Secured Notes Policy definition

Secured Notes Policy means the financial guaranty insurance policy number [•] issued by AAC on the Issue Date to the Trustee for the benefit of the Noteholders, irrevocably guaranteeing all principal and interest payments in respect of the Notes as and when such payments become due and owing, on the terms set forth herein.
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Secured Notes Policy. AAC will issue a financial guaranty insurance policy (the “Policy”) to the [Trustee]/[Fiscal Agent] for the benefit of Secured Noteholders irrevocably guarantying all principal and interest payments (including mandatory prepayments) in respect of the Secured Notes as and when such payments become due and owing.
Sample 1
Secured Notes Policy means the financial guaranty insurance policy number SF0958BE issued by AAC on the Issue Date to the Trustee for the benefit of the Noteholders, irrevocably guaranteeing all principal and interest payments in respect of the Notes as and when such payments become due and owing, on the terms set forth herein.
Sample 1

Examples of Secured Notes Policy in a sentence

  • If any outstanding principal on any of the Secured Notes are repaid or redeemed from any source (including, without limitation, the Secured Notes Policy), other than from proceeds of this Note, the principal balance of this Note shall be deemed to be repaid in amount equal to such payment and the outstanding principal balance of this Note shall be correspondingly reduced.

  • The Trustee shall surrender the Secured Notes Policy to AAC upon expiration of the term of the Secured Notes Policy in accordance with the terms of the Secured Notes Policy.

  • All proceeds of claims upon the Secured Notes Policy shall be deposited with the Paying Agent and shall be used solely to pay the amount of such insufficiency (which, for the avoidance of doubt shall cure the related Event of Default), in accordance with the terms hereof.

  • Claims under the Senior Secured Notes Policy will rank pari passu with other Policy Claims.

  • This Policy is not cancelable by Ambac for any reason, including the failure of Ambac to receive payment of any Secured Notes Policy Premium due in respect of this Policy.

  • The summary does not purport to be complete and is subject to, and is qualified in its entirety by reference to, all the provisions of the Senior Notes Indenture, the Secured Notes Policy, the Ambac Note and the Note Security Documents (as defined in the Senior Notes Indenture) (collectively, the “Senior Secured Note Documents”), including the definitions therein of certain terms.

  • The Secured Notes Policy Premium is not refundable for any reason.

  • Ambac Assurance Corporation (“Ambac”), a Wisconsin stock insurance corporation, in consideration of the payment of the Secured Notes Policy Premium and subject to the terms of this Policy (including the endorsement hereto), hereby agrees unconditionally and irrevocably to pay to or on behalf of the Insured Party that portion of the Insured Obligations which shall become Due for Payment but shall be unpaid by reason of Nonpayment during the term of this Policy.

Related to Secured Notes Policy

  • Secured Notes The Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes.

  • Secured Notes Indenture means the Indenture, dated as of May 29, 2013, among the Borrower, the subsidiary guarantors party thereto from time to time and Wilmington Trust, National Association, as trustee, governing the Secured Notes, as the same may be amended, supplemented, waived or otherwise modified from time to time.

  • Senior Unsecured Notes Indenture means the Indenture dated as of July 20, 2011 among Xxxxx Fargo Bank, National Association, as trustee, the Borrower, as issuer, and the guarantors party thereto, as the same may be amended or supplemented from time to time.

  • Senior Secured Note Indenture means the Indenture dated as of November 5, 2009, among the Issuers, the Note Guarantors (as defined therein) and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as amended, extended, restructured, renewed, refunded, novated, supplemented, restated, replaced or modified from time to time;

  • Unsecured Notes Indenture means the indenture, dated as of July 31, 2015, by and among the Borrower and Wilmington Trust, National Association, as trustee.

  • Senior Note Indenture the Indenture entered into by Holdings, the Borrower and certain of its Subsidiaries in connection with the issuance of the Senior Notes, together with all instruments and other agreements entered into by Holdings, the Borrower or such Subsidiaries in connection therewith.

  • Senior Secured Notes Trustee means U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee under the Senior Secured Notes Indenture.

  • Senior Unsecured Notes means $2,000,000,000 in aggregate principal amount of the Borrower’s 9.000% senior notes due 2025 issued pursuant to the Senior Unsecured Notes Indenture on the Closing Date.

  • Existing Unsecured Notes the Borrower’s 11.5% Senior Notes due 2018, issued pursuant to the Existing Unsecured Indenture, outstanding on the Closing Date or subsequently issued in exchange for or in respect of any such notes.

  • Senior Notes Trustee means Xxxxx Fargo Bank, National Association, together with its permitted successors and assigns.

  • Subordinated Notes means the Initial Notes and the Exchange Notes and, more particularly, any Subordinated Note authenticated and delivered under this Indenture, including those Subordinated Notes issued or authenticated upon transfer, replacement or exchange.

  • Unsecured Notes means the Borrower’s $700,000,000 10.75% Senior Notes due 2023 issued pursuant to the Unsecured Notes Indenture dated as of July 31, 2015.

  • Second Lien Notes Trustee “Second Lien Noteholder”, “High Yield Agent”, “HY Borrower”, “High Yield Creditor”, “High Yield Lender”, “Unsecured Agent”, “Unsecured Borrower”, “Unsecured Creditor”, “Unsecured Lender”, “Security Agent”, “Security Grantor”, “Senior Agent”, “Senior Arranger”, “Senior Borrower”, “Senior Creditor”, “Senior Guarantor”, “Senior Lender”, “Senior Secured Notes Guarantor”, “Senior Secured Notes Issuer”, “Senior Secured Notes Trustee”, “Senior Secured Noteholder”, “Subordinated Creditor”, “Permitted Affiliate Parent” or the “Company” shall be construed to be a reference to it in its capacity as such and not in any other capacity;

  • Senior Secured Notes Documents means the Senior Secured Notes Indenture, the Senior Secured Notes Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any supplemental indenture, any security document relating to the Senior Secured Notes and/or the Senior Secured Notes Indenture and any other document that may be entered into pursuant to any of the foregoing.

  • Senior Note Indentures means, collectively, the Senior Note (2020) Indenture, the Senior Note (2021) Indenture, the Senior Note (2022) Indenture and the Senior Note (2023) Indenture.

  • Existing Senior Secured Notes means the Borrower’s $800,000,000 8.500% Senior Secured Notes due 2019, issued pursuant to the Existing Senior Secured Notes Indenture.

  • Senior Secured Notes Indenture means the indenture, dated as of the Closing Date, among the Borrower, as issuer, the guarantors party thereto and the trustee referred to therein pursuant to which the Senior Secured Notes are issued, as such indenture may be amended or supplemented from time to time.

  • Subordinated Note Indenture means the Indenture dated as of the Closing Date, among the Borrower, the guarantors party thereto and The Bank of New York, as trustee, pursuant to which the Subordinated Notes are issued, as the same may be amended, supplemented or otherwise modified from time to time to the extent permitted by Section 10.7(b).

  • Subordinated Notes Indenture means that certain Subordinated Debenture Indenture between DH (f/k/a NGC Corporation) and First National Bank of Chicago, as Debenture Trustee, dated as of May 28, 1997 (as amended, restated and supplemented through the Petition Date).

  • Senior Secured Notes means the $1,875 million aggregate principal amount of 7.375% Senior Secured Notes due 2023 of the Borrower including, as the same may be amended, supplemented, waived or otherwise modified from time to time, including any senior secured exchange notes issued in lieu thereof.

  • Note Indenture means the Note Indenture dated as of May 17, 2001, between the Note Issuer and the Note Trustee, as the same may be amended and supplemented from time to time.

  • Second Lien Notes Indenture has the meaning set forth in the recitals hereto.

  • Existing Senior Notes Indentures means, the indentures governing the Existing Senior Notes, each as may be amended or supplemented from time to time.

  • Existing Senior Notes Indenture means that certain Indenture dated as of March 16, 2011, by and between the Borrower, as issuer, and Xxxxx Fargo Bank, National Association, as trustee, as amended, restated, supplemented, renewed or extended or otherwise modified from time to time to the extent permitted by Section 7.15.

  • Senior Notes Indentures means the Senior Secured Notes Indenture and the Senior Unsecured Notes Indenture.

  • Senior Notes Indenture means the Indenture for the Senior Notes, dated December 29, 2011, between the Borrower and Wilmington Trust, National Association, as trustee, as the same may be amended, modified, supplemented, replaced or refinanced to the extent not prohibited by this Agreement.