New Bonds Clause Samples
The "New Bonds" clause defines the terms and conditions under which new debt securities, or bonds, may be issued by a party, typically in the context of a financial agreement or restructuring. This clause outlines the characteristics of the new bonds, such as their interest rate, maturity date, and any special rights or restrictions, and may specify how they will be distributed to existing creditors or investors. Its core practical function is to provide a clear framework for the issuance of new bonds, ensuring all parties understand their rights and obligations, and facilitating the orderly management of debt obligations.
New Bonds. (a) In the period between the date hereof and the Closing, to the extent permitted by applicable Laws and Orders, the Company shall repay in full the April 2025 Bonds and the June 2025 Bonds in accordance with their respective terms and conditions including, without limitation, any Exchange New Bonds (the “New Bonds Repayment”). The Company shall promptly provide the SPAC with material updates on the implementation of the New Bonds Repayment, including evidence of repayment of the April 2025 Bonds and the June 2025 Bonds.
(b) In the period between the date hereof and the Closing, the Company shall transfer the 2027 Bonds to VEON MidCo as part of the Demerger and pursuant to the 2027 Bonds Consent Solicitation (the “2027 Bonds Transfer”), which shall be implemented upon the execution of a supplemental trust and agency deed relating to the 2027 Bonds pursuant to which VEON MidCo shall be substituted in place of the Company as issuer and principal debtor in respect of the 2027 Bonds.
New Bonds. Upon surrender of Bonds redeemed in part only, the City shall execute and the Fiscal Agent shall authenticate and deliver to the registered Owner, at the expense of the City, a new Bond or Bonds, of the same series and maturity, of authorized denominations in aggregate principal amount equal to the unredeemed portion of the Bond or Bonds of such registered Owner.
New Bonds. 43 5.14 Issuance of New Class A Common Stock.........................................................................43 5.15
New Bonds. On or prior to the Initial Borrowing Date, (i) the New Bonds shall have been issued by the Borrower and delivered to the Bondholders and (ii) there shall have been delivered to the Administrative Agent true and correct copies of the New Bond Documents, which New Bond Documents shall be in form and substance satisfactory to the Administrative Agent and the Required Banks (including, without limitation, as to amortization, maturities, interest rates, covenants, subordination provisions, defaults and remedies with respect thereto).
New Bonds. The New Bonds shall be dated as provided in Section 3 of Article Two of the First Mortgage as amended; shall mature on August 24, 2022; and shall bear interest from August 24, 2016 as provided in said Section 3 of Article Two at such rate or rates per annum as shall cause the amount of interest payable on each Interest Payment Date (as hereinafter defined) on the New Bonds to equal the amount of interest payable on such Interest Payment Date on the corresponding loans under the Credit Agreement (hereinafter called the “Loans”), such interest to be payable on the same date as interest is payable on said Loans (each such date relating to the New Bonds herein called an “Interest Payment Date”), until the maturity of the New Bonds, or, in the case of any such New Bonds duly called for redemption, until the redemption date, or in the case of any default by the Company in the payment of the principal due on any such New Bonds, until the Company’s obligation with respect to the payment of the principal shall be discharged as provided in the First Mortgage as amended. The amount of interest payable on each Interest Payment Date shall be computed on the same basis as the amount of interest is computed on the corresponding Loan. The Trustee shall be entitled to request, receive and conclusively rely upon the certification of the Company, in an officer’s certificate of the interest rate of, Interest Payment Date of and basis on which interest is computed for, the Loans, from time to time as necessary to enable the Trustee to determine for the New Bonds their corresponding interest rate, Interest Payment Date and basis on which interest shall be computed. The interest payable on the New Bonds on any Interest Payment Date shall be paid to the holders in whose names such New Bonds are registered, except that if the Company shall default in the payment of any installment of interest on any New Bonds, such interest in default shall be paid to the holders in whose names the New Bonds are registered at the close of business on a date established for the payment of such defaulted interest by the Company in any lawful manner. The New Bonds shall be payable as to both principal and interest in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts, at the office or agency of the Company in the Borough of Manhattan, The City of New York.
New Bonds. Upon surrender of Series 2013 Bonds redeemed in part only, the District shall execute and the Fiscal Agent shall authenticate and deliver to the registered Owner, at the expense of the District, a new Series 2013 Bond or Series 2013 Bonds, of the same series and maturity, of authorized denominations in aggregate principal amount equal to the unredeemed portion of the Series 2013 Bond or Series 2013 Bonds.