Redemption and Repayment Clause Samples
The 'Redemption and Repayment' clause defines the terms under which a borrower must repay the principal amount of a loan or the issuer must redeem securities from investors. It typically outlines the schedule, method, and conditions for repayment or redemption, such as lump-sum payments at maturity, periodic installments, or early redemption options. This clause ensures both parties understand when and how the financial obligation will be settled, providing clarity and predictability regarding the return of funds and helping to manage expectations and financial planning.
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Redemption and Repayment. (a) Except as otherwise provided in the Pricing Supplement, a supplemental indenture and the Notes or in Section 6.02, the Trust will redeem the Notes only if Principal Life redeems the Funding Agreement securing such Notes in an amount equal to the amount of the related Notes to be redeemed in accordance with the terms of the Indenture and the Notes, and the Trust will not redeem the Notes if Principal Life does not redeem the Funding Agreement securing such Notes in an amount equal to the amount of the Notes to be redeemed in accordance with the Indenture and the Notes. Unless otherwise specified in the relevant Pricing Supplement and a supplemental indenture or the Notes, the Trust may not redeem the Notes after the date that is thirty (30) calendar days prior to the Stated Maturity Date.
(b) If, but only if, specified in the Pricing Supplement and a supplemental indenture or the Notes, such Notes will be repayable at the option of the Holders thereof in accordance with the repayment provisions included in the Pricing Supplement and supplemental indenture or the Notes.
(c) In connection with the redemption by the Trust of the Notes under Section 2.04(a), upon receipt by the Trust of notice of redemption of the Funding Agreement from Principal Life, the Trust will promptly give written notice of such redemption to the Indenture Trustee and the Indenture Trustee will give written notice to the Holders in accordance with Section 1.06 not less than thirty (30) calendar days and no more than sixty (60) calendar days prior to the date set for such redemption. All notices of redemption shall identify the Notes to be redeemed (including the CUSIP numbers) and shall state:
Redemption and Repayment. Except in those situations in which the Corporation may become obligated to pay additional amounts (as described herein), the Notes of this series are not subject to redemption at the option of the Corporation or repayment at the option of the holder prior to maturity.
Redemption and Repayment. (a) Prior to October 1, 2050, Company may, at its option, and subject to the terms and conditions of Article 3 of the Indenture and Section 2.6 of the Eighth Supplemental Indenture dated as of April 1, 2021 (the “Eighth Supplemental Indenture”), redeem the Notes of this Series, in whole at any time or in part from time to time prior to the Maturity Date, at a redemption price equal to the greater of (x) 100% of the principal amount of the Notes so redeemed or (y) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if such notes matured on October 1, 2051 but for such redemption (not including any such portion of such payments of interest accrued as of the redemption date), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate (as defined below), plus 20 basis points, plus an amount equal to accrued and unpaid interest thereon to, but excluding, the redemption date. On or after October 1, 2050, Company may, at its option, and subject to the terms and conditions of Article 3 of the Indenture and Section 2.6 of the Eighth Supplemental Indenture, redeem the Notes of this Series, in whole at any time or in part from time to time prior to the Maturity Date, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus an amount equal to accrued and unpaid interest thereon to, but excluding, the redemption date. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on Interest Payment Dates falling on or prior to a redemption date shall be payable on the Interest Payment Date to the holders of the Notes as of the close of business on the relevant record date according to the Notes and the Indenture.
Redemption and Repayment. The Notes of this series are not subject to redemption at the option of the Corporation or repayment at the option of the holder prior to maturity.
Redemption and Repayment. 22 Section 3.01. Notices to Trustee..................................... 22 Section 3.02. Selection of Notes to Be Redeemed...................... 22 Section 3.03.
Redemption and Repayment. Except in those situations in which the Company may become obligated to pay additional amounts (as described herein), the Notes of this Series are not subject to redemption at the option of the Company or repayment at the option of the holder prior to maturity.7 [The Notes of this Series may not be redeemed, repaid or repurchased prior to maturity without the requisite prior approvals, if any, from applicable regulators.] 7 This form provides for Notes that are not subject to redemption at the option of the Company or repayment at the option of the holder. The form, as used, may be modified to provide, alternatively, for redemption at the option of the Company or repayment at the option of the holder, with the terms and conditions of such redemption or repayment, as the case may be, including provisions regarding sinking funds, if applicable, redemption prices, and notice periods, set forth therein.
Redemption and Repayment. Unless otherwise indicated in the applicable prospectus supplement, your debt security will not be entitled to the benefit of any sinking fund; that is, we will not deposit money on a regular basis into any separate custodial account to repay your debt securities. In addition, other than as set forth in “— Optional Tax Redemption” below, we will not be entitled to redeem your debt security before its stated maturity unless the applicable prospectus supplement specifies a redemption commencement date. You will not be entitled to require us to buy your debt security from you, before its stated maturity, unless the applicable prospectus supplement specifies one or more repayment dates. If the applicable prospectus supplement specifies a redemption commencement date or a repayment date, it will also specify one or more redemption prices or repayment prices, which may be expressed as a percentage of the principal amount of your debt security or by reference to one or more formulas used to determine the applicable redemption price. It may also specify one or more redemption periods during which the redemption price or prices relating to the redemption of debt securities during those periods will apply. If the applicable prospectus supplement specifies a redemption commencement date, we may redeem your debt security at our option at any time on or after that date. If we redeem your debt security, we will do so at the specified redemption price, together with interest accrued to the redemption date. If different prices are specified for different redemption periods, the price we pay will be the price that applies to the redemption period during which your debt security is redeemed. If less than all of the debt securities are redeemed, the trustee will choose the debt securities to be redeemed by lot, or in the trustee’s discretion, pro-rata. If the applicable prospectus supplement specifies a repayment date, your debt security will be repayable by us at our option on the specified repayment date at the specified repayment price, together with interest accrued and any additional amounts to the repayment date. In the event that we exercise an option to redeem any debt security, we will give to the trustee and the holder written notice of the principal amount of the debt security to be redeemed, not less than 30 days nor more than 60 days before the applicable redemption date. We will give the notice in the manner described under the heading “—Notices.” If a debt sec...
Redemption and Repayment. The Trustee will comply with the terms of the Letter with regard to redemptions and repayments of the Notes. If an issue of Book-Entry Notes is to be redeemed or repaid in part, the Trustee will make appropriate entries in its records to reflect the remaining portion of such issue of Book-Entry Notes, which portion shall bear the same CUSIP number as prior to the redemption or repayment, as the case may be.
Redemption and Repayment. Section 3.01.
Redemption and Repayment. Amendment to Article 3. Pursuant to Sections 2.02(7) and 2.02(8) of the Base Indenture, Article 3 of the Base Indenture is hereby amended with respect to the Notes by adding to the end the following new Sections 3.09 through 3.11, in each case to read as follows: