Common use of Prepayment Right Clause in Contracts

Prepayment Right. The outstanding principal amount of the Debentures may be prepaid in whole (but not in part) by the Company upon no less than thirty (30) Trading Days' written notice (the "PREPAYMENT NOTICE PERIOD") to the Holders at a redemption price of 115% of the outstanding principal amount, plus accrued interest plus any other amounts owed by the Company or the Subsidiary Guarantors under the Transaction Documents and the Subsidiary Guarantee, provided that (i) Effective Registration exists from the time of such notice through the date of such prepayment, (ii) no Event of Default has occurred and is continuing and (iii) each Holder shall have the right during the Prepayment Notice Period to convert all or part of its outstanding Debentures in accordance with the procedures and requirements described in Section 3 hereof but at a price equal to the Market Price for each day of any such conversions. If the Holders elect to convert only a portion of the Debentures, the Company shall have the right to prepay the remaining portion if all of the other conditions in this Section 1(g) are satisfied.