Examples of Default Redemption Amount in a sentence
The relevant Default Redemption Amount shall be the only amount payable and there will be no separate payment in respect of any unpaid accrued interest thereon.
If the ‘Interest Basis’ of an Instrument is specified in the Series Terms to be ‘Zero Coupon’ then if such Instrument is repayable prior to the Maturity Date and is not paid when due, the amount due and payable prior to the Maturity Date shall be the Early Redemption Amount or the Default Redemption Amount (as applicable).
Events of Default Upon the occurrence of an Event of Default, the Trustee at its discretion may, and if directed by an Extraordinary Resolution shall (provided that the Trustee shall have been indemnified and/or secured and/or pre-funded to its satisfaction), give notice to the Issuer, Instrumentholders and each Transaction Party that all of the Instruments shall become immediately due and payable at their Default Redemption Amount.
Upon the occurrence of an Event of Default, the Trustee at its discretion may, and if directed by an Extraordinary Resolution shall (provided that the Trustee shall have been indemnified and/or secured and/or pre-funded to its satisfaction), give notice to the Issuer, Instrumentholders and each Transaction Party that all of the Instruments shall become immediately due and payable at their Default Redemption Amount.
Further, interest shall accrue on the Default Redemption Amount on a daily basis at the rate of 3% per month up to and including the date that the Noteholders receive full payment of the Default Redemption Amount.
The Default Redemption Amount, whether payable in cash or in shares, shall be due and payable or issuable, as the case may be, within five (5) Trading Days of the date on which the notice for the payment therefor is provided by a Holder (the “Default Redemption Payment Date”).
Payment of the Early Redemption Amount and the Default Redemption Amount is not guaranteed by the Issuer, Arranger, any CFTA Counterparty or any other Transaction Party.
Payment of the Final Maturity Amount, the Early Redemption Amount, the Default Redemption Amount and the Issuer Call Amount is in each case dependent on the value realised from Series Holdings coupled with net cashflows from CFTA Counterparties for the relevant Series, and payment of such amounts is not guaranteed by the Issuer, Arranger, any CFTA Counterparty or any other Transaction Party.
If the Company fails to pay in full the Default Redemption Amount hereunder on the date such amount is due in accordance with this Section (whether in cash or shares of Common Stock), the Company will pay interest thereon at a rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law, accruing from such date until the Default Redemption Amount, plus all such interest thereon, is paid in full.
Any reference in these Conditions to principal in respect of the Notes shall be deemed to refer to, as applicable, the Final Maturity Amount, the Early Redemption Amount, the Default Redemption Amount or the Issuer Call Amount of the Notes and/or any other amounts (other than interest) which may be payable by the Issuer under or in respect of the Notes.