Loral Space definition
Examples of Loral Space in a sentence
If an Event of Default specified in clause (g) or (h) above occurs with respect to the Company or an Event of Default of the type described in clause 8 or 9 of the definition of Event of Default under the Loral Space Guaranty occurs with respect to Loral Space, the principal amount of, premium, if any, and accrued interest on the Notes then outstanding shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.
All agreements of Loral Space in this Guaranty shall bind their successors.
The Board of Directors may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if the redesignation would not cause a Loral Space Default.
The Board of Directors may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would not cause a Loral Space Default.
Loral Space shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien of any kind on any asset now owned or hereafter acquired, except Permitted Liens.
Loral Space has caused this Guaranty to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written.
No past, present or future director, officer, partner (including any general partner) employee, incorporator or stockholder, as such, of Loral Space shall have any liability for any obligations of Loral Space under this Guaranty or for any claim based on, in respect of or by reason of such obligations or their creation.
Loral Space shall not, and shall not permit any Restricted Subsidiary to, engage in any business other than Permitted Businesses, except to the extent as would not be material to Loral Space and its Restricted Subsidiaries, taken as a whole.
All notices hereunder, to be effective, shall be in writing and shall be delivered by hand or mailed by certified mail, postage and fees prepaid, as follows: If to the Company: Loral Space & Communications Inc.
Payment of principal, premium, if any, and interest (including interest on overdue principal and overdue interest, to the extent lawful) on the Notes and all other obligations of the Company to the Holders or the Trustee under the Indenture and the Notes (a) is, jointly and severally, unconditionally guaranteed by each of the Subsidiary Guarantors pursuant to and subject to the terms of Article Ten of the Indenture; and (b) is unconditionally guaranteed by Loral Space and Communications Ltd.