New Second Lien Notes definition

New Second Lien Notes means the new secured notes to be issued by Sherritt pursuant to the New Second Lien Notes Indenture and this Plan, which notes will be denominated in Canadian Dollars, be issued in an aggregate principal amount equal to 54% of the aggregate principal amount of Existing Notes outstanding as at the Effective Date plus the aggregate amount of all accrued and unpaid interest outstanding in respect of the Existing Notes (calculated at the contractual non-default rate) up to but not including the Effective Date, and be substantially on the terms set forth in the form of New Second Lien Notes Indenture filed by Sherritt on SEDAR on or about June 29, 2020, as such terms may be further amended pursuant to this Plan;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

New Second Lien Notes means the secured notes contemplated under the New Second Lien Notes Agreement.

New Second Lien Notes means the new U.S. dollar 10.25% senior secured second lien notes due July 15, 2023, 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 terms of the New Second Lien Notes shall include the terms set forth on Schedule “C” hereto, customary terms and conditions of second lien note indentures and such other terms and conditions as may be agreed to by the Company and the Majority Second Lien Noteholder Supporting Parties.

Examples of New Second Lien Notes in a sentence

• In consideration for entering into, and conditional on fulfilling the obligations under, the Backstop Commitment Agreement, the Backstop Parties shall be entitled to receive on the Effective Date a fee equal to 5% of the New Capital Offering Amount, which fee shall be applied by the Backstop Parties to acquire additional New Second Lien Notes on the Effective Date.

• As of the Closing Date, (i) all indebtedness issued in connection with this Agreement or the Tender Offer and Consent Solicitation shall be New Second Lien Notes and (ii) all New Second Lien Notes issued on the Closing Date that are (x) IAI notes shall trade under a single IAI CUSIP number, (y) Reg S notes shall trade under a single Reg S CUSIP number and (z) 144A notes shall trade under a single 144A CUSIP number.

• Each Stone Noteholder acknowledges that as of the Closing Date the New Second Lien Notes will have not been registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S or pursuant to an exemption from the registration requirements of the Securities Act.

• Each Bridge Loan Lender acknowledges that on the Closing Date the New Second Lien Notes will have not been registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S or pursuant to an exemption from the registration requirements of the Securities Act.

• The holders of the New Second Lien Notes and the New Second Lien Notes Trustee shall have received a written opinion of ▇▇▇▇, Weiss, Rifkind, ▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP, counsel to the Issuers, (A) dated the Closing Date, (B) addressed to the holders of the New Second Lien Notes and the New Second Lien Notes Trustee and (C) solely with respect to the opinions set forth on Exhibit D hereto.

More Definitions of New Second Lien Notes

New Second Lien Notes means the $375,000,000 in an aggregate principal amount of newly issued second-lien senior notes issued on the Effective Date by CGG pursuant to the Second Lien Private Placement Agreement and guaranteed by the Guarantor Debtors pursuant to the New Second Lien Notes Indenture. The New Second Lien Notes will be subject to the New Intercreditor Agreement.

New Second Lien Notes means the 10.000% Second Lien Senior Secured Notes due 2025 issued pursuant to the New Second Lien Notes Indenture.

New Second Lien Notes means the New Second Lien Notes due 2024 issued under that certain indenture, dated as of June 7, 2019, by and among the Issuers, Neiman Marcus Group, LLC, the Subsidiary Co-Issuer and Ankura Trust Company, LLC, as trustee.

New Second Lien Notes means the Second Priority Adjustable Senior Secured Notes issued by the Issuers.

New Second Lien Notes means any senior secured second lien notes issued by the Borrower for the purposes of refinancing its Indebtedness hereunder (or, on or prior to the Closing Date, its undrawn commitments hereunder).

New Second Lien Notes has the meaning set forth in the Plan.

New Second Lien Notes means new U.S. dollar 8.5% second lien notes due 2023 in the aggregate principal amount of US$50 million to be issued on the Effective Date by the Company pursuant to the Existing Second Lien Note Purchase Agreement and the CBCA Plan.