New First Lien Notes definition

New First Lien Notes means the new Canadian dollar 8.25% senior secured first lien notes due July 15, 2021, issued by the PNI (and guaranteed by PNCC and material restricted subsidiaries of PNCC and PNI) pursuant to the Plan and on terms and conditions acceptable to the Company and the Majority Second Lien Noteholder Supporting Parties. The New First Lien Notes shall be issued under the amended First Lien Notes Indenture with such modifications as set forth on Schedule “B” hereto, and such other modifications as may be agreed to by the Company and the Majority Second Lien Noteholder Supporting Parties.

New First Lien Notes means the new first lien notes, in an amount of the Allowed Secured Funded Debt Claims less the (i) principal amount of Allowed Termed Out French RCF Claims and (ii) Secured Funded Debt Claims Cash Payment, issued on the Effective Date by reorganized CGG Holding (U.S.) Inc. and guaranteed by the Guarantor Debtors and CGG pursuant to the New First Lien Notes Indenture. The New First Lien Notes will be subject to the New Intercreditor Agreements.

New First Lien Notes means the 11.500% First Lien Senior Secured Notes due 2028 issued pursuant to the New First Lien Notes Indenture.

Examples of New First Lien Notes in a sentence

• The New First Lien Notes will have been duly authorized and will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting, creditors rights and to general equity principles.

• Thresholds To be agreed by the Company and the Majority Second Lien Noteholder Supporting Parties acting reasonably for a transaction of this nature, but to be no more onerous than under the New First Lien Notes Indenture.

• The New Second Lien Notes will be secured under the same security documents as the New First Lien Notes, subject to the terms of the Collateral Agency Agreement.

• The terms and conditions of the New Second Lien Notes Indenture shall be no more onerous than under the New First Lien Notes Indenture.

• Maturity Date July 15, 2023 Interest Rate At the option of PNI, (a) 10.25% cash interest, or (b) 11.25% PIK interest, provided that no cash interest shall be paid unless permitted by the indenture for the New First Lien Notes (see item (3) under “Covenants” in Schedule B).

More Definitions of New First Lien Notes

New First Lien Notes means the 10.5% First Lien Senior Secured Notes due 2026.

New First Lien Notes means the 10.5% First Lien Senior Secured Notes due 2026 to be issued by the Issuer.

New First Lien Notes means any senior secured first lien notes issued by the Borrower for the purposes of refinancing its Indebtedness under the First Lien Bridge Credit Agreement (or, on or prior to the Closing Date, its undrawn commitments thereunder) or otherwise to fund a portion of the Acquisition in an aggregate principal amount not to exceed €1,500,000,000 and £300,000,000.

New First Lien Notes means those certain notes, in an aggregate principal amount of up to approximately $385 million, to be issued pursuant to the New First Lien Indenture.

New First Lien Notes means up to $105 million in aggregate principal amount of newly-issued senior secured notes issued in connection with the Exchange Offer on terms set forth in the Restructuring Term Sheet.

New First Lien Notes means the $200,000,000 aggregate principal amount of 10.5% First Lien Secured Notes due 2026 issued by the Company on the Issue Date.

New First Lien Notes means those new first lien notes to be issued on the Effective Date pursuant to the New First Lien Note Indenture, the terms and conditions of which shall be materially consistent with the terms and conditions set forth in the Transaction Support Agreement and otherwise reasonably acceptable to the Required Consenting Parties and the Company.