Surrendered Notes definition

Surrendered Notes means any Notes or beneficial interest in Notes tendered by any Holder or beneficial owner (including the Asset Manager and its Affiliates), respectively, for cancellation by the Trustee without such Holder receiving any payment on the principal amount outstanding at the time of such surrender.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Surrendered Notes. Any Notes or beneficial interest in Notes tendered by any Holder or beneficial owner (including the Asset 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 Notes being refinanced in connection with a Refinancing).

Surrendered Notes means notes surrendered to the Trustee, as provided in Section 2.06 of this Indenture.

Examples of Surrendered Notes in a sentence

• The assignment by a Lender of a Commitment or portion thereof to another Person and the execution and delivery of a new Note or Notes shall not constitute a novation of the indebtedness evidenced by the Surrendered Note or Surrendered Notes and incurred in connection with such assigned Commitment.

• Such new Notes shall be dated the same date as the Surrendered Notes and be in substantially the form of Exhibit A hereto.

• Such new Note or Notes shall re-evidence the indebtedness outstanding under the old Note or Notes and shall be in an aggregate principal amount equal to the aggregate principal amount of such Surrendered Note or Surrendered Notes, shall be dated the Acceptance Date and shall otherwise be in substantially the form, of the Note or Notes subject to such assignments.

• The undersigned hereby certifies that the interest rate on the Surrendered Note(s) on the Exchange Date will equal ___% per annum.

• Such new Notes shall be dated the same date as the Surrendered Notes and be in substantially the form of EXHIBIT A hereto, as applicable.

• All Repurchased Notes and Surrendered Notes submitted to the Issuer for delivery to the Trustee or directly to the Trustee for cancellation will be promptly cancelled by the Trustee.

• All Repurchased Notes and Surrendered Notes 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.

• Paying Agents to Record, Notify Payments and Deliver Surrendered Notes................................................

• The undersigned hereby certifies that the interest rate on the Surrendered Note(s) on the Exchange Date is equal to ___% per annum.

• The [aggregate] amount of accrued and unpaid interest on the Surrendered Note(s) as of ________________, ____ [Insert date of exchange of Surrendered Notes for Exchange Notes, 60 days after the above date] (the "Exchange Date") is $______, all of which is required by Section 2.3(g) of the Bridge Loan Agreement to be paid in cash.

More Definitions of Surrendered Notes

Surrendered Notes. The meaning specified in Section 2.9.

Surrendered Notes means those Notes presented or surrendered for transfer, exchange or conversion as set forth in the Transfer Certificate.