Initial Call Date definition
Examples of Initial Call Date in a sentence
The Call Right will be exercisable by the Buyer by delivering a Call Exercise Notice at any time during the period (the “ Exercise Period ”) commencing on the earliest date on which a Call Right may be exercised pursuant to Section 1.1 (the “ Initial Call Date ”) and ending at 6:30 p.m. (New York time) on the fifth anniversary of the Initial Call Date (such date or the earlier expiration of the Call Right is referred to herein as the “ Expiration Date ”).
Notwithstanding the foregoing, any Make-Whole Premium due upon a Bankruptcy Automatic Acceleration prior to the Initial Call Date shall be calculated for purposes of this Section 3.07(a), as of the date of such Bankruptcy Automatic Acceleration.
The Call Right will be exercisable by the Buyer by delivering a Call Exercise Notice at any time during the period (the “Exercise Period”) commencing on the earliest date on which a Call Right may be exercised pursuant to Section 1.1 (the “Initial Call Date”) and ending at 6:30 p.m. (New York time) on the fifth anniversary of the Initial Call Date (such date or the earlier expiration of the Call Right is referred to herein as the “Expiration Date”).
The failure to pay cash interest on the Tier II Notes on any interest payment date for which Ambac has not received proceeds in respect of the RMBS Litigations in excess of $1.6 billion, or prior to the Initial Call Date, will not constitute an event of default under the Indenture governing the Tier II Notes.
Except as described herein, the Tier 2 Notes may not be redeemed or repaid prior to the Initial Call Date.