Examples of Senior Note Indenture in a sentence
In addition, the Debtors are facing the imminent maturity of the Senior Notes, and the Debtors’ inability to satisfy the Prepetition Facility Obligations on the maturity date constituted an event of default under the Senior Note Indenture.
In light of the maturity of the Prepetition Facility, the Debtors commenced the Chapter 11 Cases to prevent the Prepetition Lenders, and by virtue of cross-acceleration provisions in the Senior Note Indenture, the Senior Noteholders, from seeking to foreclose on the Debtors’ stock and assets.
Pursuant to the Collateral Trust Agreement, dated as of August 15, 2005, among ICO Global, the Debtors, and The Bank of New York, as collateral agent and as trustee under the Senior Note Indenture (as amended, supplemented, or modified from time to time, the “Collateral Trust Agreement”), the liens securing the Debtors’ obligations under the Senior Note Indenture are junior in priority to the liens securing the Prepetition Facility Obligations.
In addition, the Debtors entered into the Forbearance Agreements in connection with the Prepetition Facility and the Senior Note Indenture and made numerous proposals to an ad hoc committee of the Senior Noteholders to restructure the Debtors’ obligations under the Senior Note Indenture.
Although the Debtors accepted the UBS Settlement Offer and made substantial progress with potential strategic partners and with respect to restructuring their obligations under the Senior Note Indenture, ultimately, the Debtors were unable to finalize or to secure an appropriate further forbearance from the Prepetition Lenders or the Senior Noteholders.