Optional Redemption of Notes Clause Samples
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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hereof on any date if the principal amount of the Notes has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with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).
Optional Redemption of Notes. The Notes will be redeemable in whole at any time or in part from time to time, at the Company’s option, at a redemption price (the “Redemption Price”) calculated by the Company and equal the sum of (1) 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest, up to, but not including, the Redemption Date plus (2) a Make-Whole Premium; provided that if the Redemption Date falls after a Record Date and on or prior to the corresponding Interest Payment Date, the Company 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) and the Redemption Price shall not include accrued and unpaid interest up to, but not including, the Redemption Date. Notwithstanding the foregoing, if the Notes are redeemed on or after June 15, 2026, the Redemption Price will not include a Make-Whole Premium.
Optional Redemption of Notes. The Issuer may redeem on any one or more occasions some or all of the Notes before they mature. The redemption price (the “Redemption Price”) will equal the sum of (1) an amount equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest up to, but not including, the Redemption Date and (2) the Make-Whole Premium; provided that, the Issuer will not redeem the Notes 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). Notwithstanding the foregoing, if the Notes are redeemed on or after ninety (90) days prior to the Maturity Date, the Redemption Price will not include the Make-Whole Premium; provided further 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) and the Redemption Price shall not include accrued and unpaid interest up to, but not including, the Redemption Date.
Optional Redemption of Notes. (a) The Issuer may, with respect to any Series of Notes, reserve the right to redeem and pay the Series of Notes or may covenant to redeem and pay the Series of Notes or any part thereof prior to the applicable maturity date thereof at such time and on such terms as provided for in such Notes. If a Series of Notes is redeemable and the Issuer wants or is obligated to redeem prior to the applicable maturity date thereof all or part of the Series of Notes pursuant to the terms of such Notes, it shall notify the Trustee in writing of the Redemption Date and the principal amount of the Series of Notes to be redeemed. The Issuer shall give the notice at least 15 days before the Redemption Date (or such shorter period as may be acceptable to the Trustee).
(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).
Optional Redemption of Notes. Prior to the Par Call Date, the Company may redeem the Notes at its option, in whole or in part, at any time and from time to time, at a redemption price (the “Redemption Price”) (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:
(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to the Redemption Date, and
(2) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to, but excluding, the Redemption Date. In addition, on or after the Par Call Date, the Company may redeem the Notes, at its option, in whole or in part, at any time and from time to time, at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest on the Notes to be redeemed to, but excluding, the Redemption Date. The Company shall not redeem the Notes pursuant to this Section 4.1 if on any date the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded or cured on or prior to such date. The Company’s actions and determinations in determining the Redemption Price shall be conclusive and binding for all purposes, absent manifest error.
Optional Redemption of Notes. On any Payment Date on and after the Payment Date in July 2020, the Class A Certificateholder, with the consent of the Administrator, on behalf of the Issuer, shall have the option to redeem the Notes, in whole but not in part, as set forth in Section 8.2 of the Transfer and Servicing Agreement.
Optional Redemption of Notes. Section 6.1 Optional Tax Redemption 26 Section 6.2 Optional Redemption 27 Section 6.3 Election to Redeem 27 Section 6.4 Notice of Redemption 27 Section 6.5 Selection of Notes to be Redeemed in Part Pursuant to an Optional Redemption 28 Section 6.6 Deposit of Redemption Price 29 Section 6.7 Notes Payable on Redemption Date 29 Section 6.8 Unredeemed Portions of Partially Redeemed Note 29
Optional Redemption of Notes. If permitted under the terms of the Indenture for any Indenture Series, on and after the date set forth in such Indenture for the related Indenture Series, the Class A Certificateholder, with the consent of the Administrator, on behalf of the Trust, shall have the option to redeem the Notes of such Indenture Series, in whole but not in part, pursuant to and in accordance with the terms set forth in the applicable Indenture.
Optional Redemption of Notes. The Company shall have the right, at its option, at any time and from time to time, to prepay all or any portion of the principal amount of Notes outstanding and shall, at the request of the Lessee or upon the occurrence of an event of termination as described in Section 20(a)(i) of the Lease Agreement, redeem or shall cause the Registrar to redeem the entire principal amount of the Notes outstanding (the amount so prepaid or redeemed being hereinafter referred to as the "Called Principal") at a price equal to the sum of (i) the Called Principal, (ii) interest accrued on the Called Principal through the Redemption Date (as defined below) and (iii) the Yield-Maintenance Premium, if any.
Optional Redemption of Notes. The Notes are subject to redemption in whole and not in part at the option of the Issuer on any Payment Date at the Redemption Price therefor if before or after giving effect to the payment of principal otherwise required to be made on such Payment Date the Current Principal Amount of each Class of Notes outstanding (prior to allocations of any Realized Loss Amounts) equals 10% or less of the initial principal amount of such Class of Notes. Payment on the Notes pursuant to any optional redemption may be made only with Eligible Moneys. If the Issuer elects to so redeem all Notes then Outstanding, it shall, no later than 30 days prior to the Payment Date selected for such redemption, deliver notice of such election to the Trustee, together with an Issuer Order directing the Trustee to effect such redemption and the Aggregate Redemption Price due on such Payment Date for deposit into the Collection Account. All such Notes shall be due and payable on such Payment Date upon the giving of the notice thereof required by Section 10.02.