Common use of Right to Require Redemption Clause in Contracts

Right to Require Redemption. If there shall occur a Fundamental Change, then each Holder shall have the right, at such Holder's option, to require the Company to redeem all of such Holder's Notes, or any portion thereof that is an integral multiple of $1,000 principal amount, on the date (the "Repurchase Date", with such Repurchase Date for the purposes of Section 508 of the Indenture being a "Redemption Date") that is 30 days after the date of the Company Notice (as defined in Section 602 below) of such Fundamental Change (or, if such 30th day is not a Business Day, the next succeeding Business Day). Such repayment shall be made at the following prices (expressed as a percentage of principal amount) in the event of a Fundamental Change occurring during the 12-month period beginning August 1:

Appears in 1 contract

Sources: Reimbursement Agreement (Maxtor Corp)

Right to Require Redemption. If there shall occur a Fundamental Change, then each Holder shall have the right, at such Holder's option, to require the Company to redeem all of such Holder's Notes, or any portion thereof that is an integral multiple of $1,000 principal amount, on the date (the "Repurchase Date", with such Repurchase Date for the purposes of Section 508 of the Indenture being a "Redemption Date") that is 30 days after the date of the Company Notice (as defined in Section 602 below) of such Fundamental Change (or, if such 30th day is not a Business Day, the next succeeding Business Day). Such repayment shall be made at the following prices (expressed as a percentage of principal amount) in the event of a Fundamental Change occurring during the 12-month period beginning August 1:: Year Percentage Year Percentage ---- ---------- ---- ----------

Appears in 1 contract

Sources: Supplemental Trust Indenture (Quantum Corp /De/)