Additional Secured Notes Clause Samples

Additional Secured Notes. Notwithstanding Sections 7.2 (Creation of Liens) and Section 7.8 (Indebtedness) of the Loan Agreement, Radnor shall be permitted to issue up to an additional $30,000,000 of Secured Notes pursuant to the Secured Indenture and any supplement thereto.
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Additional Secured Notes. The Company intends and is explicitly authorized to issue additional notes convertible into the Common Shares of the Company which the Company intends will be granted a security interest in the IP Collateral pursuant to the Collateral Assignment to secure said notes issued under other note purchase agreements (“Other Note Purchase Agreements”). Any notes issued pursuant to Other Note Purchase Agreements can only be issued upon the payment to the Company of immediately available funds in U. S. Dollars. Any notes issued under Other Note Purchase Agreements will be secured without partiality with the Notes issued by the Company pursuant to this Fifth Amendment Agreement. The aggregate amounts of notes issued under Other Note Purchase Agreements and Notes issued under this Agreement shall not at any time exceed Six Million Dollars [$6,000,000] (excluding accrued or unpaid interest due thereon) however such $6,000,000 shall be decreased by the principal amount of any Class 3 Notes converted into the Company’s common stock subsequent to August 8, 2007 and shall also be decreased by the principal amount of any note issued under Other Note Purchase Agreements converted into the Company’s common stock. No notes issued under Other Note Purchase Agreements (including amendments to such notes) shall have a maturity date or require partial principal repayments prior to the latest maturity date of any Class 3 Note outstanding at the date of issuance of said notes under Other Note Purchase Agreements. If any notes are issued under Other Note Purchase Agreements pursuant to this section, then such noteholders shall be required to accept the Agent appointed by the Noteholders under the Agreement and be required to accept the terms relating governing said Agent’s obligations, duties, conflicts, etc. in substantially the same form as in Section 21 of this Agreement.
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Additional Secured Notes. Without the prior consent of the Mortgagee, the Mortgagor may issue Additional Notes to the United States of America, acting by and through the administrator of the Rural Utilities Service (including its successors and assigns) which Notes will thereupon be secured equally and ratably with the Notes if the following requirements are satisfied: (A) As evidenced by a certificate of an independent certified public accountant delivered to the Mortgagee, the Mortgagor shall have achieved (1) for each of the two calendar years preceding, or any two consecutive 12 month periods ending within 180 days preceding the issuance of such Notes, a DSC of not less than 1.35 and (2) Equity of not less than twenty percent (20%) of Total Assets after taking into consideration such new indebtedness and the assets created by such indebtedness; and (B) No Event of Default or any event which with the giving of notice or lapse of time or both would become an Event of Default has occurred and is continuing hereunder. The Mortgagor shall also have the right without the consent of the Mortgagee, so long as an Event of Default or any event which with the giving of notice or lapse of time or both would become an Event of Default, has not occurred and is continuing hereunder, to issue Additional Notes for the purpose of refunding or refinancing any Notes so long as the total amount of outstanding indebtedness evidenced by any such Additional Note is not greater than 105 percent of the Note being refunded or refinanced. Notwithstanding the foregoing, CFC may offer additional credit facilities to be secured hereunder, and the Mortgagor may issue Additional Notes to CFC in connection therewith, which Notes will thereupon be secured equally and ratably with the Notes, without the Mortgagor meeting the above requirements.
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Additional Secured Notes 
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Related to Additional Secured Notes

  • Additional Securities If such Pledgor shall receive by virtue of its being, becoming or having been the owner of any Pledged Collateral, any (i) certificate, including without limitation, any certificate representing a dividend or distribution in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or membership or equity interests, stock splits, spin-off or split-off, promissory notes or other instrument; (ii) option or right, whether as an addition to, substitution for, or an exchange for, any Pledged Collateral or otherwise; (iii) dividends payable in securities; or (iv) distributions of securities or other equity interests in connection with a partial or total liquidation, dissolution or reduction of capital, capital surplus or paid-in surplus, such Pledgor shall receive such certificate, instrument, option, right or distribution in trust for the benefit of the Administrative Agent, shall segregate it from such Pledgor’s other property and shall deliver it forthwith to the Administrative Agent in the exact form received together with any necessary endorsement and/or appropriate stock power duly executed in blank, substantially in the form provided in Exhibit 4(a), to be held by the Administrative Agent as Pledged Collateral and as further collateral security for the Secured Obligations.

  • Additional Security This guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party.

  • Additional Secured Parties The benefit of the provisions of the Loan Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Party that is not a Lender or L/C Issuer party hereto, provided that, by accepting such benefits, such Secured Party agrees, as among the Administrative Agent and all other Secured Parties, that such Secured Party is bound by (and, if requested by the Administrative Agent shall confirm such agreement in a writing in form and substance acceptable to the Administrative Agent) this Article VIII, Section 9.3, Section 9.9, Section 9.10, Section 9.11, Section 9.17, Section 9.24 and Section 10.1 (and, solely with respect to L/C Issuers, subsection 1.1(c)) and the decisions and actions of the Administrative Agent and the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders or other parties hereto as required herein) to the same extent a Lender is bound; provided, however, that, notwithstanding the foregoing, (a) such Secured Party shall be bound by Section 8.8 only to the extent of Liabilities, costs and expenses with respect to or otherwise relating to the Collateral held for the benefit of such Secured Party, in which case the obligations of such Secured Party thereunder shall not be limited by any concept of pro rata share or similar concept, (b) the Administrative Agent, the Lenders and the L/C Issuers party hereto shall be entitled to act at its sole discretion, without regard to the interest of such Secured Party, regardless of whether any Obligation to such Secured Party thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Secured Party or any such Obligation and (c) except as otherwise set forth herein, such Secured Party shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of the Collateral or under any Loan Document.

  • Initial Notes On the Issue Date, there will be originally issued four hundred million dollars ($400,000,000) aggregate principal amount of Notes, subject to the provisions of this Indenture (including Section 2.02). Notes issued pursuant to this Section 2.03(A), and any Notes issued in exchange therefor or in substitution thereof, are referred to in this Indenture as the “Initial Notes.”

  • Subordinated Notes The Subordinated Notes have been duly authorized by the Company and when executed by the Company and issued, delivered to and paid for by the Purchasers in accordance with the terms of the Agreement, will have been duly executed, authenticated, issued and delivered, and will constitute legal, valid and binding obligations of the Company and enforceable in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.