Callable Series Sample Clauses

The Callable Series clause grants the issuer the right to redeem or "call" a specific series of securities before their scheduled maturity date. Typically, this clause outlines the conditions under which the issuer can exercise this right, such as after a certain period or at predetermined call prices, and may specify notice requirements to holders. Its core practical function is to provide issuers with flexibility to manage their capital structure, often allowing them to refinance debt if interest rates decline or if it becomes advantageous to retire the securities early.
Callable Series. If one or more specified Persons has the right to purchase all or a portion of the Units of any given Series, the Trust Agreement will designate such Series as a "Callable Series," and specify the terms upon which any such specified Person may exercise its right to purchase all or a portion of the Units. Such terms may relate to, but are not limited to, the following: (i) a minimum Unit Principal Balance with respect to each Unit being purchased; (ii) a requirement that the Unit Principal Balance of each Unit being purchased be an integral multiple of a specified amount; (iii) specified dates during which such a purchase may be effected (each, a "Call Date"); and (iv) the price at which such a purchase may be effected (the "Call Price"). After receiving notice of the exercise of such a call right, the Trustee will provide notice thereof as specified in the Trust Agreement. Upon the satisfaction of any applicable conditions to the exercise of such right to purchase of the Units described in such Trust Agreement, each Unitholder will be entitled to receive a distribution of a pro rata share of the Call Price paid in connection with such exercise, in the manner and to the extent described in such Trust Agreement.
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Callable Series. All Class A Units and Class B Units issued hereby are subject to Call Options and Call Rights granted in favor of Warrantholders. All Class A Units and Class B Units are subject to redemption in the event of a redemption of the Underlying Securities. Any Unitholder who receives notice that its Units are being called or redeemed shall tender the applicable Units to the Trustee in accordance with such notice. Any Units subject to call or redemption shall be automatically canceled, and in the case of a call, shall be automatically re-issued to the applicable Warrantholder without further action by the applicable Unitholder, Warrantholder, Trustee or any other person or entity on the date of redemption or the Call Date, as applicable. Any failure to so tender any Unit shall have no force or effect. Upon exercise of Warrants, the Call Options and Call Rights represented by such Warrants shall be automatically canceled. The certificate representing such Warrants shall be deemed to represent the corresponding Class A Units and Class B Units called by the exercise thereof. The Trustee shall distribute the Trust Property to the Warrantholder as specified in Section 1.2 of Schedule III, and upon such distribution such Class A Units and Class B Units shall be canceled. First Regular Call Date: As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Initial Notional Amortizing Balance and $0.01 (one cent) Initial Notional Amortizing Balance in excess thereof. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemption of the Underlying Securities or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: March 1, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇: ▇▇▇▇▇▇ ▇▇▇▇▇▇ dollars Business Day: New York, New York and Chicago, Illinois Interest Rate and Class B Payments: The right of the Class A Units to accrued interest is pari passu with the right of the Class B Units to accrued Class B Payments from accrued interest on the Underlying Securities. Class A Units: The interest rate on the Class A Units is 7.00% per annum on the basis of a 360 day year consisting of twelve 30 day months. Class B Payments: $44.66 ($164,813 / 3,690 Class B Units) is expected to be paid on each Class B Unit on each distribution date thereafter, in each case from interest rec...
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Related to Callable Series

  • Optional Redemption upon Equity Offerings At any time, or from time to time, prior to June 1, 2010, the Company may, at its option, use an amount not to exceed the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the aggregate principal amount of the Notes (which includes Additional Notes, if any) originally issued under this Indenture at a redemption price of 110.500% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon, to the Redemption Date; provided that: (1) at least 65% of the principal amount of Notes (which includes Additional Notes, if any) originally issued under this Indenture remains outstanding immediately after any such redemption; and (2) the Company makes such redemption not more than 120 days after the consummation of any such Equity Offering.

  • Payment of Notes Called for Redemption (a) If any Redemption Notice has been given in respect of the Notes in accordance with Section 16.02, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price. (b) Prior to the open of business on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Redemption Date for such Notes. The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price.

  • Redemption and Repurchase; Discharge Prior to Redemption or Maturity This Note is subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to this Note. If the Company deposits with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if any, and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture.

  • Optional Tax Redemption The Companies may, at their or the Parent Guarantor’s option, redeem the Securities of this series in whole, but not in part, upon not less than thirty (30) nor more than sixty (60) days’ prior notice, at a redemption price equal to 100% of the principal amount of the Securities of this series then outstanding plus accrued and unpaid interest on the principal amount being redeemed (and all Additional Amounts, if any) to (but excluding) the Redemption Date, if (i) as a result of any change in, or amendment to, the laws, treaties, regulations or rulings of a jurisdiction in which either Company or any Guarantor is incorporated, organized, or otherwise tax resident or any political subdivision or any authority thereof or therein having power to tax, or in the interpretation, application or administration of any such laws, treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction) which becomes effective on or after October 26, 2018 (any such change or amendment, a “Change in Tax Law”), the relevant Company or, if a payment were then due under a Guarantee, the relevant Guarantor, would be required to pay Additional Amounts and (ii) such obligation cannot be avoided by the relevant Company or the relevant Guarantor taking reasonable measures available to it; provided, however, that the Securities of this series may not be redeemed to the extent such Additional Amounts arise solely as a result of the relevant Company assigning its obligations under the Securities of this series to a Substitute Company, unless such assignment to a Substitute Company is undertaken as part of a plan of merger by the Parent Guarantor. Prior to the mailing of any notice of redemption pursuant to this Section, the relevant Company or the relevant Guarantor will deliver to the Trustee an opinion of independent tax counsel of recognized standing to the effect that the relevant Company or the relevant Guarantor is or would be obligated to pay such Additional Amounts as a result of such Change in Tax Law. No notice of redemption pursuant to this Section may be given earlier than ninety (90) days prior to the earliest date on which the relevant Company or the relevant Guarantor would be obligated to pay Additional Amounts if a payment in respect of the Securities of this series were then due.

  • Optional Redemption of Notes (a) The Issuer shall have the right to redeem the Notes at its option and in its sole discretion at any time or from time to time prior to the Maturity Date, in whole or in part. Prior to the Par Call Date, the redemption price (“Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) that would be due if the Notes matured on the Par Call Date, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 25 basis points, plus, in each case, accrued and unpaid interest thereon to the Redemption Date; provided, however, that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). If the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date. (b) The Issuer shall not redeem the Notes pursuant to Section 3.01(a) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Notes to be redeemed).