Senior Secured Notes Issuer definition
Examples of Senior Secured Notes Issuer in a sentence
The Senior Secured Notes Issuer shall promptly and as principal Debtor indemnify each Primary Creditor against any cost, loss or liability (together with any applicable VAT), whether or not reasonably foreseeable, incurred by any of them in relation to or arising out of the operation of Clause 14.2 (Distressed Disposals).
Each Debtor and the Senior Secured Notes Issuer irrevocably authorises the Senior Secured Notes Trustee to disclose to any other Primary Creditor any information that is received by the Senior Secured Notes Trustee in its capacity as the Senior Secured Notes Trustee.
In this event, the Security Agent shall resign in accordance with paragraph (b) above (or in accordance with such shorter notice as determined by the Instructing Group) but the cost referred to in paragraph (d) above shall be for the account of the Senior Secured Notes Issuer.
The Senior Secured Notes Issuer shall pay and, within three Business Days of demand, indemnify the Security Agent against any cost, loss or liability the Security Agent incurs in relation to all stamp duty, registration and other similar Tax payable in respect of any Debt Document.
AAC will issue a note to the Senior Secured Notes Issuer in an initial principal amount equal to the initial principal amount of the AAC Secured Notes (the “Ambac Note”).
The Senior Secured Notes Issuer is not expected to be required to register as an investment company under the Investment Company Act of 1940, as amended.
The holders of the Senior Secured Notes will not be entitled to require AAC or the Senior Secured Notes Issuer to register the Senior Secured Notes for resale or otherwise.
In particular, in the event of a rehabilitation, liquidation, conservation, dissolution or other insolvency proceeding with respect to AAC, if the proceeds from the RMBS Litigations received by AAC are determined not to be under the control of the Senior Secured Notes Issuer, a receiver or a creditor of AAC may take the position that the Senior Secured Notes Issuer’s security interest in such proceeds or a portion hereof is not perfected and therefore that such proceeds do not secure the Ambac Note.
In the event of an Ambac Note redemption, the Senior Secured Notes Issuer will redeem the Senior Secured Notes, without penalty or premium, with the proceeds of the Ambac Note redemption.
The Senior Secured Notes Issuer shall apply any proceeds received on the Ambac Note as a result of a payment of RMBS Proceeds to redeem the Senior Secured Notes.