Examples of First Lien Trustee in a sentence
The first indication that the use of Rosetta Proceeds could be contested came in mid-July 2005 when Kelley Drye & Warren (“Kelley Drye”), a law firm representing First Lien Noteholders holding a majority of the First Lien Notes, contacted the First Lien Trustee requesting, among other things, that they be hired as counsel for the First Lien Trustee.
The Plan also must be clear that the Collateral Trust Agreement continues in force after the Effective Date for purposes of the inter- creditor action and for purposes of establishing the Claims and rights of the First Lien Trustee and Noteholders against EFIH, including any Breach Claim.
If the manner in which the SOFR® is calculated is changed, that change may result in a reduction of the amount of interest payable on the Instruments and the trading prices of the Instruments.
The First Lien Trustee premised its request for relief on a variety of grounds, including the core ground of breach of contract, and duplicative belts and suspenders arguments such as unjust enrichment of Calpine and wrongful conversion of assets belonging to the holders of the First Lien Notes.
Moreover, although I have found the First Lien Trustee had no standing to raise its affirmative requests for relief, any attempt by Calpineto try to diminish that entitlement will be met with little patience by me, given the obvious relationship between those requests and the issues that Calpine presented in its request for declaratory relief, and the reality that Calpine benefited by having the First Lien Trustee take the lead on issues of joint interest to the First and Second Lien Trustees.