Exchangeable Notes definition
Examples of Exchangeable Notes in a sentence
Specifically, with respect to the exchange of Exchangeable Notes for corresponding MASCOT Notes, the per annum interest rates payable on the corresponding MASCOT P&I Notes and the corresponding MASCOT Interest Only Notes shall be determined, on the date of such exchange, by the Holder of the Exchangeable Notes surrendered in such exchange.
The aggregate interest rates of the Exchanged Notes received in the exchange shall equal the aggregate interest rate of the Exchangeable Notes surrendered for exchange.
The Exchangeable Notes may be exchanged by the Holders thereof for (1) a corresponding MASCOT P&I Note with the same principal balance as such Exchangeable Notes surrendered in the exchange but with a reduced Note Interest Rate, and (2) a corresponding MASCOT Interest Only Note that has a notional amount equal to the principal balance of the corresponding MASCOT P&I Note received in such exchange and a fixed interest rate equal to such reduction in Note Interest Rate.