Redemption of Subordinated Notes Clause Samples

Redemption of Subordinated Notes. The Company shall have (i) received a final order confirming the settlement of the ▇▇▇▇▇▇ class action (Case No. 2014-CP-26-0204) regarding certain outstanding subordinated notes of the Company, which order may be subject to appeal, and (ii) for those holders of subordinated notes that opted out of the class, reached one or more agreements with such holders to allow the Company to redeem all the subordinated notes and forgive all accrued but unpaid interest in exchange for a payment to all holders of subordinated notes which shall not to exceed $3.3 million, excluding $250,000 reimbursed by third parties and $250,000 of forgiveness of indebtedness to a holder of a subordinate note.

Redemption of Subordinated Notes. As of the Effective Date, all obligations under the Subordinated Notes and the Subordinated Notes Indenture have been irrevocably terminated in accordance with Section 8.01 of the Subordinated Notes Indenture (other than (a) the obligations expressly stated in such section to survive and (b) to the extent such obligations may be reinstated pursuant to SECTION 8.05 thereof) and no further action by the Borrower is necessary to terminate, redeem, defease and satisfy in full the Subordinated Notes.

Redemption of Subordinated Notes. The Company may, at its option, prior to maturity, redeem the Subordinated Notes, in whole or in part without premium or penalty, at a price equal to the principal amount thereof plus accrued interest thereon to the date fixed for redemption. Any redemption payments made pursuant to this Section 9.1 shall be applied first to the payment of accrued but unpaid interest on the principal amount of the Subordinated Notes to be redeemed and thereafter to the principal amount to be redeemed. Any redemption payments of Subordinated Notes shall be made to the holders thereof in proportion to the respective principal amounts of Subordinated Notes outstanding held by them.

Redemption of Subordinated Notes. (a) In the event the Issuers fail to redeem the Subordinated Notes on or prior to May 24, 2004 (a “Redemption Failure”) each Holder of Notes shall have the right to require the Issuers to repurchase all or any part of such Holder’s Notes. In the event of a Redemption Failure the Issuers shall promptly notify the Trustee and the Holders in writing of such occurrence and shall make an offer (a “Redemption Failure Offer”) to repurchase all or any part (equal to $1,000 or an integral multiple thereof) of each Holder’s Notes at an offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Liquidated Damages, if any, thereon to the date of repurchase (the “Redemption Failure Offer Price,” and such date of payment being the “Redemption Failure Payment Date”) which date is required to be no earlier than 30 days nor later than 60 days from the date such notice is mailed (unless a longer period is required by law). Within 30 days following any Redemption Failure, the Issuers shall mail a notice to each Holder stating (1) that a Redemption Failure Offer is being made pursuant to this Section 4.25 and that all Notes tendered shall be accepted for payment; (2) the purchase price and purchase date, which shall, unless required by applicable law, be no earlier than 30 days nor later than 60 Business Days from the date such notice is mailed; (3) that any Note not tendered shall continue to accrue interest; (4) that, unless the Issuers default in the payment of the Redemption Failure Offer Price, all Notes accepted for payment pursuant to the Redemption Failure Offer shall cease to accrue interest after the Redemption Failure Payment Date; (5) that Holders electing to have any Notes purchased pursuant to the Redemption Failure Offer shall be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Redemption Failure Payment Date; (6) that Holders shall be entitled to withdraw their election if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Redemption Failure Payment Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to ha...

Redemption of Subordinated Notes. 25 9.2. Notice of Redemption of Subordinated Notes........................25 9.3. Redemption Upon Change of Control, etc............................25 9.4. Notice of Redemption Upon Change of Control, etc..................27 9.5.

Redemption of Subordinated Notes. The Subordinated Notes shall be redeemable at the Company’s option prior to the stated maturity pursuant to this Section 2.4 and in accordance with Article III of the Original Indenture. A notice of redemption of the Subordinated Notes may not be conditional. (a) The Subordinated Notes shall be redeemable, in whole or in part, at the option of the Company on any Interest Payment Date on or after January 30, 2023, at the Redemption Price, and in accordance with the provisions set forth in the Indenture and Subordinated Notes. (b) The Subordinated Notes may not be otherwise redeemed prior to January 30, 2023, except that the Company may, at its option, redeem the Subordinated Notes at any time in whole but not in part, at the Redemption Price upon the occurrence of: (i) a “Tax Event,” which means the receipt by the Company of an opinion of independent tax counsel to the effect that as a result of (1) an amendment to or change (including any announced prospective amendment or change) in any law or treaty, or any regulation thereunder, of the United States or any of its political subdivisions or taxing authorities; (2) a judicial decision, administrative action, official administrative pronouncement, ruling, regulatory procedure, regulation, notice or announcement, including any notice or announcement of intent to adopt or promulgate any ruling, regulatory procedure or regulation (any of the foregoing, an “administrative or judicial action”); (3) an amendment to or change in any official position with respect to, or any interpretation of, an administrative or judicial action or a law or regulation of the United States that differs from the previously generally accepted position or interpretation; or (4) a threatened challenge asserted in writing in connection with an audit of the Company’s federal income tax returns or positions or a similar audit of any of the Company’s Subsidiaries, or a publicly known threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the Subordinated Notes, in each case, occurring or becoming publicly known on or after the original issue date of the Subordinated Notes, there is more than an insubstantial risk that interest payable by the Company on the Subordinated Notes is not, or, within 90 days of the date of such opinion, will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes;

Redemption of Subordinated Notes