First Priority Securities definition
Examples of First Priority Securities in a sentence
Such waiver and release are part of the consideration for the issuance of the First Priority Securities.
Interests in a Global First Priority Security may be exchanged for Certificated First Priority Securities substantially in the same manner as under Section 2.6(h)(3) only in accordance with such procedures, which shall be substantially consistent with the provisions of Section 2.6(g)(1) and (2) above and (4) below, as may be from time to time adopted by the Company and the First Priority Indenture Trustee, and any Applicable Procedures.
All First Priority Securities issued upon any registration of transfer or exchange of First Priority Securities shall be the valid obligations of the Company, evidencing the same debt, and subject to the other provisions of this Section 2.6, entitled to the same benefits under this First Priority Indenture, as the First Priority Securities surrendered upon such registration of transfer or exchange.
The quorum at any meeting called to adopt a resolution will be Persons holding or representing at least a majority in aggregate principal amount of the outstanding First Priority Securities, and the quorum at any adjourned meeting will be Persons holding or representing a majority in aggregate principal amount of the outstanding First Priority Securities.
This Agreement shall be solely for the benefit of the Pledgee and the holders of First Priority Obligations and First Priority Securities represented thereby, the Pledgor, and no other person or entity shall be a third-party beneficiary hereof.
The Registrar shall keep a register of the First Priority Securities and of their transfer and exchange.
Until so exchanged, the temporary First Priority Securities shall in all respects be entitled to the same benefits under this First Priority Indenture as First Priority Securities in permanent form authenticated and delivered hereunder.
Each First Priority Guarantor hereby acknowledges communication of the terms of this First Priority Indenture, the First Priority Securities, and all other First Priority Documents, and consents to and approves of the same.
Any recovery of judgment shall, after provision for the payment of compensation to, and expenses, disbursements and advances of the First Priority Indenture Trustee, its agents, and its counsel and all other amounts due the First Priority Indenture Trustee under Section 6.7, be for the ratable benefit of the First Priority Holders of the First Priority Securities in respect of which such judgment has been recovered.
Upon surrender for registration of transfer of any First Priority Security at an office or agency of the Company designated for such purpose or of the Registrar, and subject to the other provisions of this Section 2.6, the Company shall execute, and the First Priority Indenture Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new First Priority Securities of any authorized denominations and of a like aggregate principal amount.