Hybrid Note definition

Hybrid Note means a note issued by Canadian Borrower to and in favor of Manufacturing which is structured and qualifies as an equity Investment for purposes of applicable U.S. law and Indebtedness for purposes of applicable Canadian law.
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Hybrid Note means any debt instrument governed by Canadian law that is issued by a Canadian Subsidiary and is treated as equity for U.S. federal income tax purposes.
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Examples of Hybrid Note in a sentence

  • If any Floating Rate Note or any Hybrid Note becomes due and payable under Condition 9, the Rate of Interest and Interest Amounts payable in respect of such Note after the date of the notice given under such Condition shall nevertheless continue to be calculated as previously by the Agent Bank in accordance with the provisions (amended as necessary) of the Conditions but no publication of such Rate of Interest and Interest Amounts need be made unless the Trustee otherwise requires.

  • The relevant Issuer will procure that, so long as any Floating Rate Note, Variable Rate Note or Hybrid Note remains outstanding, there shall at all times be three Reference Banks (or such other number as may be required) and, so long as any Floating Rate Note, Variable Rate Note, Hybrid Note or Zero Coupon Note remains outstanding, there shall at all times be an Agent Bank.

  • With effect as of the Effective Date, CCEL hereby agrees that distributions, if any, on all of the Claims of CCEL against CCRC including any Claims arising from the ULC1 Hybrid Note Structure, shall only be made after distributions have been made on account of the Claims against CCRC in the priority set forth in Section 2.9(d).

  • Distributions on all of the Claims of Calpine Canada Energy Limited (“CCEL”) against CCRC including any Claims arising from the ULC1 Hybrid Note Structure shall only be made after distributions have been made on account of the Claims against CCRC in the priority set forth in paragraph 37 hereof.

  • Each Hybrid Note bears interest on its Calculation Amount from the Interest Commencement Date in respect thereof and as shown on the face of such Note.

  • Unless previously redeemed or purchased and cancelled as provided below, this Note will be redeemed at its Redemption Amount on the Maturity Date shown on its face (if this Note is shown on its face to be a Fixed Rate Note, Hybrid Note (during the Fixed Rate Period) or Zero Coupon Note) or on the Interest Payment Date falling in the Redemption Month shown on its face (if this Note is shown on its face to be a Floating Rate Note, Variable Rate Note or Hybrid Note (during the Floating Rate Period)).