Cancellation of Debentures Redeemed Clause Samples

The 'Cancellation of Debentures Redeemed' clause establishes that once debentures have been redeemed by the issuer, they are formally cancelled and cease to exist as outstanding obligations. In practice, this means that after the company repays the principal and any applicable interest on the debentures, those securities are removed from the company's records and cannot be reissued or transferred. This clause ensures that redeemed debentures do not re-enter circulation, thereby preventing confusion over the company's outstanding debt and maintaining accurate financial records.
Cancellation of Debentures Redeemed. Subject to the provisions of Sections 4.2 and 4.9 as to Debentures redeemed or purchased in part, all Debentures redeemed and paid under this Article 4 shall forthwith be delivered to the Debenture Trustee and cancelled and no Debentures shall be issued in substitution therefor.
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Cancellation of Debentures Redeemed. Subject to the provisions of Section 10.02 and Section 2.06 as to Debentures redeemed or purchased in part, all Debentures redeemed and paid under this Article X shall forthwith be delivered to the Canadian Trustee and cancelled and no Debentures shall be issued in substitution for those redeemed.
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Cancellation of Debentures Redeemed. 40 4.9 Purchase of Debentures by the Trust ......................... 40 4.10 Right to Repay Principal Amount in Trust Units ..............
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Cancellation of Debentures Redeemed. 39 4.9 Purchase of Debentures by the Corporation .......................... 39 4.10 Right to Repay Principal Amount in Common Shares .................. 40
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Cancellation of Debentures Redeemed. Section 4.9 Purchase of Debentures by the Corporation Section 4.10 Right to Repay Principal Amount in Shares at Maturity
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Cancellation of Debentures Redeemed. 46 Purchase of Debentures by the Corporation ............................................ 46 Right to Repay Principal Amount in Common Shares ............................ 47 Deposit of Maturity Monies or Common Shares ..................................... 50 ARTICLE 5 – SUBORDINATION OF DEBENTURES............................................................ 50 Section 5.1 Section 5.2 Section 5.3 Section 5.4 Section 5.5 Section 5.6 Section 5.7 Section 5.8 Section 5.9 Section 5.10 Section 5.11 Section 5.12 Section 5.13 Section 5.14 Section 5.15 Section 5.16 Section 5.17 Applicability of Article ............................................................................ 50 Definition ................................................................................................. 50 Order of Payment ..................................................................................... 50 Subrogation to Rights of Holders of Secured Indebtedness .................... 52 Obligation to Pay Not Impaired ............................................................... 52 No Payment if Senior Indebtedness in Default........................................ 52 Payment on Debentures Permitted........................................................... 53
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Related to Cancellation of Debentures Redeemed

  • Redemption of Debentures 15 Section 3.1. Redemption........................................................................16 Section 3.2. Special Event Redemption..........................................................16 Section 3.3. Optional Redemption by the Company................................................16 Section 3.4.

  • Issue and Redemption of Fund Shares All expenses incurred in connection with the issue, redemption, and transfer of the Fund’s shares, including the expense of confirming all share transactions;

  • 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).

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Cancellation of Debt The Borrower shall not cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.