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US ONCOLOGY, INC. v. FSB

Nos. 8374, 650461/11.

102 A.D.3d 401 (2013)

958 N.Y.S.2d 47

2013 NY Slip Op 3

US ONCOLOGY, INC., Appellant, v. WILMINGTON TRUST FSB, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided January 3, 2013.

This action concerns the disputed meaning of the contractual phrase "the remaining term of the Securities" as it applies to the formula for calculating the premium that plaintiff bond issuer owes the bondholders for redeeming the instruments before August 15, 2013. As applicable here, the formula provides that plaintiff will pay, in addition to the principal amount of the bonds, (1) the present value of the much smaller premium that plaintiff would have owed if it had called...

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