Right of Redemption; Notices to Trustee Sample Clauses

The 'Right of Redemption; Notices to Trustee' clause defines the borrower's ability to reclaim their property by paying off the debt in full before a foreclosure sale is finalized. In practice, this clause outlines the procedures and timelines for exercising the right of redemption, and specifies the requirement for providing formal notice to the trustee overseeing the foreclosure process. Its core function is to protect the borrower's interests by ensuring they have a final opportunity to retain ownership, while also establishing clear communication protocols for all parties involved.
Right of Redemption; Notices to Trustee. (a) (i) Debt Securities of any series may be redeemed, at the option of the Company, as a whole, but not in part, at any time, upon giving notice to Holders not less than 30 days or more than 60 days prior to the date fixed for redemption (which notice shall be irrevocable and shall be given in the manner described in Section 10.01), at a Redemption Price equal to 100% of the principal amount thereof, together with interest accrued to the date fixed for redemption and any Additional Amounts, if any, payable with respect thereof, if the Company determines and certifies to the Trustee immediately prior to the giving of such notice that (A) it has or will become obligated to pay Additional Amounts in respect of the Debt Securities of such series in accordance with Section 4.03 as a result of any change in or amendment to the laws (or any regulations or rulings promulgated thereunder) of Argentina or any political subdivision or taxing authority thereof or therein affecting taxation or any change in the official position regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction) which change, amendment, application or interpretation becomes effective on or after the date of issuance of the Debt Securities of such series, and (B) such obligation cannot be avoided by the Company taking reasonable measures available to it.
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Right of Redemption; Notices to Trustee. 26 Section 3.02. Selection of Debt Securities to Be Redeemed...................................... 27 TABLE OF CONTENTS (continued)
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Right of Redemption; Notices to Trustee. (a) Except as otherwise provided herein and in the Securities, the Company shall not have any right to prepay or redeem the Securities. On and after January 1, 1998 or, if the Company shall have elected to be taxable as a corporation and as of the Redemption Date the Current Market Price of the aggregate number of Units into which the Securities to be redeemed shall be convertible as of the Redemption Date shall equal or exceed the Recovery Amount (defined below), on or after May 12, 1996, the Company shall have the right, at any time and from time to time at its sole option and election, to redeem the Securities, in whole or in part, in integral multiples of $10,000,000 by Outstanding principal amount at a price (the "Redemption Price") equal to (i) the Outstanding principal amount of the Securities to be redeemed plus (ii) an amount equal to all accrued and unpaid interest thereon, whether or not currently payable, to the applicable Redemption Date, in cash or other immediately available funds. For purposes hereof, "Recovery Amount" shall mean the amount by which (i) the amount that results from compounding the principal amount of the Securities to be redeemed at a rate of 25 percent per annum from the date of issuance of the Securities to the Redemption Date exceeds (ii) the amount that results from compounding all amounts of interest paid, including Additional Interest, and other distributions made with respect to the principal amount of the Securities to be redeemed on or prior to the Redemption Date at a rate of 25 percent per annum from, in the case of each such payment of interest or other distribution, the date such payment or other distribution is made to the Redemption Date. The election of the Company to redeem any Securities pursuant to this Section shall be evidenced by a Board Resolution. The Company shall, at least 30, but not more than 60, days prior to the Redemption Date which shall be a Business Day fixed by the Company (unless a shorter period shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and, in the case of any redemption at the election of the Company of less than all the Securities, of the principal amount of Securities to be redeemed.
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Related to Right of Redemption; Notices to Trustee

  • Right of Redemption 93 Section 10.02. Applicability of Article.....................................93 Section 10.03. Election to Redeem; Notice to Trustee........................93 Section 10.04. Selection by Trustee of Notes to Be Redeemed.................93 Section 10.05.

  • Right to Redeem; Notices to Trustee 20 SECTION 3.02 Selection of Securities to Be Redeemed...........................20 SECTION 3.03

  • Election To Redeem; Notices to Trustee If the Issuer elects to redeem Notes pursuant to paragraph 6 of the Notes, at least 45 days prior to the Redemption Date (unless a shorter notice shall be agreed to in writing by the Trustee) but not more than 65 days before the Redemption Date, the Issuer shall notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and the redemption price, and deliver to the Trustee an Officers’ Certificate stating that such redemption will comply with the conditions contained in paragraph 6 of the Notes. Notice given to the Trustee pursuant to this Section 3.01 may not be revoked after the time that notice is given to Holders pursuant to Section 3.03.

  • Waiver of Redemption Rights Subscriber hereby waives any and all rights to redeem the Shares for a portion of the amounts held in the trust account into which substantially all of the proceeds of the IPO will be deposited (the “Trust Account”) in the event of (i) the Company’s failure to timely complete an initial business combination, (ii) an extension of the time period to complete an initial business combination or (iii) upon the consummation of an initial business combination. For purposes of clarity, in the event Subscriber purchases shares of Common Stock included in the Units issued in the IPO (“Public Shares”), either in the IPO or in the aftermarket, any Public Shares so purchased shall be eligible to be redeemed for a portion of the amounts held in the Trust Account in the event of the Company’s failure to timely complete an initial business combination (but, for the avoidance of doubt, not in connection with an extension of the time period to complete an initial business combination or upon the consummation of an initial business combination).

  • Form of Redemption Notice Notice of redemption under Section 10.01 shall be given by the Indenture Trustee by first-class mail, postage prepaid, by facsimile mailed or transmitted, by e-mail transmission or by transmission to the Clearing Agency not later than 10 days prior to the applicable Redemption Date to each Holder of Notes, as of the close of business on the Record Date preceding the applicable Redemption Date, at such Holder’s address, facsimile number or e-mail address appearing in the Note Register. All notices of redemption shall state: (a) the Redemption Date; (b) the Redemption Price; (c) the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuing Entity to be maintained as provided in Section 3.02); and (d) applicable “CUSIP” numbers. Notice of redemption of the Notes shall be given by the Indenture Trustee in the name and at the expense of the Issuing Entity. Failure to give notice of redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note.