18.03.2014 Views

JPMorgan - KASE

JPMorgan - KASE

JPMorgan - KASE

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

mention shall be deemed to include the payment of Additional Amounts provided for in the<br />

Indenture to the extent that, in such context, Additional Amounts are, were or would be payable<br />

in respect thereof pursuant to the Indenture.<br />

Optional Tax Redemption<br />

If as a result of any change in or amendment to the laws, treaties, regulations or rulings of the<br />

Netherlands, Canada, Kazakhstan or other jurisdictions with which the Issuer or any Guarantor<br />

has any connection (other than the United States) or of any political subdivision or taxing<br />

authority thereof or therein or any change in the administrative or official position of the<br />

applicable taxing authority regarding the application or interpretation of such laws, treaties,<br />

regulations or rulings (including a holding, judgment or order by a court of competent<br />

jurisdiction), which change or amendment, as the case may be, is proposed and becomes effective<br />

on or after the date of the Indenture, in making any payment due or to become due under the<br />

Notes, the Guarantees or the Indenture, the Issuer or any of the Guarantors (if any of the<br />

Guarantees are called) is or would be required on the next succeeding interest payment date to<br />

pay Additional Amounts notwithstanding reasonable efforts to avoid such requirement, or to<br />

deduct or withhold any tax of the Netherlands, Canada, Kazakhstan or other jurisdiction with<br />

which the Issuer or any Guarantor has any connection (other than the United States) or any<br />

political subdivision or taxing authority thereof or therein, the Notes may be redeemed at the<br />

option of the Issuer, in whole but not in part, upon not less than 30 nor more than 60 days’<br />

notice given as provided in the Indenture, at any time, at a redemption price equal to the<br />

principal amount thereof, plus accrued and unpaid interest, if any, to the date fixed for<br />

redemption, provided that no such notice of redemption shall be given earlier than 90 days prior<br />

to the earliest date on which the Issuer would be obligated to make such withholding if a<br />

payment in respect of the Notes were then due.<br />

Prior to the publication of any notice of redemption in accordance with the foregoing, the Issuer<br />

shall deliver to the Trustee an Officers’ Certificate stating that the Issuer is entitled to effect such<br />

redemption based on an opinion of counsel or an opinion of a qualified expert, such counsel or<br />

qualified expert being independent of the Issuer and the Guarantors and reasonably acceptable<br />

to the Trustee, that the Issuer or any Guarantors (if any of the Guarantees are called) has or will<br />

become obligated to pay Additional Amounts as a result of such change or amendment. Such<br />

notice, once delivered by the Issuer to the Trustee, will be irrevocable.<br />

Mandatory Redemption<br />

Except as set forth below under “Description of the Notes — Repurchase at the Option of<br />

Holders”, the Company is not required to make any mandatory redemption or purchase<br />

payments with respect to the Notes prior to the maturity date.<br />

Repurchase at the Option of Holders<br />

Change of Control<br />

The Indenture will provide that upon the occurrence of a Change of Control, each Holder of<br />

Notes will have the right to require the Issuer to repurchase all or any part (equal to $10,000 or<br />

an integral multiple of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer<br />

described below (the “Change of Control Offer”) at an offer price in cash equal to 101% of the<br />

aggregate principal amount thereof plus accrued and unpaid interest, if any, thereon to the date<br />

of purchase (the “Change of Control Payment”). Within 30 days following any Change of<br />

Control, the Issuer will mail a notice to each Holder describing the transaction or transactions<br />

that constitute the Change of Control and offering to repurchase Notes pursuant to the<br />

procedures required by the Indenture and described in such notice. The Issuer will comply, to the<br />

extent applicable, with the requirements of Rule 14e-1 under the Exchange Act and any other<br />

securities laws and regulations thereunder in connection with the repurchase of the Notes as a<br />

result of a Change of Control.<br />

100

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!