Series B Notes and Series C Notes Clause Samples

Series B Notes and Series C Notes. (a) The principal --------------------------------- amount of Series B Notes to be issued on the Debt Refinancing Date will equal such amount which, when added to the interest anticipated to accrue thereon from the Debt Refinancing Date to the then anticipated In-Service Date, determined in the reasonable judgment of HCG, will be equal to the Debt Commitment (as of the anticipated In-Service Date). The proceeds of the sale of the Series B Notes or Series G Notes will be used to refund in part the Series A Notes (including payment of accrued interest thereon). (b) If the Debt Refinancing Date occurs prior to the In-Service Date, then on the Debt Refinancing Date, Series C Notes will be issued and sold in a principal amount which is equal to the amount required to refund in full the Series A Notes (including accrued interest thereon) on the Debt Refinancing Date, after application to such refunding of the proceeds from the sale of the Series B Notes as provided above in Section 10.03(a). (c) The Series G Notes may be refinanced with the proceeds of Series B Notes pursuant to Section 2.3(a)(ii) of the Indenture. In connection with any such refinancing, the terms (financial or otherwise) of the Series B Notes used to refinance the Series G Notes shall reflect then current market terms for the type of indebtedness (which may include commercial bank debt) and lender involved, in a leveraged lease context, with borrowers similarly situated to HCG, taking into account the guarantee of GMHE, the credit standards of the lender and the fixed rate feature and maturity date of the Series B Notes, and the Indenture shall be modified, if necessary, including without limitation with respect to debt/equity points, to reflect such market terms.