Notes Redemption definition
Examples of Notes Redemption in a sentence
Prior to the PAETEC Notes Redemption Date, the Borrower will not permit any PAETEC Group Member to form or acquire any Subsidiary except for the purpose of reorganizing the organizational structure or form of organization of any of the PAETEC Group Members.
For the avoidance of doubt, from and after the PAETEC Notes Redemption Date, any Qualified PAETEC Group Member not previously subject to the requirements set forth in this Section 5.10 shall be subject to the requirements set forth in this Section 5.10 as if such Qualified PAETEC Group Member became a Subsidiary on such date.
Notwithstanding anything to the contrary contained in this Agreement, the Credit Parties are permitted to redeem the Senior Notes pursuant to the Qualifying Senior Notes Redemption.
Notwithstanding the foregoing, the Redemption Notice shall be mailed, and the funds necessary for the Discharge shall be deposited, on the Closing Date and the parties shall use their respective reasonable best efforts to cause the Notes Redemption and the Collateral Release to be effected on the Closing Date.
Such redemption shall be (i) accompanied by a payment of all regularly scheduled interest accrued and unpaid due on this Note to, but not including, the applicable Secured Notes Redemption Date, (ii) applied to principal on this Note on the Secured Notes Redemption Date arising as a result of the redemption of this Note, and (iii) funded in immediately available funds directly into the Ambac Note Proceeds Collateral Account.
Such redemption shall be applied, on the Secured Notes Redemption Date arising as a result of such redemption of this Note, to the maximum amount of principal on this Note that can be repaid with such Mandatory Redemption Amount, along with, and taking into account, any accrued but unpaid interest on such principal to but excluding the applicable Secured Notes Redemption Date at the time of such payment.
The Company shall, and shall cause its Subsidiaries to, and shall use its reasonable best efforts to cause their respective Representatives to, provide all cooperation necessary in connection with the Notes Redemption.
Within five days following the Restatement Date, the Borrower shall mail to the holders of the Existing Notes (or any trustee therefor) irrevocable notice of the Existing Notes Redemption, which notice shall comply with all applicable requirements of the indenture governing the Existing Notes and shall establish a date not later than 50 days after the mailing thereof as the Existing Notes Redemption Date; and the Borrower shall effect the Existing Notes Redemption on the Existing Notes Redemption Date.
The Company hereby agrees to consummate a Qualifying Senior Notes Redemption concurrently with the consummation of a Qualifying IPO.
The first sentence of Section 9.08 is hereby amended and restated to read as follows: “The Borrower will not permit the proceeds of the Loans to be used (i) for any purpose other than those permitted by Section 7.21, (ii) to Redeem any Senior Notes or any Permitted Refinancing Debt in respect thereof except Loans in a principal amount not to exceed the Available Senior Notes Redemption Amount at such time or (iii) to Redeem any Second Lien Loans or any Permitted Refinancing Debt in respect thereof.