Interest and Principal
The Notes of each series will accrue interest from at the annual rate stated on the cover of this prospectus supplement as applicable to such series.
We will pay interest on the 20 Notes in arrears on and of each year, with the first payment on , to the persons in whose names such 20 Notes are registered at the close of business on and , as the case may be (in each case, whether or not a business day), immediately preceding the related interest payment date. We will pay interest on the 20 Notes in arrears on and of each year, with the first payment on , to the persons in whose names such 20 Notes are registered at the close of business on and , as the case may be (in each case, whether or not a business day), immediately preceding the related interest payment date.
In each case, interest payable on the maturity date of the Notes or any redemption date of the Notes shall be payable to the person to whom the principal of such Notes shall be payable. Interest on the Notes will be computed on the basis of a 360-day year of twelve 30-day months. We will make payments of principal, premium, if any, interest and additional amounts, if any, through the trustee to The Depository Trust Company (“DTC”).
Payments of principal of and interest on the Notes issued in book-entry form and in definitive form, if any, will be made as described below under “—Book-Entry, Delivery and Form.”
Interest payable on any interest payment date, redemption date or maturity date shall be the amount of interest accrued from, and including, the next preceding interest payment date in respect of which interest has been paid or duly provided for (or from and including the original issue date, if no interest has been paid or duly provided for with respect to the applicable series of Notes) to, but excluding, such interest payment date, redemption date or maturity date, as the case may be. If any interest payment date falls on a day that is not a business day, the interest payment will be made on the next succeeding day that is a business day, but no additional interest will accrue as a result of the delay in payment. If the maturity date or any redemption date of the Notes falls on a day that is not a business day, the related payment of principal, premium, if any, interest and additional amounts, if any, will be made on the next succeeding business day as if it were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from and after such date to the next succeeding business day.
The indenture will not contain any provisions that would limit the Company’s ability to incur additional unsecured indebtedness or require the maintenance of financial ratios or specified levels of net worth or liquidity.
Optional Redemption
Prior to ( month[s] prior to their maturity date) (the “ Par Call Date”), in the case of the Notes, and prior to ( month[s] prior to their maturity date) (the “ Par Call Date” and each of the Par Call Date and the Par Call Date, a “Par Call Date”), in the case of the Notes, we may redeem the Notes of the applicable series at our option, in whole or in part, at any time and from time to time, at a redemption price calculated by us (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:
(1) (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 applicable Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus basis points (in the case of the Notes) or basis points (in the case of the Notes) less (b) interest accrued to the date of redemption, and
(2) 100% of the principal amount of the Notes to be redeemed,
plus, in either case, accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.
On or after the applicable Par Call Date, we may redeem the Notes of each applicable series at our 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, if any, thereon to, but excluding, the applicable redemption date.