Junior Notes Sample Clauses
The Junior Notes clause defines the terms and conditions governing a class of debt securities that are subordinate to other forms of debt, such as senior notes, in a company's capital structure. In practice, this clause specifies that holders of junior notes will only receive payments after all senior obligations have been satisfied, and it may outline interest rates, maturity dates, and payment priorities. The core function of this clause is to allocate risk among creditors, ensuring that senior lenders are paid first in the event of default or liquidation, while offering higher potential returns to junior noteholders in exchange for their increased risk.
Junior Notes. Notwithstanding the foregoing, the following additional provisions shall apply to Junior Notes
(i) a single Meeting of the holders of all classes of Junior Notes may be held whether or not there is a conflict of interest between the holders of such classes of the Junior Notes;
(ii) there shall be no provision for a Meeting of the holders of one class only of the Junior Notes; and
(iii) as the Junior Notes are not all denominated in the same currency, the Principal Amount Outstanding of any Junior Note denominated in Dollars or Euro shall be converted into Sterling at the relevant Dollar Currency Swap Rate or Euro Currency Swap Rate, as the case may be.
Junior Notes. The conversion of the Junior Notes into shares of Common Stock, to be effective as of the Closing Date, will be on terms no more favorable to the holders of the Junior Notes than is provided to the Investors with respect to the transactions contemplated by Section 2.1(a)(i).
Junior Notes. The Loan Parties, jointly and severally, covenant and agree to repay to Agent, for the ratable benefit of Purchasers, the unpaid balance of the Junior Subordinated Notes in full, together with all accrued and unpaid interest, fees and other amounts due hereunder, on June 23, 2011.
Junior Notes. The aggregate principal amount of the Junior Notes of each Series shall amortize quarterly on each Interest Payment Date (the first of which being the first Interest Payment Date following the Delivery Date of the related Designated Aircraft) as provided in Schedule 3(a)(ii) hereto.
Junior Notes. The Company shall have provided evidence satisfactory to the Investor that (a) each of 2642186 Ontario Inc., ▇▇▇ ▇▇▇▇▇ and ▇▇▇▇▇ ▇. ▇▇▇▇▇▇ (the “Junior Creditors”) have executed and delivered to the Company that certain Note and Warrant Purchase Agreement dated as of July 13, 2023 and the related notes thereunder (the “July Junior Notes”) pursuant to which the Junior Creditors are providing loans to the Company in an aggregate principal amount of not less than $2,250,000 (the “July 2023 Junior Loans”); (b) the Junior Creditors have fully funded the July 2023 Junior Loans and the Company has received the $2,250,000 proceeds thereof; and (c) in connection with the July 2023 Junior Loans, ▇▇▇ ▇▇▇▇▇ has lent not less than $1,000,000 of the $2,250,000 of such July 2023 Junior Loans. In addition, the Company hereby shall send to the Investor an amount of not less than $568,444.46 so that when taken together with the amount to be advanced by the Investor hereunder on the Closing Date, the Investor will hold a sufficient about to repay in full the JGB Obligations (and the Company hereby authorizes and directs the Investor to send such amount to JGB).
Junior Notes. The aggregate principal amount of the Junior Notes shall amortize quarterly on each Interest Payment Date (the first of which being the first Interest Payment Date following the Delivery Date) as provided in Schedule 3(a)(ii) hereto.
Junior Notes. 7 Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Junior Notes. Notwithstanding the foregoing, the following additional provisions shall apply to Junior Notes