Common use of Payment of Interest; Defaulted Interest Clause in Contracts

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 2 contracts

Sources: Indenture (Harman International Industries Inc /De/), Indenture (Harman International Industries Inc /De/)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, Company at its election election, in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0214.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 2 contracts

Sources: Indenture (Superior Energy Services Inc), Indenture (Hornbeck Offshore Services Inc /La)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest Interest and Additional AmountsInterest, if any, on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional AmountsInterest, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.11, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional AmountsInterest, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 2 contracts

Sources: Indenture (Venoco, Inc.), Indenture (Venoco, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerIssuers, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuers shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuers shall promptly notify the Issuer Trustee of such Special Record DateDate and shall, or at the written request and in the name and at the expense of the IssuerIssuers, shall the Trustee shall, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 2 contracts

Sources: Indenture (Axalta Coating Systems Ltd.), Indenture (Axalta Coating Systems Ltd.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Issuer Trustee, in writing, of such Special Record DateDate and shall, or at the written request and in the name and at the expense of the IssuerCompany, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 2 contracts

Sources: Indenture (CNO Financial Group, Inc.), Indenture (CNO Financial Group, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest Interest and Additional AmountsInterest, if any, on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 PIK Interest on the Notes will be payable (A) with respect to Notes represented by one or more Global Notes on the Securities relevant Record Date by increasing the principal amount of the outstanding Global Note by an amount equal to the amount of PIK Interest for the applicable Interest Period (rounded up to the nearest whole dollar) and (B) with respect to Notes represented by Definitive Notes, by issuing PIK Notes in certificated form in an aggregate principal amount equal to the amount of PIK Interest for the applicable Interest Period (rounded up to the nearest whole dollar). On any seriesInterest Payment Date on which the Company pays PIK Interest with respect to a Global Note, the Trustee shall increase the principal amount of such Global Note by an amount equal to the amount of PIK Interest for the applicable Interest Period (rounded up to the nearest whole dollar) on the principal amount of such Global Note as of the relevant Record Date for such Interest Payment Date, to the credit of the Holders on such Record Date and an adjustment shall be made on the books and records of the Registrar with respect to such Global Note to reflect such increase. On any Interest Payment Date on which the Company makes a PIK Payment be issuing PIK Notes in certificated form, the Trustee will, upon a Company Order, authenticate and deliver such PIK Notes in certificated form for original issuance to the Holders on the relevant Record Date, as shown by the records of the register of Holders. Any interest and Additional AmountsInterest, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.11, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional AmountsInterest, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (DENVER PARENT Corp)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, (a) Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall Interest Payment Date will be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any 2.3. (b) Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall will forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall will be paid by the Issuer, at its election in each case, as provided in clause (ai) or (bii) below: (ai) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall will be fixed in the following manner. The Issuer shall will notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period will be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall Issuer will fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall will be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall Issuer will promptly notify the Issuer Trustee of such Special Record DateDate and will, or at the written request and in the name and at the expense of the Issuer, shall the Trustee will, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall will be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (bii). (bii) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall will be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall Note will carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Leslie's, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, if any such interest payment date (other than an interest payment date at maturity) would otherwise be a day that is not a Business Day, then the interest payment shall be postponed to the next succeeding Business Day (except if that Business Day falls in the next succeeding calendar month, then interest shall be paid on the immediately preceding Business Day). If the maturity date of the Notes is a day that is not a Business Day, all payments to be made on such day shall be made on the next succeeding Business Day, with the same force and effect as if made on the maturity date. In either of such cases, no additional interest shall be payable as a result of such delay in payment. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Blockbuster Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, (a) Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall Interest Payment Date will be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.08. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any 2.3. (b) Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall will forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall will be paid by the IssuerIssuers, at its their election in each case, as provided in clause (ai) or (bii) below: (ai) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall will be fixed in the following manner. The Issuer shall Issuers will notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period will be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall Issuers will deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall will make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall Issuers will fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall will be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall Issuers will promptly notify the Issuer Trustee of such Special Record DateDate and will, or at the written request and in the name and at the expense of the IssuerIssuers, shall the Trustee will, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall will be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall will no longer be payable pursuant to the following clause (bii). (bii) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee of the proposed payment pursuant to this clauseclause (ii), such manner of payment shall will be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall Note will carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Neiman Marcus Group LTD Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, Company at its election election, in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Group 1 Automotive Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, (a) Interest --------------------------------------- on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any ----------- (b) Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and date by virtue of having been such Holder. Such defaulted interest and ("Defaulted --------- Interest") shall, without regard to the extent lawful) interest on such defaulted interest at the rate provided for in the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall any applicable grace periods, be paid by the Issuer-------- Company at the rate of 2% per annum in excess of the rate shown on the Note, at its election in each case, as provided in clause (ai) or (bii) below: (ai) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer ----------------------------- Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, ------------------- Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02, 13.2 not less ------------ than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bii). (bii) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12, each Security ------------ Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (BGF Industries Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest Interest and Additional AmountsSpecial Interest, if any, on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional AmountsSpecial Interest, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerIssuers, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Issuers of such Special Record Date, and in the name and at the expense of the IssuerIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.11, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional AmountsSpecial Interest, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Tronox Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Issuer Trustee of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, if any such Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise be a day that is not a Business Day, then the Interest Payment Date shall be postponed to the next succeeding Business Day (except if that Business Day falls in the next succeeding calendar month, then interest shall be paid on the immediately preceding Business Day). If the maturity date of the Notes is a day that is not a Business Day, all payments to be made on such day shall be made on the next succeeding Business Day, with the same force and effect as if made on the maturity date. In either of such cases, no additional interest shall be payable as a result of such delay in payment. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Zekelman Industries, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series First Lien Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security First Lien Note (or one or more predecessor SecuritiesFirst Lien Notes) is registered at the close of business on the regular record date for such interest payment at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08SECTION 2.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security First Lien Note of such a series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor First Lien Notes of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities First Lien Notes of a series (or their respective predecessor SecuritiesFirst Lien Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security First Lien Note of a series and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause providedSECTION 2.15(a). Thereupon the Trustee Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 20 calendar days and not less than 10 15 calendar days prior to the Special Interest Payment Date and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02SECTION 13.2, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities First Lien Notes of a series (or their respective predecessor SecuritiesFirst Lien Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bprovisions in SECTION 2.15(b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities First Lien Notes of a series may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseSECTION 2.15(b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12SECTION 2.15, each Security First Lien Note of a series delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security First Lien Note of such series shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityFirst Lien Note.

Appears in 1 contract

Sources: Indenture (iHeartMedia, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.029.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Tower Automotive Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing or anything to the contrary in this Indenture or the Notes, if any such Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise be a day that is not a Business Day, then the Interest Payment Date shall be postponed to the next succeeding Business Day (except if that Business Day falls in the next succeeding calendar month, then interest shall be paid on the immediately preceding Business Day). If the maturity date of the Notes is a day that is not a Business Day, all payments to be made on such day shall be made on the next succeeding Business Day, with the same force and effect as if made on the maturity date. In either of such cases, no additional interest shall be payable as a result of such delay in payment. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (McClatchy Co)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerIssuers, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Issuers shall notify the Trustee or the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee or the Paying Agent) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Issuers shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuers shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee or the Paying Agent of the notice of the proposed payment. The Trustee Issuers shall promptly notify the Issuer Trustee or the Paying Agent of such Special Record DateDate and shall, or at the written request and in the name and at the expense of the IssuerIssuers, shall the Trustee or the Paying Agent shall, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee or the Paying Agent of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the TrusteeTrustee or the Paying Agent. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Axalta Coating Systems Ltd.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.5. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Manor Care Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided The principal of (and premium, if any) and interest on the Securities shall be payable at the office or agency of the Company maintained for such purpose in the Borough of Manhattan in the City of New York, or at such other office or agency of the Company as contemplated may be maintained for such purpose pursuant to Section 2.3; provided, however, that, at the option of the Company, each installment of interest may be paid by Section 2.01 check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Note Register and; provided, further, that all payments with respect to the Securities, the Holders of which have given wire transfer instructions to the Company and the Paying Agent prior to the applicable record date for such payment, will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Payments in respect of Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of any seriesimmediately available funds to the accounts specified by the Depositary. The Company will pay principal, interest and Additional Amountspremium, if any, and interest in Euros. Interest on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not punctually paid or duly provided for when the same becomes due and payable and such nonpayment continues for a period of 30 days payable, shall forthwith cease to be payable to the Holder on the relevant regular record datedate by virtue of having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause (a) provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any such Defaulted Interest to the Persons in whose names such Securities are registered at the close of business on a specified date in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Euro Indenture (Trylon Corp/Mi/)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.03 hereof. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business (London time) on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee or the Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.02 hereof, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business (London time) on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.11, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture Agreement (Bunge Finance Europe B.V.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”"SPECIAL INTEREST PAYMENT DATE"), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”"SPECIAL RECORD DATE") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Rj Reynolds Tobacco Holdings Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, (a) Interest --------------------------------------- on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Paying Agent of the Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any ----------- (b) Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for of 1.0% per annum in excess of the Securities therefor rate shown on the Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall shall, without ------------------ regard to any applicable grace period, be paid by the Issuer, Company at its election in each case, as provided in clause (ai) or (bii) below: (ai) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer ----------------------------- Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed paymentSpecial Interest Payment Date, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, ------------------- Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02, 13.2 not less than 10 days prior to such Special Record ------------ Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bii). (bii) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable practical by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Global Imaging Systems Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesPredecessor Notes) is registered at the close of business on the regular record date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause providedSection 2.15(a). Thereupon the Trustee Company shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 20 calendar days and not less than 10 15 calendar days prior to the Special Interest Payment Date and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the IssuerCompany, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.1, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bprovisions in Section 2.15(b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseSection 2.15(b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Getty Images Holdings, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest Interest and Additional AmountsSpecial Interest, if any, on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional AmountsSpecial Interest, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the IssuerIssuers, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Issuers of such Special Record Date, and in the name and at the expense of the IssuerIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.11, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional AmountsSpecial Interest, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Tronox Inc)

Payment of Interest; Defaulted Interest. Unless Except as otherwise provided as contemplated by Section 2.01 herein with respect to the Securities any Series of any seriesSecurities, interest and Additional Amounts, if any, on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such that Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest. Any interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any interest and Additional Amounts, if any, on any Security of such series any Series which is payable, but is not punctually paid when the same becomes due and payable and such nonpayment continues for a period of 30 days or duly provided for, on any Interest Payment Date (“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the regular record daterelevant Regular Record Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall Interest may be paid by the IssuerCompany, at its election in each case, as provided in clause (a1) or (b2) below: (a1) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) of such Series are registered at the close of business on a Special Record Date (as defined below) special record date for the payment of such Defaulted Interest, which shall be fixed in the following mannermanner set forth in this clause (1). The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such Series and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”)payment, and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedclause. Thereupon At such time the Trustee Company shall fix a special record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not no more than 15 days and not less than 10 days prior to the Special Interest Payment Date date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Issuer Trustee of such Special Record Datespecial record date and, and in the name names and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor related special record date to be given mailed, first-class postage prepaid, to each Holder of Securities of such Series at such Holder’s address as it appears in the manner provided for Security Register, or, in Section 12.02the case of a Global Security, shall cause such notice to be sent in accordance with the Applicable Procedures, not less than 10 days prior to such Special Record Datespecial record date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor related special record date having been so givenmailed or sent, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) of such Series are registered at the close of business on such Special Record Date special record date and shall no longer be payable pursuant to the following clause Following Clause (b2). (b2) The Issuer Company may make payment of any Defaulted Interest on the Securities of any Series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Sterling Bancorp)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series which Note that is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date will be at a rate of 1.875% per annum, payable semi-annually in arrears on March 15 and September 15 of each year, and shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Regular Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3 regardless of whether or not such Holders convert their Notes. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which Note that is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each caseelection, as provided in clause (a) or (b) below: (a) : The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time Company shall make arrangements reasonably satisfactory to the Issuer shall Trustee and the Paying Agent to deposit with the Trustee Paying Agent an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest on or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company and the Paying Agent of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor therefor, which notice shall be prepared by the Company and shall be in a form reasonably acceptable to the Trustee, to be given in the manner provided for in Section 12.0211.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) Notes are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the TrusteeDate. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of transfer of, transfer of or in exchange for for, or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, unpaid which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Stillwater Mining Co /De/)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to Interest on the Securities of any series, interest and Additional Amounts, if any, on any Security of such series Notes which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is the Notes are registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Parent or the Subsidiary Issuer, as the case may be, maintained for such purpose pursuant to Section 2.081.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Parent Note or Subsidiary Note, which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the Parent or the Subsidiary Issuer, as the case may be, at its election in each case, as provided in clause (a) or (b) below: (aA) The Issuer Parent or the Subsidiary Issuer, as the case may be, may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are Note is registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Parent or the Subsidiary Issuer, as the case may be, shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer Parent or the Subsidiary Issuer, as the case may be, shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Parent or the Subsidiary Issuer, as the case may be, of such Special Record Date, and in the name and at the expense of the Parent or the Subsidiary Issuer, as the case may be, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) Units are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (bB) The Issuer Parent or the Subsidiary Issuer, as the case may be, may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Units may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Parent or the Subsidiary Issuer, as the case may be, to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: First Supplemental Indenture (Brown Tom Inc /De)

Payment of Interest; Defaulted Interest. Unless otherwise provided The principal of (and premium, if any) and interest on the Securities shall be payable at the office or agency of the Company maintained for such purpose in the Borough of Manhattan in the City of New York, or at such other office or agency of the Company as contemplated may be maintained for such purpose pursuant to SECTION 2.3 herein; PROVIDED, HOWEVER, that, at the option of the Company, each installment of interest may be paid by Section 2.01 check mailed to addresses of the Persons entitled thereto as such addresses shall appear on the Security Register and; PROVIDED, FURTHER, that all payments with respect to the Securities, the Holders of which have given wire transfer instructions to the Company and the Paying Agent prior to the applicable record date for such payment, will be required to be made by wire transfer of immediately available funds to the accounts specified by the Holders thereof. Payments in respect of Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of any series, interest and Additional Amounts, if any, immediately available funds to the accounts specified by DTC. Interest on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.08SECTION 2.3 herein. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not punctually paid or duly provided for when the same becomes due and payable and such nonpayment continues for a period of 30 days payable, shall forthwith cease to be payable to the Holder on the relevant regular record datedate by virtue of having been such a Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”"DEFAULTED INTEREST") shall be paid by the IssuerCompany, at its election in each case, as provided in clause CLAUSE (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause CLAUSE (a) provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”"SPECIAL RECORD DATE") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02SECTION 12.2 herein, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause CLAUSE (b). (b) The Issuer Company may make payment of any such Defaulted Interest to the Persons in whose names such Securities are registered at the close of business on a specified date in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (International Truck & Engine Corp)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Interest Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateInterest Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such noticenotice is received by the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in under Section 12.0213.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Eye Care Centers of America Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.082.03. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer or the Guarantor, as the case may be, may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer or the Guarantor, as the case may be, shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Defaulted Interest Payment Date”), and at the same time the Issuer or the Guarantor, as the case may be, shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Defaulted Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer or the Guarantor, as the case may be, of such Special Record Date, and in the name and at the expense of the IssuerIssuer or the Guarantor, as the case may be, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Defaulted Interest Payment Date therefor to be given in the manner provided for in Section 12.029.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Defaulted Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Defaulted Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer or the Guarantor, as the case may be, may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer or the Guarantor, as the case may be, to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Kingsway Financial Services Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on --------------------------------------- any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any ----------- Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called "Defaulted Interest") shall be paid by the IssuerCompany, at its election in ------------------ each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and ----------------------------- at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such ------------------- Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.2, not less than 10 days prior to such ------------ Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Applied Business Telecommunications)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to Interest on the Securities Notes of any series, interest and Additional Amounts, if any, on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.03. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities Any interest on any Note of any series, any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest on any series of Notes to the Persons in whose names the Securities Notes of such series (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 25 days after the Trustee’s receipt of such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Company shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the IssuerCompany, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes of such series (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest on any series of Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes of such series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.14, each Security Note for any series delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note of such series shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote of such series.

Appears in 1 contract

Sources: Indenture (Cleveland-Cliffs Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Second Lien Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Second Lien Note (or one or more predecessor SecuritiesSecond Lien Notes) is registered at the close of business on the regular record date for such interest payment at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08SECTION 2.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Second Lien Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Second Lien Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Second Lien Notes (or their respective predecessor SecuritiesSecond Lien Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Second Lien Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause providedSECTION 2.15(a). Thereupon the Trustee Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 20 calendar days and not less than 10 15 calendar days prior to the Special Interest Payment Date and not less than 10 calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02SECTION 13.2, not less than 10 calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Second Lien Notes (or their respective predecessor SecuritiesSecond Lien Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bprovisions in SECTION 2.15(b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Second Lien Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseSECTION 2.15(b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12SECTION 2.15, each Security Second Lien Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Second Lien Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecuritySecond Lien Note.

Appears in 1 contract

Sources: Indenture (iHeartMedia, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”"DEFAULTED INTEREST") shall be paid by the Issuer, Company at its election election, in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”"SPECIAL INTEREST PAYMENT DATE"), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”"SPECIAL RECORD DATE") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0214.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (L-1 Identity Solutions, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest Interest and Additional AmountsInterest, if any, on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional AmountsInterest, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.13, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and Additional AmountsInterest, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Nuevo Permian Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such noticenotice unless a shorter period shall be acceptable to the Trustee) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, if any such Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise be a day that is not a Business Day, then the Interest Payment Date shall be postponed to the next succeeding Business Day (except if that Business Day falls in the next succeeding calendar month, then interest shall be paid on the immediately preceding Business Day). If the maturity date of the Notes is a day that is not a Business Day, all payments to be made on such day shall be made on the next succeeding Business Day, with the same force and effect as if made on the maturity date. In either of such cases, no additional interest shall be payable as a result of such delay in payment. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (McClatchy Co)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest Additional Interest and Additional Amounts, if any, Reporting Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor of such series (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, Company at its election election, in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest (including any Additional Interest and Additional Amounts, if any, each as Reporting Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Kyphon Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Regular Record Date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany or any of the Guarantors, at its their election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company or any of the Guarantors may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company or such Guarantor shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time Company or such Guarantor shall make arrangements reasonably satisfactory to the Issuer shall Trustee to deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest on or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company or such Guarantor of such Special Record Date, and in the name and at the expense of the IssuerCompany or such Guarantor, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0215.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company or any Guarantor may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company or such Guarantor to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of transfer of, transfer of or in exchange for for, or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, unpaid which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Saks Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date Record Date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record dateRecord Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Issuer Trustee of such Special Record Date, and the Issuer may request that the Trustee, in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.1, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseclause (b), such manner of payment shall be deemed practicable by the Trustee. Notwithstanding the foregoing, if any such Interest Payment Date (other than an Interest Payment Date at maturity) would otherwise be a day that is not a Business Day, then the interest payment shall be postponed to the next succeeding Business Day (except if such Business Day falls in the next succeeding calendar month, then interest shall be paid on the immediately preceding Business Day). If the maturity date of the Notes is a day that is not a Business Day, all payments to be made on such day shall be made on the next succeeding Business Day, with the same force and effect as if made on the maturity date. In either of such cases, no additional interest shall be payable as a result of such delay in payment. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (American Axle & Manufacturing Holdings Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, (a) Interest --------------------------------------- on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Issuers maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any ----------- (b) Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and date by virtue of having been such Holder. Such defaulted interest and ("Defaulted --------- Interest") shall, without regard to the extent lawful) interest on such defaulted interest at the rate provided for in the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall any applicable grace periods, be paid by the Issuer-------- Issuers at the rate of 2% per annum in excess of the rate shown on the Note, at its election in each case, as provided in clause (ai) or (bii) below: (ai) The Issuer Issuers may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Issuers shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer ----------------------------- Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, Interest which date ------------------- shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Issuers of such Special Record Date, and in the name and at the expense of the IssuerIssuers, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02, 13.2 not less than 10 days prior to such Special Record Date. ------------ Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bii). (bii) The Issuer Issuers may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Issuers to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. . (c) Subject to the foregoing provisions of this Section 2.12, each Security ------------ Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Advanced Glassfiber Yarus LLC)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date Interest Payment Date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, Company at its election election, in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0214.01, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Hornbeck Offshore Services Inc /La)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, (a) Cash interest and Additional Amounts, if any, on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. (b) The Company is required to make payments of accrued interest (whether in the form of an increase in the Accreted Value of the Securities or otherwise) in an amount and at a time such that the Securities will not be issued with “significant original issue discount” within the meaning of Section 163(i)(2) of the Code. Unless otherwise provided as contemplated As such, the Company will pay by Section 2.01 with respect the end of the first accrual period ending after the fifth anniversary of the Issue Date an amount such that at no time during the continued term of the Securities will there be accrued but unpaid interest on the Securities exceeding an amount equal to the product of (i) the original issue price of the Initial Securities (within the meaning of any seriesSection 1273(b) and Section 1274(a) of the Code) and (ii) the Initial Securities’ yield to maturity. Moreover, any the Company may make payments of accrued and unpaid interest to the Holders of the Securities as of August 15, 2008, in addition to making the payment by the time described in the preceding sentence. Any payments made pursuant this Section 2.13(b) will reduce the Accreted Value and Additional Amountsprincipal amount at maturity of the Securities; however, the amount of such reduction of Accreted Value and principal amount at maturity of the Securities will be the Accreted Value and principal amount at maturity of Securities that the Company could have redeemed if it had instead applied such payments of accrued interest to make a partial redemption of the Securities at the applicable redemption prices set forth in paragraph 5 of the form of Securities set forth in Exhibits A and B hereto. Notice of the mandatory payment to be made pursuant to this Section 2.13(b) shall be given in the manner provided for in Section 10.2 not less than 30 nor more than 60 days prior to the date of such payment, to each the Trustee and each Holder receiving such a payment. At the Company’s request, the Trustee shall give notice of the mandatory payment in the Company’s name and at the Company’s expense; provided, however, that the Company shall deliver to the Trustee, at least 45 days prior to the payment date, an Officers’ Certificate requesting that the Trustee give such notice at the Company’s expense and setting forth the information to be stated in such notice as provided in the following items. Such notice of the mandatory payment shall state: (1) the date of such payment, (2) the amount of such payment, (3) the name and address of the Paying Agent, and (4) the CUSIP number, and that no representation is made as to the accuracy or correctness of the CUSIP number, if any, listed in such notice or printed on the Securities. The mandatory payment under this Section 2.13(b) shall be made on a pro rata basis among the classes of Securities, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate (and in such manner as complies with applicable legal requirements); provided, however, that no such payment shall reduce the portion of the principal amount at maturity of a Security to less than $1,000. Prior to 11:00 a.m., New York City time, on the mandatory payment date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.4) the amount of money required to be paid pursuant to this Section 2.13(b). Upon making the mandatory payment required pursuant to this Section 2.13(b), the Company may execute, and the Trustee shall authenticate and make available for delivery to each Holder of the Securities at the expense of the Company, a new Security or Securities, of any authorized denomination as requested by such Holder, in an aggregate principal amount at maturity equal to and in exchange for the unpaid portion of the principal amount at maturity of such Holder’s Securities. Such delivery shall only be made upon surrender of such unpaid Security at the office or agency of the Company maintained for such purpose pursuant to Section 3.13. The Accreted Value and principal amount at maturity of the Securities shall be reduced as set forth in this Section 2.13(b), whether or not such Securities are surrendered. (c) Any cash interest on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a1) or (b2) below: (a1) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0210.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b2) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the Accreted Value and the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Mq Associates Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.5. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted ADefaulted Interest") shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the "Special Interest Payment Date"), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the "Special Record Date") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Rj Reynolds Tobacco Holdings Inc)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesNotes) is registered at the close of business on the regular record date for such interest at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record datedate by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0211.2, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.12Section, each Security Note delivered under this Indenture upon registration of, of transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Earth Products, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security NOTE (or one or more predecessor SecuritiesOR ONE OR MORE PREDECESSOR NOTES) is registered at the close of business on the regular record date for such IS REGISTERED AT THE CLOSE OF BUSINESS ON THE REGULAR RECORD DATE FOR SUCH PAYMENT AT THE OFFICE OR AGENCY OF THE COMPANY MAINTAINED FOR SUCH PURPOSE PURSUANT TO Section 2.3. Any interest at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.08. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each caseelection, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause providedSection 2.15(a). Thereupon the Trustee Company shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 twenty (20) calendar days and not less than 10 fifteen (15) calendar days prior to the Special Interest Payment Date and not less than 10 ten (10) calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Company shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the IssuerCompany, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0213.1, not less than 10 ten (10) calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesPredecessor Notes) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (bprovisions in Section 2.15(b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clauseSection 2.15(b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (TripAdvisor, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest and Additional Amounts, if any, Interest on any Security of such series Note which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security Note (or one or more predecessor SecuritiesPredecessor Notes) is registered at the close of business (New York City time) on the regular record date for such interest payment at the office or agency of the Issuer maintained for such purpose pursuant to Section 2.082.3. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series Note which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days shall forthwith cease to be payable to the Holder on the regular record date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the Issuer, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business (New York City time) on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security Note and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as provided in this clause providedSection 2.15(a). Thereupon the Trustee Issuer shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 twenty (20) calendar days and not less than 10 fifteen (15) calendar days prior to the Special Interest Payment Date and not less than 10 ten (10) calendar days after the receipt by the Trustee of the notice of the proposed payment. The Trustee Issuer shall promptly notify the Issuer Trustee in writing of such Special Record Date, and in the name and at the expense of the Issuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0212.2, not less than 10 ten (10) calendar days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities Notes (or their respective predecessor SecuritiesNotes) are registered at the close of business (New York City time) on such Special Record Date and shall no longer be payable pursuant to the following clause (bprovisions in Section 2.15(b). (b) The Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this clauseSection 2.15(b), such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security Note delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security Note shall carry the rights to interest and Additional Amounts, if any, each as accrued and unpaid, and to accrue, which were carried by such other SecurityNote.

Appears in 1 contract

Sources: Indenture (Greatbatch, Inc.)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest and Additional Amounts, if any, Interest) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 days after such notice) of the proposed payment (the “Special Interest Payment Date”), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”) for the payment of such Defaulted Interest, which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer of such Special Record Date, and in the name and at the expense of the Issuer, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b).fix (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest and (including any Additional Amounts, if any, each as Interest) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (Pier 1 Imports Inc/De)

Payment of Interest; Defaulted Interest. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of Interest (including any series, interest Contingent Interest and Additional Amounts, if any, Liquidated Damages) on any Security of such series which is payable, and is punctually paid or duly provided for, on any interest payment date shall be paid to the Person in whose name such Security (or one or more predecessor Securities) is registered at the close of business on the regular record date Regular Record Date for such interest payment at the office or agency of the Issuer Company maintained for such purpose pursuant to Section 2.082.05. Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, any Any interest and Additional Amounts, if any, on any Security of such series which is payable, but is not paid when the same becomes due and payable and such nonpayment continues for a period of 30 days days, shall forthwith cease to be payable to the Holder on the regular record dateRegular Record Date, and such defaulted interest and (to the extent lawful) interest on such defaulted interest at the rate provided for in borne by the Securities therefor (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”"DEFAULTED INTEREST") shall be paid by the IssuerCompany, at its election in each case, as provided in clause (a) or (b) below: (a) The Issuer Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on a Special Record Date (as defined below) for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 30 45 days after such notice) of the proposed payment (the “Special Interest Payment Date”"SPECIAL INTEREST PAYMENT DATE"), and at the same time the Issuer Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a record date (the “Special Record Date”"SPECIAL RECORD DATE") for the payment of such Defaulted Interest, Interest which date shall be not more than 15 days and not less than 10 days prior to the Special Interest Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Issuer Company of such Special Record Date, and in the name and at the expense of the IssuerCompany, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor to be given in the manner provided for in Section 12.0214.02, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Interest Payment Date therefor having been so given, such Defaulted Interest shall be paid on the Special Interest Payment Date to the Persons in whose names the Securities (or their respective predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (b). (b) The Issuer Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Issuer Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. Subject to the foregoing provisions of this Section 2.122.15, each Security delivered under this Indenture upon registration of, transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest (including any Contingent Interest and Additional Amounts, if any, each as Liquidated Damages) accrued and unpaid, and to accrue, which were carried by such other Security.

Appears in 1 contract

Sources: Indenture (King Pharmaceuticals Inc)