not less than 30 or more than 60 days' notice by mail, to redeem Company Preferred Securities, in whole (but not in part) at a redemption price per security equal to the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period in respect of uncollected dividends on the Company Preferred SecuritiesRedemption.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Magnolia Oil & Gas Corp)

Redemption Date. If less In case fewer than all the Company Securities outstanding Depositary Shares are to be redeemed on a Redemption Dateredeemed, then no Company Common Securities shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities the Depositary Shares to be redeemed shall be selected on a by lot or pro rata basis (based upon Liquidation Amounts) not more than 60 days prior to or by any other substantially equivalent method determined by the Depositary with the approval of the Company. Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date by (unless the Company from shall have failed to redeem the outstanding Company Preferred Securities not previously shares of Stock to be redeemed by it as set forth in the Company's notice provided for in the preceding paragraph) all dividends in respect of the shares of Stock called for redemption which may provide for shall cease to accrue, the selection Depositary Shares called for redemption of portions (equal shall be deemed no longer to $____ or an integral multiple of $___ in excess thereof) be outstanding and all rights of the Liquidation Amount holders of Preferred Securities of a denomination larger than $____. The Company shall promptly notify Receipts evidencing such Depositary Shares (except the Trustee and the Registrar in writing of the Company Preferred Securities selected for redemption and, in the case of any Company Preferred Securities selected for partial redemption, the Liquidation Amount thereof right to be redeemed. For all purposes of this Agreement, unless the context otherwise requires, all provisions relating to receive the redemption of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in partprice) shall, to the portion extent of such Depositary Shares, cease and terminate. Upon surrender in accordance with said notice of the Liquidation Amount of Company Preferred Securities that has been Receipts evidencing such Depositary Shares (properly endorsed or is to assigned for transfer, if the Depositary shall so require), such Depositary Shares shall be redeemed. The Company will also have the right at any time prior to the Dividend Payment Date regularly scheduled to occur on _______________, 20_______, upon the occurrence of a Tax Event or an Investment Company Act Event, and on not less than 30 or more than 60 days' notice by mail, to redeem Company Preferred Securities, in whole (but not in part) redeemed at a redemption price per security Depositary Share equal to [specify fraction] times the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period redemption price per share paid in respect of uncollected shares of Stock pursuant to the Certificate plus all money and other property, if any, represented by such Depositary Shares, including all amounts paid by the Company in respect of dividends that on the Redemption Date have accrued on the shares of Stock to be so redeemed and that have not theretofore been paid. The foregoing shall be subject further to the terms and conditions of the Certificate. If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary shall deliver to the holder of such Receipt upon its surrender to the Depositary, together with payment of the redemption price for the Depositary Shares called for redemption, a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not called for redemption. Except as provided in the preceding paragraph of this Section 2.07, the Depositary shall not be required to transfer or exchange for another Receipt any Receipt evidencing Depositary Shares called or being called for redemption in whole or in part. The Depositary shall remit to the Company Preferred Securitiesany funds deposited by or for the account of the Company for the purpose of redeeming any Depositary Shares that the holders thereof have failed to redeem after two years from the date of such deposit, without further action necessary on the part of the Company.

Appears in 1 contract

Samples: Deposit Agreement (Arm Financial Group Inc)

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Redemption Date. If less than all any date fixed for redemption of Securities is not a Business Day, then payment of the Company Redemption Price payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on such date fixed for redemption. If, however, the Business Day falls in the next calendar year, then payment of the Redemption Price will be made on the immediately preceding Business Day with the same force and effect as if made on such date fixed for redemption. If payment of the Redemption Price in respect of any Securities is not paid because the payment of the Redemption Price on the Debentures is not made, interest will continue to accrue on the Debentures, and, as a result, Distributions on such Securities will continue to accumulate at the then applicable rate from the original redemption date to the actual date of payment, in which case the actual payment date will be considered the date fixed for redemption for purposes of calculating the Redemption Price. For these purposes, the applicable Redemption Price shall not include Distributions which are being paid to be redeemed Holders who were Holders on a Redemption Daterelevant record date. If a Redemption/Distribution Notice shall have been given and funds deposited or paid as required, then no Company Common Securities shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities to be redeemed shall be selected on a pro rata basis (based upon Liquidation Amounts) not more than 60 days immediately prior to the Redemption Date by close of business on the Company from date of such deposit or payment, Distributions will cease to accumulate on the outstanding Company Preferred Securities not previously called for redemption which may provide for the selection and all rights of Holders of such Securities so called for redemption of portions (equal to $____ or an integral multiple of $___ in excess thereof) will cease, except the right of the Liquidation Amount Holders to receive the Redemption Price, but without interest on such Redemption Price, and from and after the date fixed for redemption, such Securities will cease to be outstanding. Neither the Administrative Trustees nor the Trust shall be required to register or cause to be registered the transfer of Preferred any Securities of a denomination larger than $____. The Company shall promptly notify the Trustee and the Registrar in writing of the Company Preferred Securities selected that have been called for redemption andredemption, except in the case of any Company Preferred Securities selected for partial redemptionbeing redeemed in part, the Liquidation Amount any portion thereof not to be redeemed. For all purposes of this Agreement, unless the context otherwise requires, all provisions relating to the redemption of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Company Preferred Securities that has been or is to be redeemed. The Company will also have the right at any time prior to the Dividend Payment Date regularly scheduled to occur on _______________, 20_______, upon the occurrence of a Tax Event or an Investment Company Act Event, and on not less than 30 or more than 60 days' notice by mail, to redeem Company Preferred Securities, in whole (but not in part) at a redemption price per security equal to the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period in respect of uncollected dividends on the Company Preferred Securities.

Appears in 1 contract

Samples: Trust Agreement (Banknorth Group Inc/Me)

Redemption Date. In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected by lot, pro rata or such other method as may be determined by the Depositary to be equitable. Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date (unless the Company shall have failed to redeem the shares of Stock to be redeemed by it as set forth in the Company's notice provided for in the preceding paragraph) all dividends in respect of the Depositary Shares so called for redemption shall cease to accrue and accumulate, the Depositary Shares being redeemed from such proceeds shall be deemed no longer to be outstanding, all rights of the holders of Receipts evidencing such Depositary Shares (except the right to receive the redemption price) shall, to the extent of such Depositary Shares, cease and terminate and, upon surrender in accordance with such notice of the Receipts evidencing any such Depositary Shares (properly endorsed or assigned for transfer, if the Depositary shall so require), such Depositary Shares shall be redeemed by the Depositary at a redemption price per Depositary Share equal to the proportionate part of the redemption price per share paid in respect of the shares of Stock plus all money and other property, if any, paid with respect to such Depositary Shares, including all amounts paid by the Company in respect of dividends which on the Redemption Date have accumulated on the shares of Stock to be so redeemed and have not theretofore been paid. If less than all the Company Securities Depositary Shares evidenced by a Receipt are to be redeemed on a Redemption Date, then no Company Common Securities shall be redeemed unless and until all Company Preferred Securities have been redeemed. The particular Company Preferred Securities to be redeemed shall be selected on a pro rata basis (based upon Liquidation Amounts) not more than 60 days prior to the Redemption Date by the Company from the outstanding Company Preferred Securities not previously called for redemption which may provide for the selection for redemption of portions (equal to $____ or an integral multiple of $___ in excess thereof) of the Liquidation Amount of Preferred Securities of a denomination larger than $____. The Company shall promptly notify the Trustee and the Registrar in writing of the Company Preferred Securities selected for redemption and, in the case of any Company Preferred Securities selected for partial redemption, the Liquidation Amount thereof to be redeemed. For all purposes of this Agreement, unless the context otherwise requires, all provisions relating Depositary will deliver to the redemption holder of Company Preferred Securities shall relate, in the case of any Company Preferred Securities redeemed or to be redeemed only in part, such Receipt upon its surrender to the portion of Depositary, together with the Liquidation Amount of Company Preferred Securities that has been or is to be redeemed. The Company will also have redemption payment, a new Receipt evidencing the right at any time Depositary Shares evidenced by such prior to the Dividend Payment Date regularly scheduled to occur on _______________, 20_______, upon the occurrence of a Tax Event or an Investment Company Act Event, Receipt and on not less than 30 or more than 60 days' notice by mail, to redeem Company Preferred Securities, in whole (but not in part) at a redemption price per security equal to the Redemption Price. Notwithstanding the foregoing, the Company Preferred Securities will not be subject to any sinking fund or mandatory called for redemption. Any Company Preferred Securities redeemed shall be canceled. There shall be no prescription period in respect of uncollected dividends on the Company Preferred Securities.

Appears in 1 contract

Samples: Deposit Agreement (Jefferies Group Inc /De/)

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