Payment of the Redemption Value Clause Samples

The "Payment of the Redemption Value" clause defines the obligation and process for paying the amount due when a security, bond, or other financial instrument is redeemed before or at maturity. Typically, this clause specifies who is responsible for making the payment, the timing of the payment, and the method by which the redemption value is calculated and delivered to the holder. For example, it may require the issuer to pay the principal plus any accrued interest to the investor upon redemption. The core function of this clause is to ensure that all parties understand the financial and procedural terms governing redemption, thereby preventing disputes and ensuring timely and accurate settlement of obligations.
Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.1). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.2) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate (if any) in accordance with Clause 10.2, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.3. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.
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Related to Payment of the Redemption Value

  • Date Fixed for, and Notice of, Redemption; Redemption Price; Reference Value In the event that the Company elects to redeem the Warrants pursuant to Sections 6.1 or 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the “30-day Redemption Period”) to the Registered Holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and (b) “Reference Value” shall mean the last reported sales price of the Ordinary Shares for any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice of the redemption is given.

  • Early Redemption Amounts For the purposes of paragraphs (b), (c) and (d) above, Notes will be redeemed at an amount (the “Early Redemption Amount”) calculated as follows: (i) in the case of Notes with a Final Redemption Amount equal to their principal amount, at the Final Redemption Amount thereof; or (ii) in the case of Notes (other than Zero Coupon Notes) with a Final Redemption Amount which is or may be greater or less than their principal amount or which is payable in a Specified Currency other than that in which the Notes are denominated, at the amount set out in the applicable Pricing Supplement, or if no such amount or manner is set out in the applicable Pricing Supplement, at their principal amount; or (iii) in the case of Zero Coupon Notes, at an amount (the “Amortised Face Amount”) equal to: (A) the sum of (x) the Reference Price specified in the applicable Pricing Supplement and (y) the product of the Accrual Yield specified in the applicable Pricing Supplement (compounded annually) being applied to the Reference Price from (and including) the Issue Date to (but excluding) the date fixed for redemption or (as the case may be) the date upon which such Note becomes due and repayable; or (B) if the amount payable in respect of any Zero Coupon Note upon redemption of such Zero Coupon Note pursuant to paragraph (b), (c) or (d) above or upon its becoming due and repayable as provided in Condition 12 is not paid or available for payment when due, the amount due and repayable in respect of such Zero Coupon Note shall be the Amortized Face Amount of such Zero Coupon Note calculated as provided above as though the references in subparagraph (A) to the date fixed for redemption or the date upon which the Zero Coupon Note becomes due and repayable were replaced by references to the date (the “Reference Date”) which is the earlier of: (1) the date on which all amounts due in respect of the Note have been paid; and (2) the date on which the full amount of the moneys repayable has been received by the Agent and notice to that effect has been given in accordance with Condition 15. The calculation of the Amortised Face Amount in accordance with this sub-paragraph (B) will continue to be made, after as well as before judgment, until the Reference Date unless the Reference Date falls on or after the Maturity Date, in which case the amount due and repayable shall be the principal amount of such Note together with interest from (and including) the Maturity Date to (but excluding) the Reference Date at a rate per annum equal to the Accrual Yield. Where any such calculation is to be made for a period of less than a full year, it shall be made (x) in the case of Notes denominated in US dollars on the basis of a 360-day year consisting of 12 months of 30 days each and, in the case of an incomplete month, the number of days elapsed; (y) in the case of Notes denominated in all other currencies on the basis that “Actual/Actual ICMA” shall apply, as calculated in accordance with Condition 5(b)(vi); or (z) as otherwise specified in the applicable Pricing Supplement.

  • Final Redemption Unless previously redeemed, or purchased and cancelled, the Bonds will be redeemed at their principal amount on the Interest Payment Date falling on, or nearest to, June 26, 2017. The Bonds may not be redeemed at the option of the Issuer other than in accordance with this Condition.