Third Party Notes definition
Examples of Third Party Notes in a sentence
Upon execution of its acknowledgement hereto, each of the Second Priority Notes Trustee and Third Party Notes Trustee hereby acknowledges and agrees that it is no longer a party to this Agreement, is no longer entitled to any of the benefits of this Agreement, and is hereby discharged from its duties and obligations hereunder.
The certificates for the Third Party Notes (including the Guarantees thereof), the Initial Securities and the Option Securities, if any, will be made available for examination and packaging by the Representative in The City of New York not later than 10:00 A.M. (Eastern time) on the business day prior to the Closing Time or the relevant Date of Delivery, as the case may be.
To Extra Space’s Knowledge, Schedule 5.1.25 sets forth the outstanding principal balance owing under each of the Third Party Notes.
It is understood that each Underwriter has authorized the Representative, for its account, to accept delivery of, receipt for, and make payment of the purchase price for, the Third Party Notes, the Initial Securities and the Option Securities, if any, which it has agreed to purchase.
Certificates for the Third Party Notes (including the Guarantees thereof), the Initial Securities and the Option Securities, if any, shall be in such denominations and registered in such names as the Representative may request in writing at least one full business day before the Closing Time or the relevant Date of Delivery, as the case may be.
The Third Party Notes are secured by one or more mortgages or deeds of trust against the Property (each a the “Third Party Mortgage” and collectively the “Third Party Mortgages”).
The initial public offering price of the Third Party Notes shall be 100% of the principal amount thereof, plus accrued interest, if any from the date of issuance.
Notwithstanding anything to the contrary set forth herein, (i) the first $250,000,000 in aggregate principal amount of Notes under the Commitment shall be drawn ratably with the first $125,000,000 in aggregate principal of Third Party Notes under the Third Party SPA and (ii) the remaining $50,000,000 in aggregate principal amount of Notes under the Commitment shall be drawn ratably with the remaining $50,000,000 in aggregate principal amount of Third Party Notes under the Third Party SPA.
The interest rate on the Third Party Notes shall be 11% per annum.
The Borrower shall not at any time permit Third Party Notes Payable to be greater than thirteen percent (13%) of Tangible Assets on a consolidated basis.