Senior Term Notes Sample Clauses
The 'Senior Term Notes' clause defines the terms and conditions governing a specific class of debt instruments that take priority over other forms of debt in the event of liquidation or bankruptcy. Typically, this clause outlines the principal amount, interest rate, maturity date, and repayment schedule for the senior notes, and may specify covenants or restrictions to protect noteholders. By establishing the seniority and repayment terms, this clause ensures that holders of these notes are paid before other creditors, thereby reducing their risk and clarifying the order of claims in adverse financial situations.
Senior Term Notes. The Loan Parties, jointly and severally, covenant and agree to make payments to Agent, for the ratable benefit of the Purchasers holding Senior Term Notes, of accrued interest on the Senior Term Notes monthly in arrears on the first LIBOR Business Day of each month, commencing on July 1, 2006 through the date of repayment in full of the Senior Term Notes. The Senior Term Notes shall bear interest on the outstanding principal thereof at a rate equal to the LIBOR Rate, as such rate may adjust from time to time, plus six and one-half percent (6.5%).”
Senior Term Notes. On the Closing Date, the Loan Parties duly authorized the issuance to the Purchasers designated on Annex A of $40,000,000 aggregate principal amount of the Loan Parties’ Second Priority Senior Secured Notes due May 25, 2012 (together with any promissory notes issued in substitution therefor pursuant to Sections 6.3 and 6.4, the “Senior Term Notes”) substantially in the form of the promissory notes made by the Loan Parties in favor of the Purchasers thereof in the form attached hereto as Exhibit A.
Senior Term Notes. As compensation for services rendered in connection with this Agreement, Fortis shall be paid a fee (the “Structuring Fee”) in an aggregate amount equal to the product of (x) one percent (1.00%) and (y) the original aggregate principal balance of all Senior Term Notes. A portion of the Structuring Fee shall be earned and payable to Fortis in the amounts and upon the achievement of each of the following milestones: 1. a) Execution of this Agreement, b) first draft of presentation materials regarding the Notes for submission to the Rating Agencies, and c) commencement of financial model to be used for Rating Agency evaluation purposes. It is agreed upon by all parties that this milestone has been completed as of September 20, 2006. 1. 7.5 bps of an anticipated program amount of $300MM
Senior Term Notes. The Loan Parties, jointly and severally, covenant and agree to make payments to the Purchasers holding Senior Term Notes, of accrued interest on the Senior Term Notes semi-annually in arrears on the first Business Day of each June and December, commencing on December 1, 2007, through the date of repayment in full of the Senior Term Notes. The Senior Term Notes shall bear interest on the outstanding principal thereof at a rate equal to the fixed rate of eleven and one-half percent (11.50%).
Senior Term Notes. On the Closing Date, the Loan Parties duly authorized the issuance to the Purchasers designated on Annex A of $30,000,000 aggregate principal amount of the Loan Parties’ Senior Secured Term B Notes due January 6, 2011 (together with any promissory notes issued in substitution therefor pursuant to Sections 6.3 and 6.4, the “Senior Term Notes”) substantially in the form of the promissory notes made by the Loan Parties in favor of the Purchasers thereof in the form attached hereto as Exhibit A. The outstanding principal balance of the Senior Term Notes as of the First Amendment Closing Date is $30,000,000. On the First Amendment Closing Date, the Loan Parties, pursuant to Section 3.3 of this Agreement, will make to Agent, for the ratable benefit of the Purchasers, a principal payment in the aggregate amount of $15,000,000 of the Senior Term Notes.”