Common use of Extinguishment of the Exchanged Notes Clause in Contracts

Extinguishment of the Exchanged Notes. It is intended that, upon the consummation of the Exchange, the Company will tender the Exchanged Notes to U.S. Bank National Association (the “Trustee”) under the Indenture relating to the 2025 Notes dated as of March 9, 2020, between the Company and the Trustee, for cancellation, and the Exchanged Notes surrendered hereunder shall be cancelled and shall be null and void, and any and all rights arising thereunder shall be extinguished and the Company shall no longer be required to reserve any shares of Common Stock for issuance upon conversion of the Exchanged Notes. The foregoing notwithstanding, the Holder shall be entitled to receive the regular interest payment scheduled to be paid on the Exchanged Notes on March 1, 2021.

Appears in 1 contract

Sources: Exchange Agreement (Enphase Energy, Inc.)

Extinguishment of the Exchanged Notes. It is intended that, upon the consummation of the Exchange, the Company will tender the Exchanged Notes to U.S. Bank National Association (the “Trustee”) under the Indenture relating to the 2025 2024 Notes dated as of March 9June 5, 20202019, between the Company and the Trustee, for cancellation, and the Exchanged Notes surrendered hereunder shall be cancelled and shall be null and void, and any and all rights arising thereunder shall be extinguished and the Company shall no longer be required to reserve any shares of Common Stock for issuance upon conversion of the Exchanged Notes. The foregoing notwithstanding, the Holder shall be entitled to receive the regular interest payment scheduled to be paid on the Exchanged Notes on March 1, 2021.

Appears in 1 contract

Sources: Exchange Agreement (Enphase Energy, Inc.)