Surrendered Debt definition
Surrendered Debt. Any Debt or beneficial interest in Debt tendered by any Holder or beneficial owner (including the Collateral Manager and its Affiliates), respectively, for cancellation by the Trustee without such Holder receiving any payment on the full principal amount outstanding at the time of such surrender (other than any Debt being refinanced in connection with a Refinancing).
Surrendered Debt. Any Debt surrendered to the Issuer or Trustee pursuant to the first sentence of Section 2.9.
Examples of Surrendered Debt in a sentence
All Repurchased Debt and Surrendered Debt submitted to the Issuer for delivery to the Collateral Trustee or directly to the Collateral Trustee for cancellation will be promptly cancelled by the Collateral Trustee.