Common use of Optional Redemption Notice Clause in Contracts

Optional Redemption Notice. To call this Note or any portion of this Note for Optional Redemption, the Issuer shall give a notice of repurchase to the Holder (an “Optional Redemption Notice”), which shall specify the Note to be repurchased and shall state: (a) the Optional Redemption Date, which shall be at least sixty (60) calendar days prior to the Maturity Date; (b) the Optional Redemption Price; (c) the name and address of the Paying Agent and Conversion Agent; (d) that a Note called for repurchase may be converted at any time prior to the close of business on the Business Day immediately preceding the Optional Redemption Date unless the Issuer fails to pay the Optional Redemption Price (in which case the Note shall thereafter remain convertible); (e) that the Holders who elect to convert their Notes must satisfy the requirements set forth in the Optional Redemption Notice; and (f) that, unless the Issuer defaults in making payment of the Optional Redemption Price, interest, if any, will cease to accrue on and after payment in full of the Optional Redemption Price.

Appears in 2 contracts

Sources: Convertible Note Purchase Agreement (DiamondHead Holdings Corp.), Convertible Note Purchase Agreement (DiamondHead Holdings Corp.)

Optional Redemption Notice. To call this Note or any portion of this Note for Optional Redemption, the Issuer shall give a notice of repurchase to the Holder (an “Optional Redemption Notice”), which shall specify the Note to be repurchased and shall state:: ​ (a) the Optional Redemption Date, which shall be at least sixty (60) calendar days prior to the Maturity Date;; ​ (b) the Optional Redemption Price;; ​ ​ (c) the name and address of the Paying Agent and Conversion Agent; (d) that a Note called for repurchase may be converted at any time prior to the close of business on the Business Day immediately preceding the Optional Redemption Date unless the Issuer fails to pay the Optional Redemption Price (in which case the Note shall thereafter remain convertible);; ​ (e) that the Holders who elect to convert their Notes must satisfy the requirements set forth in the Optional Redemption Notice; and (f) that, unless the Issuer defaults in making payment of the Optional Redemption Price, interest, if any, will cease to accrue on and after payment in full of the Optional Redemption Price.

Appears in 1 contract

Sources: Convertible Note Purchase Agreement (United Homes Group, Inc.)