Redemptions of Notes Sample Clauses

The 'Redemptions of Notes' clause defines the terms and conditions under which the issuer or noteholder can redeem, or buy back, the notes before their scheduled maturity. This clause typically outlines the procedures for redemption, such as notice requirements, redemption dates, and the price at which the notes will be redeemed, which may include any applicable premiums or accrued interest. Its core practical function is to provide a clear framework for early repayment of the notes, offering flexibility to both parties and addressing scenarios where early termination of the debt is desirable or necessary.
Redemptions of Notes. (a) REQUIRED REDEMPTIONS. Starting July 25, 2005 through June 25, 2007, the Company will pay to the Purchasers in eight (8) installments and on a quarterly basis $300,000 of the principal amount of the Notes. These eight (8) quarterly principal payments are due as of the first day of each respective quarter, beginning on June 25, 2005. On the earlier of: (i) June 25, 2007, (ii) the accelerated maturity of the Notes in accordance with the provisions of the Notes, or (iii) the occurrence of a Redemption Event, the Company will pay the principal amount of the Notes then outstanding together with all accrued and unpaid interest then due thereon. A Redemption Event shall mean (1) any Change of Control of the Company, (2) the issuance of any other debt by the Company that is prohibited by section 5.8 of this Agreement, or (3) the refinancing of the Silicon Valley Bank line of credit (for purposes of this subsection (4), "refinancing" shall not include periodic renewals or extensions of the line of credit by Silicon Valley Bank). A "Change of Control of the Company" shall be deemed to have occurred if (a) any "person" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") becomes the "beneficial owner" (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of (A) the outstanding shares of common stock of the Company or (B) the combined voting power of the Company's then outstanding securities; (b) the Company is party to a merger or consolidation that results in the voting securities of the Company outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving or another entity) at least fifty (50%) percent of the combined voting power of the voting securities of the Company or such surviving or other entity outstanding immediately after such merger or consolidation; or (c) the sale or disposition of all or substantially all of the Company's assets (or consummation of any transaction having similar effect).
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Redemptions of Notes 
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Related to Redemptions of Notes

  • Redemption of Notes Section 10.01. Redemption...................................................................53 Section 10.02. Form of Redemption Notice....................................................54 Section 10.03. Notes Payable on Redemption Date.............................................54

  • Redemption of the Notes SECTION 3.01.

  • Optional Redemption of Notes (a) The Issuer shall have the right to redeem the Notes at its option and in its sole discretion at any time or from time to time prior to the Maturity Date, in whole or in part. Prior to the Par Call Date, the redemption price (“Redemption Price”) will equal the greater of (i) 100% of the principal amount of the Notes to be redeemed or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) that would be due if the Notes matured on the Par Call Date, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 25 basis points, plus, in each case, accrued and unpaid interest thereon to the Redemption Date; provided, however, that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Notes for redemption). If the Notes are redeemed on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the Notes being redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date. (b) The Issuer shall not redeem the Notes pursuant to Section 3.01(a) hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Notes to be redeemed).

  • Redemption of Debentures 15 Section 3.1. Redemption........................................................................16 Section 3.2. Special Event Redemption..........................................................16 Section 3.3. Optional Redemption by the Company................................................16 Section 3.4.

  • Payment of Notes Called for Redemption (a) If any Redemption Notice has been given in respect of the Notes in accordance with Section 16.02, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated in the Redemption Notice, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price. (b) Prior to the open of business on the Redemption Date, the Company shall deposit with the Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 7.05 an amount of cash (in immediately available funds if deposited on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made on the Redemption Date for such Notes. The Paying Agent shall, promptly after such payment and upon written demand by the Company, return to the Company any funds in excess of the Redemption Price.