Series 1 Notes definition
Examples of Series 1 Notes in a sentence
The Company shall not incur any new Indebtedness which is intended to rank pari passu or senior in right of payment to the Series 2 Notes; provided, however, that this Section 7.3 does not apply to any Indebtedness incurred which is used to repay the Series 2 Notes and accrued interest thereon in full before any other permitted use (other than a concurrent repayment in full of the Series 1 Notes).
As of the Effective Time, there is not more than $270,000 in aggregate principal amount of indebtedness, plus approximately $23,465 of accrued interest thereon, under the Series 1 Notes outstanding.
After the conversion into shares of Company Common Stock of the outstanding shares of Class A Preferred Stock, the outstanding balance owed under the Series 2 Notes and substantially all of the indebtedness outstanding under the Series 1 Notes, and in the case of the Series 1 and Series 2 Notes, accrued interest as applicable, the Company has approximately 36,271,014 shares of Company Common Stock outstanding.
In the event that any holder of Series 1 Notes shall decline to convert such notes into Parent Common Stock at the Effective Time, then the Series 1 Notes shall remain outstanding debt obligations of the Surviving Corporation following the Closing.
The Series 1 Notes shall have the terms set forth in this Article 2 and be subject to the applicable provisions of the Indenture.