Accepting Holders definition
Examples of Accepting Holders in a sentence
Amounts remaining after the allocation of accepted amounts with respect to the First Offer and the Second Offer to Accepting Holders shall be retained by Issuer.
On such date the Administrative Agent shall then provide written notice (the “Second Offer”) to the Holders other than the Declining Holders (such Holders being the “Accepting Holders”) of the additional amount available (due to such Declining Holders’ declining such prepayment) to prepay Notes owing to such Accepting Holders, such available amount to be allocated on a pro rata basis among the Accepting Holders that accept the Second Offer.
Each of the Accepting Holders may acquire up to such number of Rejected Securities as is determined by multiplying the relevant Accepting Holder’s Participating Holder Pro Rata Share by the number of Rejected Securities.
This procedure shall continue until all Rejected Securities have been taken up by the Accepting Holders, or until each Accepting Holder has indicated that they do not wish to take up additional Rejected Securities.
The closing of the Financing shall take place on such date, no less than ten and no more than thirty days after the date of the Acceptance Notice, as the Company and the Accepting Holders may agree.
Securities not accepted by an Accepting Holder (each a “Rejected Security”) shall be offered to all Accepting Holders on the day falling one day after the expiry of the Proposed Issuance Offer Period.
If any of the Rejected Securities are not acquired by the Accepting Holders, the relevant Offshore Group Company shall have 20 days from the expiration of the Proposed Issuance Offer Period to complete the issuance of the Rejected Securities on the same terms and conditions as set forth in the Proposed Issuance Notice.
The Company shall continue to offer additional pro rata portions to Accepting Holders choosing to purchase their full pro rata portion of such Offered Securities pursuant to this Section 3.05(b) until (i) all Offered Securities have been purchased by the Accepting Holders or (ii) all Accepting Holders have purchased the maximum number of Offered Securities indicated in their respective Section 3.05 Acceptances, whichever is earlier (the “Offer Expiration Date”).
Amounts offered to and rejected by any Exchange Note holder shall be ratably applied to prepay the Loans, the Exchange Notes held by Accepting Holders and callable Exchange Notes.
Amounts remaining after the allocation of accepted amounts with respect to the First Offer and the Second Offer to Accepting Holders shall be retained by the Issuer in accordance with Section 2.10.