Aggregate Initial Note Balance definition
Examples of Aggregate Initial Note Balance in a sentence
The Issuer shall not permit the Asset Coverage Ratio to be (i) if the aggregate Initial Note Balance is at least $35,000,000 and less than $40,000,000, less than 2.6 to 1.0, (ii) if the aggregate Initial Note Balance is at least $40,000,000 and less than $45,000,000, less than 2.25 to 1.0, and (iii) if the Aggregate Initial Note Balance is $45,000,000, less than 2.0 to 1.0, at any time.
The Issuer shall have the right, subject to the terms hereof, to redeem, in whole but not in part, all Outstanding Notes on the Redemption Date fixed in accordance therewith on any Payment Date on which the Aggregate Outstanding Note Balance, after giving effect to the payments made on such Payment Date, is less than or equal to fifteen percent (15%) of the Aggregate Initial Note Balance issued under this Indenture (an “Optional Redemption”).
The Issuer shall have the right, subject to the terms hereof, to redeem, in whole but not in part, all Outstanding Notes prior to the Stated Maturity Date on any Payment Date on which the Aggregate Outstanding Note Balance, after giving effect to the payments to be made on such Payment Date, is less than or equal to ten percent (10%) of the Aggregate Initial Note Balance issued under this Indenture.
Failure of any Employee to apply for and maintain a good standing membership in accordance with Section 1 of this Article shall constitute cause for dismissal; however, the EMPLOYER has no duty to act until the UNION makes a written request for discharge and verifies that the Employee received written notification of the delinquency, including the amount owing and method of calculation, and that nonpayment within seven (7) days will result in discharge by the EMPLOYER.