Description of the Debentures Clause Samples

Description of the Debentures. The Debentures shall be in the aggregate principal amount and shall mature on the date specified in Schedule I hereto, and shall be issued under and secured by the Indenture (For Unsecured Subordinated Debt Securities) dated as of December 1, 1995 ("Indenture"), of the Company to The First National Bank of Chicago as Trustee ("Trustee"). The Debentures shall bear interest at the rate per annum specified in Schedule I hereto. The Debentures and the Indenture are more fully described in the Prospectus hereinafter referred to.
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Description of the Debentures. Camtek will authorize the issue and delivery of the Debentures in the aggregate principal amount of US$5,000,000. The term of the Debentures shall commence upon the Closing and shall terminate at the end of the fifth anniversary of the Closing. The Debentures shall be convertible, in whole or in part, into such number of issued and outstanding Ordinary Shares of Camtek as determined by dividing (x) the principal amount of the Debentures outstanding and to be converted at such time by (y) the Conversion Price (as defined below). Subject to the Default provisions set forth below, (i) the principal shall be repaid in three equal annual payments commencing at the end of the third anniversary of the Closing; provided, however, that prior to each payment date, the Investors, at their sole discretion, may elect, by giving an irrevocable written notice to Camtek, at least seven (7) Business Days prior to a payment date, to have any portion of the principal be deferred and repaid on the fifth anniversary of the Closing; (ii) the Debentures shall bear dollar denominated interest, payable quarterly, at a floating annual rate equal to the then applicable 3 months’ LIBOR plus 2.1%, in each case with such interest payment being supplemented by applicable value added tax; provided, however, that any interest accrued and unpaid on the date on which the conversion of the Debentures is effected shall become immediately payable on such date of conversion; and (iii) be otherwise substantially in the form attached hereto as Exhibit 5(a). For the avoidance of doubt, the Debentures may not be prepaid without the Investors prior consent. Interest on each of the Debentures shall be computed on the basis of a 360 day year. For the purposes of this Section 5, any payment due to be made on a day which is not a Business Day shall be deferred to the next Business Day.
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Description of the Debentures. The aggregate principal amount of Debentures that may be issued under this Indenture is U.S.$71,168,174.00. The Debentures originally issued hereunder shall be dated on the Issue Date. The Debentures shall be senior unsecured obligations of the Corporation and, subject to Article 6 and Article 7, shall become due and payable, together with all accrued and unpaid interest thereon, on August 11, 2018. The Debentures shall be subject to repurchase by the Corporation as provided in Article 5 and Article 6. The Debentures shall not be redeemable by the Corporation, other than as provided in Article 7. The Debentures shall be convertible into Common Shares or other securities of the Corporation, as provided for in Article 8, and in the Debentures.
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Description of the Debentures. The Company has ----------------------------- authorized the issue and sale of Subordinated Convertible Debentures, in an aggregate principal amount not to exceed $10,000,000 in the form of Exhibit ------- B hereto, convertible into shares of the Company's common stock, $.01 par - value (the "Common Stock"), as set forth in Section 7 hereof (such Subordinated Convertible Debentures are hereinafter referred to as the "Debentures"). The Debentures will be dated the date of issue and bear interest at the rate of 7% per annum, payable semiannually, as provided therein. Principal of the Debentures shall be due and payable on February 13, 2008. On the Closing Date, the Company shall deliver to each Investor an executed copy of a Registration Rights Agreement in respect of the Debentures and the Warrants (as defined in Section 10.4 hereof) in substantially the form of Exhibit C hereto. ---------
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Description of the Debentures. The relative rights, preferences and limitations of the Debentures shall be, as follows: Purchasing Price 100% of face value. Closing Payment of funds into escrow; release of funds to the Company upon delivery of securities. Term 3 years from the date of issuance. Interest 12% per annum, payable quarterly on March 1, June 1, September 1 and December 1 in arrears, commencing on September 1, 1999. This interest rate will only be guaranteed for Debentures issued in the first tranche. Redemption Rights The Debentures cannot be redeemed during 12 months following the issue date. Between'12 months and 18 months from the issue date, the Company may redeem the Debentures at its sole discretion from time to time and in whole or in part, at a Interest Reserve Conversion Rights Registration Rights Ranking Security redemption price of 100% of the principal amount thereof, together with accrued and unpaid interest to the date of redemption, plus a 5% premium to the face value. The Premium will be paid in Company's Common Stock with no registration rights. If the Debentures are redeemed in part, redemption will be done on a pro-rata basis. The Company is required to maintain a fund sufficient to pay six months interest on the Debentures. The holders will have the right to convert the debenture into the common stock of the company after 12 months from the issue date. Conversion price will be $1.00 per share. After the 12 months from the issue date, should the share price of the Company be equal to or greater than $1.50 per share for 20 consecutive trading days, the Company shall have the right to force conversion of all outstanding Debentures at the average of the share price during the said 20 day trading period. The Company agrees to register with Securities and Exchange Commission (the "SEC"), the shares underlying the Debentures within 12 months of the Closing. The Debentures will be expressly subordinated to, and subject in right of payment to, the prior payment of the principal of, premium, if any, and interest on Senior indebtedness (as defined). Secured by a second priority security interest in all assets of the Company.
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Description of the Debentures. Each Debenture shall be in the principal amount of the accepted or allocated Subscription, shall be dated the Closing Date, shall bear interest from the date of its issuance on the unpaid principal balance at the rate of 6% per annum payable quarterly on the last day of March, June, September and December, commencing on the first of such dates immediately following the Closing Date, with a final interest payment on December 31, 2002 (the "Mandatory Conversion Date"), the date on which the Debentures shall be automatically converted to Company Common Stock in accordance with the Mandatory Conversion Ratio. The form of the Debenture is attached as Exhibit A. Reference is made to the Debenture, whose terms are incorporated herein by reference.
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Related to Description of the Debentures

  • Description of Notes 1 Section 1.2 Commitment, Closing Date ........................................................................... 1 Section 1.3

  • The Debentures SECTION 2.01.

  • Description of the Notes and the Indenture The Notes and the Indenture conform in all material respects to the descriptions thereof contained in the Disclosure Package and the Prospectus.

  • Form of Debentures Except in respect of the Initial Debentures, the form of which is provided for herein, the Debentures of each series shall be substantially in such form or forms (not inconsistent with this Indenture) as shall be established herein or by or pursuant to one or more resolutions of the Board of Directors (or to the extent established pursuant to, rather than set forth in, a resolution of the Board of Directors, in an Officers’ Certificate detailing such establishment) or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have imprinted or otherwise reproduced thereon such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto or with any rules or regulations of any securities exchange or securities regulatory authority or to conform to general usage, all as may be determined by the directors or officers of the Corporation executing such Debentures on behalf of the Corporation, as conclusively evidenced by their execution of such Debentures.

  • DESCRIPTION OF WARRANTS We may issue Warrants for the purchase of our Common Stock or Preferred Stock. As explained below, each Warrant will entitle its holder to purchase our Common Stock or Preferred Stock at an exercise price set forth in, or to be determined as set forth in, the related prospectus supplement. Warrants may be issued separately or together with our Common Stock or Preferred Stock. The Warrants are to be issued under warrant agreements to be entered into between us and the investors or a warrant agent. The particular terms of each issue of Warrants and the warrant agreement relating to the Warrants will be described in the applicable prospectus supplement, including, as applicable: • the title of the Warrants; • the initial offering price; • the aggregate number of warrants and the aggregate number of shares of Common Stock or Preferred Stock purchasable upon exercise of the warrants; • if applicable, the designation and terms of the equity securities with which the Warrants are issued, and the number of warrants issued with each equity security; • the date on which the right to exercise the Warrants will commence and the date on which the right will expire; • if applicable, the minimum or maximum number of the Warrants that may be exercised at any one time; • anti-dilution provisions of the Warrants, if any; • redemption or call provisions, if any, applicable to the Warrants; • any additional terms of the Warrants, including terms, procedures and limitations relating to the exchange and exercise of the Warrants; and • the exercise price. Holders of Warrants will not be entitled, solely by virtue of being holders, to vote, to receive dividends, to receive notice as stockholders with respect to any meeting or written consent of stockholders for the election of directors or any other matter, or to exercise any rights whatsoever as a holder of the equity securities purchasable upon exercise of the Warrants. Until any warrants to purchase Common Stock or Preferred Stock are exercised, the holder of the warrants will not have any rights of holders of Common Stock or Preferred Stock that can be purchased upon exercise.