Peso Notes definition
Examples of Peso Notes in a sentence
The Company shall not, nor shall it permit any subsidiary to, in any case prior to December 31, 2008, create, incur, assume or permit to exist any Lien on or with respect to any real or personal property of such entity, except for Permitted Liens, unless such real or personal property shall equally and ratably secure the Dollar Notes and the Peso Notes.
Neither the Company nor the Guarantor shall make any payments of any obligations due and owing under the Class 8 Trust Agreement and/or any of the Peso Notes issued pursuant thereto, whether made prior to or after the occurrence of any Default and regardless of whether due by acceleration, any collection remedies available hereunder or otherwise, unless it simultaneously makes payment of the comparable obligations due and owing under this Indenture, and vice versa.
Each of the Company and the Guarantor further covenants that, at no time, whether prior to or after the occurrence of any Default, will it favor any of the holders of Peso Notes over any of the Holders of the Dollar Notes, and vice versa; nor shall it, at any time, whether prior to or after the occurrence of any Default, take any actions that would prejudice the rights of any of the Holders of Dollar Notes to those of any of the holders of the Peso Notes, and vice versa.
The Trustee shall promptly turn over to the Disbursing or Paying Agent upon written request of the Disbursing or Paying Agent or the Creditors Representative any excess money or U.S. Government Obligations held by the Trustee at any time, which thereafter must be distributed by the Disbursing or Paying Agent in accordance with the Plan (whether to the Holders, the holders of Peso Notes, the Company or as otherwise provided in the Plan).
Each of the Company and Guarantor represents and warrants that the Class 8 Trust Agreement contains a comparable provision to this Section 2.02(e), and covenants that such comparable provision will be maintained so long as any Dollar Notes or any Peso Notes are outstanding.
The principal payment amount due as of each amortization payment date shall be calculated by applying the percentage shown in the relevant amortization schedule to the Outstanding principal amount of the Peso Notes as of the date hereof and then adjusting such amount by the variation of CER between the date hereof and each amortization payment date.
As a consequence, notwithstanding anything in this Indenture or the Securities to the contrary, the provisions of Sections 5.02 and 6.08 hereof may not be amended, modified or terminated (except if such termination occurs as a result of the payment in full of the Peso Notes) without the express written consent of the Class 8 Trustee.
On or prior to the Change in Control Date, the Company shall simultaneously deposit with the applicable disbursing or paying agent for the Peso Notes the equivalent “Change in Control Amount” for the Peso Notes pursuant to the Class 8 Trust Agreement, subject to equivalent rights set forth in the Class 8 Trust Agreement.
Simultaneously with issuing such additional Securities, the Company shall make corresponding adjustments to the Peso Notes held by the Class 8 Trustee pursuant to the provisions of the Class 8 Trust Agreement (which may include notations on the Peso Notes rather than their cancellation), so that each holder of a Trust Certificate will receive its Pro Rata share of such excess.
The provisions of Sections 5.02 and 6.08 hereof shall be deemed to be a estipulación en favor de otro (a stipulation in favor of a third party) pursuant to the terms of Article 1506 of the Colombian Civil Code, which the Class 8 Trustee accepts by accepting the Peso Notes and other distributions pursuant to the Plan.