Furthermore, upon the occurence of certain events, the interest rate applicable to the Senior Notes may become 11.0% per annum and the redemption premium may begin to apply prior to the fifth anniversary of the Closing.

FORBES: McGraw-Hill Unloads Education Business for $2.5 Billion

The Purchaser may redeem the Seller Notes, in whole or in part, at any time, at par, plus accrued and unpaid interest to the redemption date, plus, after the fifth anniversary of the Closing, a premium declining over time to zero.

FORBES: McGraw-Hill Unloads Education Business for $2.5 Billion