Work Fee. The Ad Hoc Group will be entitled to a fee of 1.0% of the aggregate principal amount of the Notes, which shall be paid in full in cash on the issue date of the Interim New Super Senior Notes (as defined below) (the “Work Fee”), in accordance with the terms of the lock-up agreement. The Work Fee will be paid free and clear of withholding taxes. Early Consent Payment: Each noteholder that validly consents to the Notes Amendments (a “Consenting Noteholder”), accedes to a lock-up agreement by the Early Participation Time and does not withdraw such consent, will be entitled to a pro rata share of an early consent payment of 0.50% of the aggregate principal amount of the Notes, based on such Consenting Noteholder’s outstanding principal amount of the Notes five Business Days prior to the Effective Time, which shall be paid in full in cash within five business days of the Effective Time (the “Early Consent Payment”), in accordance with the terms of the lock-up agreement. The Early Consent Payment will be paid free and clear of withholding taxes. Consent Payment: Each Consenting Noteholder that does not withdraw such consent and that accedes to the lock-up agreement after the Early Participation Time but before the Expiration Time, will be entitled to a pro rata share of a consent payment of 0.50% of the aggregate principal amount of the Notes based on such Consenting Noteholder’s outstanding principal amount of the Notes five Business Days prior to the Effective Time, to be paid in full in cash within five business days of the Effective Time (the “Consent Payment”), in accordance with the terms of the lock-up agreement. For the avoidance of doubt, any Consenting Noteholder entitled to payment of the Early Consent Payment may also be entitled to payment of the Consent Payment. The Consent Payment will be paid free and clear of withholding taxes.
Appears in 3 contracts
Sources: Lock Up Agreement, Lock Up Agreement, Lock Up Agreement