New Indenture. The New Indenture has been duly authorized and, when duly executed and delivered by the Company and duly authorized, executed and delivered by the New Trustee, will constitute a valid and legally binding agreement of the Company, enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally or by general equity principles (regardless of whether enforceability is considered in a proceeding in equity or at law). The New Indenture will conform in all material respects to the requirements of the Trust Indenture Act of 1939, as amended, and the regulations of the Commission thereunder (collectively, the “Trust Indenture Act”).
New Indenture. In connection with a New Indenture Installation in compliance with the requirements of Section 24, a collateral agent, meeting the requirements of Section 23.14 as though it was a successor Collateral Agent, shall be appointed and the appointment and direction of a collateral agent under this Agreement to act on behalf of and for the benefit of the holders, shall be on terms substantially similar to those set forth in this Section 23.
New Indenture. On the Effective Date, Reorganized Holdings, Reorganized GSI and Reorganized MES shall enter into, and shall cause their respective Subsidiaries party to the New Indenture to enter into, the New Indenture providing for the issuance of the New Senior Secured Notes and guarantees of such notes. Reorganized GSI shall qualify the New Indenture in accordance with the Trust Indenture Act of 1939.
New Indenture. This Agreement is subject to the terms, ------------- conditions and provisions of the New Indenture. To the extent a term or provision of this Agreement conflicts with the New Indenture, the New Indenture shall control with respect to the subject matter of such term or provision.
New Indenture. (a) No Event of Default (as defined in the New Indenture) or Default (as defined in the New Indenture) exists, nor will any such Event of Default or Default exist immediately after any Credit Extension, under the New Indenture, the New Senior Notes or any agreement executed by the Company or any other Domestic Loan Party in connection therewith; (b) no Loan Party or any of its Subsidiaries has incurred any Designated Senior Debt (as defined in the Existing Indenture) other than the Secured Obligations; (c) the making of any Loan shall not constitute Indebtedness (as defined in the New Indenture) incurred in violation of Section 4.09 (Incurrence of Indebtedness and Issuance of Preferred Stock) of the New Indenture; (d) all of the Secured Obligations constitute both Senior Debt (as defined in the Existing Indenture) and Designated Senior Debt (as defined in the Existing Indenture); and (e) the Secured Obligations, including the Canadian Revolving Exposure, constitute Indebtedness permitted under Section 4.09(b) of the New Indenture.
New Indenture. As defined in the preamble hereto and shall include any amendment or supplement thereof.
New Indenture. The Indenture shall be amended and restated to reflect the terms of the Restructuring set forth herein, and the Restated Notes shall be issued pursuant to such indenture (as so amended and restated, the "Restated Indenture") to which Stratosphere, as issuer, Gaming Corp., as guarantor, and a trustee shall be parties. The trustee under the Restated Indenture (the "Restated Notes Trustee") shall be a corporation reasonably acceptable to Grand, Stratosphere, Gaming Corp. and the Noteholders that is authorized to exercise corporate trustee power and that has combined capital and surplus of at least $50,000,000 as set forth in its most recent annual report. The Restated Indenture shall contain such covenants as are customary for senior secured public debt issuances and as are reasonably acceptable to Grand, Stratosphere and the Noteholders.
New Indenture. The Company has the requisite power and authority to execute, deliver and perform its obligations under the New Indenture. The New Indenture has been duly and validly authorized by the Company and meets the requirements for qualification under the Trust Indenture Act of 1939, as amended, and, when executed and delivered by the Company (assuming the due authorization, execution and delivery by the Trustee), will constitute a valid and legally binding agreement of the Company, enforceable against the Company in accordance with its terms, except that the enforcement thereof may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors' rights generally, and (ii) general principles of equity.
New Indenture. The New Indenture shall be prepared in a form and content acceptable to Agent Bank, consistent with the requirements contained in the definition of Subordinated Debt, and executed by all applicable parties thereto, the Initial Senior Subordinated Notes shall have been issued by Argosy and Argosy shall have received the proceeds thereof, net of any expenses, discounts and any other amounts due to the initial purchasers or third parties in connection with offering and issuance of the Initial Senior Subordinated Notes (the "Senior Subordinated Notes Effective Date").
New Indenture. See preamble.
