Bond Restructuring definition
Examples of Bond Restructuring in a sentence
In the event that Borrower's Legal Expenses are less than $10,000, the remainder shall be used to supplement the $30,000 budget for legal costs and expenses incurred in connection with this Agreement, preparation of the Supplement Indenture and amendment of the Loan Documents as contemplated herein (the "Forbearance and Bond Restructuring Legal Expenses").
The repayment date of the amounts owing under the Bond Restructuring Agreement was 18 June 2018, and as at the date of this announcement, the outstanding principal amount that remains payable by the Company to the Creditor is S$15,802,150 (the “Outstanding Principal”).
In the event that the Forbearance and Bond Restructuring Legal Expenses exceed the amount available for payment as provided herein, Summit shall be responsible for the payment of such excess.
Premier Equity Fund Sub Fund D is the New Bondholder pursuant to a Bond Restructuring Agreement dated 19 June 2015 as announced by the Company on 20 June 2015.
The Parties agree that the Majority Bondholder’s funding of amounts necessary to make the payments owed to the Minority Bondholders is intended to constitute a loan of such funds to the Corporation on and subject to the same economic terms as the 2002 Bonds, and shall be documented and secured as a parity bond obligation under any new indenture on the same level as the Senior Series 2020B Bonds at such time as the Bond Restructuring occurs.
The Board wishes to announce that the Company has today entered into a debt restructuring agreement (the “Debt Restructuring Agreement”) with the Creditor and the Manager to terminate the Bond Restructuring Agreement and restate the obligations and liabilities of the Company, the Creditor and the Manager (collectively, the “Parties”) on the terms and subject to the conditions of the Debt Restructuring Agreement (the “Proposed Debt Restructuring”).
The Company has decided to enter into the Loan Agreement to fulfil its repayment obligations under the Bond Restructuring Agreement and provide general working capital.
Upon the occurrence of the Bond Restructuring described in subsection 2(b)(2) above, this Agreement shall terminate in accordance with its terms, and the parties hereto shall continue and be subject to the terms and conditions of the Supplemental Indenture, Bonds, and Loan Documents, as issued and amended pursuant to the Bond Restructuring.
On cancellation of the Bond Restructuring Agreement, the Parties have agreed that with effect from the date of receipt of all the Relevant Approvals, they shall have no rights, claims or cause of action against each other in respect of the Bond Restructuring Agreement and will not enforce or attempt to enforce any of the rights, claims, duties, liabilities, obligations, undertakings, indemnities and/or breaches in respect of the Bond Restructuring Agreement.
For the avoidance of doubt, there are no contractual rights for any such board representation contained in the Bond Restructuring Agreement or the Debt Restructuring Agreement.