Remaining Bonds definition
Examples of Remaining Bonds in a sentence
Each Holder electing Option B shall receive a pro rata share of the Remaining Bonds New Securities determined by multiplying the Remaining Bonds New Securities by a fraction, the numerator of which will be the principal amount of Remaining Bonds elected to be treated in Option B by that holder, and the denominator of which shall be the total principal amount of Remaining Bonds elected to be treated in Option B (for each such Holder the "Remaining Bonds Oversubscription Allocation").
In the event the total principal amount of Remaining Bonds elected to be treated in Option B exceeds $144,283,333 (assuming that all other requirements for valid and effective exercise shall have been satisfied) (in such event a "Remaining Bonds Oversubscription") the amount of the Remaining Bonds New Securities distributed to each such Holder electing Option B shall be determined as follows.
Remaining Bonds so purchased shall be "Purchased Bonds" under the Resolution.
In such event, each such Holder shall additionally be deemed to have elected Option A for an amount that equals the principal amount of Remaining Bonds owned by such Holder and initially elected to be treated in Option B less a number that equals its Remaining Bonds Oversubscription Allocation divided by .6.
The Board shall request that the Liquidity Provider purchase Remaining Bonds by delivering to the Liquidity Provider, no later than 10:00 a.m. (New York City time) on the date such Remaining Bonds are required to be purchased under the terms of the Resolution, a completed Notice of Draw setting forth the principal and accrued but unpaid interest on such Remaining Bonds.
The liquidating agent shall liquidate the Reallocated Remaining Bonds New Securities and distribute the proceeds on a pro rata basis to all Holders of Remaining Bonds electing Option A pursuant to the terms of the Pooling Agreement.
The purchase price for such Remaining Bonds shall equal the sum of (i) the principal of such Remaining Bonds and (ii) the accrued but unpaid interest on such Remaining Bonds.
Notwithstanding anything to the contrary in this Section 2 or elsewhere in this Agreement, in no event shall the Liquidity Provider be required to make funds available to the Authorized Representative, Tender Agent, or otherwise advance funds or purchase Remaining Bonds (i) if (a) such action would reduce the Available Commitment below zero or (b) immediately prior to such action the Available Commitment is zero or less, (ii) if such action would exceed the Daily Commitment or (iii) after the Final Date.
Subject to the terms of this Agreement, the Liquidity Provider hereby agrees, at the request from time to time of the Board, to purchase Remaining Bonds.
The respective Trustees for each issue of Remaining Bonds shall receive on behalf of all Holders electing such treatment, (A) a pro rata portion of any distributions paid by United through the Plan on account of the Remaining Bonds Unsecured Claim held by such Holders; and (B) a pro rata portion of the Pooling Agreement Assets pursuant to the terms of Section 3(d).