Third Lien Notes Clause Samples

Third Lien Notes. 1. Apply proceeds of the Initial Third Lien Notes (i) on or prior to the court deadline, to deposit into the Judgment Appeal Account the amount necessary to stay any enforcement of the June 2021 Judgment, by reason of pending appeal, (ii) to pay any amounts due under a settlement agreement of the June 2021 Judgment, so long as the terms of the settlement agreement can be satisfied by a cash payment made solely from the proceeds of the Initial Third Lien Notes on deposit in the Specified Distributable Cash Account or from amounts on deposit in the Judgment Appeal Account and none of the Parent, the Borrower or any other Loan Party has any liability, contingent obligations or any other obligations in respect of such settlement agreement following such payment of cash other than the liabilities, contingent obligations or any other obligations set forth in an agreement in the form of Exhibit O, or (iii) for general corporate purposes only after Borrower has discharged the June 2021 Judgment; and 2. Promptly provide Administrative Agent upon its request with copies of all material correspondence and documentation regarding the CARES Act Loan.